For many Pakistani Muslims, visiting a shrine and donating money to beggars go hand in hand.
Pakistan's incoming Prime Minister Nawaz Sharif addresses his party's newly elected MPs in Lahore on May 20, 2013.
Japan’s core consumer price index fell 0.4 percent in April from a year earlier, while industrial production also weakened, the government reported Friday.
The data offer scant evidence of a rebound, though officials say the economy is on the cusp of a recovery and should show stronger gains by midyear.
Industrial production fell 2.3 percent from a year earlier though it was up a seasonally adjusted 1.7 percent from the month before. The strongest gains were in autos and other transport equipment and in electronic components and devices, according to the Ministry of Economy, Industry and Trade.
Despite recent turmoil in financial markets, Prime Minister Shinzo Abe has vowed to persist in aggressive monetary easing and stimulus spending aimed at helping Japan break out of deflation, or falling prices, that has contributed to two decades of economic stagnation.
“No action, no growth,” he declared to a group of economic experts gathered this week in Tokyo to assess his “Abenomics” policies.
Japan’s benchmark Nikkei 225 stock index was trading 2.1 percent higher early Friday after tumbling 5.2 percent the day before, as investors responded to retreats in other major markets.
Abe characterized recent market gyrations as “routine financial phenomena.”
via Mainichi
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Eurozone unemployment has hit a fresh high with young people the hardest hit as now almost one in four under-25s are out of work in the crisis-stricken currency bloc.
Eurozone unemployment rose to 12.2% for April, an all-time high, according to Eurostat, the statistics office of the EU.
At 24.4%, youth unemployment was double the wider jobless rate and up from 24.3% in March. The problem was most extreme in Greece where almost two out of every three under-25s are unemployed. The rate was 62.5% in February, the most recently available data.
The numbers come just days after eurozone leaders announced plans to get more young people into work as they face warnings about the risks of civil unrest and long-term costs to their economies.
Economists forecast that joblessness will get worse before it gets better in the eurozone.
via The Guardian
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Italy’s overall jobless rate and youth unemployment edged up in April to the highest levels on record, data showed on Friday.
Unemployment rose to 12.0 percent from an upwardly revised 11.9 percent in March, statistics office ISTAT said. The youth jobless rate increased to 40.5 percent from 40.3 percent the month before.
Both figures were the highest since records began in 1977.
Prime Minister Enrico Letta, who came to power in April after two months of political deadlock, has made tackling unemployment a priority and pushed for it to be a central theme at a European Union Council meeting in June.
via CNBC
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ndia’s economy grew at its slowest pace in a decade during the 2012-13 financial year, figures show.
The economy grew by 5% over the year, after having grown at an annual pace of 4.8% in the January-to-March quarter.
India was recording annual growth of 9% until two years ago, but in recent months it has seen a sharp decline blamed on a slowdown in its manufacturing and services sectors.
Foreign investors have also kept away due to delays in key reforms.
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Fewer jobs in sluggish economy
Engineering graduate Viraj Modi finished university last year and is now set to leave the country.
One factor is India’s weakening job market.
“Companies now want a perfect candidate. Because of the global recession they are cutting down the job opportunities.”
Falling orders and fewer jobs
According to the latest figures released by the ministry of statistics, India’s manufacturing sector grew at an annual pace of 2.6% during the latest quarter while farm output rose by just 1.4%.
via BBC
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The BCC said it expected output to increase by 0.9% this year, up from a previous growth prediction of 0.6%.
It sees gross domestic product (GDP) for 2014 being raised from 1.7% to 1.9%, and for 2015 from 2.2% to 2.4%.
“The upward revision in our growth forecasts is encouraging,” said BCC director general John Longworth.
He told the BBC that many businesses were telling him conditions were not too bad.
“Businesses tend to say ‘we’re doing OK’,” he said. “Businesses are in fact doing OK – not great, but OK.”
via BBC
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Unemployment has reached a new high in the euro zone and inflation remains well below the European Central Bank’s target, stepping up pressure on EU leaders and the ECB for action to revive the bloc’s sickly economy.
Joblessness in the 17-nation currency area rose to 12.2 percent in April, EU statistics office Eurostat said on Friday, marking a new record since the data series began in 1995.
via Reuters
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