World Business Quick Take – Taipei Times
Consumer inflation eases
Consumer inflation slowed last month due to falling pork prices, official data showed yesterday, although costs out of the plant remained high after a recent surge in prices for pork. raw materials. The world’s second-largest economy has rebounded significantly from the COVID-19 hit, and factory-exit inflation began to slow last month after reaching its highest rate in more than a decade earlier this year , as commodity prices have skyrocketed. So far, factories appear to be absorbing the costs rather than passing them on to consumers, and analysts expect Beijing to shield buyers from rising costs. The Consumer Price Index (CPI), a key indicator of retail price inflation, rose 1.1% year-on-year last month, below analyst expectations and down by compared to the previous month. The low CPI inflation was “largely due to falling pork prices,” said Lu Ting (陸 挺), chief Chinese economist at Nomura. The country’s CPI has been pushed up in recent years by pork prices after an African swine fever outbreak ravaged stocks.
Lenders limit collection
Risk-averse lenders are emerging as one of the biggest obstacles to speeding recovery from a slowdown amid the COVID-19 pandemic, as they withhold credit when the economy needs it most. Loans to businesses and individuals have grown at a moderate pace of 5.5-6% in recent months, half the pace seen before the pandemic, according to data from the Reserve Bank of India. The country’s largest lender, the State Bank of India, wants to nearly double its credit growth rate to 10% in the year that started April 1, but is poised to miss the target. “It is a very fragile situation,” said State Bank of India chairman Dinesh Khara.
EU wants € 47.5 billion
The EU has said the UK is required to pay € 47.5 billion ($ 56.2 billion) to the EU as part of its post-Brexit financial settlement. The EU’s consolidated budget report for last year indicated that the money is owed under a series of articles that both sides agreed to as part of the Brexit Withdrawal Agreement. However, the UK Treasury said the Brexit divorce settlement remained within its previous central range of € 40.74 billion to € 45.40 billion, the Financial Times reported on Thursday. The Treasury did not immediately respond to a request for comment. The amount of 47.5 billion euros is significantly higher than expected. The UK Office for Budget Responsibility predicted in its March 2018 Economic and Fiscal Outlook report that the bill would rise to € 41.4 billion. An initial amount of 6.8 billion euros is to be paid this year, according to the EU’s consolidated budget report.
Bukalapak sets IPO targets
Online Marketplace Bukalapak Aims To Raise Up To Rs.21.9 trillion ($ 1.5bn) In Initial Public Offering (IPO), The First Of Indonesia’s Tech Unicorns To Tap The Stock Market from the country. Bukalapak plans to offer around 19.3 billion shares at 750-850 rupees each, raising around $ 1.1 billion, under the terms of the deal. The e-commerce giant is said to be valued at around $ 5.6 billion. He also implemented an over-allotment or greenshoe option which could bring the total number of shares issued to a maximum of 25.77 billion. The company aims to debut on August 6, the company said in an IPO prospectus, taking advantage of plans to relax listing requirements.
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