02142016Sun
Last update: Sun, 14 Feb 2016 10am

Global Business & Economy

World - Global Business & Economy

German industrial production down in December FRANKFURT: German industrial production decreased in December, weighed down by falling activity in the energy and manufacturing sectors, the economy ministry said on Tuesday. The ministry calculated that factory output -- a key yardstick for gauging the health of Europe's biggest economy -- contracted by 1.2 percent in December compared with a month earlier, corrected for seasonal factors.In November, output had declined fractionally by 0.1 percent. Manufacturing output was down by 1.1 percent month-on-month and energy output contracted by 3.0 percent, while construction output slipped by just 0.2 percent, the ministry said.Copyright AFP (Agence France-Presse), 2016 ...

World - Global Business & Economy

Germany runs up highest trade surplus as exports top new record FRANKFURT: Germany clocked up its highest-ever trade surplus in 2015 as both exports and imports powered ahead to new records, official data showed on Tuesday. German exports jumped by 6.4 percent to 1.196 trillion euros ($1.3 trillion) in the whole of 2015 and imports advanced by 4.2 percent to 948 billion euros, the federal statistics office calculated.That meant that the trade surplus -- the balance between exports and imports -- grew to 247.8 billion euros, ...

World - Global Business & Economy

India sees higher growth even after economy loses steam NEW DELHI: India's economic growth slowed in the last quarter of 2015, adding to pressure on Prime Minister Narendra Modi's government to expedite stalled reforms in the next session of parliament when it presents its annual budget.Gross domestic product grew an annual 7.3 percent in the October-December quarter, government data showed on Monday, less than an upwardly revised 7.7 percent in July-September but in line with the forecast in a Reuters poll of economists.That rate ...

World - Global Business & Economy

US inflation survey tumbles in red flag for Fed NEW YORK: An increasingly important gauge of US inflation tumbled last month to its lowest level since the Federal Reserve Bank of New York began the survey in mid-2013, in what could be taken as another warning bell for the U.S. central bank.The New York Fed's survey of consumers found expectations for inflation one and three years in the future fell as Americans were more cognizant of lower gasoline prices and costs of medical care ...

World - Global Business & Economy

Turkey 2015 growth may have topped 4pc ANKARA: Turkey's economy may have grown more than 4 percent in 2015 and more than 5.4 percent in the last quarter of last year, the development minister said on Monday, as industrial production data came in higher than expected. Industrial production rose a calendar-adjusted 4.5 percent year-on-year in December. Development Minister Cevdet Yilmaz said industrial output grew 3.2 percent for the year. Copyright Reuters, 2016 ...

World - Global Business & Economy

India pegs 2015/16 growth at 7.6pc; GDP grows 7.3pc y/y in Dec quarter NEW DELHI: The Indian government on Monday forecast annual economic growth to accelerate to 7.6 percent in the fiscal year ending in March 2016 after Asia's third-largest economy grew 7.3 percent in the quarter to end-December. The latest full-year estimate compares with a revised 7.2 percent growth a year earlier. The GDP growth in the December quarter was in line with the forecast of economists in a Reuters poll. Copyright Reuters, 2016 ...

World - Global Business & Economy

Amplats to cut 1,000 jobs at Twickenham mine CAPE TOWN: South Africa's Anglo American Platinum will cut 1,000 jobs at its struggling Twickenham mine, Chief Executive Chris Griffith told Reuters on Monday on the sidelines of a mining conference in Cape Town.Amplats reported an 86 percent drop in full-year profit on Monday, hit by write-downs and restructuring costs amid plunging commodity prices. Copyright Reuters, 2016 ...