Thread: Company News by ForexMart

Unemployment Rate in France Drop in September

The total unemployment figures of France reduce in September based on the records from the Labour Ministry issued on Tuesday. This encourages French President Emmanuel Macron to execute further efforts to improve the job market.
The number of unemployed individuals in the mainland France was lowered down by 64,800 last month, this is the largest decrease since 1996.
The 1.8 percent drop after a month and 0.5 percent within a year resulted in a total of 3,475,600 jobless people which is the lowest level from the month of April.
The improvement was achieved due to reform efforts by Macron’s leadership that created more jobs and increased growth.

President Macron is considering the reduction of unemployment in the country down to 10 percent for years, overhauling the rules of labor industry last month. This could be followed by some changes in unemployment benefits and professional training subsequently.
The business confidence of France also perked up since Macron’s victory in May elections. The French politician pro-business reform agenda tend to shift company’s activities upwards in order to manage robust demand, according to a survey published on Tuesday morning.
Moreover, the emergence of new businesses led companies to hire additional workers in October which could regulate rising backlogs, hence, this is the fastest pace recorded in a decade based on the monthly purchasing managers survey.

On the other hand, industrial firms reported that their efficiency is moving towards the highest levels prior the outset of 2008-2009 global financial crisis indicated in a quarterly survey by the INSEE statistics agency on Tuesday. The expanding number of companies seems struggling to keep up with the demand. There are 32 percent of managers who admitted facing some congestion in the production system. This could be a positive indicator for the job markets considering that companies are forced to take more laborers in order to cope the demands of the client, therefore, reducing the unemployment rate.


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Possible Deflation Period of Japan to End Before the Tax Rate Hike in 2019

The government could conclude that the economy has been a steady growth to end the deflation period prior to a tax rate hike in October 2019, according to the government authorities.
This report would support Prime Minister Shinzo Abe, who just won the ruling Liberal Democratic Party in Sunday’s election. At the same time, this is in-line of the “Abenomics” stimulus policies implying that it is executed accordingly.

The government is yet to determine when it can be declared that the deflation has officially ended. Hence, the announcement of the government in ending the deflation was put aside, considering the feeble state of the economy and its recovery with the risk of price depreciating again. This can be publicized when the consumer inflation rises to levels around 1 to 15 percent while maintaining the gross domestic product (GDP) deflator, which is another measure of prices, more than 1 percent at a steady pace, stated by one of the officials.

The Core consumer prices increase by 0.7 percent in August since 2016 considering the increase for eight consecutive months. At the same time, this shows positive signs of growth in the economy.

The GDP deflator declined by 0.4 percent for three months until June in the same period from last year and an overall decline for four succeeding quarters.

Japan has been in a difficult pace for 15 years in the process of deflation since the bubble burst in inflation of assets in the late 1990s. It has been Abe’s top priority since he seated as the prime minister since 2012.

Abe mandated to halt the deflation and the governor of Japan’s central bank, Haruhiko Kuroda vowed to attain the 2 percent inflation target of the central bank through aggressive easing of monetary policies.

On the other hand, ending the deflation would stimulate the private consumption by boosting the public sentiment. Also, this would give grounds to proceed with the planned sales tax hike from 8 percent to 10 percent in the next two years as mentioned by the government officials.

Another official has supported this statement saying that it would be favorable to continue with the hike. However, these statements would not induce the Bank of Japan to reverse its huge monetary program because inflation would still be insufficient to reach the two percent target which they also noted.


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Lebanese Pound Stabilized After PM’s Resignation

The central bank of Lebanon has assured that the Lebanese pound has been steadfast, according to the state-run National News Agency even after the unexpected resignation of the country’s prime minister Saad al-Hariri

The central bank along with the financial sector has executed financial operations in the assessment of Governor Riad Salameh. The Lebanese currency is set at an approximated value of 1,500 against the dollar.


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Shenzhen Topped as the Most Innovative City in China, says HSBC

Based on the new research led by the HSBC, companies that are located at Shenzhen in Southern China are considered the most innovative, even though a lot of traditional manufacturers shifted into the new economy along with the growing start-up sectors.

For ages, policymakers in the country are expecting for further innovation in order to heightened growth. This was reiterated by President Xi Jinping during his policy address during Chinese Communist Party’s 19th Congress in October, urging for greater modernization from Chinese firms and to acquire big data as well as to improve internet technologies and artificial intelligence.

The HSBC report assessed the “innovative power” of more or less 1,200 companies in China that were included in the list, the result shows that Shenzhen-based businesses obtained the highest average score. The main category for the assessment is gauged according to the range of its research and development investment statistics, total patent applications, as well as the inventive business model compared with other features.

The city was hailed as the most competitive urban in China, and ranked sixth most competitive all over the world, as shown in a separate data from the UN and the Chinese Academy of Social Sciences released last month.

Shenzhen is composed of more than one million private companies which includes business giants such as Tencent Holdings, BYD Auto Co., and Huawei and ZTE.

Other reports also presented that few of industrial provinces take after the ranking, particularly the plateau province of Shanxi, the northern Chinese province is known for its coal mining livelihood. Also, the northeastern Liaoning province is recognized for ferrous metals production and mining. The districts gained 34 percent and 29 percent in 2016, respectively, despite low levels of inflation.

Generally, the current “innovative power” from Beijing-based companies increased by 13 percent compared with the survey last year.

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