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Last update: Thu, 25 Aug 2016 12am

Global Business & Economy

World - Global Business & Economy

UK factory gate prices see biggest rise since 2014 after Brexit slump in sterling LONDON: British factory gate prices rose at their fastest pace in over two years as the fall in sterling after the vote to leave the European Union pushed up import prices, creating inflation pressure ahead. Producer prices rose by 0.3 percent in July, compared with the same month last year, stronger than a median forecast in a Reuters poll for no change in the month following the referendum.Consumer prices gathered a little bit of speed, rising by 0.6 percent in July compared with a year earlier, their biggest rise since the end of 2014. Economists in a Reuters poll had expected a 0.5 percent rise."There was no obvious impact on today's consumer prices figures following the EU referendum results though the Producer Prices Index suggests the fall in the exchange rate is beginning to push up import prices faced by manufacturers," Mike Prestwood, head of prices, at the Office for ...

World - Global Business & Economy

India's wholesale prices up 3.55pc y/y in July NEW DELHI: India's wholesale prices rose at a faster-than-expected pace in July, gaining 3.55 percent from a year earlier on higher food prices, government data showed on Tuesday. The data compared with a 2.55 percent annual rise forecast by economists in a Reuters poll. In June, prices rose a provisional 1.62 percent.Wholesale food prices last month rose 11.82 percent year-on-year, compared with a provisional 8.18 percent gain in June.Copyright Reuters, 2016 ...

World - Global Business & Economy

Economic growth in Peru slows to 3.6 percent in June LIMA: Economic growth in Peru slowed to 3.6 percent in June from a year earlier as a drop in construction and manufacturing activity partly offset a jump in copper output, state statistics agency Inei said on Monday. The official result for June was slightly below the 3.7 percent year-on-year expansion forecast in a Reuters poll and marked a slowdown from growth of 4.9 percent in May and 4 percent a year earlier. Year-on-year growth slowed ...

World - Global Business & Economy

Japan's economy stalls in April-June, casts doubts on Abe's policies TOKYO: Japan's economic growth ground to a halt in April-June as weak exports and shaky domestic demand prompted companies to cut spending, putting fresh pressure on premier Shinzo Abe to come up with policies that will produce more sustainable growth.The weak reading underscores the challenges policymakers face in ending two decades of crippling deflation, as an initial boost from Abe's stimulus programmes, dubbed "Abenomics", appears to be quickly fading.The world's third-largest economy expanded by an ...

World - Global Business & Economy

Vietnam's July coffee exports fall from June to 139,800 tonnes HANOI: Vietnam, the world's top robusta producer, exported 139,800 tonnes (2.33 million 60-kg bags) of coffee in July, down 11.8 percent from the previous month, the customs department said on Monday, below market expectations. That raises Vietnam's coffee exports between October 2015 and July this year, the first 10 months of the 2015/2016 crop year, to 1.46 million tonnes, up 31.5 percent from a year ago, based on government statistics.Traders had forecast coffee shipments in ...

World - Global Business & Economy

Indonesia July exports, imports disappoint as shrinkage continues JAKARTA: Hopes that Indonesia in July would end a long streak of declining exports and imports were shattered, as both tumbled on an annual basis during the holiday-shortened month. A Reuters poll of analysts had expected July to show the first growth of exports and imports in 22 months because of a low base effect from last year.But Indonesia's statistics bureau on Monday said exports and imports were even worse than last year, falling by ...

World - Global Business & Economy

Japan's economic growth fizzles out in second quarter TOKYO: Japan's economy stalled in the April-June quarter, data showed Monday, missing market forecasts and rekindling worries about the government's faltering bid to stoke a recovery.Growth in the world's third largest economy was flat at 0.0 percent on-quarter, falling below economists' expectations for a modest 0.2 percent expansion, as weak exports and a fall in business spending dented activity.On an annualised basis, the economy expanded by a slight 0.2 percent in the latest period, well ...