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India August inflation surges to 6-month high of 6.1pc NEW DELHI: India's inflation surged to a six-month high in August, data showed Monday, strengthening chances the new central bank governor will freeze interest rates despite a struggling economy.Inflation, as measured by the Wholesale Price Index, hit 6.10 percent in August from a year earlier and was up from 5.79 percent in July."Rising wholesale price inflation will take rate cuts off the agenda until well into next year," said Capital Economics economist Daniel Martin.The data comes as former International Monetary Fund chief economist Raghuram Rajan, famed for forecasting the 2008 global financial meltdown, prepares to chair his first monetary policy-setting meeting on Friday.India's once-booming economy is caught in a quagmire of sharply slowing growth, stubbornly high inflation and a record current account deficit that has pushed the rupee sharply lower.Rajan has already declared he sees his main role as sustaining "low and stable expectations of inflation" and analysts said he ...

Spain to raise forecasts for growth, jobs: minister MADRID: Spain will soon raise its forecasts for economic growth and employment as it emerges from a two-year recession, the country's economy minister said on Monday. "On September 27 we are going to improve the unemployment forecast for the current year and we will cautiously improve the growth and unemployment forecasts for the year 2014," Economy Minister Luis de Guindos told a gathering of foreign reporters in Madrid. The government's latest forecasts tip a 1.3-percent ...

West to increase backing for Syrian rebels PARIS: Britain, France and the United States on Monday agreed to increase their backing for rebels fighting Syrian President Bashar al-Assad.The three powers also agreed at talks in Paris that Assad would face "serious consequences" if he fails to comply with a UN resolution setting out a timetable for the handover of Syria's chemical weapons to international control.Copyright AFP (Agence France-Presse), 2013

India inflation hits six-month high of 6.10pc in August NEW DELHI: India's inflation rose unexpectedly in August to a six-month-high, data showed Monday, adding to challenges confronting the new central bank chief, who is already grappling with a slowing economy and a weak currency.The higher-than-expected inflation is the last piece of domestic data before Reserve Bank of India governor Raghuram Rajan, a former IMF chief economist, chairs his first monetary policy-setting meeting on Friday.The annual rate of inflation -- based on the widely watched ...

South Korea military shoots man trying to float across river to North SEOUL: South Korea's military shot and killed a man who undertook a rare attempt to enter North Korea on Monday by floating across a river that runs near the heavily militarised border, an official in Seoul said.It was not clear whether the man was a South Korean, the official said on condition of anonymity. The military was still trying to recover the body and investigating the incident, he said.South Korea's Yonhap news agency said South ...

Sweden to cut income taxes as govt eyes 2014 election STOCKHOLM: Sweden's centre-right coalition government said on Monday it would cut income taxes for a fifth time since 2006, aiming to boost a sluggish economy and overtake the opposition ahead of an election in 2014.The package of tax cuts will total 15 billion Swedish crowns ($2.28 billion), comprising 12 billion in lower income taxes and 3 billion related to a raising of the threshold for incomes subject to central government as well as municipal taxation.Sweden's ...

Bulgaria Jan-July current aacount at 0.9pc/GDP surplus SOFIA: Tourist receipts and a rise of the EU funds transfers pushed Bulgaria's current account to a surplus of 0.9 percent of gross domestic product in the first seven months of the year from a gap of 1.6 percent in the same period of 2012, data showed on Monday.The surplus from January to July stood at 372.8 million euros ($494.31 million)compared to a deficit of 645.9 million euros in the same period a year earlier, ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
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Average CPI 8.6%
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WeeklyNovember 30, 2015
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