Monday , 26 July 2021
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Category Archives: Global Economy

Unilever India arm posts 14.7pc net profit jump

Agency from India India’s biggest consumer goods maker Hindustan Unilever, the local unit of giant Anglo-Dutch Unilever, announced Monday a surprise 14.7 percent rise in net profit for the January-March quarter. The firm said net profit came in at 7.87 billion rupees ($145 million) in the final three months of the fiscal year, from 6.86 billion rupees a year earlier. ... Read More »

Greece offers residence to foreign investors

Agency from Athens Greece will be offering residence to non- EU investors purchasing or renting property over 250,000 euros ($326,000), in a bid to revive its moribund real estate industry, officials said yesterday. The initiative, voted into law by parliament last week, comes in response to strong demand from Arab, Chinese and Russian investors, the officials from the interior ministry ... Read More »

Asia-Pacific countries poised to start free trade talks Agency Report Preparations are made to the meeting area inside the prime minister’s complex in Bandar Seri Begawan in Brunei yesterday, a day before a meeting by leaders of the Association of Southeast Asian Nations. Photo: AFP Sixteen Asia-Pacific countries are set to start talks next month on a free trade zone ... Read More »

G-20 for reforms in IMF’s governance, quota issues

Nazmul Ahsan Finance Ministers and Governors from G-20 (Group of Twenty) countries have adopted 14-point communiqué, making commitments to refrain themselves from competitive devaluation of their currencies and not to target each other’s exchange rate in a bid to raise their economic growth rate and create more jobs. The Group at a meeting at the headquarters of International Monetary Fund ... Read More »

Developing nations performing better in global economy: Kim

Nazmul Ahsan President of the World Bank (WB) Group Jim Yong Kim said developing countries are performing better in the global economy as the rich nations are struggling hard with their economic fragility. Mr Kim made this observation on Thursday at the headquarters of International Monetary Fund (IMF) in Washington DC, ahead of annual Spring Meeting of the WB-IMF. The ... Read More »

Weak global economy key worry as IMF, World Bank meet Advanced and developing countries alike voiced worries over fragile global growth eurozone stagnation and the swamp of excess monetary liquidity as the IMF and World Bank spring meetings kicked off yesterday. Calls continued from multiple fronts for countries to ease harsh austerity programs to boost growth and, at the same time for the world’s central bankers to be more cautious ... Read More »

Japan, US agree on joining Trans-Pacific trade talks

 Agency from Tokyo Japan and the United States have agreed on a deal to allow Tokyo to join talks on a U.S.-led Asia-Pacific free trade pact that Prime Minister Shinzo Abe is making a keystone of his strategy to open Japan’s economy and spur long-sought growth. The agreement brings Japan closer to entering talks on the Trans-Pacific Partnership (TPP), which ... Read More »

Dollar hovers near 100 yen in Asian trade

Desk Report The dollar was lingering just below the 100 yen level in Asian trade on Thursday as the Japanese unit resisted further losses following last week’s huge stimulus from the Bank of Japan. The dollar was quoted at 99.56 yen in Tokyo afternoon trade against 99.76 yen in New York Wednesday afternoon. The euro slipped to 130.07 yen against ... Read More »