Lending to non-financial businesses shrank by a net 1.3 billion pounds. However, within that, lending to smaller firms rose by 238 million pounds, compared with the average monthly fall of 500 million pounds over the previous six months.
It was also the largest increase since records began in April 2011, although on the yearly basis it was still down more than 3 percent....continue Britain's economy sped up between April and June on the back of stronger spending by consumers and businesses and giving a boost to the government less than two years before an election.
It came at the same time as a raft of UK company earnings reports showing growth picking up. Gross domestic product rose 0.6 percent in the second quarter compared with the previous three months, in line with forecasts, preliminary data from the Office for National Statistics showed. That was double the pace of growth in the first three months of the year but the economy still remains smaller than before the 2008-09 recession, suggesting to some economists that it still needs nurturing by the Bank of England....continue India now leads the United States in the purchase of crude oil from Nigeria, Indian High Commissioner to Nigeria Mahesh Sachdev has said.
He said recent statistics showed that India had been buying more of Nigeria’s crude than the US over the last three months. “India will continue to cooperate with Nigeria to improve its economy and it will also assist the country in capacity building of workers in both the public and private sectors,” Sachdev said during a courtesy visit to the Governor of Niger state in northern Nigeria last Wednesday. On the bilateral trade, he said the present figure stands at USD 10 billion even as the total investment of India in Nigerian economy could be valued at USD 16.6 billion. He disclosed that India would partner with the government of Kano state to establish a film city and also collaborate with the Niger state government to establish health care facilities as well as improve agriculture. He also promised assistance in the state on the training of young people who wish to embark on vocational education. Governor of the state Babangida Aliyu commended India for being one of the few countries that had kept faith with strengthening the work force. According to him, this has helped Nigeria to develop in every ramification...continue |