A sales tax refund counter of a shop in Osaka, Japan. Reuters
Japan’s industrial output rebounded more than expected in July, but retail sales declined sharply and production was set to contract again next month, signalling a bumpy road for an economy facing growing global strains.
Japan’s retail sales tumbled at their fastest pace in more than 4-1/2 years in October as a sales tax hike prompted consumers to cut spending, raising a red flag over the strength of domestic demand.
Japanese households cut their spending for the first time in almost a year in October as a sales tax hike prompted consumers to rein in expenses and natural disasters disrupted business.
Japanese wholesale prices marked their first annual increase in more than a year in March, a sign that rising commodities costs are pinching corporate margins and adding inflationary pressure to the world’s third-largest economy.
Dr Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology, Special Envoy for Climate Change and Group CEO of Adnoc, on Friday met virtually United States (US) Secretary of Energy, Jennifer Granholm,
China’s economic recovery quickened sharply in the first quarter to record growth of 18.3% from last year’s deep coronavirus slump, propelled by stronger demand at home and abroad and continued government support for smaller firms.
UK banks and insurers have shifted more than £1.0 trillion to the European Union in response to Brexit, a study published on Friday found. More than 440 firms operating in the UK banking and finance sector have relocated parts of their business,