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China's Sept fiscal spending quickens, land revenues fall BEIJING: Growth in China's fiscal spending in September quickened to 9.1 percent from a year earlier, data showed on Tuesday, as the authorities try to smooth volatile public spending and keep the economy on an even keel.But underscoring the cooldown in the world's second-biggest economy and its housing market, revenues that Chinese governments earned from selling land slumped 21.1 percent in September on a yearly basis.Selling land to developers is a major source of income for China's regional governments, but this revenue stream has suffered this year as the country's falling home prices crimped demand for land among developers.China's economy slowed in the third quarter to a level not seen since the global financial crisis, data showed earlier on Tuesday, increasing the chance it may miss its official growth target for the first time in 15 years this year.The Finance Ministry said government spending in September climbed 9.1 percent from ...


IMF urges caution in Africa's Eurobond borrowing spree DAR ES SALAAM: The International Monetary Fund (IMF) has warned African countries against rushing to issue Eurobonds, saying they may face exchange rate risks and problems repaying debts.African governments facing falling levels of foreign aid are on a borrowing spree to pay for new roads, power stations and other infrastructure, prompting concern from many analysts that this could raise debt levels and undermine growth."It comes with some risks," the director of the IMF's African Department, ...

Death toll in Poland mine blast rises to five WARSAW: The death toll from a methane explosion at a Polish coal mine rose to five after two gravely burned miners succumbed to their injuries overnight, the hospital treating them said on Tuesday.One worker had died in the accident on October 6 at the Myslowice-Wesola mine in southern Poland and 28 were hospitalised with severe burns.Two miners later died at the burns unit of the hospital in Siemianowice Slaskie. Some 20 miners continue to be ...

Putin calls killed Total CEO 'true friend' of Russia MOSCOW: Russian President Vladimir Putin on Tuesday praised Total CEO Christophe de Margerie, who died in a plane accident at a Moscow airport, as a "true friend of our country."In a telegram sent to French President Francois Hollande, published by the Kremlin, Putin said he was "shocked by the news" after De Margerie's jet crashed into a snow plough at Moscow's Vnukovo airport, killing all on board.Putin asked Hollande to "pass on the most sincere ...

India's Modi moves to reform problem-plagued coal industry NEW DELHI: India's government has pledged to open up the coal mining industry to private players in the energy-starved country as Prime Minister Narendra Modi unleashes promised reforms to revive the ailing economy.Modi's right-wing government approved an ordinance late Monday allowing auctions of coal mines to private companies for their own use, as well as permitting some firms to sell the fuel in the future.The ordinance -- or executive order -- takes the first steps ...

Indonesian president ponders some cabinet picks on anti-graft concern JAKARTA: New Indonesian President Joko Widodo said on Tuesday he was re-evaluating some of his choices for cabinet jobs after an anti-graft agency raised concern about possible problems with some candidates. Widodo, who won a closely fought July election on promises of clean government, will want to avoid the same type of corruption scandals that tainted his predecessor's final term in office. Three of former President Susilo Bambang Yudhoyono's ministers were implicated in corruption cases. ...

China says its economic growth still reasonable BEIJING: China's economic slowdown in the third quarter was due to structural reforms in the nation, a sagging housing market and higher comparison figures from a year ago, the statistics agency said, but noted that growth stayed in a "reasonable range". Sheng Laiyun, spokesman of the National Bureau of Statistics, also said consumption contributed to 48.5 percent of China's economic growth in the first nine months of the year, eclipsing investment which accounted for only ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln