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China home prices fall in November, threaten economic growth BEIJING: China's new home prices fell again in November and a business survey showed a deep drop in real estate investment plans, adding gloom to a slumping property market that has so far defied government efforts to revive it.Average home prices in 70 major Chinese cities fell by an annual 3.7 percent last month following a 2.6 percent fall in October, the biggest drop since 2011 and a threat to economic growth.Yu Liang, president of leading residential developer China Vanke Co said at the weekend that China now faced a housing glut that would take 13 months to clear.Researcher China Beige Book said on Thursday its survey of 2,000 companies showed an eye-watering 26 percentage point fall in intentions to invest in real estate in the fourth quarter.China's real estate market has been plagued by falling prices and high inventories in recent months, crimping demand in 40 economic sectors ranging ...

Modi moves in to speed up $300bn stuck projects NEW DELHI: Indian Prime Minister Narendra Modi has taken direct control of a project-monitoring body to fast-track investments worth almost $300 billion and revive manufacturing in the country, two officials with direct knowledge of the matter told Reuters.Pro-business Modi has faced criticism in recent weeks that his ambition to spur investment and re-energise the economy has yet to be realised, more than six months after he won elections with the strongest mandate in three decades.Industrial ...

Putin says central bank, government taking adequate measures MOSCOW: Russian President Vladimir Putin said on Thursday the central bank and government were taking adequate measures to support the rouble and that Russia's current economic situation was casued by external factors.He told his annual end-of-year news conference: "I believe that the central bank and the government are taking adequate measures." He added that there may have been questions over the timeliness and quality of the measures.Copyright Reuters, 2014

Rise in German business morale points to better fourth quarter BERLIN: German business morale rose in December for the second month running, a survey showed on Thursday, adding to signs that Europe's largest economy is on course to pick up in the fourth quarter after narrowly avoiding a recession in the third.Ifo's business climate index, based on a monthly survey of some 7,000 firms, increased to 105.5 in December from 104.7 the previous month. That was the highest reading since August and compared with the ...

Putin says government must take additional measures on economy MOSCOW: Russian President Vladimir Putin said on Thursday the government had to take additional measures to forge economic stability."There have been results but the government must take other measures," he told his annual end-of-the-year news conference, adding that the central bank was not the only body responsible for the economic situation.Copyright Reuters, 2014

Indonesia to cut budget deficit to 1pc of GDP in 2019 JAKARTA: Indonesia's new government plans to cut its budget deficit to one percent of gross domestic product by 2019, partly by reforming the tax system, the finance minister said on Thursday.A shortfall in tax revenue estimated at $6.15 billion threatened to push the 2014 budget deficit in Southeast Asia's largest economy to breach a legally binding limit of 3 percent of GDP.The new government of President Joko Widodo wants to curb the budget deficit, which ...

Putin reassures Russians rouble will rise again MOSCOW: President Vladimir Putin said on Thursday Russia's economy would rebound after the rouble's collapse against the dollar but warned that it could take two years for the country to emerge from crisis.Under pressure to show he has a plan to pull Russia out of crisis at his end-of-year news conference, Putin supported the actions of the central bank and government in a crisis he blamed on external factors but said further measures would be ...


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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 $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln