08292016Mon
Last update: Mon, 29 Aug 2016 03am

Global Business & Economy

World - Global Business & Economy

Mauritius trade deficit widens 7.1pc in June PORT LOUIS: Mauritius said on Monday its trade deficit widened 7.1 percent to 6.21 billion rupees in June from the same period a year earlier, hit by a dip in exports of machinery and transport equipment. The Indian Ocean island nation's earnings from exports fell 15 percent to 7.37 billion rupees, the government's statistics office said in a statement. France was the main destination for Mauritius's exports, followed by the United States and Britain. Foreign sales of machinery and transport equipment declined to 621 million rupees from 1.48 billion. Total imports fell 6.1 percent to 13.59 billion rupees. Some 19.9 percent came from China. Copyright Reuters, 2016 ...

World - Global Business & Economy

Poland's deficit at 26pc of full-year plan after July-agency WARSAW: Poland's budget deficit stood at 14.4 billion zlotys ($3.78 billion) or 26.3 percent of the full-year plan in the January-July period, Polish state news agency PAP quoted finance ministry's data on Monday. The result came in slightly above the ministry's expectations of a 25 percent shortage in the first seven months of the year. In the first half of the year, the Central and Eastern Europe's biggest economy's deficit amounted to 34.1 percent of ...

World - Global Business & Economy

Mexico economy shrinks in Q2, first time in 3 years on industry slump MEXICO CITY: Mexico's economy shrank in the second quarter for the first time in three years, dragged down by the deepest slump in industrial output since 2009, but it was not seen sliding into recession soon. The contraction comes after a slump in crude oil prices hammered Mexico's economy and after the central bank aggressively hiked its benchmark rate in June following a sharp depreciation of the local peso. The finance ministry is set to ...

World - Global Business & Economy

Mauritius trade deficit widens 7.1pc in June PORT LOUIS: Mauritius said on Monday its trade deficit widened 7.1 percent to 6.21 billion rupees in June from the same period a year earlier, hit by a dip in exports of machinery and transport equipment.The Indian Ocean island nation's earnings from exports fell 15 percent to 7.37 billion rupees, the government's statistics office said in a statement.France was the main destination for Mauritius's exports, followed by the United States and Britain.Foreign sales of machinery ...

World - Global Business & Economy

German exports to Iran soar after removal of sanctions BERLIN: German exports to Iran, mostly machines and equipment, jumped in the first half of the year following the removal of international sanctions against the Islamic Republic, official trade data showed on Monday.Exports to Iran surged by 15 percent year-on-year in the first six months of 2016 to 1.13 billion euros ($1.3 billion), the Federal Statistics Office said.This compares with a rise of 1.4 percent in overall German exports in the same period and a ...

World - Global Business & Economy

Morocco annual inflation slows to 1.6pc in July RABAT: Morocco's annual consumer price inflation eased to 1.6 percent in July from 2.3 percent in June due to a slowing in food price rises, the High Planning Authority said on Monday.Annual food inflation eased to 2.7 percent from 4.4 percent in the previous month, while non-food price inflation fell slightly to 0.5 percent in the 12 months to July from an annual 0.6 percent in June.Transport costs fell 1.1 percent, but hotels and restaurants ...

World - Global Business & Economy

Taiwan's July export orders fall again, but China demand picks up TAIPEI: Taiwan's export orders in July contracted for the 16th straight month as global demand for technology products stayed weak, but Chinese orders grew in a sign of recovering factory activity.The island's tech manufacturers have cut their sales forecasts amid weak global growth and a China slowdown, but have been cautiously optimistic that demand for consumer electronics would pick up ahead of the year-end festive season and the anticipated launch of Apple's new model iPhone.July's ...