BIZ BRIEFS

Industrial output dips :

TOKYO: Japan said on Wednesady that industrial output for July fell by 0.9 per cent. The trade ministry revised July shipments to a 0.5 per cent fall from the originally announced 0.6 per cent drop, while inventories were down by 0.7 per cent rather than the initital one per cent fall. — AFP

V’nam cuts fuel prices :

HANOI: Vietnam has cut petrol prices by more than eight per cent in response to easing global crude prices, as the communist nation shifts toward a more flexible pricing system in the state-run sector. Petrol prices now range from $0.66-0.69 per litre following a 1,000 cut on Tuesday. — AFP

Industrial output dips :

BEIJING: China’s industrial output growth slowed for a second consecutive month in August, growing by 15.7 per cent compared with a year earlier. The figure was released as other measures of the Chinese economy, most importantly investment in fixed assets, were also slowing down. — AFP

Consumer confidence :

SYDNEY: Australian consumer confidence bounced back in September after a fall in fuel prices. The consumer sentiment index rose by 12.5 per cent to 101.2 in September, recovering from a 16.2 per cent slump in August to 90. — AFP

S Korean incentives :

SEOUL: South Korea expanded state incentives for foreign investors to attract more high-technology research outfits. Tax breaks of up to seven yea-rs and other financial support, form-erly available only to foreign profit-making businesses, have been granted to overseas non-profit entities.— AFP