Containers are seen at the Yangshan Deep Water Port in Shanghai, China. Reuters/ File Photo
Steep drops in auto sales for China and India over recent months are serving as a painful reminder that the world’s two most populous markets are not living up to the earlier heady expectations.
India’s merchandise exports grew 11.02 per cent, on a year-on-year basis in March, to $32.55 billion from $29.32 billion reported for the corresponding month of last year, official data showed on Monday. “Exports in March 2019 were $32.55 billion, as compared to $29.32 billion in March 2018, exhibiting a positive growth of 11.02 per cent,” the Commerce Ministry said.
Already well-established as one of the world’s top centres for oil bunkering, the Port of Fujairah and the adjacent Fujairah Oil Industry Zone (FOIZ) continue to attract further business and investment, recent announcements show.
Indonesia’s economy expanded more slowly than expected in the first quarter of this year, as investment dropped ahead of elections and campaign spending failed to sustain growth momentum. Southeast Asia’s largest economy grew 5.07 per cent in January-March from a year earlier,
The United Nations (UN) projects India’s economy to grow by 5.7 per cent in the current fiscal year and expects it to rise to 6.6 per cent in the next. The global body also suggested the county should uplift social conditions of labour class especially women.
In a major move Volkswagen (VW) to acquire 20 per cent stake in a Chinese battery maker. VW is set to buy a stake in Chinese electric vehicle battery maker Guoxuan High-tech Co, according to some sources.
Egypt’s central bank left its key interest rates unchanged, unexpectedly halting an easing cycle that began in August. The bank kept its deposit rate steady at 12.25% and its lending rate at 13.25%, the bank’s Monetary Policy Committee (MPC) said in a statement.