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Brazil and Mexico still without auto pact, talks to continue MEXICO CITY: After two days of negotiations, Mexico and Brazil have still not reached an agreement on an auto pact and will continue discussions in the second week of March, the Mexican government said on Friday.The accord, signed in 2012, limits the export of vehicles from Mexico to Brazil.While sources have told Reuters that Brazil wants to extend the quota for three to five more years, Mexico wants to move forward with the free trade of vehicles when the pact expires on March 19."From the Mexican side, the expectation, and what was agreed upon, is that we should return to free trade," Mexican Economy Minister Ildefonso Guajardo told reporters on Friday."In any negotiation, everyone has to have the capacity to be flexible."While Mexico seeks to capitalize on its booming auto industry, Brazil is trying to protect its struggling auto sector.Copyright Reuters, 2015


Japan's NTT Comm in talks to buy German e-shelter TOKYO: NTT Communications Corp is in talks to acquire German data centre provider e-shelter for about 100 billion yen ($836 million), according to a source familiar with the matter.An acquisition of e-shelter by Nippon Telegraph & Telephone Communications is the latest in the NTT Corp's overseas expansion due to a dwindling home market.NTT bought South African IT firm Dimension Data for 382 billion yen ($3.2 billion) in 2010, followed by takeover deals with a combined ...

India says will ease foreign investment categories MUMBAI: India's Finance Minister Arun Jaitley said on Saturday the government would make no distinctions between foreign direct investments and foreign portfolio investments in a bid to simplify rules for overseas inflows. Earlier, Jaitley set the country's fiscal deficit target for the 2015/16 fiscal year at 3.9 percent of gross domestic product and said it would reduce the target gradually to 3 percent by 2017/18, one year later than previously expected.Copyright Reuters, 2015

Indian cigarette makers fall after budget hikes excise duty MUMBAI: Shares in Indian cigarette makers fell on Saturday after India's federal budget raised excise duty on cigarettes by 25 percent for cigarettes of length not exceeding 65 mm, and by 15 percent for cigarettes of other lengths.ITC Ltd slumped 7.3 percent while VST Industries lost 3 percent. Although cigarette demand is relatively inelastic, analysts have said higher taxes would hurt volume growth and force companies to diversify faster.Copyright Reuters, 2015

Bulgaria reports rare fiscal surplus for January SOFIA: Bulgaria reported a small fiscal surplus in January, mainly due to a higher tax take, finance ministry data showed, helping put the Balkan country on track to meet its annual target for a budget deficit of 3 percent of gross domestic product.The European Union's poorest member ended 2014 with a fiscal shortfall worth 3.7 percent of GDP, partly due to political instability and the collapse of the country's fourth-largest lender, Corporate Commercial Bank.At the ...

India to cut corporate tax to 25pc over four years MUMBAI: India will reduce tax on businesses to 25 percent over four years from a current 30 percent, with a view to boosting spending and job creation, Finance Minister Arun Jaitley said on Saturday, when presenting the government's full-year budget.India's corporate tax of 33.99 percent, including various surcharges over the base rate, was higher than Asia's average corporate tax rate of 21.91 percent in 2014, and a global average of 23.64 percent, according to consultant ...

Singapore LionGold exploring listing to junior bourse SINGAPORE: LionGold Corp Ltd, one of the companies at the centre of a penny stock crash in late 2013, is exploring a move to shift its listing from Singapore Exchange's main board to the junior bourse known as Catalist.The company said its board believes that the proposed transfer will provide it with a more suitable platform for the listing and trading of its shares, it said in a statement late on Friday.Share prices in LionGold, ...


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln