China's inflation growth up more than expected in September

CHINA’S inflation stepped up stronger than expected in September for both consumers and producers in a signal of economic stabilization and the pick-up of demand. Consumer prices rose 1.9 percent year on year in September, while producer price added 0.1 percent, the first increase in since March 2012, the National Bureau of Statistics said. The consumer price index was mainly driven up by the food price inflation that increased 3.2 percent, and the producer price index was improved on the back of recovering commodity prices and a low base, analysts said. “Coal, ferrous and nonferrous metal prices should be the main driver of the recovery in the near term,” wrote David Qu and Raymond Yeung from Australia and New Zealand Banking Group. “Industrial profitability should continue to improve with …

Market manipulation creates serious risk for short-term gain Dear John: I run a commodity futures trading firm. I have become convinced of the Federal Reserve’s manipulation of futures markets (and others) over the course of my trading. I know in the past you have written about the Plunge Protection Team (PPT), which could be doing the manipulation. Three things: First, I am wondering if you can point me to resources that expose these activities. Second, the PPT membership (I call them the four horsemen) seems to be unraveling as President-elect Donald Trump ascends. With the SEC chairman resigning and a new treasury secretary coming, half will be gone. Trump just needs to dump Fed Chair Yellen and maybe these ridiculous interventions will cease. And, third, please write more about this stuff. The American people ...

A country built around the pillars of innovation and diversity As the UAE celebrates 45 years, we are proud to be a part of the country’s journey that has gained universal admiration for its unique ability to emerge as a benchmark in sustainability, innovation and diversity. Within a remarkably short span of time, the UAE has demonstrated a focused and strategic approach towards development that has resulted in its success as a leader in infrastructure, innovation and sustainability. With its people’s interests as a core priority, the Rulers have ensured that the country is pioneering in the fields of construction, education and entrepreneurship. From the founding fathers to the current leadership, the path charted by our Rulers for the country’s citizens and residents, is uniquely visionary and a model that is now being emulated around the world. The...

Flipkart claims it has sold 1 million Xiaomi Redmi 3s and Redmi 3S Prime smartphones The smartphone was launched on August 9, not long before the festive season set in and is now one of the most sold smartphones on Flipkart. (Video grab) Xiaomi’s Redmi 3S and Redmi 3S Prime today crossed the one million mark on Flipkart according to the Chinese smartphone maker. The smartphone was launched on August 9, not long before the festive season set in and is now one of the most sold smartphones on Flipkart. According to Flipkart, these smartphones are a hit among the youth with most of its buyers falling between the age of 18-30 years and they have a 4.2 star rating for phones that fall under the ‘below 12k’ segment. Ajay Yadav, VP- Mobiles, Flipkart, in a statement, gave the credit for notching up such sensational numbers...

Ratan Tata prevented key reforms in Tata Motors: Cyrus Mistry Mumbai: Ousted Tata Group Chairman Cyrus Mistry today alleged that Ratan Tata "undermined a key reform" for introduction of an "incentive linked to productivity" at Tata Motors by asking for public support from the auto major's labour unions. In a scathing attack on Ratan Tata, Mistry in a letter to the shareholders of group firms, that have called for an extraordinary general meeting to remove him as director, said the "key reform measure" was undermined for getting the trade union's support. File image of Ratan Tata and Cyrus Mistry. AFP "Tata Motors was close to finalising for the first time, a productivity-based agreement with labour unions. Ratan Tata called the labour unions and asked the union leaders for their public support and in return undermined the ...

War remnants cleared for German wind farm DUSSELDORF, Germany, Dec. 7 (UPI) -- The installation of the foundations for a wind farm in the Baltic Sea can begin now that the area is clear of the remnants of war, a German company said. German energy company E.ON and Norwegian oil and gas firm Statoil are planning the construction of the Arkona wind farm in the German waters of the Baltic Sea. After four months, the companies said the area was cleared of explosive ordnance left over from the major wars of the 20th century. "The construction site ... is now completely free of remains from the time of the Cold War as well as World Wars I and II," the German company said. "The installation of the foundations for the Arkona offshore wind farm in...

EU pushes for early resumption of free trade talks with India New Delhi: The European Union on Friday sought a fresh push by India to restart negotiations at the earliest for long-pending free trade agreement (FTA) between the two sides, saying failure to finalise it will have adverse impact on trade as India's bilateral investment pacts with several EU-member countries are expiring soon.Vice-President of European Commission Jyrki Katainen held talks with Finance Minister Arun Jaitley and Commerce Minister Nirmala Sitharaman and apprised them about the urgency to start the stalled negotiations for the FTA.Katainen said India's existing trade and investment agreement with The Netherlands will come to an end in two weeks while similar pacts with several other EU countries will expire in the months of March, April and May which will make...

Mahindra & Mahindra beats estimates, reports 22% jump in profit at R1,163 cr Revenues during the period also beat estimates and increased by 14.98% y-o-y to R11,166.22 crore. Mahindra and Mahindra (MM), the country’s biggest utility vehicle manufacturer, on Friday beat estimates by reporting a 21.78% year-on-year increase in its standalone net profit at R1,163.27 crore for the quarter ended September 30 on the back of substantial increase in sales of utility vehicles and tractors. Revenues during the period also beat estimates and increased by 14.98% y-o-y to R11,166.22 crore as the company reaped the benefits of launching two compact SUVs — Tuv 300 and Kuv 100 — and a better monsoon. “The lagged effects of the interest rates cut by RBI along with increased transmission of lower interest rates will also be supportive of consumption. All...