05012016Sun
Last update: Sun, 01 May 2016 08pm

Global Business & Economy

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Israel jobless rate 5.3pc in Q1 vs 5.2pc in Q4 JERUSALEM: Israel's unemployment rate edged higher to 5.3 percent in the first quarter of 2016 from 5.2 percent in the fourth quarter of last year, the Central Bureau of Statistics said on Thursday.The number of employed in the January-March period rose to 3.693 million from 3.681 million in the fourth quarter, with 60.8 percent of those 15 and older having jobs, versus 60.9 percent in the prior three months, the bureau said.The participation rate in the labour force of those 15 years old and above was unchanged at 64.2 percent.The jobless rate for March was 5.3 percent, the same as in February.Israel's economy is expected to grow 2.8 percent this year after a 2.5 percent pace in 2015. Copyright Reuters, 2016 ...

World - Global Business & Economy

US jobless claims drop to 42-1/2 year low as labor market firms WASHINGTON: The number of Americans filing for unemployment benefits unexpectedly fell last week, hitting its lowest level since 1973, suggesting the labor market continued to gain momentum despite weak economic growth.Initial claims for state unemployment benefits declined 6,000 to a seasonally adjusted 247,000 for the week ended April 16, the lowest reading since November 1973, the Labor Department said on Thursday. Claims for the prior week were unrevised.Economists polled by Reuters had forecast claims rising ...

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Bangladesh rejects 100,000 tonne of Russian wheat SINGAPORE/DHAKA: Bangladesh has rejected two cargoes of Russian wheat totalling 100,000 tonnes, on concerns over the quality of grains, officials and traders said on Thursday. Russian grain experts are in Bangladesh to carry out tests and discuss reported problems concerning Russian wheat shipments, Russia's food safety watchdog said.One cargo of 50,000 tonnes was sold at $215.87 a tonne, including CIF liner out, in a tender. This cargo has been rejected after the lab test confirmed ...

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India's 2015/16 natural rubber imports rise 2.8pc y/y MUMBAI: India's natural rubber imports in fiscal year 2015/16 rose 2.8 percent from a year earlier to 454,303 tonnes, due to a decline in domestic production, the Rubber Board said on Thursday. Natural rubber production fell 12.7 percent to 563,000 tonnes, while consumption eased 3.3 percent to 987,540 tonnes in the year ended March 31, the state-run body said in a statement.India imports natural rubber mainly from Indonesia, Vietnam and Thailand.Copyright Reuters, 2016 ...

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Spain trade deficit falls 13.6 pct in February y/y MADRID: Spain's trade deficit fell 13.6 percent in February from a year earlier to 1.76 billion euros ($1.99 billion), as imports outstripped exports, the economy ministry said on Thursday. Exports in February rose 2.7 percent compared to a year earlier to 20.39 billion euros, the highest level registered on record for that month, while imports were up 1.2 percent year on year to 22.15 billion euros, the ministry said.In the first two months of the ...

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China to strictly control credit for new coal, steel projects BEIJING: China will strictly control credit available for new capacity additions in the steel and coal sectors, both of which are suffering from price sapping supply gluts, the government said on Thursday. Beijing will also boost state support for the export of steel and coal by encouraging firms to shift capacity abroad as part of its efforts to ease domestic overcapacity, according to a joint statement issued by the central bank and several other government ...

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Venezuela to ration electricity in power crisis CARACAS:Recession-wracked Venezuela is to ration electricity in 10 of its most populous and industrialized states, including metropolitan Caracas, the socialist government said Wednesday.It is the latest drastic measure to alleviate a severe electricity crisis which President Nicolas Maduro and his government blame on the El Nino weather phenomenon that causes drought.Critics say it's the result of years of economic mismanagement.Luis Motta Dominguez, minister for electric power, made the announcement during a televised broadcast and said ...