01222017Sun
Last update: Sun, 22 Jan 2017 03pm

Global Business & Economy

World - Global Business & Economy

Fiat avoids Trump wrath, but Mexico imports coming soon DETROIT: Fiat Chrysler so far has escaped the wrath of President-elect Donald Trump's Twitter feed, but the automaker is due to start importing models from Mexico as soon as this month.Fiat Chrysler shifted production of the new Jeep Compass to Mexico so it could build another vehicle in the Illinois plant outside of Chicago, where the Compass was produced until last month.The move was part of the overall effort to boost production for its popular Jeep brand, according to the company's executives.So far FCA has escaped Trump's twitter outbursts and is trying to maintain a low profile as it prepares the plant in Toluca, Mexico to produce the Compass for sale in the US market and for export to other countries as well.But Trump has targeted Ford, General Motors and Toyota in his attacks, largely via Twitter, for investing in plants in Mexico and threatened to impose stiff import taxes ...

World - Global Business & Economy

Inflation drop, weak growth pave way for Chile rate cut SANTIAGO: Inflation in Chile continued to quickly subside in December, which combined with weak economic growth data should pave the way for the central bank to cut its benchmark interest rate for the first time in over two years on Jan. 19. The consumer price index fell 0.2 percent in December as prices for food and non-alcoholic beverages as well as recreation and cultural activities decreased, the government's INE statistics agency said on Friday. That ...

World - Global Business & Economy

Japan seen posting 29th straight monthly current account surplus in Nov TOKYO: Japan is expected to show a 29th straight current account surplus in November as exports recovered and on income from overseas investment, a Reuters poll showed on Friday. The current surplus was seen at around 1.5 trillion yen ($12.94 billion) in November after a 1.7 trillion yen surplus in October, the poll of 17 analysts found."Overseas economies are recovering which helps Japan's exports," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Insurance."Also, the ...

World - Global Business & Economy

Euro zone revival carries sting in tail LONDON: The euro zone's belated economic revival could carry a sting in the tail. Signs of a pickup in business activity and slightly rising prices are welcome for the single currency area. The risk is that a sustained pickup exposes the bloc's multi-speed recovery. Europe's low-key upturn has been overshadowed by political turmoil in Italy and investors' excitement about a possible economic boom in the United States under President-elect Donald Trump. Nevertheless, the European Central ...

World - Global Business & Economy

Morocco GDP rises 1.2pc yr/yr in Q4, to expand 3.9pc in Q1 RABAT: Morocco's economy grew 1.2 percent year-on-year in the fourth quarter, the country's planning agency said on Wednesday, at the end of a year in which a severe drought hit the agricultural sector Gross domestic product growth should jump 3.9 percent in the first quarter of 2017 with agricultural output up 11.1 percent, the agency said. Copyright Reuters, 2017 ...

World - Global Business & Economy

ECB lending guidelines could drive riskier LBOs underground LONDON: Proposed leveraged lending guidelines from the European Central Bank could force riskier lending into unregulated channels and create unintended opportunities for arbitrage as well as breed market distortion.In an attempt to curb banks from underwriting riskier LBOs, the European banking watchdog has put forward a red line of 6x leverage in its draft guidance on "leveraged transactions", closely mirroring guidelines introduced by US regulators in 2013.Fears are growing, however, that Europe could see similar ...

World - Global Business & Economy

Singapore dodges technical recession, grows 1.8pc in 2016 SINGAPORE: Singapore's trade-driven economy grew 1.8 percent last year, the slowest pace since the global financial crisis in 2009, after dodging a technical recession in the fourth quarter, official data showed Tuesday.Analysts warned growth in 2017 could even be more subdued if rising protectionism crimps global trade and further rises in US interest rates put more pressure on the local economy."Singapore has comfortably dodged a technical recession in Q4 2016, but we expect the local ...