WASHINGTON: The US consumer prices jumped last year at the fastest pace in four decades, the government confirmed on Wednesday, underscoring the potent inflation wave that has sapped public support for President Joe Biden even as the economy recovers from the pandemic. The seven per cent increase in the Labor Department’s consumer price index (CPI) over … Read more
KARACHI: There has been a significant increase in the tyre prices due to higher cost of production/import emanating from depreciating rupee, increase in regulatory duty by 10 per cent to 25 per cent and an increase in the Customs valuation, the predetermined value on which the taxes are imposed. Moreover, lesser inflows of smuggled goods … Read more
The emergence of the Omicron variant has thrown early signs of recovery in the global supply chain into doubt across the world, including in the Middle East and North Africa, Arab News reported. “There may still be swings, but overall, I think the worst is over,” said Esben Poulsson, who chairs the International Chamber of Shipping, on … Read more
FRANKFURT: German exports bounced back in October from a slump caused by global supply chain bottlenecks, official data showed on Thursday, but analysts warned that the emergence of the Omicron coronavirus variant could cast a shadow over recovery prospects. Europe’s largest economy exported 121.3 billion euros’ ($137.4 billion) worth of goods in October, 4.1 per cent … Read more
BERLIN: Global supply-chain issues dampened the German sportswear giant Adidas third quarter results, with the company revising down its estimated gross profit margin for the year on Wednesday. The company “performed well in an environment characterised by severe challenges on both the supply and demand side”, Adidas CEO Kasper Rorsted said in a statement. Difficult market … Read more
