Business confidence

PARIS: Economic indicators for the eurozone released this week will show that business confidence stabilised in January following gains at the end of last year. Meanwhile, the first figures for consumer prices will show that inflation in the eurozone is likely to edge up this month. Germany, France, Italy and Belgium are all set to report key business confidence numbers, with the main focus of attention likely to be the German Ifo business climate index. — AFP

S Korea retail growth

SEOUL: South Korea, Asia’s fourth largest economy, forecast continued retail growth this year as domestic demand picks up. It is expected that sales to grow by four per cent year-on-year at department stores, 8.6 per cent at shopping malls and 26 per cent on the Internet in 2006 — compared with growth of 5.8 per cent, 4.8 per cent and 39.8 per cent respectively in 2005. — AFP

Beijing GDP growth

BEIJING: The economy in China’s capital Beijing grew by 11.1 per cent last year, partly due to a property market that is booming ahead of the city’s hosting of the 2008 Olympic Games. GDP reached $85 billion in 2005. Per capita GDP reached $5,457 last year, putting Beijing residents on par with counterparts in moderately developed countries such as Malaysia or Thailand. Since the city won the bid to host the games, fixed-asset investment has doubled. — AFP

Japan, US trade row

TOKYO: Opposition leaders in Japan took the government to task on Sunday for lifting a ban on US beef imports last month, only to be forced to reimpose it over a shipment containing banned animal matter. Tokyo had agreed to resume US beef imports last month provided they came from US cattle no more than 20 months old and risky animal parts, such as brains and spinal material, were removed. But a US beef shipment flown into Tokyo’s Narita airport on Friday was found to include spinal columns, prompting Japan to reimpose the ban over fears of mad cow disease. — AFP

Mercedes-Benz sales

BEIJING: DaimlerChrysler-owned Mercedes-Benz sold 16,128 sedans in China last year, up by 39 per cent from the previous year. Mercedes planned to invest $1.8 billion to produce cars in China, where a booming economy is creating a growing class of wealthy consumers. China’s mainland currently has 160 million ‘luxury consumers’, accounting for 13 per cent of the total population. — AFP

Thai auto output rises

BANGKOK: Thailand’s auto industry beat expectations in 2005, but industry leaders say high oil prices, rising interest rates and a shortage of labour could mean more modest growth in the future. Total production hit a record 1.1 million units last year, making Thailand the world’s 14th largest automaker, with records also set for both domestic sales and exports. The statistics compiler, Toyota Motor Thailand, and the Automotive Industry Club predict domestic sales will increase about five per cent next year to about 735,000 units. — AFP

Connection new issue

KATHMANDU: Fourteenth edition of Connection Yellow Pages has been circulated in the market from Sunday with an additional information such as Nepal’s export, import, VAT, customs information, along with other information on businessmen, researchers and tourists, states a press release. — HNS

Asian currencies fall

HONG KONG: Asian currencies fell against the dollar with the Japanese yen down slightly after a tumultuous week on the Tokyo stock exchange. The yen swung back and forth in the lower-115 range against the dollar but remained relatively stable considering the week of tumult on the Tokyo stock market over the scandal at Internet trailblazer Livedoor. — AFP

Reliance new schemes

New Delhi: Telecom major Reliance Infocomm today announced a new offer that provides free calls worth Rs 2,000 Indian Currency (IC) and 2,000 free SMSs with the purchase of five new mobile phone models. The phones are priced between Rs 2,000 IC for models with black and white displays and Rs 7,000 IC for a colour display with a camera. — HNS