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China must accelerate reforms, not rely on fiscal and monetary policy to drive growth: World Bank BEIJING: China needs to accelerate reforms and not rely solely on monetary and fiscal policy to drive growth, a top World Bank official said on Tuesday. "I would recommend not really relying more on their macro policy, specifically on the monetary and fiscal side, because it's been done before, especially post the global financial crisis," Managing Director Sri Mulyani Indrawati told Reuters in an interview in Beijing. "It is now time for really deepening and doing the reforms in a much faster way." Indrawati made the comments when asked whether China was reforming fast enough, given that the country posted its weakest economic growth rate in the third quarter since the 2008/09 global financial crisis. China should be able to maintain high growth by turning to domestic economic drivers, Indrawati said. The bank is forecasting 6 percent growth in the medium-to-long term, she said, although the country must swap external ...

Hong Kong stocks down 0.25pc by lunch HONG KONG: Hong Kong stocks ended the morning session 0.25 percent lower Tuesday as early gains were erased by data showing China's economy grew in the third quarter at its slowest pace since the global financial crisis.The benchmark Hang Seng Index eased 57.95 points to 23,012.31 by the break on turnover of HK$27.44 billion ($3.54 billion).Copyright AFP (Agence France-Presse), 2014

Tokyo stocks down 0.72pc by break TOKYO: Tokyo stocks fell 0.72 percent Tuesday morning as investors locked in profits after the previous day's near four-percent rise, while the yen picked up against the dollar and weak China growth data hit sentiment.The Nikkei 225 index at the Tokyo Stock Exchange eased 109.26 points to 15,001.97 by the break, while the Topix index of all first-section issues fell 0.50 percent, or 6.11 points, to 1,218.23.Shares surged Monday by their biggest margin for 16 ...

Ebola fear factor subsides in US financial markets NEW YORK: Investors should expect more calm to return to US equity markets after some of the most volatile trading since 2012 as the 21-day incubation period for Ebola passes for many in Texas without new infections. The market's big losses last week were largely attributed to concerns over global growth and plummeting oil prices.But fears that Ebola could spread in the United States after three people in Dallas were diagnosed with the hemorrhagic fever ...

Apple's iPhone sales beat Street but iPad volumes slide SAN FRANCISCO: Apple Inc forecast a strong holiday quarter after a better-than-expected 16 percent jump in iPhone sales, and the strongest growth in Mac computer shipments in years helped the company surpass Wall Street's targets. The company on Monday projected stronger-than-expected revenue of $63.5 billion to $66.5 billion in the December quarter, when new iPads and iPhones vie with rival devices from Microsoft Corp and Inc for consumers' holiday outlays. Shares of Apple rose ...

Hong Kong leader says poor would dominate free vote HONG KONG: Hong Kong's leader has said open elections would result in the city's many poor dominating politics, as his government headed into talks with activists who have staged three weeks of rallies.In an interview with foreign media, carried in the Wall Street Journal and International New York Times just hours before the talks were due Tuesday, embattled chief executive Leung Chun-ying reiterated his position that free elections were impossible.Leung said that if candidates were ...


Index Closing Chg%
Arrow DJIA 16,461.32 0.92
Arrow Nasdaq 4,382.85 0.83
Arrow S&P 1,927.11 0.73
Arrow FTSE 6,399.73 0.43
Arrow DAX 8,940.14 0.60
Arrow CAC-40 4,105.09 0.58
Arrow Nikkei 15,195.77 2.64
Arrow H.Seng 23,403.97 1.37
Arrow Sensex 26,787.23 0.80

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln