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INDIA (Reuters) — A gold rush in India. Jewellers across the country seeing a massive surge in people wanting to spend big on the country’s favourite precious metal, despite New Delhi’s recent shock cash crunch. Imports surged 82 percent in February, compared to the same time last year. That translates to 50 tonnes of gold. Reuters Euan Rocha explains what’s leading the turnaround. “Big factors in the Indian market without a doubt is wedding season. […]
BEIJING, China (Reuters) — China said on Monday (March 6) continued economic growth needed to maintain employment, and will take further steps to support private investment. “Because China is a country with almost 1.4 billion people, employment is a really important issue. Without a certain level of economic growth, a certain quality of economic growth, creating enough employment opportunities would be very difficult. Based on our experience and understanding of the rules roughly, every increase […]
by Dmitry ZAKS KIEV, Ukraine (AFP) — The International Monetary Fund said Saturday it had reached a preliminary agreement with Ukraine that could see the war-scarred and cashed-starved nation receive fresh aid in the first half of the year. The news was particularly good for the ex-Soviet republic because the IMF statement referred to a loan of $1 billion (0.9 billion euros) and not the lesser sums discussed in earlier months. Ukraine also gets […]
by Sophie BOUILLON, Josue MEHOUENOU Agence France-Presse OUIDAH, Benin (AFP) — With its palm tree-lined beaches, unique heritage and wildlife parks, Benin can hold its own against the best African holiday destinations. But tourism revenue accounts for just 0.7 percent of gross domestic product and there were only 240,000 visitors in 2014, according to World Bank figures. That compares to an average of one million visitors a year in Senegal, which is one of the most […]
SYDNEY, Australia (AFP) — Australia’s economy rebounded strongly in the December quarter, growing by 1.1 percent to avoid a technical recession on the back of buoyant exports and consumer spending, data showed Wednesday. The stellar bounceback followed a shock contraction of 0.5 percent in the three months to September — the worst result in eight years. The latest Australian Bureau of Statistics data put the annual rate of growth at 2.4 percent, from 1.8 percent […]
HONG KONG, China (AFP) — Asian nations must spend $26 trillion by 2030 on infrastructure to battle poverty, boost economic growth and fight climate change, the Asian Development Bank warned on Tuesday. In its “Meeting Asia’s infrastructure needs” report, the lender said governments in some of the poorest countries in the world should invest in everything from transport, telecommunications, power and water and sanitation. It added that despite dramatic infrastructure growth in recent decades, more […]
by Danny McCord Agence France-Presse HONGKONG, China (AFP) — Asian markets kicked the week off with losses Monday, with Tokyo hit by a stronger yen, as the global Trump rally shows signs of fragility before a key speech by the new president to Congress. A record 11th successive all-time high close for New York’s Dow was not enough to inspire investors who are growing worried that the recent buying — fuelled by expectations Donald Trump […]
by David Harding Agence France-Presse RAS LAFFAN, QATAR (AFP) — Perched on a northern tip of Qatar, about an hour’s drive from the gleaming capital Doha and at the end of “Route 77”, stands the secretive city of Ras Laffan. Behind its closely guarded gates, Ras Laffan is home to 30,000 people, the best white truffles in Qatar, apparently, and a turtle conservation project. It is also one of the most significant industrial sites on […]
SURIGAO DEL SUR, Philippines (Reuters) — Pristine waterfalls and crystal clear lagoons may soon be the new economic drivers in the southern Philippines as the government continues its crackdown on erring mines. Attracting hundreds of Filipino and foreign visitors a day, tourist spots Tinuy-an Waterfalls and Enchanted River in the southern province of Surigao Del Sur are among the eco-tourism destinations marked for development by the environment ministry to provide alternative livelihoods for mining communities. […]
TOKYO, Japan (AFP) — Tokyo stocks fell Thursday morning as profit-taking and a stronger yen overshadowed a fifth successive record close on Wall Street. New York’s three main indexes pressed on with their surge after figures showed US inflation hit a four-year high in January, fuelling bets on an interest rate hike soon. US equities have soared since President Donald Trump last week vowed to release details of his promised tax cut plan within two […]
NEW YORK, United States (AFP) — Wall Street stocks pushed to fresh highs for the fifth day in a row Wednesday, giving a boost to most international equity markets on continued optimism about US economic prospects. US stocks have been on a tear since last week when President Donald Trump vowed to release details of his promised tax cut plan within two to three weeks. On Wednesday, Trump reiterated that he would soon release specifics […]
BEIJING, China (AFP) — Prices for goods at the factory gate in China beat expectations in January, officials said Tuesday, rising for a fifth straight month in a positive sign of strengthening demand as the world’s second-largest economy stabilizes. The producer price index (PPI) rose 6.9 percent year-on-year in the month, according to the National Bureau of Statistics, outstripping an economist estimate of a 6.5 percent increase in a Bloomberg News survey. The consumer price […]
