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China's Q1 GDP growth slows to 7.0pc on-year: govt BEIJING: China's economy expanded 7.0 percent year-on-year in the first quarter, official data showed Wednesday, slumping to a new post global financial crisis low even as authorities take steps to bolster growth in the world's second-largest economy.The figure announced by the National Bureau of Statistics was lower than expansion of 7.3 percent in the final three months of last year, but exceeded the median forecast of 6.9 percent in an AFP survey of 15 economists.The result remained the worst for a single quarter since the first three months of 2009, when GDP increased 6.6 percent in the depths of the global financial crisis.China's economy last year grew 7.4 percent, down from 7.7 percent in 2013, and its slowest annual expansion since 3.8 percent in 1990."Despite the slowing down of economic growth, employment, consumer price and market expectation remained stable," the NBS said in a statement.It said that "positive factors were ...

WTO rules against US dolphin-safe canned tuna labels WASHINGTON: The World Trade Organization found on Tuesday that US rules on dolphin-safe labels for canned tuna run counter to international trade laws, siding with Mexico in a long-running dispute and opening the door to retaliation against US exports. The ruling, which the United States said it would appeal, upholds Mexico's complaint that revamped US labeling rules are still discriminatory because they disqualify Mexican tuna from bearing dolphin-safe labels, unlike other countries' tuna."We recommend that ...

Brazil finmin says IMF called for rapid fiscal adjustment BRASILIA: Brazil's Finance Minister Joaquim Levy said on Tuesday following a meeting with representatives of the International Monetary Fund that the officials had stressed the need to carry out the country's full fiscal adjustment as soon as possible. The IMF lowered its 2015 forecast for Brazil's economic performance last week, but said the economy could return to growth in 2016 if its austerity drive succeeds. Copyright Reuters, 2015

Renzi hails Milan design fair as symbol of recovery, not just for ‘hipsters’ MILAN: Prime Minister Matteo Renzi kicked off a showpiece Milan trade fair promoting modern Italian design on Tuesday, hailing it as a symbol of potential economic recovery in a country battered and discouraged by years of recession. "We are not just talking about stuff for hipsters here, we are talking about a piece of the Italian economy today and even more importantly tomorrow," Renzi said on the first day of Milan's week-long international design fair. ...

Somali Shebab kill 15 in education ministry attack MOGADISHU: Somalia's Al-Qaeda-linked Shebab militants on Tuesday blasted their way into the higher education ministry with a car bomb before storming the building, killing 15 people.Police and witnesses said the car bomb caused a huge explosion which allowed the gunmen to force their way into the fortified building.Ambulance officials said at least 15 people were killed and 20 wounded in the attack.Six Shebab gunmen were also killed, with two of those blowing themselves up, internal ...

IMF: Global economy steady but risks abound WASHINGTON: The International Monetary Fund said Tuesday that the global economy remains tepid, with slowdowns in emerging markets offsetting progress in the Japanese and European economies.While the plunge in oil prices has mostly been positive for world output growth, currency and capital market volatility, geopolitical crises and inadequate investment and reform for the future could hold the global economy back, the IMF warned.In its semi-annual World Economic Outlook, the crisis lender projected the global economy ...

EU slams Kosovo justice mission's handling of corruption charges BRUSSELS: The EU published a report Tuesday saying its justice mission in Kosovo poorly handled allegations of corruption by opening a belated internal probe that only fuelled suspicions of a cover-up.The report was made by Frenchman Jean Paul Jacque who spent several months examining how the EU Rule of Law Mission (EULEX) managed allegations that some top EULEX officials accepted bribes to drop high-profile cases against local criminals.The controversy was given widespread coverage in the ...


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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
WeeklyApril 16, 2015
Reserves $16.818 bln