Employees work on a drilling machine production line at a factory in Zhangjiakou, China. Reuters
China’s factory-gate prices shrank at the sharpest pace in three years in August, falling deeper into deflationary territory and reinforcing the urgency for Beijing to step up economic stimulus as the trade war with the United States intensifies.
China’s factory activity picked up pace in June, official data showed on Tuesday, although analysts warned weak global demand and a potential coronavirus resurgence are weighing on its longer-term recovery.
China’s factory activity expanded at a slightly faster pace in August, fuelled by rising infrastructure spending and improving global demand, a Reuters survey showed on Friday, as the Chinese economy continues to recover from the coronavirus crisis.
Taiwan-based electronics manufacturers Foxconn and Pegatron are among companies eyeing new factories in Mexico, people with direct knowledge of the matter said, as the US-China trade war and coronavirus pandemic prompt firms to reexamine global supply chains.
Unilever held back from celebrating a much stronger-than-expected return to sales growth in the third quarter, as the CEO said the outlook remained “highly unpredictable”.
Russia’s central bank (CB) kept interest rates at a record low on Friday amid increased geopolitical risks but said there was room for lower rates as the COVID-19 pandemic situation was deteriorating.
This major achievement is a testimony of UAE’s leadership’s vision to transform the country to a digital first and knowledge based economy.