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BUSINESS Thursday 9 March 2017
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China’s exports rise in first two months of the year

JOE McDONALD ports rose 26.4 percent to at the start of 2017,” Julian ploy millions of people. see a slowdown in domes-
AP Business Writer $260.6 billion, accelerating Evans-Pritchard of Capital “We expect external de- tic demand.”
BEIJING (AP) — China’s im- from December’s 3.1 per- Economics said in a report. mand to remain fairly strong The country’s top eco-
ports and exports grew in cent growth. Last year, exports shrank by during the coming quar- nomic official, Premier
the first two months of this Analysts often look at Janu- 7.7 percent. Weak global ters,” said Evans-Pritchard. Li Keqiang, on Sunday
year after weakening to- ary and February together demand is a drag on Bei- “However, we doubt that trimmed this year’s official
ward the end of 2016. to screen out the impact of jing’s efforts to nurture the current pace of import growth target to “around
Exports rose 4 percent from the two-week Lunar New self-sustaining economic growth can be sustained,” 6.5 percent,” down from
a year earlier in January Year holiday, which begins growth based on con- he said. “With growth in last year’s expansion of 6.7
and February to $302.8 bil- on a different date each sumer spending instead China currently running percent. If achieved, that
lion, rebounding from a year. “The latest trade data of trade and investment. above trend and both would be China’s weakest
6.1 percent contraction in suggest that, seasonal dis- Those plans call for keeping monetary and fiscal policy rate since 1990 but among
December, customs data tortions aside, both exports exports steady to avoid job being tightened, it is only a the world’s strongest this
showed Wednesday. Im- and imports strengthened losses in industries that em- matter of time before we year.q

In world first, Iceland to require firms to prove equal pay

JILL LAWLESS cause it has support from
Associated Press both the center-right gov-
LONDON (AP) — Iceland ernment and opposition
will be the first country in the lawmakers.
world to make employers The government hopes to
prove they offer equal pay implement it by 2020.
regardless of gender, eth- Iceland has introduced
nicity, sexuality or national- other measures to boost
ity, the Nordic nation’s gov- women’s equality, includ-
ernment said Wednesday ing quotas for female par-
— International Women’s ticipation on government
Day. committees and corporate
The government said it will boards.
introduce legislation to par- Such measures have prov-
liament this month, requir- en controversial in some
ing all employers with more countries, but have wide
than 25 staff members support across Iceland’s
to obtain certification to political spectrum.
prove they give equal pay Viglundsson said some
for work of equal value. people had argued the
While other countries, and equal-pay law imposes un-
the U.S. state of Minneso- needed bureaucracy on
ta, have equal-salary cer- firms, and is not necessary
tificate policies, Iceland is People look at the Icelandic parliament the Althing in Reykjavik. Iceland will be the first country in because the pay gap is
thought to be the first to the world to make employers prove they offer equal pay regardless of gender, ethnicity, sexuality closing.
make it mandatory for both or nationality, the Nordic nation’s government said on International Women’s Day, Wednesday “It is a burden to put on
private and public firms. March 8, 2017. (AP Photo/Frank Augstein) companies to have to
The North Atlantic island comply with a law like this,”
nation, which has a popu- “Equal rights are human the best country in the onstrated outside parlia- he acknowledged.
lation of about 330,000, rights,” he said. “We need world for gender equality ment to protest the gender “But we put such burdens
wants to eradicate the to make sure that men and by the World Economic Fo- pay gap. Women’s rights on companies all the time
gender pay gap by 2022. women enjoy equal oppor- rum, but Icelandic women groups calculate that after when it comes to auditing
Social Affairs and Equal- tunity in the workplace. It still earn, on average, 14 to that time each day, wom- your annual accounts or
ity Minister Thorsteinn Vi- is our responsibility to take 18 percent less than men. en are working for free. turning in your tax report.
glundsson said “the time is every measure to achieve In October thousands of The new legislation is ex- “You have to dare to take
right to do something radi- that.” Icelandic women left work pected to be approved by new steps, to be bold in the
cal about this issue.” Iceland has been ranked at 2:38 p.m. and dem- Iceland’s parliament be- fight against injustice.”q

Japan’s economic growth below estimates in last quarter

ELAINE KURTENBACH nual growth for the world’s to be the main factor be- fell for the second straight Abe has struggled to deliv-
AP Business Writer No. 3 economy. It was be- hind the slight upgrade. quarter, he noted, and was er on promises of sustained,
TOKYO (AP) — Revised low economists’ forecasts Private demand remained the lowest it has been since stronger growth as frugal
data show Japan’s econ- for growth of 1.4 percent or flat, and public spending the Prime Minister Shinzo consumers and companies
omy expanded at a slower higher. fell slightly. Abe launched his “Aben- have opted to save rather
than hoped for 1.2 percent In quarterly terms, the econ- “In fact, the data underline omics” recovery program than spend more.
annual pace in the last omy expanded 0.3 percent that the large fiscal stimu- of public spending, lavish Instead, corporations are
quarter of 2016. in the October-December. lus package revealed last monetary stimulus and re- investing heavily abroad, in
The figure released The earlier estimate was 0.2 July remains but a mirage,” forms. markets that promise faster
Wednesday was slightly percent. Marcel Thieliant of Capital There was no change in the growth than in aging Ja-
higher than the preliminary A slight increase in corpo- Economics said in a com- estimate of 1.0 percent an- pan, where the population
estimate of 1.0 percent an- rate investment appeared mentary. Public investment nual growth in 2016. is shrinking.q