Page 33 - Economy

Housing sales up 71% to 236,530 units in 2021 in top-seven cities

The demand fell short of pre-Covid levels

2022: Indian economy sets sail with growth hopes even as headwinds remain

After navigating pandemic waves, recovering Indian economy is now sailing through rising coronavirus cases, spiralling commodity prices and spiking inflation though sustainable growth remains visible.

Foreign-owned assets in India increased by $37.3 bn during Sept qtr: RBI

The assets stood at USD 927.1 billion at September-end, up from USD 895.2 billion in June quarter

Assam: Headway likely in boundary row, big boost to connectivity expected

Decades-old inter-state boundary disputes and militancy problems are expected to make a significant headway in 2022

World Bank loans $221 mn to Vietnam for economic recovery from Covid-19

The World Bank has signed an agreement with Vietnam in the amount of $221.5 million to finance the country's recovery from the coronavirus pandemic.

Japan, Taiwan agree to bolster cooperation in field of economic security

Japan and Taiwan on Friday agreed to bolster cooperation in the field of economic security with an emphasis on supply chain resiliency for semiconductors and other crucial goods

UK economy, biz huffing and puffing in just a year of Brexit

The prime minister had hailed the signing of the trade accord as the moment when Britain took back control of its destiny

Japan overstated GDP component data for years, inflating growth figures

The Japanese government overstated construction orders data received from the industry for years, PM sid, in a practice that may have had the effect of inflating the country's economic growth figures.

Japan govt approves tax plan with focus on incentives to raise wages

The Japanese government has approved a tax plan for the fiscal year 2022, which focused on encouraging businesses to raise wages through tax incentives

S Africa's economy to grow just 2% in 2022 as power shortages crimp exports

South Africa's economy is set to grow by just 2% in 2022, less than half the pace seen this year, as consumers rein in spending and electricity constraints dampen exports

Gig economy workers set to receive employee rights under EU proposal

App-based gig work platforms have boomed in the digital economy, especially during the Covid-19 pandemic

Piyush Goyal urges steel makers to address small industries cost concerns

The minister also said Goyal said that special care of MSMEs needs to be taken for easier and cost effective supply of steel

Japan offers 30% tax break to big companies that hike wages by 4%

Its economy contracts 3.6% sequentially in third quarter

Japan economy contracts 3.6% in Q3 on weaker consumer spending, trade

Japan's economy contracted at a 3.6% annual rate in July-September, according to a revised estimate released Wednesday.

Japan PM vows to ensure workers' wage hikes, guard them against inflation

Japanese PM Fumio Kishida vowed to ensure workers' wage hikes through tax breaks to protect the economy from the impact of rising global inflation

Explainer: Turkey's currency Lira is crashing. What's the impact?

Turkish Lira has been plunging to all-time lows against the US dollar and the euro

Worst case scenario: Economists analyse how omicron will impact recovery

The omicron variant is dealing a blow to optimistic hopes that the world economy would enter 2022 on a firmer footing

Japan October retail sales rise 0.9%, for the first time in 3 months

Japan's retail sales rose for the first time in three months in October, though less than expected

Japan PM urges companies to raise wages as business sheds Covid impact

Japanese Prime Minister Fumio Kishida on Friday urged companies whose earnings have recovered to pre-pandemic levels to raise wages by 3% or more

In Japan, a weaker yen may not be the blessing it once was

TOKYO (Reuters) - A weak yen, once seen as favourable for Japan's exports-focused economy, has now become a pain point as it eats into household finances and confounds policymakers.