Spain’s econ­omy to grow 2.6%

China Daily (Hong Kong) - - BUSINESS -

has agreed to work with a Chi­nese zone to pro­mote in­vest­ment and fin­tech in both coun­tries, Abu Dhabi’s fi­nan­cial free zone said on its web­site on Mon­day. Abu Dhabi Global Mar­ket, the fi­nan­cial free zone in the cap­i­tal of the UAE, an­nounced in a state­ment that its reg­u­la­tory body has signed an agree­ment with the Au­thor­ity of Qian­hai Shen­zhen-Hong Kong Mod­ern Ser­vice In­dus­try Co­op­er­a­tion Zone. “The agree­ment aims to fa­cil­i­tate greater in­vest­ment co­op­er­a­tion and op­por­tu­ni­ties, as well as to strengthen the fi­nan­cial and fin­tech ecosys­tems in both mar­kets,” added the state­ment. The move, ac­cord­ing to ADGM, was to sup­port China’s Belt and Road Ini­tia­tive, a grand project with the goals of build­ing trade and in­fra­struc­ture net­works con­nect­ing Asia with Europe and Africa on and be­yond the an­cient Silk Road routes. 5.4 per­cent, con­sid­ered fa­vor­able in the EU where the av­er­age rate is cur­rently 7.8 per­cent. The fall in job­less fig­ures has been ob­serv­able as a trend for sev­eral months, and this time marks the largest drop seen so far in 2017. A no­table 15.7 per­cent de­crease in un­em­ploy­ment was recorded among young peo­ple, while men saw a larger 6.5 per­cent drop in their job­less num­bers than women on 3.2 per­cent. For­eign na­tion­als for whom a long-stand­ing trend to­ward ris­ing un­em­ploy­ment had been seen, also saw a de­cline of 3.7 per­cent. Spain’s econ­omy is ex­pected to grow by 2.6 per­cent in 2018, ac­cord­ing to a fore­cast by the Span­ish govern­ment on Mon­day. The govern­ment has re­vised up its eco­nomic pre­dic­tions for both 2017 and 2018. The Span­ish econ­omy would grow by 3 per­cent this year, as op­posed to the pre­vi­ously pre­dicted 2.7 per­cent, and by 2.6 per­cent in 2018, as op­posed to the pre­vi­ously pre­dicted 2.5 per­cent. The govern­ment also pre­dicted a 17.4 per­cent un­em­ploy­ment rate for 2017, which is 0.1 per­cent­age point lower than the rate pre­vi­ously pre­dicted, and a 15.4 per­cent un­em­ploy­ment rate for 2018, which is 0.2 per­cent­age point lower than the pre­vi­ous fore­cast. The govern­ment es­ti­mated that this year a to­tal of 518,000 jobs will be cre­ated which will help cut un­em­ploy­ment by 488,000 to 3.75 mil­lion peo­ple. In 2018, it is ex­pected that there will be 503,000 jobs more, while the num­ber of un­em­ployed peo­ple would fall by 393,000 to 3.36 mil­lion.

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