EU trade chief fixes January US trip in bid to ease tensions

Brussels: The European Union’s new trade chief plans to visit Washington on Jan. 14-16 a bid to repair transatlantic relations frayed by US measures against imports from the bloc and its attacks on the global commercial order. Phil Hogan will meet US Trade Representative Robert Lighthizer to discuss disputes including an American threat to hit […]

Hong Kong retail sales weaken again as tourism plunges

Hong Kong: Hong Kong’s retail sales posted another double-digit decline in November as visitor arrivals to the financial centre plunged. Retail sales by value retreated 23.6 per cent in the month from a year earlier, slightly better than the economists’ consensus forecast and extending the run of declines to ten months. By volume, sales contracted […]

Manufacturing weakness dents Germany’s labour market

BERLIN: German unemployment rose more than expected in December, data showed on Friday, adding to signs that weakness in the manufacturing sector is hurting the labour market in Europe’s biggest economy. Data from the Federal Labour Office showed the number of people out of work rose by 8,000 to 2.279 million in seasonally adjusted terms. […]

Turkish inflation rises to 11.8%, window for more rate cuts narrows

ISTANBUL: Turkey’s annual inflation rate rose slightly more than expected to 11.84 per cent in December, official data showed on Friday, ending the year close to a government target and probably narrowing the window for more interest rate cuts in 2020. The Turkish government, which pushed the central bank for aggressive monetary easing last year […]

Fed arms Trump’s trade doves with evidence of tariff damage

New York: If President Donald Trump kicked off 2019 saying the US was reaping “MANY billions of dollars from the tariffs we are charging China,” the Federal Reserve had perhaps the year’s final say on the economic impact. While many people celebrated the holidays last week, the US central bank published a study trying to […]