Shoppers hunt for bargains during the Boxing Day sales in central London on Friday. Agence France-Presse
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.
The number of people heading out to shops across Britain jumped 87.8% in the week to April 17 versus the previous week as non-essential stores in England reopened after three months of COVID-19 lockdown, market researcher Springboard said on Monday.
British retailers reported the sharpest upturn in sales since 2018 this month as non-essential began to reopen after months of closure, adding to signs of an economic rebound as COVID restrictions ease, a survey showed on Tuesday.
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.
Oil prices gained for a fourth straight session as data showed a drawdown in US crude stockpiles, adding to ongoing worries of tight supply, which have offset concerns over a weaker global economy and demand.
The partially convertible rupee ended at Rs78.9650/9750 per US dollar (Dhs21.49) after touching a lifetime low of Rs78.97. The currency had closed at Rs78.77 on Tuesday.
Sheikh Hamdan Bin Mohammed Bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Dubai Council, launched ‘Dubai Global’, an initiative to establish 50 integrated