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Global Business & Economy

World - Global Business & Economy

Rwanda inflation rises to 2.1pc in December KIGALI: Rwanda's urban inflation rate jumped to 2.1 percent in the year to December from 0.7 percent the previous month, the statistics office said on Saturday. The east African nation focuses on the urban inflation rate for monetary policy purposes. Annual average inflation stood at 1.8 percent last year, the statistics office added.Copyright Reuters, 2015 ...

World - Global Business & Economy

US jobless rate falls to 5.6pc in best year since 1999 WASHINGTON: The US unemployment rate fell to 5.6 percent in December, the lowest level in six and a half years, as the country capped its best year for job creation since 1999.In a fresh sign that the United States is creating more distance with the weakness in Europe and elsewhere, the Commerce Department said Friday that the economy churned out 252,000 jobs last month.Together with upward revisions of the previous two months -- 50,000 more ...

World - Global Business & Economy

US inflation breakeven rates fall after weak wage data NEW YORK: The U.S. bond market's measures on inflation expectations fell on Friday after the government's non-farm payrolls data showed wages unexpectedly fell in December, reducing hopes the recent pickup in hiring would support price growth for the economy.The U.S. Labor Department said average hourly earnings fell 0.2 percent in December, falling short of analysts' forecast of a 0.2 percent gain. The initial November reading of a 0.4 percent increase was revised down to a ...

World - Global Business & Economy

Canada loses jobs for second month in a row, housing cools OTTAWA: Canada's job market continued to gently cool off in December, shedding 4,300 positions after a loss of 10,700 jobs in November, while the hot housing market showed signs of decline.Statistics Canada said on Friday that the unemployment rate had remained unchanged at 6.6 percent.Market analysts had expected an increase of 15,000 jobs. The two months of fairly small declines followed big gains in September and October.Full-time employment in December grew by 53,500 jobs, while ...

World - Global Business & Economy

Brazil narrowly meets 2014 inflation target BRASILIA: Brazil's government just met its 2014 inflation target, welcome news for policymakers expected to keep raising interest rates to regain investors' confidence and maintain prices under control.The inflation rate as measured by the benchmark IPCA index ended 2014 at 6.41 percent, government statistics agency IBGE said on Friday. That was in line with analysts' forecasts.Brazil targets annual inflation of 4.5 percent, with a tolerance margin of 2 percentage points.High inflation has haunted President Dilma ...

World - Global Business & Economy

US wholesale inventories rise solidly, may boost fourth-quarter GDP WASHINGTON: US wholesale inventories recorded their largest increase in seven months in November and October's stocks were revised higher, suggesting restocking may boost fourth-quarter growth.The Commerce Department said on Friday wholesale inventories rose 0.8 percent, despite an energy price-related decline in the value of petroleum stocks. October's wholesale stocks were revised up to show a 0.6 percent gain.Wall Street had expected wholesale inventories to rise only 0.3 percent in November following a previously reported 0.4 ...

World - Global Business & Economy

Moody's cuts UK retailer Tesco to ‘junk’ NEW YORK: Moody's Investors Service downgraded UK supermarket retailer Tesco to "junk" on Thursday, the first of the three major rating agencies to do so.Moody's cut the company's credit rating by one notch to Ba1 on expectations profits will remain challenged due to structural shifts in the UK grocery market.Tesco bonds had already sold off sharply earlier in the day, as fears spread that the UK supermarket group had perhaps not done enough to stave ...