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South Korea central bank chief says was too optimistic on economic outlook SEOUL: South Korea's central bank governor said he was too optimistic about the economic outlook in April, when he said the general direction of interest rates would be up should the economy stay to its growth path."You can signal a move 23 months prior (to the actual action), but if something unexpected happens in even a month's time that could change policy," said Bank of Korea Governor Lee Ju-yeol to reporters on the sidelines of a forum in Seoul on Wednesday. Copyright Reuters, 2014 ...

Nigerian govt revenues fall to 784.9bn naira LAGOS: Nigerian government revenues fell 7 percent month-on-month to 784.9 billion naira in June from 844 billion naira in May due to oil outages, Accountant General Jonah Otunla said on Tuesday."Ongoing repair and maintenance work at various terminal and the force majeure declared at Forcados between March and May, 2014 were responsible for the slight decline in mineral revenue," Otunla said.Africa's biggest oil producer relies on its energy business for 80 percent of government revenues.Otunla ...
Audi to launch third shift at Hungary car plant next month BUDAPEST: German carmaker Audi will launch a third shift at its car plant in Hungary from mid-August to meet rising demand for its premium models, the company said on Tuesday.Audi's plant in the western Hungarian town of Gyor, 120 kms (75 miles) from Budapest, where it manufactures the TT Coupe and Roadster sports cars as well as the A3 Limousine and Cabriolet, has an annual capacity of 160,000 vehicles."We are preparing for serial production of ...
BOJ says inflation to stay above 1pc despite cut in GDP forecast TOKYO: The Bank of Japan's governor voiced confidence on Tuesday that inflation would hold above 1 percent even when a boost from energy costs fades, attempting to convince sceptics the economy was recovering and there was no threat of a return to deflation.Haruhiko Kuroda, once Japan's top currency diplomat, also sought to keep the yen in check, warning that sharp gains were unwarranted with the BOJ maintaining its massive stimulus while its US counterpart started ...
Egypt's central bank seen keeping key interest rates on hold CAIRO: Egypt's central bank is expected to leave interest rates unchanged on Thursday as it balances its efforts to keep inflation in check with the need to stimulate the economy after more than three years of stagnation, a Reuters poll showed.Annual inflation reached its highest in nearly four years in November, at 13 percent, but has been edging down since then. It remained steady at 8.2 percent in June but is expected to rise after ...
Juncker calls for 300bn-euro investment plan for Europe STRASBOURG: Jean-Claude Juncker called for a 300-billion-euro investment plan for Europe as he laid out his vision for the future if elected Tuesday by parliament as the head of the EU executive."We need a programme to enhance growth and competitiveness," said the former Luxembourg premier as he called for a massive three-year investment programme to revitalise and re-industrialise the European Union.Copyright AFP (Agence France-Presse), 2014 ...
China bank lending up in June: central bank SHANGHAI: China's bank lending picked up in June from May, the central bank said Tuesday, as authorities accelerated infrastructure investment to boost the flagging economy, but analysts warned of a possible debt bubble.Domestic banks granted 1.08 trillion yuan ($174 billion) in new loans for June, up from 870.8 billion yuan a month earlier, the People's Bank of China (PBoC) said in a statement.The June figure beat an average forecast of 980 billion yuan, according to ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln