German exports grow

BERLIN: German exports are continuing to grow despite the euro’s near-record strength, climbing by nine per cent on the year in February. The Federal Statistical Office said Germany exported goods and services worth a total $133 billion in February. The year-on-year growth of nine per cent was in line with the previous month’s 8.8 per cent expansion. — AP

Japan holds rates

TOKYO: Japan’s central bank said on Wednesday that it was leaving its interest rates unchanged at 0.5 per cent, as expected, amid growing worries about the health of the global economy. The unanimous decision was made at the end of a two-day meeting that the Bank of Japan was forced to hold with no permanent governor after the post fell vacant last month for the first time in eight decades. — AFP

Oasis shuts down

HONG KONG: Hong Kong-based bargain airline Oasis shut down and applied for liquidation on Wednesday, a year and a half after it launched as a specialist in long-haul budget travel. Chief Executive Stephen Miller said that Oasis has suspended its flights and that liquidators will seek new investors. The fate of its 700 employees wasn’t immediately clear. It also wasn’t immediately clear how many passengers were affected. — AP