U.K. industry output jumps amid oil rebound, record factory run
Businessam Staff
March 9, 2018
U.K. industrial production posted its biggest monthly increase in more than a year in January, figures Friday showed. The 1.3 percent gain from December came as factory output rose for an unprecedented ninth consecutive month and oil production rebounded following the reopening of a key North Sea pipeline. Manufacturers are benefiting from a synchronized global […]
EU palm oil curbs may stall France-Malaysia $2bn jet deal
Businessam StaffMarch 8, 2018
Malaysia, the world’s No.2 producer of palm oil Thursday said if the European Union does not rescind its decision to curb the importation of palm oil, France’s hopes of winning a $2 billion fighter jet deal with it would be impacted. According to a Reuters’ report, France’s Rafale jet, built by Dassault Aviation (AVMD.PA), had […]
We will regulate bitcoin if risks are not tackled- EU finance head
Businessam StaffFebruary 26, 2018
The European Union has warned that it will regulate cryptocurrencies if the risks exposed by the meteoric rise of bitcoin and its ilk are not addressed. The boom and bust of cryptocurrencies have seen some investors make millions where others have suffered heavy losses. Bitcoin, which now trades at about $9,000 (£8,000) a token but recently dropped to less […]
Swiss jobless rate stays at 8-month high of 3.3%
Businessam StaffFebruary 12, 2018
Swiss unadjusted unemployment rate came in at 3.3 percent in January of 2018, the same as in the prior month but slightly below market consensus of 3.4 percent. It remained the highest jobless rate since April 2017. In January, there were 149,161 unemployed persons enrolled at the regional employment centers, about 2,507 more persons than […]
EU economies grow at fastest rate in decade in 2017, latest figures show
Businessam StaffJanuary 31, 2018
The eurozone grew at its fastest rate in a decade in 2017, according to the latest official estimate. Eurostat said on Tuesday that the GDP of the currency area expanded by 2.5 per cent in the calendar year, the fastest rate of growth since a 3.4 per cent expansion in 2007, the year before the […]
Tourism, exports drive Portuguese economy, minister says
Businessam StaffJanuary 23, 2018
Portugal’s economy is growing in sectors from agriculture to software, not just tourism, and attracting investor interest from France and Germany to China and India, Manuel Caldeira Cabral, the economy minister said in an interview on the sidelines of the World Economic Forum in Davos on Tuesday. Growth in tourism is “the story that’s already known,” […]
Norway’s $1trn oil fund taken to task over rising cost
Businessam StaffJanuary 18, 2018
Norway’s finance ministry rejected a proposed cost ceiling from the nation’s wealth fund, questioning the investor over the rising expense of managing the $1.1 trillion piggy bank. The cost limit will be set at 7 basis points of assets this year, lower than the 7.5 basis points proposed by the fund, according to a letter […]
Economy in eurozone expected to grow strongly- Think tanks
Businessam StaffJanuary 11, 2018
The economy in the euro area is expected to grow strongly in the first two quarters of 2018, three think tanks said on Wednesday in a joint forecast report. Economic output in the euro area is expected to grow respectively by 0.6 percent, 0.6 percent and 0.5 percent in the fourth quarter of 2017, in […]
Blow to Uber as E.U court rules it a cab firm
Businessam StaffDecember 20, 2017
Uber, the ride-hailing firm, suffered a major blow Wednesday as Europe’s top court, the European Court of Justice (ECJ) finally gave verdict on a multi-year legal challenge brought by EU taxi associations to Uber’s claim that it’s just a technology platform. Specifically, the ECJ ruled that it is a transport service firm. The judgment means […]
German industrial output shrinks for second month
Businessam StaffDecember 7, 2017
German industrial production unexpectedly declined for a second month in October as workers took extra days off, interrupting a run that put Europe’s largest economy on track toward its best performance in six years. Output declined 1.4 percent from September, when it fell a revised 0.9 percent, the Economy Ministry in Berlin said on Thursday. […]