Foreign Business

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HONG KONG: Asian markets were flat or mostly higher Wednesday, with Tokyo leading the charge in its first day of trading after an extended new year break. The gains follow a strong performance in global markets on Tuesday, as investors reacted to bright economic indicators of further growth, particularly in…

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LAS VEGAS: Global spending on consumer technology is expected to slip this year due to factors including a strong US dollar and political uncertainty prompted by Brexit and President-elect Donald Trump. Consumer Technology Association senior director of market research Steve Koenig revealed the US trade group’s new forecast here late…

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PANAMA CITY: Panama said Tuesday it will hold talks with France in the coming days, after Paris confirmed the Central American country was back on its blacklist of tax havens because of the Panama Papers leak. The discussions were to highlight progress Panama has made in boosting transparency and cooperation…

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MADRID: Hit by a severe crisis several years ago, Spain’s banking sector has recovered but at a cost as thousands are laid off and it struggles to get rid of toxic assets. “The system is closer to putting most of the crisis legacies behind it,” analysts at the International Monetary…

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BEIJING: China’s manufacturing activity expanded at its quickest pace in nearly four years in December, an independent research firm said on Tuesday, in a sign of improving health for the world’s second-largest economy. The private Caixin Purchasing Managers’ Index (PMI), an indicator of conditions at smaller manufacturers, beat expectations with…

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SINGAPORE: Singapore’s trade-driven economy grew 1.8 percent last year, the slowest pace since the global financial crisis in 2009, after dodging a technical recession in the fourth quarter, official data showed Tuesday. Analysts warned growth in 2017 could even be more subdued if rising protectionism crimps global trade and further…

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SYDNEY: ANZ Bank Tuesday agreed to sell its stake in Shanghai Rural Commercial Bank for Aus$1.84 billion (US$1.32 billion) as it continues to offload Asian assets as part of a restructure. The Australia and New Zealand Banking Group said Chinese shipping giant COSCO and Shanghai Sino-Poland Enterprise would each take…

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BEIJING: China’s once searing box-office growth crashed in 2016, official data showed, as a weak crop of films and a cutback in subsidies caused a drastic slowdown in the world’s second-largest film market. Ticket revenue grew 3.7 percent year-on-year to 45.7 billion yuan in 2016, a dramatic slowdown from 2015’s…

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RIO DE JANEIRO: Brazil logged a record $48-million trade surplus last year, a silver lining to its economic and political turmoil, the government said Monday. The country’s key oil, auto and sugar exports fell at a slower pace than its plunging imports, foreign trade secretary Abrao Neto said. The Brazilian…

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HONG KONG: Markets in Asia opened largely flat Tuesday on the first trading day of the year, after tracking up at the end of a volatile 2016. Overall, world markets ended last year in the black despite shock votes in Britain and the United States, but Shanghai proved the exception…

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