India’s slowing growth blamed on ‘big mistake’ of demonetisation

Businessam StaffJune 6, 2017

India has posted its slowest growth rate in two years, ceding its status as the world’s fastest-growing major economy to China, with economists blaming the downturn partly on last year’s shock decision to recall the country’s two highest-value bank notes. Analysts said the 6.1% GDP growth figure for the January to March quarter – compared […]

Tokyo Olympics cost twice the initial estimate: why?

Businessam StaffJune 4, 2017

Taxpayers beware: The cost of hosting an Olympics is likely to be far more than advertised. The price tag on the 2020 Tokyo Olympics has ballooned to nearly twice the initial estimate, even after a major cost-cutting effort. A major reason is that cities exclude large amounts of associated costs when they submit a bid […]

China maintains stable liquidity as reform moves forward

Businessam StaffJune 3, 2017

China will maintain a monetary policy that is “neither too tight or too loose”, ensuring basically stable liquidity, a senior central banker told a financial conference in Beijing on Saturday. Chen Yulu, deputy governor at the People’s Bank of China (PBOC), also said that economic structural reform would play an increasingly important role in the […]

Note ban shows up in India’s growth, economy grows 6.1% in March quarter

Businessam StaffMay 31, 2017

India’s growth slumped to a two-year low and the country ceded its top ranking as the world’s fastest-growing economy back to China in the March quarter, suggesting that the effects of November’s note swap were rippling through the economy. However, remonetisation, a good monsoon and possible interest rate cuts along with the goods and services […]

China still treats foreign firms unfairly

Businessam StaffMay 31, 2017

Doing business in China remains difficult for many European companies and most are still being treated unfairly, a lobby group said Wednesday, undermining Beijing’s claims that it welcomes foreign investment. China is facing growing pressure to provide a level playing field and increase market access for overseas firms who have long complained about the country’s […]

Japan’s household spending falls for 14th straight month

Businessam StaffMay 31, 2017

Japan’s average household spending dropped 1.4 per cent year-on-year in April for the 14th consecutive month of declines amid sluggish consumption, a government report showed Tuesday. The decline was steeper than the average estimate of a 1.0-per-cent fall by a Nikkei business daily survey and followed a 1.3-per-cent decrease in March. Inflation-adjusted monthly wages also […]

Airbus begins building first helicopter plant in China

Businessam StaffMay 28, 2017

Airbus has begun building its first helicopter assembly plant in China, Newsrep.net reports. The European plane-maker in its plans, intend to produce 18 machines a year in the Asia country, in hopes that the country will soon open up its low-altitude airspace. China currently has a shortage of civilian helicopters for emergency medical purposes and other […]