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Colombia's central bank maintains inflation target at 2-4pc, 3pc ideal BOGOTA: Colombia's central bank board maintained a 2 to 4 percent inflation target range for 2016, bank director Jose Dario Uribe said on Friday, even as consumer prices remain well above the target. The ideal figure for inflation at the close of next year would be 3 percent, Uribe added. Copyright Reuters, 2015

LG Display plans multi-billion OLED plant SEOUL: South Korea's LG Display said Friday it planned to invest close to $9.0 billion in a new plant to produce organic light-emitting diode (OLED) displays, anticipating a surge in demand for the ultra high-definition technology.Total investment in the plant, to be built in Paju near the border with North Korea, is expected to top 10 trillion won ($8.7 billion), the company said.Expenditure in the first stage has been set at 1.84 trillion won, with ...

VW's Audi suspends two engineers in emissions probe BERLIN: Volkswagen's luxury flagship Audi has suspended two engineers after its larger diesel engines were found evading emissions limits in the United States, Audi CEO Rupert Stadler said in a newspaper interview published on Thursday. Volkswagen (VW) and Audi notified US authorities last Thursday that about 85,000 vehicles with 3.0 litre V6 diesel engines were fitted with emissions-control equipment that was not disclosed to US regulators. The news widened a scandal at parent VW which ...

Bank of America to halt dollar supplies to Angola LUANDA: Bank of America will stop supplying US dollars to Angola at the end of this month, two foreign exchange sources said on Thursday, a move that could pile pressure on the oil exporter's ailing kwanza currency. South Africa's Rand Merchant Bank (RMB) said on Thursday that a US bank had decided to discontinue providing it with dollars for onward supply to Angola which meant it would stop selling Angolan banks the greenback from Nov. ...

Peru's finance minister sees slower economic growth than expected LIMA: Peru's economy will grow more slowly than expected this year and in 2016, the country's finance minister said on Thursday, citing the impact of slumping metals prices on the key mining sector and a drop in investments. Finance Minister Alonso Segura told Congress on Thursday that economic growth could reach 2.8 percent in 2015 and be near 4.0 percent next year. That compares to prior government forecasts for growth of 3 percent this year ...

Italy shakes up management at state railway before sale ROME/MILAN: The entire board of Italy's state railways resigned on Thursday in a move that gives the government a free hand to appoint a new management team to drive forward its privatisation plans. The Treasury said it expected to appoint new directors soon. The widely expected shake-up comes three days after Rome announced plans to sell a 40 percent stake in the rail company and list it in Milan. According to the government's schedule, Ferrovie ...

Italian banks told to disclose capital ratios below SREP levels MILAN: Italian banks must inform the market immediately if at least one of their capital ratios is below the level required by the European Central Bank following the so-called Supervisory Review and Evaluation Process (SREP), the country's market watchdog said. The ECB, which is setting individual capital requirements for banks as part of the SREP process, will inform lenders in coming weeks of the final outcome of the review.Copyright Reuters, 2015


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln