German exports up

WIESBADEN: The stronger-than-expected pick-up in growth of the German economy in the third quarter was driven primarily by buoyant exports, but also by a rebound in domestic investment. By contrast, consumer demand, the Achilles’ heel of activity in the eurozone’s biggest economy, declined again for the third consecutive quarter. — AFP

FDI rises in Indonesia

JAKARTA: Foreign direct investment (FDI) approvals in Indonesia rose to $11.20 billion in the 10 months from $9.19 billion in the same period last year. Actual FDIs in the 10 months to October amounted to $8.55 billion or up by 165 per cent from $3.22 billion recorded a year earlier. — AFP

LBL has fifth branch

BIRATNAGAR: Lumbini Bank Ltd (LBL) has opened its fifth branch in Biratnagar. Earlier, the bank had branches in Hetauda, Narayanghat, Butwal and Kathmandu apart from its head office in Kathmandu. After the establishment of LBL branch, the number of private sector-run banks in Biratnagar reached 16. The branch has a preliminary current capital of Rs 5 million.


Tea exports increase

BIRTAMODH: Two-thousand seventy-six metric tonnes of tea has been exported to India and other third countries from Kakadbhitta, the eastern border point of Nepal till November 15. According to the Mechi customs office, Nepal exported 2013 metric tonnes of tea to India and 63 metric tonnes to other overseas countries within the last four months of current fiscal year. Mechi customs office also said that 4013 metric tonnes of tea was exported in the

fiscal year of 2061-62 BS, out of which India accounts for 3060 metric tonnes and other third countries 40 metric tonnes. — RSS

HK inflation goes up

HONG KONG: Consumer prices in Hong Kong rose in October to 1.8 per cent from a 1.6 per cent inflation rate in September. The increase was attributed to the continued rise in housing rents and the prices of fresh vegetables. This essentially is a manifestation of a reflation process, as local costs rise in tandem with the economic upturn. Deflation has been a persistent problem in Hong Kong for several years as the economy has struggled. — AFP

Thai trade deficit

BANGKOK: Thailand posted a trade deficit in October as imports grew faster than exports on the back of soaring global oil prices. The October deficit reached $185.3 million, reversing a trade surplus of $920.0 million in September. October exports rose by 8.4 per cent year-on-year to $9.57 billion but imports expanded a bigger 18.3 per cent to $9.76 billion. — AFP