International

Japan third quarter GDP contracts at fastest pace since 2014, trade war dims outlook

Views - 1 Tuesday, 11 December 2018 00:00

TOKYO (Reuters): The Japanese economy contracted the most in over four years in the third quarter as capital expenditure tumbled, raising concerns about demand at home and overseas as the export-reliant nation grapples with global trade frictions. Th


World Bank shifts focus to Egypt’s private sector with $1 billion loan

Views - 1 Tuesday, 11 December 2018 00:00

SHARM EL-SHEIKH, Egypt (Reuters): The World Bank is pushing to prise open more space for Egypt’s private sector with $1 billion in new funding, part of a second phase of support that follows two years of painful economic reforms, the bank’s regio


Ghosn formally charged for financial misconduct, Nissan also indicted

Views - 1 Tuesday, 11 December 2018 00:00

TOKYO (Reuters): Tokyo prosecutors officially charged ousted Nissan Motor chairman Carlos Ghosn on Monday for under-reporting his income and extended his detention on suspicion of additional financial misconduct. The prosecutors also indicted Nissan


Oil extends gains after OPEC-led group seals deal to cut supply

Views - 1 Tuesday, 11 December 2018 00:00

SINGAPORE (Reuters): Oil prices rose on Monday, extending gains from Friday when producer club OPEC and some non-affiliated producers agreed a supply cut of 1.2 million barrels per day (bpd) from January. Despite this, the outlook for next year remai


Euro zone recession risk climbs, rate rise conviction wavers: Reuters poll

Views - 1 Tuesday, 11 December 2018 00:00

BENGALURU (Reuters): The European Central Bank is on course to raise its still-negative deposit rate in the third quarter of 2019 but economists’ conviction has faded over the past month as the chances of a recession have risen. A Reuters poll cond


Motion filed to impeach Somali president

Views - 1 Tuesday, 11 December 2018 00:00

MOGADISHU (Reuters): The top official of Somali’s parliament administration said on Sunday he had filed a motion with the speaker of parliament to impeach the country’s president, Mohamed Abdullahi. “We have filed an impeachment against the pre


Huawei CFO seeks bail on health concerns; Canada wants her in jail

Views - 3 Tuesday, 11 December 2018 00:00

TORONTO/BEIJING (Reuters): A top executive of China’s Huawei Technologies Co. Ltd. argued that she should be released on bail while awaiting an extradition hearing, citing fears for her health while incarcerated in Canada along with other factors,


EU’s top court says UK can unilaterally stop Brexit

Views - 1 Tuesday, 11 December 2018 00:00

LUXEMBOURG/LONDON (Reuters): The European Union’s top court ruled on Monday that the United Kingdom can unilaterally revoke its divorce notice, raising the hopes of pro-Europeans ahead of a crucial vote in the British parliament on Prime Minister T


Hindu monks, large crowds call on Modi to help build Ayodhya temple

Views - 1 Tuesday, 11 December 2018 00:00

NEW DELHI (Reuters): Dozens of Hindu monks and tens of thousands of followers, gathered under the banner of groups linked to Prime Minister Narendra Modi’s Hindu nationalist party, on Sunday urged the government to help build a temple on the ruins


Top Democrats say Trump may face impeachment, jail over hush money

Views - 1 Tuesday, 11 December 2018 00:00

WASHINGTON (Reuters): US President Donald Trump could face impeachment and jail time if hush money payments reported by his former lawyer are proven to be campaign finance violations, Democratic lawmakers said on Sunday. Court filings on Friday in ca


Trump says Kelly will leave chief of staff job at end of year

Views - 3 Monday, 10 December 2018 01:27

Washington (Reuters): White House Chief of Staff John Kelly will leave his job at the end of the year, U.S. President Donald Trump said on Saturday, his latest staff shakeup since midterm elections a month ago cost Republicans control of the House of


Trump picks attorney general and UN envoy in fresh staff shake-up

Views - 3 Monday, 10 December 2018 01:25

WASHINGTON (Reuters) - In another senior staff shake-up inside his often turbulent administration, US President Donald Trump said on Friday he has picked the two people he wants to be the next US attorney general and the next US ambassador to the Uni


UK cabinet minister floats ‘Plan B’ before key vote on May’s Brexit deal

Views - 4 Monday, 10 December 2018 01:24

LONDON (Reuters): A close ally of British Prime Minister Theresa May on Saturday became the first cabinet minister to float a possible Plan B if, as expected, parliament next week rejects her proposal to leave the European Union. With her own future


China urges Canada to free Huawei CFO or face consequences

Views - 9 Monday, 10 December 2018 01:23

Beijing/Ottawa (Reuters): China warned Canada on Saturday that there would be severe consequences if it did not immediately release Huawei Technologies Co Ltd.’s chief financial officer, calling the case “extremely nasty”. Meng Wanzhou, Huawei


Merkel protégé Kramp-Karrenbauer succeeds her as German CDU leader

Views - 3 Monday, 10 December 2018 01:21

HAMBURG, Reuters: Germany’s Christian Democrats elected Annegret Kramp-Karrenbauer on Friday to replace Angela Merkel as party leader, a decision that moves her into pole position to succeed Europe’s most influential leader as chancellor. Kramp-


Exit polls show BJP losing ground in key state elections before national vote

Views - 9 Monday, 10 December 2018 01:20

New Delhi (Reuters): Prime Minister Narendra Modi’s ruling party is likely to lose two heartland states while a third is too close to call, exit polls showed on Friday in the final test of popularity before a national election due by May next year.


China’s November export, import growth shrinks; surplus with US record high

Views - 6 Monday, 10 December 2018 00:00

Beijing (Reuters): China’s exports increased far less than expected in November, apparently indicating that slowing global demand outweighed any gains from a rush to ship goods to the United States ahead of a now-postponed 1 January increase in Was


US job growth slows in November, monthly wage gains modest

Views - 3 Monday, 10 December 2018 00:00

Washington (Reuters): US job growth slowed in November and monthly wages increased less than forecast, suggesting some moderation in economic activity that could support expectations of fewer interest rate increases from the Federal Reserve in 2019.


No Brexit shock absorber for UK this time

Views - 7 Monday, 10 December 2018 00:00

London (Reuters): It might not feel like it, but Britain’s economy got lucky after the shock of the Brexit referendum result in 2016. Although it quickly went from being the fastest-growing major rich economy to one of the slowest, the hit would ha


Eurostat confirms euro zone GDP, employment growth slows in third quarter

Views - 3 Monday, 10 December 2018 00:00

Brussels (Reuters): The euro zone economy grew at its slowest pace in four years in the third quarter of 2018, while employment growth also eased during the period, data released by the European Union statistics agency Friday showed, confirming earli


Oil sinks as OPEC mulls Iran supply cut exemption, tries to get Russia on board

Views - 3 Saturday, 8 December 2018 00:10

SINGAPORE (Reuters): Oil prices fell on Friday as OPEC discussed a potential exemption from cutting output for Iran and as the producer club sought to get heavyweight supplier Russia on board. International Brent crude oil futures LCOc1 fell below $6


Asia shares struggle to rally

Views - 5 Saturday, 8 December 2018 00:00

SYDNEY (Reuters): Asian shares fought to sustain the slimmest of recoveries on Friday amid speculation the Federal Reserve might be “one-and-done” with US rate hikes, while oil fell anew as producers bickered over the details of an output cut. MS


Rejecting suggestions of delay, PM May’s team says Brexit vote will go ahead

Views - 2 Saturday, 8 December 2018 00:00

LONDON (Reuters): Parliament’s vote on Prime Minister Theresa May’s Brexit deal will go ahead on Dec. 11, her office said on Thursday, rejecting suggestions from lawmakers that she should seek ways to avoid a defeat so big it might bring down the


Brexit betrayal would hurt UK more than leaving - Hammond

Views - 3 Friday, 7 December 2018 00:00

London (Reuters): Any Brexit outcome that left a large chunk of the British people feeling betrayed would damage the country more than the modest economic cost of pursuing Prime Minister Theresa May’s preferred Brexit plan, finance minister Philip


UK PM May says: It’s my deal, no deal or no Brexit at all

Views - 4 Friday, 7 December 2018 00:00

LONDON (Reuters): Prime Minister Theresa May said on Thursday that British lawmakers faced a choice ahead of a vote on her Brexit deal: approving her deal or facing an exit with no deal or even the reversal of Brexit.


Huawei founder’s daughter arrested on US request, puts trade war truce in doubt

Views - 13 Friday, 7 December 2018 00:00

VANCOUVER/WASHINGTON (Reuters): The daughter of Chinese tech giant Huawei’s founder has been arrested in Canada and is facing extradition to the United States, dealing a blow to hopes of any easing of Sino-US trade tensions and rocking global stock


Emerging market shares fall as Asian tech stocks tumble post Huawei CFO arrest

Views - 4 Friday, 7 December 2018 00:00

REUTERS: Emerging markets shares were on track to post their worst day in three-weeks on Thursday, as Asian shares tumbled after the arrest of an executive of Chinese tech giant Huawei at the request of the United States. Meng Wanzhou, global chief


OPEC waiting for Russia before deciding how much oil to cut

Views - 3 Friday, 7 December 2018 00:00

VIENNA (Reuters): OPEC has made a planned cut in oil output effectively conditional on the contribution from non-OPEC producer Russia, delegates said on Thursday as the group gathered in Vienna for a meeting aimed at supporting battered oil prices. F


Philippine senator dares Duterte to take drug test after marijuana joke

Views - 4 Friday, 7 December 2018 00:00

MANILA (Reuters): A Philippine senator challenged President Rodrigo Duterte on Thursday to take a drug test after he joked about using marijuana during a regional summit in Singapore. Duterte, whose controversial war on drugs has killed nearly 5,000


Panama awards $ 1.4 b bridge project to Chinese group

Views - 4 Friday, 7 December 2018 00:00

ANAMA CITY (AFP): The government of Panama on Tuesday awarded a Chinese consortium a $ 1.4 billion contract to build a bridge over the Panama Canal, a day after a visit by President Xi Jinping. That tour was part of China’s efforts to extend its p


Today's Columnists

Why didn’t they tell the President?

Tuesday, 11 December 2018

The President appears to believe that he still possesses the full executive powers he derived from the Constitution when he was elected to his office in January 2015. Three months later, he sat during a tumultuous session in Parliament, and witnessed


The implications and consequences of the verdict, whatever it is

Tuesday, 11 December 2018

Quite obviously I haven’t the slightest notion of what the Supreme Court verdict will be, unlike my friend Eran Wickramaratne who announced publicly (and rather curiously) that he doesn’t have the slightest doubt about it. However I do know, as a


Sri Lanka’s economy at crossroads: The 1972-76 Five-Year Plan and its diagnosis of economic ailments

Monday, 10 December 2018

The economist who produced ‘From Dependent Currency to Central Banking’ Professor H A de S Gunasekara, popularly known as HAdeS, was a legend in economics in Sri Lanka. The doctoral thesis ‘From Dependent Currency to Central Banking in Ceylon


Are you monitoring logistics cost in your supply chain?

Monday, 10 December 2018

On the internet a simple explanation of logistics says: “Logistics is generally the detailed organisation and implementation of a complex operation. In a general business sense, logistics is the management of the flow of things between the point of


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