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Canada trade deficit widens to second largest ever OTTAWA: Canada's trade deficit widened to Can$2.5 billion ($2.0 billion) in January -- its second largest ever -- as exports fell due to plunging crude oil prices, the government statistics agency said Friday. The figure was more than double December's trade deficit and the largest since a record Can$2.9 billion deficit in July 2012, said Statistics Canada.Exports declined 2.8 percent to Can$42.6 billion, while imports were largely unchanged from December.Exports of crude bitumen fell 23 percent. Exports of metals and non-metal mineral products were also down, while passenger car and truck shipments abroad increased.Imports of communications and audio and video equipment soared and imports of industrial machinery and equipment hit a record high. But these gains were offset by a drop in oil imports.Exports to the United States -- Canada's neighbor and largest trading partner -- fell 3.1 percent in the month. Imports from the United States were also down.The ...

Spiraling prices drive up Brazil inflation: official BRASILIA: Inflationary pressures rose in Brazil on February with price increases hitting an annual rate of 7.7 percent, the highest in nearly nine years, officials said Friday.South America's largest economy is also struggling with sluggish growth and a corruption scandal at state oil giant Petrobras so the uptick on the inflation front was unwelcome news.The national statistical institute IBGE said prices rose 1.22 percent in February, pushing inflation well above the government's target ceiling of ...

Dutch court says 'luxury' cell prisoners must move THE HAGUE: A Dutch court ruled Friday that long-term prisoners who currently enjoy countryside views and cook their own food must vacate their "luxury" cells to make way for Norwegian convicts.The Dutch prisoners, all serving 10 years to life, have sued the government after plans surfaced of a multi-million euro deal with Oslo to transfer 242 Norwegian prisoners to the Netherlands."The long-term prisoners have to move out," The Hague's district court said in a statement ...

Indonesia's Pertamina plans $2bn annual investment for Mahakam block JAKARTA: Indonesia's Pertamina would invest around $2 billion annually into the Mahakam gas block if given control, and target output of 1.2 billion to 1.5 billion cubic feet of gas per day (bcfd), a senior official at the state-owned energy firm said.The government plans to hand Pertamina control of the block once the contract of current operator, Total SA, expires in 2017.Pertamina submitted its investment plan for the block to the government a week ago, ...

Helicopter crash kills two men in Japan TOKYO: A helicopter crash killed two men in western Japan Friday after hitting a power line, according to media and authorities.An "AS 332L" helicopter was travelling from a hydropower plant in Mie prefecture to a regional heliport for refuelling, but crashed in a mountainous area on the way, a police spokesman said.The chopper touched a power line and crashed around 10:50 am (0150 GMT), according to an official at the transport ministry.Local media said the ...

EU presidency puts forward 2019 date for carbon market reform BRUSSELS: Latvia, holder of the EU presidency, has put forward a compromise date of 2019 to launch a repository to hold surplus carbon permits from the EU Emissions Trading System (ETS) and boost their price, according to a document seen by Reuters.The ETS is the bloc's flagship policy to cut greenhouse gas emissions by charging for the right to emit carbon dioxide.However, weak economic growth has cut industrial production and energy demand, creating a glut ...

Hungary PM urges banks to lend more to boost growth BUDAPEST: Hungarian Prime Minister Viktor Orban on Friday urged banks to lend more to the private sector to boost economic growth as a central bank programme to finance companies could not be sustained indefinitely."In order to keep economic growth above 3 percent in Hungary, which is our objective, we would need 7 to 8 percent private sector credit growth per year," Orban told a business forum.He said banks should lend more as their tax levels ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln