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US home prices still trend lower in November WASHINGTON: US home prices rose in November from October but the underlying trend continued to point to a slowdown in price gains, according to the S&P/Case-Shiller index released Tuesday.But meanwhile new-home sales showed a pickup in December, underscoring a base strength in the industry helped by very low mortgage interest rates.The Case-Shiller 20-city price index rose 4.3 percent year-over-year in November, compared to 4.5 percent in October.Month-over-month, November home prices rose a seasonally adjusted 0.7 percent. The Case-Shiller US national index, a broad measure of price gains, edged down 0.1 percent."The housing recovery is barely on first base," said David Blitzer, head of the Index Committee at S&P Dow Jones Indices. "Prospects for a home run in 2015 aren't good."Most of the housing market recovery is lackluster, with strong price gains limited to California, Florida, the Pacific Northwest, Denver, and Dallas, he said."Moreover, these price patterns have been in place ...

Kammenos: from conservative rebel to Greek PM's unlikely ally ATHENS: Panos Kammenos, whose nationalist Independent Greeks party has entered into an unlikely coalition government with the radical left-wing Syriza, once walked the corridors of parliament wearing a T-shirt that read: "Greece is not for sale."At first glance, the bombastic 49-year-old leader of the ANEL party and Prime Minister Alexis Tsipras of Syriza may seem strange bedfellows, but both are vehemently anti-austerity and equally determined to renegotiate the country's international bailout.The burly politician's decision to ...

Fidel Castro breaks silence on US-Cuba rapprochement HAVANA: Cuban leader Fidel Castro has broken his silence on a historic rapprochement between Washington and Havana, implicitly endorsing it even as he expressed an abiding distrust of his old foe.The 88-year-old revolutionary icon had said nothing since last month's surprise agreement, raising questions not only about where he stood on mending relations with Washington, but also about his health and political status.But late Monday, Castro appeared to answer some of those questions with a ...

Fed looks set to stay course in policy meeting WASHINGTON: The Federal Reserve on Tuesday begins its first monetary policy meeting of the year to take the pulse of the US economy as it mulls an interest rate hike.The Federal Open Market Committee, the central bank's policy arm, is widely expected to signal no significant policy changes after it wraps up the meeting Wednesday.But the FOMC post-meeting statement will be pored over for clues to the central bank's thinking on the timing for the ...

European stocks fall on Greece fears PARIS: Europe's main stock markets slipped Tuesday on fears over the intentions of Greece's new anti-austerity government, with London's FTSE 100 edging down 0.6 percent to end the day at 6,811.61 points.Frankfurt's DAX 30 index sank 1.57 percent to 10,628.58 points, while in Paris the CAC 40 shed 1.09 percent to 4,624.21 points.Copyright AFP (Agence France-Presse), 2015

EU threatens new Russia sanctions over Ukraine violence BRUSSELS: European Union leaders on Tuesday threatened new sanctions against Russia over a bloody offensive by pro-Kremlin Ukrainian rebels, the latest bid to pressure a defiant President Vladimir Putin.The decision came a day after Standard and Poor's downgraded Russia's foreign currency rating to junk because of its eroding economic health, weakened by a wave of Western financial restrictions last year and the plunging price of its oil exports.The downgrade put still more pressure on Russia's ...


Index Closing Chg%
Arrow DJIA 17,678.70 0.03
Arrow Nasdaq 4,771.76 0.29
Arrow S&P 2,057.09 0.26
Arrow FTSE 6,852.40 0.29
Arrow DAX 10,798.33 1.40
Arrow CAC-40 4,675.13 0.74
Arrow Nikkei 17,468.52 0.25
Arrow H.Seng 24,909.90 0.24
Arrow Sensex 29,278.84 0.94

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln