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.
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.
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.
The IMF board of governors on Monday greenlit a $650 billion increase in cash reserves for member nations, the last step in an initiative to boost liquidity for the most vulnerable countries. The move increases by 456 billion the stock of Special Drawing Rights (SDR), the International
Dubai’s business events sector continues to build on its momentum as one of the first cities in the world to reopen for international meetings, with a busy calendar of high profile conferences, meetings and incentives on the horizon through the rest of 2021 and into 2022.
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