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Argentina says July tax income rises 36.3pc on year BUENOS AIRES: Argentina's tax revenue jumped 36.3 percent in July from the same month a year earlier to 145.999 billion pesos ($15.887 billion), the government said on Monday. This was above the median forecast of 141.912 billion pesos in a Reuters poll of analysts. Official data shows signs of an economic recovery in Argentina, Latin America's third biggest economy, helped by increased government spending ahead of October's presidential election. Even so, private economists estimate Argentina's inflation is running at between 25 and 30 percent, which would mean the increase in tax revenue is partly explainable by consumer price increases. Copyright Reuters, 2015

UN airlifts DR Congo refugees out of C. Africa GENEVA: The UN said Monday it had begun repatriating more than 600 people who had fled to the now violence-torn Central African Republic from the Democratic Republic of Congo six years ago.The United Nations' refugee agency said it had airlifted a first group of 39 Congolese refugees from Zemio in southeastern CAR to the remote, eastern DR Congo province of Ango on Monday."Over the next three weeks, UNHCR plans to repatriate a total of 628 ...

US consumer spending edges higher in June WASHINGTON: US consumer spending edged higher in June, capping a rebound in the second quarter from weak growth in the first months of the year, the Commerce Department reported Monday.Consumer spending, which accounts for about 70 percent of US economic activity, rose 0.2 percent in June after a 0.7 percent gain in May and a 0.3 percent increase in April, the department said.For the April-June quarter, spending increased at an annual rate of 2.9 percent, ...

US manufacturing slows a tick in July WASHINGTON: US manufacturing activity slowed slightly in July amid weaker export orders and a continued drag from falling oil prices, the Institute for Supply Management reported Monday.The ISM purchasing managers index on the manufacturing sector fell to 52.7 in July from 53.5 in June. A reading above 50 indicates expansion. Analysts on average had expected the PMI would rise to 53.7.The July level was the lowest since April and remained well below the 12-month average ...

India factory output climbs to six-month high MUMBAI: India's factory output climbed to a six-month high in July on strong demand, a survey showed Monday, easing pressure on the central bank to cut rates when it meets this week.Japanese media group Nikkei said its purchasing managers index (PMI), formerly carried out by banking giant HSBC, increased to 52.7 points in July from 51.3 a month before.A reading of more than 50 points suggests industrial expansion while anything below indicates contraction, according to ...

Brazil's only Olympic worry? Getting enough medals BRASÍLIA: Brazil's sports minister, George Hilton, says he has only one real concern a year before Rio hosts the 2016 Olympics: the medal haul.In an interview in the capital Brasilia, Hilton told AFP that the focus is on Brazil getting an unprecedented slot in the top 10 rankings for Olympic medals.Rio's preparations for the Summer Games, the first to be held in South America, are going flawlessly thanks to the experience the country gained in ...

Canada set for election amid concern over economy and security OTTAWA: Canadian Prime Minister Stephen Harper on Sunday called general elections for October 19, kicking off a campaign for a fourth straight term in power amid a sluggish economy.Harper, in power since 2006, dissolved parliament after meeting with Governor General David Johnston, the representative of Queen Elizabeth II, Canada's nominal head of state in this Commonwealth country.Voters will be choosing all 338 members of the House of Commons, 30 more than in the last election ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln