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Tag Archives: Economy

Swiss economy contracts 0.2% in Q1 of 2015

BERN: The Swiss economy contracted by 0.2 percent in the first quarter of this year, the national statistics agency said Friday, as the sharp appreciation of the franc hammered the country’s key export sector. “The trade balance in goods and services in particular delivered negative growth contributions,” said Seco in a statement. Exports of goods fell by 2.3 percent as ... Read More »

Swiss economy contracts in Q1 after franc cap dropped

BERN: Switzerland’s economy contracted in the first quarter, data showed, with strong household spending softening what would have been a bigger drop after the central bank allowed the franc CHF= to float freely against the euro. Gross domestic product (GDP) fell by 0.2 percent quarter on quarter compared to revised growth of 0.5 percent in the previous quarter.Analysts polled by ... Read More »

Swiss economy contracts 0.2% in Q1 of 2015

BERN: The Swiss economy contracted by 0.2 percent in the first quarter of this year, the national statistics agency said Friday, as the sharp appreciation of the franc hammered the country’s key export sector. “The trade balance in goods and services in particular delivered negative growth contributions,” said Seco in a statement. Exports of goods fell by 2.3 percent as ... Read More »

Finns national economy output remains on level in March

HELSINKI: Seasonally adjusted output remained in March on level with the previous month, according to Statistics Finland. Adjusted for working days, output grew by 1.4 per cent from March 2014. Working day adjusted output grew in February by 0.8 per cent from February 2014. Adjusted for working days, primary production grew by close on four per cent, secondary production by ... Read More »

Portugal’s economy improves, people still struggle under austerity measures

LISBON: One year after gaining freedom from the control of its international creditors, Portugal has succeeded in dramatically improving its economy, though most people are still struggling under the stringent austerity measures. In 2011, Portugal received a 78 billion euro (89 billion dollar) loan to save its failing economy, joining one of the EU’s other struggling economies, Ireland, in being ... Read More »

German economy expanded by just 0.3% in first quarter

BERLIN: Germany’s economy expanded by just 0.3 percent in the first quarter, less than expected. Growth in the entire eurozone, meanwhile, was up 0.4 percent, boosted by France and Italy . Gross domestic product (GDP) grew by 0.3 percent in the first quarter, compared with the previous three months. Analysts had expected growth of up to 0.9 percent. Consumers remained ... Read More »

Portugal’s economy improves after 2011 bailout:IMF

LISBON: Portugal’s economy is improving on the back of short-term benefits but the country still needs to tackle deep-rooted problems that date from before its 2011 bailout, the International Monetary Fund said in a report published Friday. Portugal like the rest of the eurozone — is benefiting from low interest rates, low oil prices and the weak euro currency which ... Read More »

Turkish economy recently faces slowdown, businessmen experience problems

ANKARA: The Turkish economy has recently slowed down and many businessmen have experienced problems in cash proceedings, Union of Chambers and Commodity Exchanges of Turkey (TOBB) head Rifat Hisarcıklıoğlu has said. Hisarcıklıoğlu warned of “unpleasant surprises” at the 71st General Meeting of the TOBB in Ankara on May 4. There has been a slowdown in economic activities in the Turkish ... Read More »

Spain’s economy growth jumps 0.9% in Q1 of 2015

MADRID: Economic output expanded by 0.9 percent in the January-March period on a quarterly basis, up from 0.7 percent in the previous quarter, according to provisional figures from the National Statistics Institute. On an annual basis the Spanish economy, the eurozone’s fourth-largest, grew by 2.6 per cent in the first quarter, up from 2.0 per cent in the previous three ... Read More »

Spain’s economy growth jumps 0.9% in Q1 of 2015

MADRID: Economic output expanded by 0.9 percent in the January-March period on a quarterly basis, up from 0.7 percent in the previous quarter, according to provisional figures from the National Statistics Institute. On an annual basis the Spanish economy, the eurozone’s fourth-largest, grew by 2.6 per cent in the first quarter, up from 2.0 per cent in the previous three ... Read More »

Spain’s economy growth jumps 0.9% in first quarter of 2015

MADRID: The economic output expanded by 0.9 percent in the January-March period on a quarterly basis, up from 0.7 percent in the previous quarter, according to provisional figures from the National Statistics Institute. It was the seventh consecutive time that Spain was posting quarterly growth. On an annual basis the Spanish economy, the eurozone’s fourth-largest, grew by 2.6 per cent ... Read More »

German economy predicted to grow more than 2% in 2015

BERLIN: Germany’s economy will grow significantly faster this year than previously forecast, boosting the eurozone’s fragile economic recovery even as a surge in exports will increase the country’s controversial current account surplus. Europe’s biggest economy will expand 2.1 per cent this year, compared with the 1.2 per cent projected, and 1.8 per cent in 2016, according to a survey published ... Read More »

Spain’s economy growth jumps 0.9% in first quarter of 2015

MADRID: The economic output expanded by 0.9 percent in the January-March period on a quarterly basis, up from 0.7 percent in the previous quarter, according to provisional figures from the National Statistics Institute. It was the seventh consecutive time that Spain was posting quarterly growth. On an annual basis the Spanish economy, the eurozone’s fourth-largest, grew by 2.6 per cent ... Read More »

Belgium economy expanded 0.3% in 1Q

BRUSSELS: Belgium’s economy expanded by 0.3% in the first three months of 2015 compared with the previous quarter, the eighth straight quarter of expansion, the central bank said in its preliminary estimate. The economy grew by 0.9% in the first quarter compared with the same period a year earlier, the bank said. Belgium’s output expanded 0.2% in the fourth quarter ... Read More »

Spain’s economy expands by 1.4 percent in 2014

MADRID: The bank reported a net profit of €1.72 billion ($1.87 billion) in the first three months of the year, up from €1.3 billion during the same period last year. Net profit in Spain — which posted its first full year of economic growth last year since the 2008 bursting of the property bubble — surged 42 percent in the ... Read More »

Spain’s economy expands by 1.4 percent in 2014

MADRID: The bank reported a net profit of €1.72 billion ($1.87 billion) in the first three months of the year, up from €1.3 billion during the same period last year. Net profit in Spain — which posted its first full year of economic growth last year since the 2008 bursting of the property bubble — surged 42 percent in the ... Read More »

Finnish Juha Sipila aims to generate 200,000 jobs in bio economy project

HELSINKI: The winner in Sunday’s Finnish election Juha Sipila, is targeting the “bio-economy” to generate 200,000 jobs over the next decade. Sipila is seeking to build on the country’s traditional pulp mills and paper factories and develop new businesses and products such as biodegradable plastics, biofuels, wood composites and construction materials. One project already under way that will further Sipila’s ... Read More »

Economic issues ranked most important problem for Turks

ANKARA: Economic issues ranked as the most important problem for half of Turks. A total of 33.1 percent of those polled said unemployment ranks as Turkey’s most important problem. “This is the highest percentage I have seen for long time,” said Ali Çarkoğlu, who has been conducting similar surveys for the past two decades. For 10.7 percent of those polled, ... Read More »

Low inflation and stronger eurozone growth should help UK economy expand 2.8%

LONDON: Low inflation and stronger eurozone growth should help the UK economy expand 2.8% this year despite political uncertainty ahead of the election, according to an EY Item Club report. It said low inflation was adding to the benefits of higher employment and the positive effects of lower oil prices. Item Club chief economic adviser Peter Spencer said the financial markets ... Read More »

Turkey economy to grow by 3% in 2015: World Bank

ANKARA: The World Bank anticipates that Turkey’s economy will grow by 3 percent this year, a downgrade from an earlier forecast of 3.5 percent, according to a report released by the bank on Thursday. The unexpected inventory build-up and a series of poor leading indicators suggest the current economic weakness is likely to be extended into the first half of ... Read More »