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India edible oil fights losing battle against cheap palm oil imports

India edible oil fights losing battle against cheap palm oil imports

DEWAS: Rajesh Agrawal had built two large oilseed crushing mills in central India, betting on rising local consumption of edible oils. But now after 30 years of soaring demand and good business, his main mill is shut and covered in grass. Agrawal’s shuttered soybean plant highlights the malaise gripping Indian crushers, who have been forced […]

September 3, 2015 | By | Reply More
IMF staff warn G20 of increasing downside economic growth risks

IMF staff warn G20 of increasing downside economic growth risks

WASHINGTON: Downside risks to the global economy have risen and a combination of threats including slower growth in China and rising market volatility could severely cut the outlook, International Monetary Fund staff warned on Wednesday. A note prepared by IMF staff for a meeting of Group of 20 finance officials describes a cocktail of potentially […]

September 3, 2015 | By | Reply More
Reebok heads back to the gym with new German marketing blitz

Reebok heads back to the gym with new German marketing blitz

BERLIN: German sportswear firm Adidas is underlining its commitment to struggling US brand Reebok by stepping up a major marketing campaign that returns it to its roots in the personal fitness business. Reebok, which had its heyday as the most popular US sneaker brand in the 1980s when aerobics was booming, has suffered a steady […]

September 3, 2015 | By | Reply More
As stocks tumble, Indian pharma, Taiwan tech lure smart money

As stocks tumble, Indian pharma, Taiwan tech lure smart money

SINGAPORE: Asia’s tumbling stocks have triggered an exodus of funds from the region, but some investors say the sell-off has been indiscriminate and that certain stocks offer compelling buying opportunities. The downturn in equities has been exacerbated by steep falls in Asian currencies, which have taken multiple blows from a sputtering Chinese economy, the unexpected […]

September 2, 2015 | By | Reply More
RHB says it offers voluntary exit scheme to employees

RHB says it offers voluntary exit scheme to employees

RHB’s voluntary exit scheme also comes at a time where investment banking activities have slowed in Southeast Asia. KUALA LUMPUR: RHB Banking Group, Malaysia’s fourth-biggest bank by assets, said on Wednesday it is offering a voluntary exit option to all permanent employees in Malaysia, in a bid to improve productivity. The offer is valid from […]

September 2, 2015 | By | Reply More
Hit by cheap oil, Canada’s economy falls into recession

Hit by cheap oil, Canada’s economy falls into recession

OTTAWA: The Canadian economy shrank again in the second quarter, putting the country in recession for the first time since the financial crisis, with a plunge in oil prices spurring companies to chop business investment. The confirmation on Tuesday of a modest recession will figure heavily into the election campaign as Canadians head to the […]

September 2, 2015 | By | Reply More
Australia’s economy slows as mining activity, exports weaken

Australia’s economy slows as mining activity, exports weaken

SYDNEY: Australia’s economy expanded at its slowest quarterly pace for more than two years as mining and construction activity fell and exports declined, data showed Wednesday, hit by weakening growth in its biggest trading partner China. Economic growth expanded by a slower-than-expected 0.2 percent in April to June, taking the annual rate of expansion to […]

September 2, 2015 | By | Reply More
Indonesia is better prepared to face global volatility

Indonesia is better prepared to face global volatility

September 2, 2015 JAKARTA: Indonesia has never been more prepared to handle global economic uncertainty, stemming from concerns like China’s slowdown and depressed commodity prices, the head of the International Monetary Fund said on Tuesday. “We at the IMF are convinced that Indonesia is better prepared than ever before to face global economic headwinds,” IMF […]

September 2, 2015 | By | Reply More
Indonesia raises 10 trln rupiah at bond auction, as targeted

Indonesia raises 10 trln rupiah at bond auction, as targeted

September 2, 2015 JAKARTA: Indonesia sold 10 trillion rupiah ($709.47 million) worth of conventional bonds at an auction on Tuesday, in line with the indicative target, the finance ministry’s financing and risk management office said. The weighted average yields for the three-month T-bills and the one-year T-bills were 5.86700 percent and 6.73175 percent respectively. The […]

September 2, 2015 | By | Reply More
PMI: Global factory growth at two-year low

PMI: Global factory growth at two-year low

September 2, 2015 LONDON: Global factory activity expanded at its weakest pace in just over two years last month, even though discounted prices did drive a modest upturn in new orders, a business survey showed on Tuesday. JPMorgan’s Global Manufacturing Purchasing Managers’ Index (PMI), produced with Markit, sank to its lowest reading since July 2013 […]

September 1, 2015 | By | Reply More