Foreign Business

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BEIJING: The International Monetary Fund on Thursday warned of brewing risks in China’s banking system as it found dozens of crucial lenders needed to beef up their protection against possible financial crises. The report comes a day after regulators in Beijing drafted new rules to strengthen bank funding and follows…

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WASHINGTON: US companies continued to hire at a strong rate last month, but the pace slowed from the hurricane-inflated 2017 peak seen in October, payroll firm ADP reported Wednesday. Nearly every major segment of the economy added employees, including the biggest increase in manufacturing jobs on record, according to the…

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BRUSSELS: The European Union has agreed new powers to apply higher tariffs and more rapidly as part of a wave of measures to face the long-term challenge of cheap imports from China. The political agreement was reached late on Tuesday by negotiators from the European Parliament, the 28 member states…

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FRANKFURT AM MAIN: German industrial production unexpectedly slipped for the second month in a row in October, official data showed Thursday, but the rare blip is unlikely to throw Europe’s humming top economy off course. Output from industrial firms fell 1.4 percent month-on-month, federal statistics office Destatis said, whereas analysts…

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HONG KONG: Tokyo stocks rallied Thursday after three days of losses, while technology firms saw some much-needed buying in Asia but regional markets were dogged by political concerns, the latest being Donald Trump’s recognition of Jerusalem as Israel’s capital. Equities plunged on Wednesday, led by tech firms as investors cashed…

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SINGAPORE: Bitcoin hit a fresh record of $14,000 Thursday as investors piled in, triggering a warning the cryptocurrency was “like a charging train with no brakes” which would inevitably slip back. It touched a new a high of $14,400 in Asian trade before slipping back to $13,900, according to Bloomberg…

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SYDNEY: Australia’s economy grew 0.6 percent in the third-quarter, as business investment lifted despite weak household spending, reflecting the divergence between the two segments, official data showed Wednesday. The quarterly expansion took the annual rate of growth to a healthy 2.8 percent, slightly below expectations but broadly in line with…

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WASHINGTON, D.C.: US corporate leaders are increasingly upbeat about growth in the world’s largest economy as lawmakers prepare to enact deep tax cuts, the Business Roundtable said Tuesday. The group’s index of CEO sales projections, spending and hiring plans over the next six months hit its highest level in nearly…

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HONG KONG: Asian markets sank on Wednesday, extending the previous day’s losses, with energy firms tracking a sell-off in commodities and technology firms facing further struggles. The losses followed sharp drops across Europe and New York as Britain struggles to hammer out a Brexit deal with the European Union and…

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MEXICO CITY: Mexico and the European Union are working to wrap up negotiations on a new version of their 17-year-old trade deal by the end of the month, the Mexican economy ministry said Tuesday. The two sides have been in talks on updating the trade deal since May 2016. After…

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