UK public becoming more pessimistic over Brexit’s economic impact, Bank of England reveals
Businessam Staff
December 15, 2017
A major new survey for the Bank of England has found that the British public has become more pessimistic about the economic impact of country’s withdrawal from the European Union (EU). According to The independent, a survey by NMG of some 6,000 households, conducted in September, shows that the proportion of households expecting to leave the European […]
May urges EU leaders to move on with Brexit talks
Businessam StaffDecember 14, 2017
Theresa May, British Prime Minister, will urge European Union leaders to approve an agreement to move Brexit talks on to a second phase on Thursday, describing it as a fair deal that offers a good base for a discussion of future ties. According to report by Reuters, at the beginning of a dinner in Brussels, 24 […]
China’s central bank raises market rates as data shows economic growth moderating
Businessam StaffDecember 14, 2017
China’s central bank on Thursday nudged up money market rates as authorities sought to defuse financial risks without imperiling the economy, a balancing act that it has managed successfully so far this year as activity remained broadly steady. The move by the People’s Bank of China (PBOC) is widely seen as a backdoor approach that […]
India to buy world’s emptiest airport in its battle for territorial dominance with China
Businessam StaffDecember 13, 2017
India is buying Sri Lanka’s second-largest airport, despite it only handling a dozen passengers a day. China recently took control of a nearby port that opens up significant trade routes, and India is worried about China’s growing role in the Indian Ocean. Experts say the $300 million investment by India is an attempt to limit […]
Cinema to contribute $24bn to Saudi economy
Businessam StaffDecember 12, 2017
The Saudi Arabian Ministry of Culture and Information has estimated the contribution of the cinema sector to its GDP to be over $24 billion (90 billion riyals) after its launch soon. According to the ministry, employment generated by the cinema industry will create a large impact on the economy which will increase the media market […]
2017 set to be worst year for UK consumer spending since 2012, Visa says
Businessam StaffDecember 11, 2017
UK consumer spending declined for a third consecutive month in November, putting 2017 on track to be the worst year for expenditure since 2012, new data reveals. Figures published by Visa on Monday show that household spending fell by 0.9 per cent on the same month a year ago, following a 2.1 per cent decline […]
Why North Korea’s economy survives sanction after sanction
Businessam StaffDecember 9, 2017
A lot of US allies aren’t following through on their promises. The Trump administration has sought to rein in North Korea’s nuclear program by passing tougher and tougher sanctions designed to punish its economy. A new study shows why that isn’t working. A whopping 49 countries have violated UN Security Council sanctions imposed on North […]
Zimbabwe to relax black ownership laws, increase tax revenues for economic growth
Businessam StaffDecember 8, 2017
Zimbabwe will trim spending and relax laws that require black citizens to hold majority stakes in companies as well as increase tax revenue as it looks to restore confidence and boost economic growth, according to Patrick Chinamasa, its finance minister The measures will reduce the Southern African nation’s fiscal deficit to 3.5 percent of gross […]
World Bank cuts down Kenya growth outlook over credit, spending
BloombergDecember 7, 2017
The World Bank lowered its economic growth forecasts for Kenya as delays in spending cuts, weak credit extension, and political uncertainty curb expansion prospects. East Africa’s biggest economy may grow 4.9 percent this year, the slowest pace since 2011, the Washington-based lender said in a report released Thursday. That compares with an April forecast of […]
China’s growth objectives clash with financial stability goal – IMF
Businessam StaffDecember 7, 2017
China should prioritise financial stability above development goals, as a pursuit of regional growth targets and helping firms avoid heavy job losses had led to a surge in debt, particularly at the local government level, the International Monetary Fund said. Noting a lack of coordination and inadequate systemic risk analysis, in a report released on […]