India’s natural gas output is forecast to increase by about 60 percent by 2019, however this will not be enough to meet domestic demand, according to an annual report published by the oil ministry, The Economic Times reports. Despite the forecast for a 60 percent surge in natural gas output in the next four years, this will only be sufficient … Continue reading
“China will cut import taxes on consumer goods by more than 50% on average in a bid to boost consumer spending,” BBC reports. Chinese consumers started shopping abroad due to very high tariffs on imported goods. In order to boost domestic demand, Chinese officials are aiming to lower the taxes. The tariff reduction is an … Continue reading
Tim Gosling in Prague BNE Long shadows stretch across the economies of Central Europe as they head into 2015. There was optimism a year ago that a fully-fledged recovery was finally underway. However, stuttering growth in the Eurozone and the Ukraine geopolitical crisis have dampened export prospects, creating a challenging scenario for the small, open … Continue reading
Chinese President Xi Jinping outlined today 4 achievements of the APEC meetings hosted by China this year. Achievement No 1 Launch of the Free Trade Area of the Asia-Pacific (FTAAP) process, which points out the direction for Asia-Pacific cooperation. Achievement No 2 Issuance of a statement on the 25th anniversary of the APEC, which draws on past … Continue reading
China’s factory activity unexpectedly fell to a 5-month low in October. Slowing orders and rising costs in the cooling economy contributed to the dire output. The official Purchasing Managers’ Index (PMI) slowed to 50.8 in October from September’s 51.1 reading. The level above 50 indicates growth and below contraction. The PMI showed foreign and domestic demand slipped to 5 and … Continue reading
The World Bank suggested on Wednesday that China should lower its economic growth target to 7% next year and indicated the adjustment would not hurt its labor market. It also warned China against carrying too “ambitious” 2014 economic growth target of 7.5% into 2015. Such a move could detract from the government’s reform plans. For the past 30 years … Continue reading