MONEY

Christmas tree farmers aim to boost sales via social media

Rosa Villarreal’s three young sons jumped and ran around the field of Christmas trees like jackrabbits, their excitement palpable as they raced from evergreen to evergreen.

Associated Press, Dec 13 2018

full story »

India’s new central bank chief hints at more dovish stance

New Reserve Bank of India (RBI) Governor Shaktikanta Das said on Wednesday he would adopt a consultative approach and move quickly to meet the heads of state-run banks to tackle issues facing the banking sector.

Reuters, Dec 13 2018

full story »

SKorea’s job growth hits 10-month high

South Korea’s job growth hit the highest in 10 months in November, indicating a recovery in the labor market conditions, a government report showed on Wednesday.

Dec 13 2018

full story »

Tokopedia raises $1.1 billion from top investors

Indonesia’s top e-commerce site Tokopedia said on Wednesday it has raised $1.1 billion in funding from investors including Japanese tech giant SoftBank and Chinese online store Alibaba.

Dec 13 2018

full story »

Singapore retail sales rise 0.1pc in October

Singapore’s retail sales increased by 0.1 percent year-on-year in October, compared to a re-calculated 1.9 percent increase in September, the Department of Statistics of Singapore announced on Wednesday.

Dec 13 2018

full story »

Brands born on the internet embrace physical stores

Online retailers are getting physical.A growing number of brands born on the internet are now opening brick-and-mortar stores and moving into the suburban malls once considered doomed as more Americans shopped online.

Associated Press, Dec 13 2018

full story »

India’s sugar output may drop next year

India’s sugar production could fall in 2019/20 as farmers are struggling to plant cane because of a drought in two of the country’s top producing states, according to multiple industry officials and traders.

Reuters, Dec 13 2018

full story »

‘Fed shouldn’t hike rates’

President Donald Trump said on Tuesday it would be a mistake if the Federal Reserve raises interest rates when it meets next week, as it is expected to do, continuing his criticism of the US central bank.

Dec 13 2018

full story »

Trump says China ‘back in the market’ for US soybeans

President Donald Trump said on Tuesday that China was buying a “tremendous amount” of US soybeans and that trade talks with Beijing were already under way by telephone, with more meetings likely among US and Chinese officials.

Reuters, Dec 13 2018

full story »

Saffron output hits record high in Afghanistan

Saffron production in Afghanistan has risen to record levels this year with a 22 percent increase compared to last year, Afghan Ministry of Agriculture Irrigation and Livestock said on Wednesday.

Xinhua, Dec 13 2018

full story »

Hitachi moves to buy ABB’s power grid unit for $7b

Japan’s Hitachi is moving to purchase the power grid business of Swiss engineering giant ABB for a deal worth as much as $7.05 billion, local media reported on Wednesday.

Dec 13 2018

full story »

Philippine FDI net inflows hit $8 billion

Foreign direct investments (FDI) net inflows into the Philippines grew by 24.2 percent to $8 billion from $6.5 billion in 2017 on account of the increases registered in all FDI components, the Philippine central bank said on Wednesday.

Dec 13 2018

full story »

Spain to raise minimum wage 22pc in 2019

Spanish Prime Minister Pedro Sanchez said on Wednesday his cabinet would approve next week a 22 percent increase in the monthly minimum wage to1,050 euros ($1,192) in 2019.

Dec 13 2018

full story »

Raising cattle a risky business for Venezuela ranchers

Rotting hides on the road are all that is left of three butchered cows.Such carnage is common in Venezuela’s cattle country, where thieves, squatters and government policy threaten a vital food resource.

Agence France-Presse, Dec 13 2018

full story »

Greece scraps pension cuts as finances recover

Greece’s parliament on Tuesday voted to scrap plans to cut state pensions, in a motion led by the left-led governing coalition hoping to shore up its flagging support ahead of a general election next year.

Reuters, Dec 13 2018

full story »

Samsung to close mobile phone plant in China’s Tianjin

Samsung Electronics will cease operations at one of its mobile phone manufacturing plants in China, the company said, as its sales in the world’s biggest smartphone market slumps amid rising competition from lower-cost local rivals.

Reuters, Dec 13 2018

full story »

Britain’s financial sector faces ‘slow puncture’

Life in London’s financial district will appear little changed when Britain leaves the European Union on March 29, defying predictions of an exodus of high-flyers to rival centres like Paris, Frankfurt and Dublin.

Reuters, Dec 13 2018

full story »

Red tape, funding problems hamper Lion Air black box search

Bureaucratic wrangling and funding problems have hampered the search for the cockpit voice recorder of a crashed Lion Air jet, prompting investigators to turn to the airline to foot the bill in a rare test of global norms on the probe’s independence.

Reuters, Dec 13 2018

full story »

Chiefless Nepal Oil Corp may get new boss soon

Nepal Oil Corporation, which has been without a chief for more than a year, is likely to get a new managing director soon as its line ministry plans to send the names of the three final nominees to the next Cabinet meeting for its approval.

Rajesh Khanal, Dec 13 2018

full story »

Electricity imports during peak hours up 30 percent

Electricity imports from India during peak hours jumped more than 30 percent in the past month following a sharp fall in domestic production due to shrinking water levels in the rivers where a majority of the hydropower plants are located.

BIBEK SUBEDI, Dec 13 2018

full story »