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Last update: Sun, 01 May 2016 01pm

Global Business & Economy

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German inflation higher in April FRANKFURT: Inflation in Germany, Europe's biggest economy, crept higher in April with consumer prices rising by 0.5 percent year-on-year, final data showed on Wednesday. The previous month, the consumer price index had risen by 0.3 percent on a 12-month basis, the federal statistics office Destatis said in a statement.The final data represent a fractional upward revision from the 0.4 percent originally reported at the end of April. Using the Harmonised Index of Consumer Prices (HICP) -- the yardstick used by the European Central Bank -- inflation in Germany rose by 0.3 percent percent year-on-year in April, still way under the ECB's annual inflation target of just below two percent.The data nevertheless appear to confirm that the ECB's monetary policy measures are slowly beginning to push up inflation. Copyright AFP (Agence France-Presse), 2015 ...

World - Global Business & Economy

China retail sales growth at nine-year low in April: govt BEIJING: Retail sales growth in China fell to 10.0 percent in April, authorities said Wednesday, missing expectations and the lowest for nine years.Industrial output in the world's second-largest economy rose 5.9 percent in April, the National Bureau of Statistics said, while fixed asset investment, a measure of government spending on infrastructure, expanded 12.0 percent in the first four months of the year.Copyright AFP (Agence France-Presse), 2015 ...

World - Global Business & Economy

Mozambique's economy to grow 7pc in 2015: IMF MAPUTO: The International Monetary Fund said Tuesday it expected Mozambique's economy to grow seven percent this year, thanks to investment in the vast northeastern Rovuma gas fields."Mozambique's economic performance remains robust and stronger than most other Sub-Saharan African countries," said Alex Segura-Ubiergo, who led an IMF team on a two-week trip to Mozambique."Growth is expected to reach seven percent in 2015."The Fund forecasts growth to climb to an average of eight percent for four years ...

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EU to warn Finland over budget deficits: media HELSINKI: The European Commission will issue a warning for Finland over its budget deficit and public debt that are seen breaching the EU limits, Finnish public broadcaster YLE and Helsingin Sanomat daily reported on Tuesday.According to YLE citing unnamed sources, Finland will be the only member state to get such a warning from the EU on Wednesday. Finnish government officials were not immediately available for comment.The EU Commission forecast earlier this month that Finland's general ...

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US small business confidence perks up; jobs market solid WASHINGTON: US small business owners gained confidence in April and were surprisingly bullish about capital expenditure plans, further supporting views that economic growth was rebounding after a dismal first quarter.The National Federation of Independent Business said on Tuesday its Small Business Optimism Index rose 1.7 points to 96.9 last month. It was the largest gain since December."A fairly positive tone. The data add to the evidence that the weakening in growth in first quarter was ...

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Weak Mexico industrial output pressures govt GDP forecast MEXICO CITY: Mexican industrial output unexpectedly stagnated in March compared with February, dampening growth hopes and putting pressure on the government's forecast for a third year running.Adjusted for seasonal swings, output was flat in March month-on-month, figures from the national statistics office showed on Tuesday. That fell short of expectations from a Reuters poll of economists for a 0.35 percent increase.Compared with the same month a year earlier, industrial production in March increased by 1.7 ...

World - Global Business & Economy

Wage growth may be on tap as more Americans quit jobs SAN FRANCISCO: Americans are becoming more apt to quit their jobs, a government report showed on Tuesday, a sign that a stronger labor market and falling unemployment rate could result in healthier wage growth and inflation.The three-month quit rate for non-government jobs rose to 6.6 percent, the report showed, the highest since the second quarter of 2008 and up from 6.5 percent in the final quarter of 2014. Both wages and inflation tend to follow ...