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Sterling firmer vs euro as GDP data highlights diverging fortunes LONDON: Sterling rose against the euro on Friday after data showed Britain's economy is finally bigger than its pre-crisis size, highlighting the increasingly divergent economic and policy outlooks for the UK and the fragile euro zone.Gross domestic product (GDP) expanded by 0.8 percent in the April-June period, the same strong pace as in the first three months of the year and in line with forecasts in a Reuters poll of economists. The data came a day after the International Monetary Fund (IMF) cited Britain as a bright spot while it cut its forecast for total global economic growth in 2014. Earlier on Friday data showed German business sentiment falling for the third consecutive month, with the Ifo think-tank citing geopolitical tensions as affecting the business climate. Germany has strong trade links with Russia and so could be affected by tougher sanctions on it. That followed healthier German data on Thursday ...

Sterling edges up vs euro as GDP data highlights divergent outlooks LONDON: Sterling edged up against the euro on Friday after data showed Britain's economy is finally bigger than its pre-crisis size, highlighting the increasingly divergent economic and policy outlooks for the UK and the fragile euro zone. Gross domestic product (GDP) expanded by 0.8 percent in the April-June period, the same strong pace as in the first three months of the year and in line with forecasts in a Reuters poll of economists.The data came ...
Euro battling losses after poor German data LONDON: The euro struggled to hold above eight-month lows against the dollar on Friday, hurt by a dive in Germany's Ifo survey of business sentiment as the US currency headed for its strongest week since March. The Ifo numbers, the most watched forward-looking indicator of growth in the euro zone's largest member economy, fell for the third month running, with both of its main indexes declining much more than forecast.The euro fell to as low ...
Euro inches up from 8-month low on upbeat business surveys LONDON: The euro climbed from an eight-month low on Thursday after German and French business activity beat expectations, although fears that possible tougher sanctions on Russia would hurt the euro zone were seen limiting gains.The French composite purchasing managers index of both the manufacturing and services sector rose to 49.4 from 48.1 in June, bringing activity closer to the 50-point line dividing growth from contraction.German business activity also expanded in July as the services sector ...
Sterling hits four-week low vs dollar after weak UK retail data LONDON: Sterling fell to a four-week low against the dollar on Thursday after data showed British retail sales were weaker than expected in June, another sign that the UK's economic recovery may be losing momentum.Retail sales rose 0.1 percent in June from May, less than the 0.3 percent expected by economists. Though overall retail volumes in the second quarter were the strongest for 10 years, currency traders interpreted the numbers as soft, pushing down the ...
Euro hit by concerns over tougher Russia sanctions, diverging rate outlook LONDON: The euro hit an eight-month low against the dollar on Wednesday as worries over tougher sanctions on Russia and their potential impact on fragile euro zone growth drove investors away from the single currency.The euro also fell against sterling, which was supported ahead of the latest minutes from the Bank of England's Monetary Policy Committee, due at 0830 GMT. Markets will be looking for any signs of when an interest rate hike might come, ...
Sterling falls, BoE minutes fail to boost rate hike expectations LONDON: Sterling fell from near two-year highs against the euro on Wednesday while gilt futures rose after minutes from this month's Bank of England policy meeting proved less hawkish than some in the market had anticipated.The minutes showed that BoE officials discussed whether there was a case for an early interest rate rise, but there were concerns about hurting the recovery. The nine members of the Monetary Policy Committee voted unanimously to keep interest rates ...

 



 
Index Closing Chg%
Arrow DJIA 17,039.49 0.36
Arrow Nasdaq 4,532.11 0.12
Arrow S&P 1,992.37 0.29
Arrow FTSE 6,777.66 0.33
Arrow DAX 9,401.53 0.93
Arrow CAC-40 4,292.93 1.23
Arrow Nikkei 15,586.20 0.85
Arrow H.Seng 24,994.10 0.66
Arrow Sensex 26,360.11 0.17





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln