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Turkey growth slackens to 2.9pc in 2014 ANKARA: Turkey's economic growth weakened last year to 2.9 percent, well down on 2013 and creating worries for the Islamic-rooted government ahead of June legislative elections, official data showed on Tuesday.Gross domestic product increased by 2.9 percent in 2014 from the year earlier, well behind the government's official target of 3.3 percent, the Turkish Statistics Institute (TUIK) said on its website.The economy grew by 2.6 percent year-on-year in the fourth quarter of 2014, according to TUIK, compared to 1.7 percent in the third quarter, 2.2 percent in the second quarter and 4.8 percent in the first quarter.The government is eyeing a growth spurt ahead of the June 7 legislative elections, with President Recep Tayyip Erdogan pressuring the nominally independent central bank for aggressive rate cuts.The economic performance of Turkey -- which has lagged recently after posting stellar growth rates in the first half decade of Erdogan's domination -- is under ...

Argentina unions launch transport strike over tax burden BUENOS AIRES: Transport unions in Argentina launched a 24-hour strike at midnight Monday over a tax regime they say hurts the lowest earners. It is the fourth major stoppage against President Cristina Kirchner, who took power in 2007 and completes her second term at the end of this year. The protest threatened to paralyze bus services, subways, trains, taxis, fuel service stations, airline flights and ports. Because of the strike the airlines LAN of Chile ...

German retail sales slip in February FRANKFURT: German retail sales, a closely watched measure of household confidence, fell slightly in February, official data showed on Tuesday.Retailers' sales declined by 0.5 percent in February compared with January, the federal statistics office Destatis said in a statement.The previous month, retail sales had increased by 2.3 percent. On a 12-month basis, however, business improved strongly, jumping by 3.6 percent in February compared with the same month last year, the statisticians calculated.Retail sales data are ...

China's Jan-Feb services trade deficit $29.4bn BEIJING: China posted a deficit of around $29.4 billion on trade in services in the first two months of 2015, data from the foreign exchange regulator showed on Tuesday.The deficit was led by a $29 billion gap in tourism as Chinese spent more overseas than foreigners visiting the country, according to data from the State Administration of Foreign Exchange (SAFE).No comparative figures were given. China posted a $119.6 billion surplus on trade in goods in ...

Peru sacks PM over alleged domestic spying LIMA: Peru's Congress sacked the prime minister, Ana Jara, on Monday night over alleged spying against lawmakers, reporters, business leaders and everyday citizens.Supreme executive power in Peru is held by the president, in this case Ollanta Humala. It is the biggest crisis in his four years in power.This is the first time the congress of Peru has deposed a prime minister since 1968. With a year left of his term, Humala must now name a ...

South Korea industrial output up 2.6pc in Feb SEOUL: South Korea's industrial output rose 2.6 percent in February from a month earlier, boosted by demand over the Lunar New Year holiday, government data showed Tuesday.Production in the automobile and semiconductor sectors led the growth figure, which followed a steep decline of 3.7 percent in January's industrial output.Year-on-year, last month's output showed a fall of 4.7 percent.South Korea's central bank announced a surprise 25 basis point interest rate cut earlier this month, in an ...

Russia, Iran, Syria share same vision: Assad WASHINGTON: Syrian President Bashar al-Assad says he shares the same goals as Iran and Russia when it comes to the brutal war tearing apart his country.Assad, speaking on PBS television in excerpts of an interview airing on Monday, insisted that close allies Russia and Iran "want to have balance in the world.""It's not only about Syria. I'm (a) small country. It's not about having a huge interest in Syria. They could have it anywhere else," ...


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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 $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 20, 2015
Reserves $16.132 bln