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French central bank sees Q2 growth of 0.2pc PARIS: The French economy is set to grow 0.2 percent in the second quarter, the country's central bank said on Monday in a first estimate as the euro zone's second-biggest economy struggles to gain momentum. The Bank of France has previously estimated that the economy also grew 0.2 percent in the first three months of the year. The INSEE national statistics agency is due to report on growth for the period on Thursday.The central bank gave its estimate in its monthly business climate survey for April which showed that morale in the industrial sector slipped to 98 from 99 in March, pulling back from the index's long-term average of 100. In the services sector, the indicator was unchanged from March at 94. Business leaders polled in both sectors said their cash positions had improved despite cutting prices for clients and that they expected activity to improve this month. Copyright Reuters, ...

Polish central banker sees rate hike possible in Q2 of 2015 WARSAW: Poland may raise its interest rates in the second quarter of 2015, central bank Monetary Policy Council member Andrzej Kazmierczak was quoted as saying by Bloomberg. "I'm certain rates won't change this year and I'm inclined to think the possibility of any increase in the first quarter is small," Kazmierczak said in an interview in Warsaw on May 9."I see a rate increase in the second quarter of 2015 as possible," he also said. ...
Barclays sees generational shift, rivals smell blood LONDON: Where Barclays sees a "generational shift", its investment bank rivals are smelling blood. The British bank, which under former chief Bob Diamond poached top staff and customers from competitors in trouble after the financial crisis, now risks suffering the same fate as it radically shrinks its investment banking business. Diamond's successor as Chief Executive, Antony Jenkins, says he does not expect a further exodus of top talent after departures from Barclays' US operation, but ...
UniCredit's Polish arm Pekao Q1 net profit below expectations WARSAW: Bank Pekao, the Polish arm of Italy's UniCredit, reported on Monday a 5 percent fall in net profit in the first quarter as an economic upturn failed to fully offset the negative impact of record-low interest rates. Pekao, Poland's No. 2 lender, said it earned 634 million zlotys ($208.6 million) compared with 665 million zlotys predicted by analysts polled by Reuters. Copyright Reuters, 2014 ...
Indonesians less optimistic on economy JAKARTA: Indonesian consumers were less optimistic in April due to slowing domestic consumption in Southeast Asia's largest economy, a Bank Indonesia survey showed on Monday. The consumer confidence index fell to 113.9 from the previous reading of 118.2. A reading above 100 indicates that consumers in general are optimistic. The index declined due to perceptions of fewer jobs, a slowdown in purchases of durable goods and easing incomes. Consumers expect price pressures to increase in ...
China's central bank tames unruly internet finance HONG KONG: China's central bank is trying to tame online finance. The country's internet industry has aggressively moved into digital credit cards and online funds.Now the authorities are fighting back with a series of proposed curbs.But by attempting to impose order, regulators may be endorsing rather than killing online finance. E-commerce group Alibaba and social media company Tencent have mounted an increasingly potent challenge to China's tightly-controlled banks.The core offering is payments.China's online third-party payments ...
Italian bank UBI to give larger investors greater say MILAN: Shareholders in UBI Banca have approved governance changes that boost the influence of institutional investors, as Italian co-operative banks seek to reform following recommendations from the Bank of Italy.Italy's banking regulator has long urged co-operative lenders, whose shareholders have one vote each regardless of the size of their stake, to reform and become more attractive for potential investors.At a shareholder meeting on Saturday UBI sealed a governance reform that strengthens board representation for investors ...


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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