12042016Sun
Last update: Sun, 04 Dec 2016 09pm

Global Business & Economy

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US to probe imported Chinese sweeteners amid Celanese complaint WASHINGTON: The United States on Tuesday said it would investigate imports by three Chinese chemical companies that make high-potency sweeteners amid a complaint by Celanese Corp that the companies were violating US law. The US International Trade Commission, in a statement, said its investigation's targets are Suzhou Hope Technology Co, Anhui Jinhe Industrial Co, Vitasweet Co. Copyright Reuters, 2016 ...

World - Global Business & Economy

IMF says Bosnia must adopt key reform laws to get cash early in 2017 SARAJEVO: The International Monetary Fund agreed to resume its aid programme to Bosnia and disburse a new tranche under its 553.3 million euro ($586.22 million) loan if key reform laws and the 2017 budgets are adopted, an IMF senior official said on Tuesday. "We reached an agreement on moving ahead with the first review provided that certain conditions are met," said Nadeem Ilahi, the head of the IMF visiting mission to Bosnia, adding the fund's ...

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Canada retail sales rise in September, boosted by autos OTTAWA: Canadian retail sales picked up in September as auto purchases climbed for the first time in three months on demand for new cars, data from Statistics Canada showed on Tuesday, reinforcing expectations that economic growth rebounded in the third quarter. Retail sales rose 0.6 percent, in line with economists' expectations, but would have been flat without the increased purchases of cars and parts. Sales at motor vehicle and parts dealers led the way, rising ...

World - Global Business & Economy

IMF cuts Mexico growth outlook amid trade worries MEXICO CITY: Mexico is facing risks to its growth from trade protectionism, the International Monetary Fund said on Tuesday, as it cut its growth forecast for the coming years for Latin America's No. 2 economy.The IMF revised its forecast for Mexican gross domestic product growth for 2016 to 2.1 percent from a 2.5 percent rate seen in July, according to its annual Article IV report on the country. It cut its 2017 growth forecast to ...

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Euro zone consumer confidence rises to -6.1 in Nov BRUSSELS: Euro zone consumer confidence rose much more than expected by economists in November, figures released by the European Commission on Tuesday showed.A flash estimate showed euro zone consumer morale rose to -6.1 points from -8.0 points in October. Economists polled by Reuters had expected a rise to only -7.8 points.In the European Union as a whole, consumer sentiment rose by 0.7 points to -5.8.Copyright Reuters, 2016 ...

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Brazil raises revenues forecast with amnesty program proceeds BRASILIA: The Brazilian government increased its revenues estimate for 2016 by 26.9 billion reais ($8 billion) after receiving hefty proceeds from an asset amnesty program, the planning ministry said on Tuesday. Planning Minister Dyogo Oliveira told reporters he recommends the government use 16.2 billion reais of the proceeds to pay down accrued obligations that total about 180 billion reais.He said the government has not yet decided if it will share 5 billion reais in fines ...

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Hungarian wage deal helps rebound, central bank cuts o/n rate BUDAPEST: Central European assets firmed on Tuesday as investors unwound selling positions in emerging markets and Hungary agreed an increase of 15 percent to its minimum wage, a move seen boosting economic growth.The deal by government and employers to boost wages and cut payroll taxes in 2017 and in election year 2018 could increase inflation risks.Hungary's central bank, however, retained its dovish bias, keeping its 0.9 percent base rate on hold, but cutting its overnight ...