Eurozone Industrial output rises 2.1% on Ireland Surge

Eurozone industrial production grew at its highest rate in more than six years during January, driven by a sharp increase in output from Ireland.

Production rose by 2.1% across the 19-member euro area, reversing negative readings in December and November. 

It is the highest monthly rise since September 2009, when monthly output jumped 2.3%.

Wall St sell-off Relentless as Oil Prices Sink

WALL Street moved deep into the red in volatile trading on Wednesday, extending this year’s sell-off as oil prices continued to plummet unabated.

The rout was across the board: all 30 Dow components and all 10 major S&P sectors were in the red, with five down more than 3%. The small-cap Russell’s 2000 index fell 2.7%.

The New York Stock Exchange recorded 1,314 stocks hitting new 52-week lows, while 809 sank to new lows on the Nasdaq, the most on a single day since August 24 for both exchanges.

The beaten-down S&P energy sector’s 5% fall led the decliners. Chevron dropped 5.3% and Exxon 3.2%. U.S. crude prices sank 6.6% and Brent crude fell 4.7% as a supply glut bumped up against bearish financial news that deepened worries over demand.

Joint-Ventur Partnership in Local production of milk Receives Boost

A joint-venture agreement to build the expertise in the local production of milk has been formalised in Kumasi.

This led to the signing of a pact between the Kwame Nkrumah University of Science and Technology (KNUST) and Peak Investment Capital (PIC), a Social Enterprise and Investment Fund committed to capacity-building.

The company, working in collaboration with some international organisations, would assist the University, Ghana’s premier science and technology institution, to boost its research capacity to engender innovations and development of new products within the diary production line.