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US housing starts fall, but trend points to recovery WASHINGTON: US housing starts and permits fell in November, but remained at levels consistent with a gradually improving housing market.Groundbreaking declined 1.6 percent to a seasonally adjusted annual pace of 1.028 million units, the Commerce Department said on Tuesday. October's starts were revised up to a pace of 1.045 million units.Economists polled by Reuters had forecast starts rising to a rate of 1.04 million units from October's previously reported pace of 1.01 million units.Yields for U.S. Treasuries held at lower levels, while the dollar was little changed against a basket of currencies. U.S. stock futures were pointing to a lower open also as crude oil prices continued to drift lower.Housing continues to be stymied by tepid wage growth, which has been far outpaced by home price increases. Higher mortgage rates are also a constraint, although they have declined from a peak reached in September 2013.The housing recovery also is being ...

US factory activity growth at 11-month low in December NEW YORK: The US manufacturing sector continued to expand in December but its growth rate hit an 11-month low, an industry report showed on Tuesday.Financial data firm Markit said its preliminary or "flash" U.S. Manufacturing Purchasing Managers Index fell to 53.7 in December, matching the 2014 January low when severe weather impacted economic activity.Economists polled by Reuters had expected the December reading at 55.2, which compares to November's 54.8 final reading.A reading above 50 signals ...

Obama likely to sign two bills that could impact arms sales WASHINGTON: US President Barack Obama is expected to sign in coming weeks two bills passed by Congress despite concerns raised by U.S. officials that they could add time and cost to the already complex process for approving foreign arms sales.One bill would allow leaders of the U.S. House of Representatives and Senate foreign affairs committees to request 30-day notification of certain arms shipments to specific countries, if concerns arose after the sales were approved.The other ...

Kerry says Russia has made 'constructive moves' on Ukraine in recent days LONDON: US Secretary of State John Kerry said on Tuesday that Russia had made constructive moves towards possibly reducing tensions in Ukraine."Let me say that Russia has made constructive moves in the last days," Kerry told reporters in London."There are some indications that whether it is line of control negotiations, or calm that is in place in a number of places, the withdrawal of certain people ... there are signs of constructive choices. That can ...

US housing starts fall in November WASHINGTON: New construction of US homes fell in November, but that was offset by a sharp upward revision of the prior month's starts, according to official data released Tuesday.Private housing starts fell 1.6 percent from October to an annual rate of 1.028 million, the Commerce Department reported.October housing starts were revised up to a pace of 1.045 million from the previous estimate of 1.009 million.Building permits, a leading indicator of future construction activity, fell 5.2 ...

Euro zone private sector ends 2014 with weak growth, more price cuts: PMI LONDON: Euro zone businesses are ending 2014 in slightly better shape than thought but growth remains weak and firms are still cutting prices to encourage trade, surveys showed on Tuesday.Markit's Composite Flash Purchasing Managers' Index, based on surveys of thousands of companies and seen as a good growth indicator, rose to 51.7 from a 16-month low of 51.1.That beat the forecast in a Reuters poll for a rise to 51.5 but was the second-lowest reading ...

Euro zone trade surplus rises more than expected in October BRUSSELS: The euro zone's unadjusted trade surplus rose more than expected in October, data showed on Tuesday, thanks to a strong rise in exports and flat imports.The European Union's statistics office said the unadjusted trade surplus in October was 24 billion euros, up from 16.5 billion a year earlier and 18.1 billion the month before.Economists polled by Reuters had expected 19.6 billion.The surplus was a result of a 4 percent unadjusted year-on-year rise in exports ...


Index Closing Chg%
Arrow DJIA 17,068.87 0.65
Arrow Nasdaq 4,547.84 1.24
Arrow S&P 1,972.74 0.85
Arrow FTSE 6,331.83 2.41
Arrow DAX 9,563.89 2.46
Arrow CAC-40 4,093.20 2.19
Arrow Nikkei 16,755.32 2.01
Arrow H.Seng 22,670.50 1.55
Arrow Sensex 26,781.44 1.97

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln