Category: INTERNATIONAL
-
India’s budget to balance growth, fiscal restraint as Modi’s cash curbs dent economy
As India’s economy continues to reel in the aftermath of last year’s demonetization drive, Finance Minister Arun Jaitley must balance between the need for stimulating growth and continuing fiscal discipline when he presents the 2017-2018 budget on Wednesday. India’s fiscal year starts April 1, and the outlook has certainly changed from last year. Entering 2016…
-
Mitsubishi Motors expects smaller full-year loss on weaker yen
Mitsubishi Motors Corp (7211.T) on Tuesday said it expects a smaller full-year net loss than previously forecast due to lower costs and the impact of a weaker yen, after swinging to an operating profit for the third quarter. Japan’s sixth-largest carmaker, which is recovering from a mileage cheating scandal, posted an 8.4 billion yen ($73.85…
-
Asian shares rattled by Trump policy worries, dollar soft
Asian shares slipped on Tuesday as stringent curbs on travel to the United States ordered by President Donald Trump brought home to investors that he is serious about carrying out his controversial campaign pledges. Global stocks posted their biggest loss in six weeks on Monday after Trump signed an executive order to bar Syrian refugees…
-
How Toyota, Target, Best Buy are fighting back against Republican border tax push
Days before a group of Republican lawmakers were due to discuss their party’s controversial proposal to tax all imports, Toyota Motor Corp (7203.T) sent an urgent message to its U.S. dealers – tell the politicians the tax would seriously hurt car buyers. Some of Toyota’s 1,500 dealers heeded the call and contacted members of the…
-
Fed likely to keep rates steady as it awaits Trump economic plan
The U.S. Federal Reserve is expected to keep interest rates unchanged on Wednesday in its first policy decision since President Donald Trump took office, as the central bank awaits greater clarity on his economic policies. Trump has promised a large infrastructure spending program, tax cuts, a rollback of regulations and a renegotiation of trade deals…
-
Nigeria: Cross River Set to Float Airline, Shipping Line
Determined to boost the revenue base of the state as well as decouple it from its over dependence on federal allocation, the Cross River State Government has concluded plans to float an airline as well as a shipping line. Speaking with journalists in Calabar, Governor Ben Ayade said the state was taking full advantage of…
-
Egypt: Cairo Airport Bans Rights Lawyer Negad Al-Borai From Travel
Rights lawyer Negad Al-Borai was banned from travel on Thursday, security sources said in press statements. Al-Borai, director of the United Group law firm, was heading to Jordan for a family visit when he was banned from leaving upon an earlier decision by an investigations judge. The banning decision did not mention details on the…
-
Black Friday: South African retailers pushing consumers to shop till they drop
Retailers today are continually looking for ways to improve the effectiveness and efficiency of their sales promotion efforts. According to data released by Stats SA last week, retail sales for November 2016 were up by 3.8% mainly driven by Black Friday sales. From an overseas perspective, more than three-quarters (76%) of U.S. consumers spent money…
-
Mauritius business confidence rises in Q4 2016
Business confidence on the Indian Ocean island of Mauritius rose in the last quarter of 2016, a survey of leading private companies showed on Tuesday. The Mauritius Chamber of Commerce and Industry’s quarterly confidence index climbed 4.9 percent to 97.5 points. But the index remained well below the long-term average of 100 points. The Mauritius…
-
Ghanaian business leaders applaud Rwanda’s development efforts
Ghanaian leaders from the public and private sector have applauded Rwanda’s transformation journey following the 1994 Genocide against the Tutsi. The 20 Ghanaian business leaders, investors and government officials were in the country on a five-day business trip last week to learn from Rwanda’s success story, according to Kojo Akoto Boateng, one of the organisers…