Indian inflation probably breached central bank target in December

BENGALURU: Rising vegetable prices probably pushed Indian retail inflation to its highest in more than five years in December, exceeding the Reserve Bank of India’s medium-term target of 4 per cent for a third straight month, a Reuters poll of economists predicted. The median forecast in the January 3-8 Reuters poll of nearly 50 economists […]

$170 billion and counting — the cost of Brexit for the UK

Zurich: UK Prime Minister Boris Johnson wants to “unleash Britain’s potential.” First the economy has to catch back up with the rest of the world. Research by Bloomberg Economics estimates that the economic cost of Brexit has already hit ÂŁ130 billion ($170 billion), with a further ÂŁ70 billion set to be added by the end […]

Samsung pares losses on improved chip demand

(Bloomberg): Samsung Electronics Co.’s quarterly earnings beat estimates after memory chip prices began to climb out of a persistent downturn. The world’s largest memory chip maker reported a 34 per cent fall in operating income to 7.1 trillion won ($6.1 billion) in the three months ending December, according to preliminary results. In mobile devices, Samsung […]

World’s largest car market reports second straight annual decline

Beijing: Car sales in China continued to fall in December, capping a second straight annual drop, though a slowing pace of declines suggests the world’s biggest market may be close to a bottom. Sales of sedans, sport utility vehicles, minivans and multipurpose vehicles fell 3.6% last month from a year earlier to 2.17 million units, […]

India sees slowest growth in more than a decade

New Delhi: India’s economy is on track for its slowest growth since 2009, weighed down by a shadow banking crisis, weak investment and a slump in spending. Gross domestic product will grow 5 per cent in the year through March 2020, the Statistics Ministry said in a statement in New Delhi on Tuesday. That is […]