China’s contribution to global economic growth
LIU BAOKUI
December 27, 2017
The International Monetary Fund predicts that the world economy will grow by 3.6 percent this year and China’s economy will swell by 6.7 percent, contributing around 35 percent to global growth. This year, China’s economy has progressed steadily with new highlights emerging. This, coupled with China’s proactive role in improving global governance, is propelling the […]
Indian economy to overtake UK, France next year
Businessam StaffDecember 26, 2017
The surging Indian economy will overtake the UK and France during the course of 2018 to become the fifth largest in the world, according to forecasts published today. Continued booming growth in India will contribute towards a rapid reorientation of the world’s economy towards Asia over the next 15 years, according to the research by […]
China expects 2018 industrial output to grow around six percent
Businessam StaffDecember 25, 2017
China’s industrial output is likely to grow around 6 percent next year, the country’s industry ministry said on Monda, according to Reuters. The nation’s industrial output is also expected to rise about 6.5 percent this year, which would be the first gain in the growth rate since 2010, the Ministry of Industry and Information Technology […]
Saudi economy contracts for first time in 8 years, unveils record spending spree to boost growth
Businessam StaffDecember 20, 2017
Back when oil was at $100 and above, the Saudi economy was firing on all cylinders, and nobody even dreamed that the crown jewel of Saudi Arabia – Aramaco – would be on the IPO block in just a few years. However, with oil stuck firmly in the $50 range, things for the Saudi economy […]
China unveils plan for world’s biggest carbon-trading market
Businessam StaffDecember 19, 2017
China unveiled its plan for a national carbon market, creating the world’s biggest trading system for the climate-warming emissions. The market will initially involve only the power sector, National Development and Reform Commission Vice Chairman Zhang Yong said Tuesday at a briefing in Beijing. While that’s a pullback from a previous plan to include eight […]
Japanese business to start paying workers in bitcoin
Businessam StaffDecember 16, 2017
A Japanese business will begin paying its workers partially in bitcoin, in a bid to gain a better understanding of how the digital currency works, Agence France-Presse reports. Tech firm GMO Internet said it will pay up to 100,000 yen (£660) a month to approximately 4,000 employees via bitcoin from February next year, according to […]
South Korea building a $35bn city designed to eliminate the need for cars
Businessam StaffDecember 15, 2017
When residents of the International Business District (IBD) in Songdo, South Korea go to work, pick up their kids from school, or shop for groceries, driving is optional, according to a World Economic Forum (WEF) report. That’s because the $35 billion district — currently a work-in-progress about the size of downtown Boston — was designed […]
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 […]
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 […]
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 […]