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Brazil inflation seen above target in 2015 SAO PAULO: Brazil's consumer inflation is seen exceeding an official target in 2015 even as the economy is expected to grow less than previously forecast, a weekly central bank survey showed on Monday.The poll underscores an increasingly challenging economic environment for President Dilma Rousseff, who begins her second term on Jan. 1 with a stagnant economy, stubborn inflation, and a widespread loss of confidence in emerging markets.Inflation for 2015 was seen at 6.54 percent, according to the median forecasts in a survey of about 100 financial institutions. Brazil targets inflation of 4.5 percent with a tolerance margin of 2 percentage points in either direction.Brazil's economy, on the other hand, was forecast to grow 0.55 percent in 2015, down from the 0.69 percent estimated in the previous week.The country's benchmark Selic interest rate was seen ending next year at 12.50 percent, compared to its current level of 11.75 percent.Brazil's currency is ...

Italy Nov non-EU trade surplus widens y/y on export rise ROME: Italy posted a trade surplus of 2.715 billion euros with countries outside the European Union in November, compared with a surplus of 2.343 billion euros in the same month last year, national statistics agency ISTAT said on Monday.Exports rose 2.6 percent year-on-year in November, while imports edged up 0.1 percent, ISTAT said.In the first 11 months of the year, Italy registered a non-EU trade surplus of 22.795 billion euros. Net of energy products, it ...

Taiwan Nov export orders slow but on track for a record in 2014 TAIPEI: Taiwan's export orders grew slower than expected in November, amid global uncertainties, and the island's economics ministry slightly trimmed its forecast for this year's total, which still should set a record.Export orders in November rose 6 percent from a year earlier, below the 8.8 percent forecast in the Reuters poll as well as the ministry's expectations for around a 10 percent gain. Still orders for information communication goods, the main driver for Taiwan's exports, ...

Mugabe fires more cabinet ministers HARARE: Zimbabwean President Robert Mugabe has fired two cabinet ministers and five deputy ministers, the presidency announced late Sunday, in an apparent purge targeting allies of his former deputy Joice Mujuru.The move came after months of political upheaval in Zimbabwe over the succession to 90-year-old Mugabe when he dies or steps down.Mugabe, who is currently holidaying in Asia, dismissed Flora Buka, minister of state for presidential affairs and Sylvester Nguni, minister of state in the ...

German real wages post biggest rise in more than 3 years in Q3 BERLIN: German real wages increased by 1.8 percent in the third quarter compared with the same period in 2013, their biggest rise in more than three years and a potential support for private consumption on which the government is banking to boost growth.Data from the Federal Statistics Office on Monday showed that a full-time worker in Germany earned an average of 3,541 euros per month before tax, excluding special payments, in the July-September period. Employees ...

Hong Kong tycoon and former senior official face jail for graft HONG KONG: Lawyers for Hong Kong property tycoon Thomas Kwok and the government's former deputy leader Rafael Hui pressed for leniency Monday as their clients faced seven years in prison after being convicted of corruption.Kwok, 63, and Hui, 66, were found guilty Friday in a trial which has shocked the city known for clean governance.Hui is the most senior official to be convicted of graft in Hong Kong's history, while Thomas Kwok was joint chairman ...

Families of 43 missing Mexicans promise protests over holidays SAN CRISTõBAL DE LAS CASAS: Family members of 43 missing Mexican students said Sunday they would continue pressing for answers over the fate of their sons throughout the holidays."There is no vacation, no Christmas or New Years, these days are for struggling," said Meliton Ortega, father of one of the students.The families plan a protest in Mexico City on December 26, three months after the students disappeared in September, a group organiser told AFP.The government ...


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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 $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln