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German inflation bounces back in February: data FRANKFURT: Inflation in Germany, Europe's biggest economy, was back in positive territory in February with consumer prices rising by 0.1 percent, official data showed on Friday.The previous month, the consumer price index had fallen for the first time in five years, dropping by 0.4 percent as a result of lower energy prices. According to the Harmonised Index of Consumer Prices (HICP) -- the yardstick used by the European Central Bank -- inflation in Germany remained in negative territory, slipping by 0.1 percent year-on-year in February, way under the ECB's annual inflation target of just below 2.0 percent.In January, HICP had fallen by 0.5 percent. The February data are still only preliminary, since they are based on consumer price statistics from only six out of Germany's 16 regional states.Final data, based on all 16, will be published on March 12, the German federal statistis office Destatis said.The data will offer some ...


India in 'sweet spot', economy forecast to top 8pc growth NEW DELHI: India's economy is in a "sweet spot" and ready to grow by more than eight percent in the next financial year, an official report said Friday on the eve of the new right-wing government's first full-year budget.The India Economic Survey, an annual report prepared by the finance ministry, said growth would be between 8.1 and 8.5 percent in the 2015-16 financial year, reaching levels last seen five years earlier.The ministry said the data ...

China to raise retail price of gasoline and diesel BEIJING: China will raise retail prices for gasoline by 390 yuan ($62) per tonne and for diesel by 375 yuan ($60) per tonne from Saturday as oil prices moved off lows plumbed last month, the country's powerful economic planning agency said on Friday.The hike is the second consecutive price increase by the National Development and Reform Commission (NDRC), which can adjust fuel price ceilings on a bi-weekly basis.The pricing system, adopted in March 2013, ensures ...

Turkey police arrest man after bomb threat outside US consulate ISTANBUL: Turkish police on Friday arrested a man who threatened to set off a bomb outside the US consulate in Istanbul, local media reported.The suspect was not carrying any explosives, according to initial reports, the private Dogan news agency said.Police cordoned off the street outside the consulate after the detention of the suspect, who was described as "mentally instable," reports said.Istanbul remains on high security alert after a female suicide bomber blew herself up in ...

Greek economy contracts more than first thought: official data ATHENS: Greece's troubled economy contracted by 0.4 percent in the fourth quarter of 2014 instead of the 0.2-percent figure given earlier this month, the state statistics agency said on Friday."Available seasonally adjusted data indicate that in the fourth quarter of 2014 the gross domestic product in volume terms decreased by 0.4 percent compared with the third quarter of 2014 against the decrease of 0.2 percent that was calculated for the flash estimate," the agency said.The ...

Zimbabwe's Mugabe says wife not running the show HARARE: Zimbabwe's 91-year-old President Robert Mugabe has declared he is still in charge, dismissing speculation that his increasingly powerful wife Grace is now running the show.In an interview with the state broadcaster Zimbabwe Broadcasting Corporation (ZBC) late Thursday, Mugabe said his wife's surprise rise to power in the ruling party did not mean she was now in charge of the party or state affairs.Grace Mugabe last year became the leader of the influential women's wing ...

Ukrainian pilot could 'die within days' in Russian jail MOSCOW: A Ukrainian airforce pilot, who has been on hunger strike in a Russian prison for 77 days, "could die within days," a member of the Kremlin's human rights council said Friday.Nadia Savchenko, a 33-year-old helicopter navigator, who has been charged with involvement in the deaths of two Russian reporters in a mortar attack in east Ukraine, has been held in a Moscow jail for nearly nine months.Savchenko denies the charges and says she was ...


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
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