Investors retreat from European equity funds, dash into US

Investors poured money into US equity funds and pulled it…

Finnish economic growth fastest in 5 years

Finland recorded its highest annual economic growth rate since 2011…

China import fees compound Mongolia’s Dalai Lama woes

A remote Chinese border town in the Gobi desert has…

Eurozone producer prices rise ahead of expectations

Rising prices in the energy sector have helped push up…

China capital curbs sow doubt over renminbi ambitions

Over recent years Chinese people and companies have been able…

Foreign investment in UK shoots up in 2015

Financial services and IT helped drive up UK foreign direct…



Chinese

China import fees compound Mongolia’s Dalai Lama woes

A remote Chinese border town in the Gobi desert has slapped transport surcharges on copper shipments from Rio Tinto’s Mongolian Oyu Tolgoi mine, an attempt to pay off the town’s debts that comes on the heels of a bilateral row…

China capital curbs sow doubt over renminbi ambitions

Over recent years Chinese people and companies have been able to vote — with their money.  But this week the ruling Communist party quietly introduced a series of capital control measures that have made it harder for private individuals and executives…

China tightens gold import quotas to ease dollar outflow

China has curbed gold imports in the wake of government attempts to clamp down on capital leaving the country, according to traders and bankers. Some banks with licences have recently had difficulty obtaining approval to import gold, they said —…

For China, Europe is the new Africa

China is known for its patience. A century is but a page in the book of its history. We Europeans are much more edgy. First we lamented that our manufacturing jobs were stolen by China. Then we worried about the…

China’s challenges and their global risks

For two decades China’s economy – second in size only to that of the US – roared ahead at annual double-digit rates of growth. This year, according to official data, it is growing at 6.7 per cent. The current rate…

Indian

India: Narendra Modi’s bonfire of the rupees

India, at the start of this year, began requiring retailers that received more than Rs200,000 ($3,000) in cash from a customer to report details of the sale — and the buyer’s taxpayer identification number — to tax officials. The impact…

Indian annual inflation falls to 14-month low

India’s annual inflation rate fell to its lowest level since August 2015 last month, driven lower by falling food prices in Asia’s second largest economy. Year on year consumer prices grew by 4.2 per cent in October, slipping from September’s…

Modi seeks to rally public behind India’s currency crackdown

Indian prime minister Narendra Modi sought on Monday to rally public support for his draconian decision to scrap most of the country’s existing banknotes, while the government urged citizens struggling to obtain cash not to panic. Speaking at large political…

My quest for cash in Modi’s India

I had just slapped a Rs500 note on the counter of a south Indian snack stand when my phone rang. “Are you watching Modi’s speech on television,” my colleague said excitedly. “I think he’s scrapping all Rs500 and Rs1,000 notes.”…

India’s cash chaos sparks growing backlash

Indians’ desperate quest for cash intensified at the weekend, as public resentment grew at New Delhi’s chaotic effort to replace more than $220bn in cash with new currency notes in a matter of weeks. Crowds queueing at India’s banks grew…

India scraps high-value banknotes in black economy clampdown

India unexpectedly scrapped all larger-denomination banknotes overnight in what New Delhi said was a move to stop counterfeiting and clamp down on the black economy. Prime Minister Narendra Modi said 500 and 1,000 rupee notes — worth around $7.50 and…

Europe

Foreign investment in UK shoots up in 2015

Financial services and IT helped drive up UK foreign direct investment last year, offsetting a decline in inflows to oil and gas. Net flows to the UK from foreign companies rose to £21.6bn in 2015 from £15bn in 2014. The…

Former EU creditors to Ireland voice concerns on its economic model

Ireland’s former EU creditors have voiced their concerns over the sustainability of the country’s record levels of economic growth, warning there were “some clouds on the horizon” in the former bailout economy. Considered a poster child in the eurozone following…

Finnish economic growth fastest in 5 years

Finland recorded its highest annual economic growth rate since 2011 in the third quarter, further raising hopes that the worst is over for the economy after the decline of national champions such as Nokia contributed to three years of recession.…

Switzerland disappoints as economy flatlines in 3Q

Unlike its famous mountains, Switzerland’s economy was as flat as a tack in the September quarter as consumption remained weak and exports declined. Switzerland’s economic growth was zero in the three months ended September 30, from the 0.6 per cent…

Eurozone producer prices rise ahead of expectations

Rising prices in the energy sector have helped push up producer prices in the eurozone to increase twice as quickly as expected in October. An early gauge of inflationary pressures building in an economy, producer prices climbed 0.8 per cent…

For China, Europe is the new Africa

China is known for its patience. A century is but a page in the book of its history. We Europeans are much more edgy. First we lamented that our manufacturing jobs were stolen by China. Then we worried about the…

Weak euro helps eurozone manufacturers enjoy best month since 2014

Political risk? What political risk? Factories in the eurozone enjoyed their best month since the start of 2014 in November, supported by a weakening currency and strong performances in its northern economies, according to an influential business survey of the…

Spanish manufacturing beats forecasts – IHS Markit

Spanish manufacturers reported a third successive month of improvement in November, with a closely-watched business index rising to its highest level since January. Markit’s purchasing managers’ survey for the sector came in at 54.5, beating economist forecasts for the second…

Middle Eastern

Opec oil output cut brings relief to Saudi Arabia

Opec’s market moving deal to cut output by 1.2m barrels a day has come as a relief to Saudi Arabia, the main force behind the accord, as Riyadh struggles to break out of a deep fiscal deficit. The assumption in…

This deal is the beginning of the end for Opec

The deal agreed by Opec members this week will come to symbolise the passing of one of the world’s most powerful cartels. After 50 years in control of the oil price, Opec has submitted to the economic power of a…

Egypt and the IMF: a good start, but only a start

Egypt’s agreement with the IMF on a $12bn, three-year loan will help finance Egypt’s import needs while cushioning the effects of the reduction in fuel subsidies and the floating of the pound, prior actions that had been demanded by the…

Saudi Arabia set to reveal depth of oil reserves

Saudi Arabia is set to lift the lid on one of the global energy industry’s most closely guarded secrets as it prepares to sell shares in Saudi Aramco: how much crude lies beneath the desert kingdom’s sands. “This is going…

Syrian economy in tatters after 5 years of war

In his tiny office, tucked behind stacks of olive oil soap and bags of pistachios stored in an arcaded courtyard in the main market of Damascus, Abu Abdallah laments the difficulties of doing business in war-torn Syria. The food wholesaler,…