top of page
Long-time Chief Executive Officer Ben Silbermann of Pinterest would step down, handing over the reins of the social media platform to Google...

Stock Market

Google executive to take over as a new CEO of Pinterest

Top accounting firm Ernst & Young has been slammed with a record $100 million fine from the US government...

Stock Market

Accounting firm gets 100 million fine for faulty regulations

The Indian rupee slipped into a fresh low today and extended losses against the US dollar.


The rupee tumbled to a new low against the dollar in the midst of an increase in crude oil price

Wall Street saw a sharp fall at its closing in a broad sell-off. Consumers' worries over recession have sparked up...

Stock Market

Wall Street Lose Balance after recession strikes growth fear among consumers’

Soaring inflation may be pushing the US economy into a deep recession. Last week's 0.75% interest rate hike by the Federal Reserve...

Stock Market

Inflation ringing the recession bell - Mohammed Shaheen

Economic Indicator

6 Dec 2021

German Industrial Orders fell due to Weaker Foreign Demand in October

The Index Today

Data showed on Monday that the German industrial orders went down more than expected for October due to weaker foreign demand for capital goods such as cars, further clouding the growth outlook for manufacturers in Europe's largest economy.

Due to pandemic-related scarcity of microchips and other electronic components has caused massive supply bottlenecks and production problems in Germany's mighty automobile industry and other important sectors of the economy.

Figures from the Federal Statistics Office showed that orders for goods 'Made in Germany' dropped 6.9% on the month in seasonally adjusted terms after a revised increase of 1.8% in September.

A Reuters poll of analysts had pointed to a smaller decline of 0.5% on the month.

VP Bank analyst Thomas Gitzel said that new lockdowns in Asia are slowing down the industry in Germany, adding that the current wave of coronavirus infections across the globe was putting a renewed burden on the world economy.

Gitzel added that domestic demand should remain strong, helped by the new ruling coalition's commitment to massive investment in the green economy.

"The decarbonization of the economy requires major investments in new technologies. German industry can and will benefit from this," Gitzel said.

©Photo: equiti

Clay pottery with table linens
bottom of page