German GDP ‘stalled’

FRANKFURT: Economic activity in Germany, Europe’s biggest economy, stalled in the final three months of 2005. GDP did not change after expanding by 0.6 per cent in the third quarter. The flat GDP figure was below the 0.1 per cent growth. But the growth rate was one per cent higher than in the same quarter a year ago - a figure that the agency said was the result of ‘very dynamic trade.’ — AP

US economy expands

WASHINGTON: Federal Reserve governors agreed last month that the US economy was expanding at a ‘solid pace’, according to the minutes of their meeting which suggested more interest rate hikes could lie ahead. The minutes of the meeting of Federal Open Market Committee show the board voted unanimously to raise the benchmark federal funds rate by a quarter point to 4.5 per cent. — AFP

HK economy grows

HONG KONG: Hong Kong’s economy grew by 7.6 per cent in the fourth quarter from a year ago, thanks to healthy consumer spending, capital investment and exports. That was stronger than economists’ projections of 7.2 per cent growth in the October-December quarter, but down from the 8.3 per cent growth notched in the third quarter. For the full year, Hong Kong grew by 7.3 per cent last year, down from the 8.6 per cent growth achieved in 2004. — AP

Airbus to form JV

SINGAPORE: Airbus plans to form a joint venture in India to open an engineering and service centre, and hopes to also launch a joint assembly line in China. The centre in India will cater to growing number of airlines, with its service unit to focus on information software. The engineering division will involve subassembly manufacturing similar in the US. — AP

Bio-gas plant popular

RAMECHHAP: Farmers in Ramechhap have been keen to install bio-gas plant after they came to know that bio-gas can be used for generating electricity as well as cooking purpose. Government has specified the provision of subsidy for installation of bio-gas plant through Alternative Energy Promotion Centre (AEPC). — RSS

Industrial exhibition

RASUWA: A two-day long industrial exhibition organised by Cottage and Small Industry Development Board, Rasuwa concluded here on Monday in Dhunche. — RSS