Food prices’ rise push India’s August retail inflation to 5-month high
Businessam Staff
September 12, 2017
India’s consumer price inflation rose more than expected to a five-month high in August, fueled by strong gains in prices of food items, dampening chances of a rate cut by the central bank in a policy review next month amid weak economic growth. India’s consumer price index (CPI) INCPIY=ECI rose 3.36 percent in August from […]
Saudi wealth fund hires $111 billion-portfolio chief, sources say
Businessam StaffAugust 23, 2017
Saudi Arabia’s sovereign wealth fund, which is being transformed into a $2 trillion investment giant, hired Rashed Sharif as head of domestic investments, according to two people familiar with the matter, Bloomberg reports. Sharif, previously chief executive officer of Riyad Bank’s investment-banking unit, will be responsible for managing the Public Investment Fund’s $111 billion portfolio […]
World Bank not currently looking at financing projects in Iran, says spokesman
Businessam StaffAugust 22, 2017
The World Bank said Tuesday it was not currently looking to finance any projects in Iran, responding to Iranian government comments that the World Bank was considering financing railway electrification in the country. The head of Iran’s regional railway authority, Yusef Geranpasha, was quoted as saying by state news agency IRNA on Tuesday that the […]
China faces mounting debt challenge
Businessam StaffAugust 21, 2017
Corporate debt in China has soared to $18 trillion, or 169% of GDP, the largest pile of corporate debt in the world, according to the worried Bank for International Settlements. The OECD has warned about it earlier this year. The New York Fed warned about this debt boom in February and that it could lead […]
Saudi-led boycott takes toll on Qatar’s growth prospects
Businessam StaffAugust 17, 2017
Qatar’s economy will expand this year at the slowest pace since 1995, according to economists as the impact of a Saudi Arabia-led boycott is felt on trade and investor confidence. In the analysis surveyed and reported by Bloomberg, gross domestic product is expected to grow 2.5 percent in 2017 and 3.2 percent next year, compared […]
Japanese growth jumps in second quarter with the economy on its best run since 2005/6
Businessam StaffAugust 14, 2017
Japanese growth beat expectations, with the economy expanding at one per cent in the second quarter, it was announced Monday, according to City A.M. Gross domestic product rose by an annualised four per cent from April to June, the largest increase since the first quarter of 2015. Median expectations were 0.6 per cent for the […]
China set to ban North Korean iron, seafood imports
Businessam StaffAugust 14, 2017
China will halt iron, iron ore and seafood imports from North Korea starting Tuesday, following through on new UN sanctions after US pressure for Beijing to strong arm Pyongyang over its ally’s nuclear programme. The decision was announced on Monday after days of increasingly bellicose rhetoric between US President Donald Trump and Kim Jong-Un’s regime, […]
Indian traders may already have a good and simple trick or two to beat the GST
Businessam StaffJuly 26, 2017
Faced with the very real prospect of downward economic mobility, some Indian traders say they are likely to tiptoe around the Goods and Services Tax (GST), touted as the most effective way for a government to collect indirect taxes. The new tax regime was implemented in India from July 01. Under the new regime, it […]
Fitch says China’s regulation pledge could signal shift away from high growth targets
Businessam StaffJuly 20, 2017
Fitch Ratings said on Thursday China’s renewed commitment to contain financial risks signals a possible shift away from high economic growth targets, though policymakers are likely to remain cautious about tightening too aggressively. Chinese regulators and officials emphasized their commitment to tighter financial regulations at the recent National Financial Work Conference. The once-in-five-years meeting typically […]
Where Chinese millionaires want to move
Businessam StaffJuly 17, 2017
Chinese millionaires are warming up to Canada and cooling on Britain. But they’re still red-hot for the United States. That’s according to a survey by research firm Hurun Report and Visas Consulting Group that tracks immigration trends among Chinese individuals worth between 10 million and 200 million yuan ($1.5 million – $30 million). The U.S. […]