According to the New York Times, “China’s manufacturing sector rebounded in June, showing signs of growth for the first time this year, according to a purchasing managers’ index (PMI) released on Monday. The preliminary reading of the P.M.I. survey for June, compiled by Markit and published by HSBC, rose to 50.8 points, up from a…
“Australia posted its biggest trade deficit in almost a year-and-a-half, as weaker iron-ore prices and a stronger Australian dollar weighed on the resource-rich nation’s export earnings. The deficit widened to 1.91 billion Australian dollars (US$1.8 billion) in May from a revised A$780 million the previous month, according to the country’s statistics bureau,” The Wall Street…
According to the Economic Times, “India’s engineering goods exports to Iraq more than halved in May and have now almost come to a halt due to ongoing clashes between government forces and rebels in the West Asian country.”
According to Bloomberg News, “Wal-Mart is counting on its online operations to help fuel sales as it grapples with a slowdown both at home and abroad. The Indian website is only for existing users of its members-only cash-and-carry stores and may help draw orders from small businesses more than 20 kilometers (12 miles) from outlets…
According to a report by Forbes, “Global healthcare major Abbott Laboratories has agreed to acquire Russian pharmaceutical company Veropharm for between 13.6 billion and 17 billion rubles ($395 million – $495 million) in an all-cash deal. Veropharm is one of the leading generic drug manufacturers in Russia and the deal is likely to give Abbott…
Economists and shipping and oil company A.P. Moeller-Maersk A/S are stunned over China’s rejection of a freight agreement that would have changed the way countries handled imports and exports.
L&T’s chairman AM Naik spoke with the Economic Times regarding the state of jobs in India — specifically in the manufacturing and trade industries. The India-based engineering and technology firm wants the government to recognize just how the country’s current economy is keeping India from achieving global success with these sectors.
According to the Daily Mail, “About 250 Ford Australia workers will lose their jobs at the car manufacturer’s Broadmeadows and Geelong factories, it has been revealed. The Australian Manufacturing Workers Union have confirmed to Daily Mail Australia these redundancies were a long time coming, with Ford flagging jobs were at risk earlier this year as…
Economists say a weakening ruble, as well U.S. and European sanctions, could wane on an already distressed Russian manufacturing sector. The unstable ruble has already prompted French carmaker Renault to ease off plans to manufacture vans through ZIL (a Russian truck-maker).
According to The Wall Street Journal’s Money Beat, “A smaller-than-expected trade surplus was a reflection of a fall in iron ore prices and metal ore exports for the month. Still, there is a bright spot in that Australia posted a record A$9.5 billion worth of exports to China — its biggest trading partner — despite…