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Last update: Sat, 06 Feb 2016 12pm

Global Business & Economy

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German growth set for 'noticeable' Q2 slowdown: Bundesbank BERLIN: German economic growth is heading for a significant slowdown in the second quarter of 2014 after a robust first three months, the German central bank said on Monday."After the extremely strong start to the year, economic growth in Germany is expected to see a noticeable slowdown in the second quarter," the Bundesbank said in its latest monthly report.Growth in industrial orders has not continued with the "same intensity" as in the first two months of the year, it said.The mild winter weather conditions of the first quarter of 2014 will also squeeze the rate of growth in gross domestic product in the following three months, it added.However the "economic underlying trend" is expected to remain clearly on the up due to the "exceptionally favourable consumption climate and the active demand for home building", it noted.Highlighting a first quarter expected to show very strong growth, the central bank pointed to ...

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French central bank head warns of eurozone disinflation risk PARIS: The eurozone is at risk from unduly low inflation, the governor of the French central bank Christian Noyer, who also sits on the policy body of the European Central Bank, warned on Monday.A second challenge for the eurozone is the strength of the euro, which was "one of the factors pushing inflation down," Noyer said.But "low inflation does not mean deflation", Noyer underlined, saying that deflation meant "a pernicious spiral" marked by a "permanent ...

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EU calls on Morocco to ratify fisheries deal quickly BRUSSELS: The European Union called Monday on Morocco to quickly ratify an accord opening up the country's waters to the bloc's fishermen, especially from Spain, saying the delay was regrettable.The EU completed its ratification of the accord in December "after a very long and complicated negotiating process," the European Commission said.With fisheries access blocked since 2011, time was pressing for Morocco to do likewise, Fisheries and Maritime Affairs spokeswoman Helene Banner said in a statement.Morocco's ...

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China's gold imports from Hong Kong fall to 4-month low SINGAPORE: China's gold purchases via main conduit Hong Kong fell to a four-month low in March as a weaker yuan and domestic prices below the global benchmark kept banks from importing. Lower imports from the world's top consumer of the metal, which has been a stabilising factor as gold prices fell over the past year, could add pressure on bullion as demand from the second biggest buyer India has also taken a hit from tighter ...

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Indonesia trade surplus seen narrowing, inflation to ease JAKARTA: Indonesia's trade surplus likely narrowed in March as exports remained weak, while the annual inflation rate probably eased further in April, a Reuters poll showed.The median forecast from 11 analysts was for a trade surplus of $500 million in March, against a $790 million surplus in the previous month.Analysts see annual inflation easing to 7.25 percent in April from 7.32 percent in March, though they see the core inflation rate quickening slightly to 4.67 ...

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Adjustments of Hong Kong property prices 'necessary': IMF HONG KONG: The International Monetary Fund said Monday Hong Kong property prices are set to see adjustments following years of boom. The city's housing market has become one of the most expensive in the world -- prices have more than doubled since 2008 -- due to an influx of capital from the mainland and record low interest rates thanks to US quantitative easing.Housing affordability has become a thorny issue for the Hong Kong government, with ...

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Schaeuble open to German income tax relief BERLIN: Germany's powerful finance minister Wolfgang Schaeuble said Sunday he was open to cutting income taxes, as international partners call on Europe's top economy to spur consumer demand.Schaeuble told the upcoming issue of Der Spiegel magazine that if a compromise can be reached within Germany's left-right "grand coalition" government while respecting fiscal discipline, he would be willing to look at tax relief.The latest calls for reform target a quirk of the German system known as ...