Business & Economy

Smartphones made in India? Manufacturing ambition hits hurdles

NEW DELHI: India’s ambitions to become a smartphone-making powerhouse are foundering over a lack of skilled labor and part suppliers along with a complex tax regime, industry executives say.Prime Minister Narendra Modi has championed a manufacturing drive, under the slogan ‘Make in India’, to boost the sluggish economy and create millions of jobs. Among the headline-grabbing details was a plan ...

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Japan business mood hits decade-high: BOJ tankan, Economy News & Top Stories

TOKYO (REUTERS) – Big manufacturers have more confidence in Japan’s business conditions than they have had for a decade as global demand adds momentum to economic recovery, a closely watched central bank survey showed on Monday (Oct 2). The upbeat data supports Bank of Japan policymakers’ hopes that a sustained economic recovery will boost wages and household spending, helping to ...

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Nation’s business confidence hits decade high: Bank of Japan

Confidence among Japan’s biggest manufacturers has jumped to its highest level in a decade, a key central bank survey showed Monday, as the world’s number three economy picks up pace. The Bank of Japan’s tankan report — a closely watched quarterly survey of more than 10,000 companies — showed a reading of 22 among major manufacturers in its latest report, ...

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Growth in the UK consulting industry slows as businesses cut back on non-essential spending in the run-up to Brexit, according to the MCA

Consultancy firms saw the rate of growth in their fee income slow last year, in what the Management Consultancies Association (MCA) has called a worrying sign for the UK business economy. The trade body’s annual report, released today, shows that fee income in the consulting industry grew by 4.76 per cent last year – down from eight per cent in ...

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Call for budget measures to support firms at risk from Brexit

A failure by the British government and European Union officials to achieve progress in Brexit negotiations makes it even more crucial that measures to support Irish businesses be included in Budget 2018, Ibec has said. The lobby group warned steps need to be taken to ensure the economy is prepared for all possible outcomes. “Negotiations have yet to provide any ...

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SMEs must be nimble to adapt to change, says Iswaran, Economy News & Top Stories

Singapore enterprises must adopt differentiated strategies for growth in order to beat the competition, said Minister for Trade and Industry (Industry) S. Iswaran. He told the audience at the Emerging Enterprise Award event last Friday that firms must first be prepared to develop new capabilities and harness innovation to capitalise on emerging trends in their sectors. These can include mastering ...

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Zimbabwe hyperinflation fears trigger panic-buying

HARARE: Driving to work last week, Dennis Zhemi found his usually busy neighborhood garage in the Zimbabwean capital Harare deserted and a forecourt attendant signalling “no fuel.” For Zhemi, it was a worrying sign that Zimbabwe’s chronic economic collapse could be heading for another vicious downwards spiral of basic shortages, hyperinflation and social chaos.Zhemi’s heart sank as he drove on, ...

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UK economy overcast but outlook improves

LONDON: Growth across Britain’s private sector cooled slightly in the three months to September, an industry survey showed on Sunday, although companies were mostly upbeat about their prospects for the next three months.The Confederation of British Industry’s monthly indicator of output for manufacturers, retailers and services companies slipped to +11, down from +14 for the three months to August.“Growth in ...

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Saudi Arabia finalizes seven deals with Russia worth $1 bln

Moscow – Business relations between Saudi Arabia and Russia have been making headway at a steady phase since 2015, when the Public Investment Fund (PIF) announced its plan of investing $10 billion in the Russian economy during the next five years. This has resulted in Saudi Arabia becoming one of the biggest foreign investors in Russia. Both the countries have ...

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Price competition hits food firms’ revenue

Image copyright Walkers Shortbread Two of Scotland’s best-known food firms – Walkers and Lees – have announced profits reflecting volatile prices. Walker’s Shortbread published accounts which showed both the boost from exports but also rising import costs. It also warned that fierce price competition in the UK market, particularly for own-brand contracts, will continue to squeeze its margins. Revenue at ...

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