World Economy

Nigeria emerges 27th in global ranking for ‘retail development’, drops from 19th position

Nigeria’s global ranking in retail development dropped from the 19th position recorded in 2016 to 27 out of 30 countries surveyed in 2017. Total national sales from the sector also dropped from $125 billion in 2016 to $109bn in 2017, according to the Global Retail Development Index, which measures retail investments based on all relevant […]

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Nigeria’s Kemi Adeosun appointed into UN Pension Fund Investments Committee

The United Nations has appointed Nigeria’s Minister of Finance, Mrs. Kemi Adeosun, into the Investments Committee of the United Nations Joint Staff Pension Fund. A statement from the ministry on Sunday said the Under-Secretary-General of UN, Jan Beagle, confirmed Adeosun’s appointment. Beagle, according to the statement said that the finance minister would serve a one-year […]

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Taiwan bought 73,635 tonnes of wheat from U.S. last week

The Taiwan Flour Millers´ Association last week bought 73,635 tonnes of milling wheat to be sourced from the United States, European traders said on Wednesday. The wheat was bought in two consignments for shipment from the U.S. Pacific North West coast. The first consignment for shipment between Feb. 19 and March 5 involved 18,575 tonnes […]

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UK car sales drop in 2017 for first time in 6 years

The British car industry association says automobile sales in the country fell in 2017 for the first time in six years and are set to fall further this year largely because of subdued economic growth. The Society of Motor Manufacturers and Traders said Friday that overall demand fell 5.7 percent in 2017 to 2.54 million […]

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South Korea Financial Markets

Global stocks mostly higher on last trading day of 2017

Global stock indexes were mostly higher on Friday, putting them on track to close out the year with strong gains. KEEPING SCORE: Britain’s FTSE 100 rose 0.9 percent to a record high of 7,687.77, meaning it gained 7.6 percent during 2017 despite heightened Brexit uncertainties. The fall in Britain’s pound has largely helped push up […]

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World stocks in year-end rally as dollar retreats, copper surges

Buoyant commodity prices alongside a pullback in U.S. bond yields and the dollar propelled world stocks to new record highs on Thursday, signalling the rally would likely extend into 2018. MSCI’s world equity index, which tracks shares in 47 countries, has risen about 22 percent this year and looks set for a record 14th straight […]

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China’s foreign debt rises 7.5 pct in Q3 to $1.68 trln – regulator

China’s outstanding foreign debt rose 7.5 percent in the third quarter to $1.68 trillion, the foreign exchange regulator said on Thursday, slowing from a 8.7 percent rise in the second quarter. The rise in foreign debt was mainly driven by debt securities, as more foreign institutions entered China’s debt market, and also by trade credit […]

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China commerce ministry says disappointed at European probe into e-bike exporters

China’s commerce ministry said it is disappointed at the European Commission’s decision to launch a probe into Chinese exporters of electronic bicycles, adding that Europe misunderstands the Chinese market. The European Commission launched an investigation on Dec. 21 into whether Chinese exporters of e-bikes benefited from excessive state subsidies, the latest in a string of […]

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Spain’s economy seen growing strongly despite Catalan crisis

Spain’s central bank says strong exports are likely to help the economy grow by a quarterly rate of 0.8 percent in the last three months of the year despite the negative effects of the Catalan political crisis. Spain’s economy is set to expand by 3.1 percent in 2017, but the government revised its estimate for […]

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Fitch upgrades Indonesia, cites economy’s resilience to shocks

Fitch Ratings raised Indonesia’s credit ratings a notch above its lowest investment grade on Thursday, saying economic and monetary policies have made Southeast Asia’s largest economy resilient to external shocks. The rating was raised to BBB from BBB-, with a stable outlook. The upgrade means Indonesia has a higher rating from Fitch than from S&P […]

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ECB

European bank falls $47 billion short of fund to implement new regulations – EBA

The European banking system is 39.7 billion euros ($47 billion) short of the capital it needs to implement new regulations meant to ensure the world’s banks can withstand financial shocks, the European Banking Authority (EBA) said on Wednesday. The Basel III rules, agreed earlier this month, require banks to hold more capital and cash to […]

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President Xi puts his stamp on China’s economy, permits more debt

President Xi Jinping stamped his authority over China’s economy at a major meeting ending Wednesday, which called for “reasonable” credit expansion, increased imports and more open markets and efforts to curb noxious pollution. The pledges were made under a new banner, “Xi Jinping Thought on Socialist Economy with Chinese Characteristics for a New Era”, at […]

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