Disappointing factory activity threatens global growth

LONDON, HONG KONG Factory activity was at its weakest in years across much of the world during January, adding to worries trade tariffs, political uncertainty and cooling demand poses an increasing threat to global growth. Weak Purchasing Managers Index (PMI) readings reinforce expectations central banks will put any further interest rate hikes on hold this […]

India budget ditches fiscal targets for votes

Dubai: India’s Finance Minister Piyush Goyal, presented the interim budget for 2019-20 fiscal year with promises of massive sops for farmers, weaker sections of the society and the salary earners who constitute the majority of voters in the country. The biggest budget proposal came in the form of doubling the personal income tax limit from […]

Honda lifts forecasts despite ninth-month profit drop

TOKYO. Japan’s Honda Motor said Friday it was revising up forecasts for its full-year net profit despite logging a fall of 34.5 per cent for the nine months to December. The country’s third-largest automaker revised up its full year net profit to 695 billion yen ($6.3 billion) from the previous forecast of 675 billion yen, […]

Eurozone inflation falls, though core rate inches higher

BRUSSELS, FRANKFURT. Eurozone inflation dipped as expected last month, falling further from the European Central Bank’s target and providing yet another reason for the bank to slow down in removing stimulus. Inflation in the 19 countries sharing the euro slowed to 1.4 per cent from 1.6 per cent a month earlier, Eurostat said on Friday, […]

Facebook posts record profit as it gains more users

San Francisco: Facebook said Wednesday quarterly profit climbed to an all-time record $6.9 billion as it boosted its global user base despite scandals that have dented the leading social network’s image. Revenue soared 30 per cent from a year ago to $16.9 billion (Dh62 billion) while the number of people using it monthly rose nine […]