01182017Wed
Last update: Wed, 18 Jan 2017 10am

Global Business & Economy

World - Global Business & Economy

Portugal December CPI flat, up 0.9pc year-on-year LISBON: Portuguese consumer prices were flat in December after falling 0.5 percent the previous month, but year-on-year inflation was 0.9 percent, official data showed on Wednesday. The National Statistics Institute said that petrol and transport costs rose in December while clothing prices fell. December's yearly inflation rate of 0.9 percent was up from 0.6 percent in November and was mainly boosted by petrol prices that rose 10.7 percent through 2016. Average annual inflation in 2016 was 0.6 percent, up from 0.5 percent in 2015. Copyright Reuters, 2017 ...

World - Global Business & Economy

China to expand funding channels for small firms BEIJING: China will expand funding channels for small and medium-sized firms, according to a statement posted on the website of its State Council, or cabinet, citing a meeting led by Premier Li Keqiang. Regional share markets should develop in line with regulations, the statement added, and focus on servicing the needs of small and medium-sized firms. These measures are important aspects of China's supply side reforms and efforts to improve multiple levels of capital markets. ...

World - Global Business & Economy

Brazil meets 2016 inflation target BRASILIA: Brazil's inflation finished 2016 within the official target range, government data showed on Wednesday, reinforcing calls for an aggressive cycle of interest rate cuts by the central bank as the economy remains mired in recession.Consumer prices rose 6.29 percent in 2016, slowing from an increase of 10.67 percent in 2015 and below the 6.5 percent ceiling of the official goal.Prices rose 0.30 percent in December from November, slightly below market forecasts for an increase ...

World - Global Business & Economy

Germany's Jan-Nov oil import bill down 22.9pc, volume up FRANKFURT: Germany spent 23.3 billion euros ($24.7 billion) on crude oil imports in the first 11 months of 2016, 22.9 percent less than a year earlier due to lower prices, while volumes rose slightly, BAFA foreign trade office data showed on Tuesday.Russia was top supplier, shipping 39.0 percent of the total, up from 35.3 percent a year earlier despite calls from the European Commission for EU members to diversify away from Russian energy supplies.The British ...

World - Global Business & Economy

US wholesale inventories post biggest rise in two years WASHINGTON: US wholesale inventories in November rose slightly more than previously reported, posting their largest gain in two years and suggesting inventory investment would again support economic growth in the fourth quarter. The Commerce Department said on Tuesday wholesale inventories rose 1.0 percent after slipping 0.1 percent in October. That was the largest increase since November 2014. The department reported last month that wholesale inventories rose 0.9 percent in November. The component of wholesale inventories ...

World - Global Business & Economy

Algeria says fund to cover budget deficits declining ALGIERS: Resources for the state fund intended to cover Algeria's budget deficits had declined by 59.5 percent at the end of 2016 from the previous year because of falling oil prices, Finance Minister Hadji Baba Ammi said. State finances were already under pressure in Algeria, where the government had forecast foreign exchange reserves would reach $114 billion by the end of last year, from $144 billion in 2015 and $178 billion the previous year. Oil ...

World - Global Business & Economy

Egypt's core inflation jumps to 25.86pc yr/yr in Dec CAIRO: Egypt's annual core inflation jumped to 25.86 percent in December from 20.73 percent in November, the central bank said on Tuesday. The jump is the second in as many months since the central bank ditched its peg of 8.8 Egyptian pounds to the dollar on Nov.3, floating the currency and allowing it to roughly halve in value. Annual urban consumer price inflation also jumped for the second month since the float to 23.3 percent ...