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Slump in August imports shows soft Canadian economy  OTTAWA: Canada's imports in August dropped by a surprising 3.1 percent from July, suggesting the Canadian economy is struggling to cope with weak international markets and slowing domestic demand.   The fall in imports reported by Statistics Canada on Thursday overshadowed a bigger drop than expected in the trade deficit, to C$1.32 billion ($1.35 billion) in August from a record C$2.53 billion in July. Exports slipped by 0.1 percent.   The trade deficit, the fifth in a row, was smaller than the C$1.90 billion shortfall predicted by market analysts.   The value of imports fell to C$38.79 billion on widespread declines in every sector except energy, while volumes were down 2.2 percent. It was the largest month-on-month fall in imports since the 4.4 percent drop recorded in May 2009.   "That's the big story here. The drop in imports was broadly based and could signal weakness in the domestic economy both in terms of soft consumption and weak ...

Peru growth seen at 6.5pc in August on domestic demand  LIMA: Peru's economy is seen having expanded 6.5 percent in August from the same month a year ago as demand for construction drives robust growth despite wavering mineral exports, economists surveyed by Reuters said on Thursday.   The forecasts from nine local and foreign economists ranged from 6.3 percent to 6.9 percent, and is slower then the 7.7 percent growth in August 2011.   Growing domestic demand continues to fuel the construction, retail and service sectors, even as the ...

Latest US jobs report shows progress : Fed AVONDALE: The September US employment report was "mostly good news" that shows some progress, though the labor market still has a long way to go, Charles Plosser, president of the Philadelphia Federal Reserve Bank, said on Thursday.   The jobless rate fell sharply to 7.8 percent last month, from 8.1 percent in August, as the economy added 114,000 new non-farm jobs. The jobless rate had been above 8 percent for three-and-a-half years.   Copyright Reuters, 2012

I WASHINGTON: Goldman Sachs chief executive, Lloyd Blankfein, became the latest big-name business leader to pledge to pay steeper tax - 5 percent, he said - in exchange for a long-term bipartisan deal in Congress to keep the country from falling off the "fiscal cliff."   Blankfein is part of a group of corporate executives who have raised nearly $30 million to support a deal to avoid the so-called cliff - about $600 billion in tax hikes and ...

French food trade rebounds near 1bn euro in August  PARIS: France's food trade surplus reached nearly 1 billion euro ($1.3 billion) in August, up more than 25 percent year-on-year, mainly boosted by wine and spirit and grain exports, the farm ministry said on Thursday.   France's raw and processed food trade surplus, one of the few positive contributors to the country's balance, was at 967 million euros ($1.25 billion) in August, against a surplus of 842 million euros in July, down 2.5 percent year-on-year.   On Tuesday data ...

France, Germany urge Brussels to protect industry: paper  PARIS: France, Germany and five other European Union countries urged the bloc's executive arm on Thursday to protect struggling manufacturing industry from unfair competition on the global stage, the French daily Les Echos reported.   Industry ministers from seven countries - France, Germany, Italy, Spain, Portugal, Luxembourg and Romania - sent a letter to the European Commission calling for a change in policy, the paper said.   "Brussels is preventing us from coming up to par in the unfair ...

South Africa JOHANNESBURG: South Africa's rand edged up against the dollar on Thursday on tentative hopes of a resolution to the strikes that have wreaked havoc particularly in the key mining sector in the past two months.   But no firm agreements have emerged from the wage talks yet, which may keep the local currency vulnerable for another retreat towards the 9.00 level after a heavy sell-off took it to a 3-1/2 low of 8.995/dollar on Monday.   By 1601 GMT ...


Index Closing Chg%
Arrow DJIA 17,098.45 0.11
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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln