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India holds firm on blocking global customs deal NEW DELHI: India on Friday said it wanted "visible" signs the World Trade Organization would agree to its vast food subsidy schemes before approving a landmark global customs pact as talks went down to the wire.Refusal by India to endorse the agreement streamlining customs procedures could derail the first big global trade reform by the WTO in two decades.The deal must be ratified by all WTO members by July 31 and is to be implemented in mid-2015.But Indian Commerce Minister Nirmala Sitharaman told parliament New Delhi "would find it difficult to join the consensus" unless it gets WTO assurances on freedom to roll out food security programmes for its hundreds of millions of poor.Sitharaman's statement came as WTO members were in Geneva for what was envisioned as rubber-stamp approval of the Trade Facilitation Agreement or TFA, reached in Bali last year.The agreement is aimed at lowering trade barriers and spurring ...


Militants kill at least 50 Syria troops in ambush: monitor BEIRUT: Militants from the Islamic State group killed at least 50 Syrian soldiers in an ambush on Friday, summarily executing most of them after their capture, a monitoring group said.The assault in Raqa province, the militants Euphrates valley stronghold, came amid their fiercest assault yet on Damascus-held territory.The deaths added to 74 already killed in the offensive across the north and northeast, the Syrian Observatory for Human Rights said."At least 50 soldiers were ambushed, some ...

Brazil announces $13bn credit stimulus BRASILIA: Brazil central bank said on Friday it would ease banks' reserve requirements, freeing up $13 billion to stimulate lending and boost an economy facing its fourth year of sluggish growth.The new measures, which also loosen the rules on lending to small businesses, come as leftist President Dilma Rousseff heads into October elections in which she is seeking a second four-year term."The central bank decided to adopt measures to improve the distribution of liquidity in ...

Nigeria confirms Liberian man died of Ebola in Lagos ABUJA: Nigeria said on Friday that Ebola caused the death of a Liberian national who died in quarantine in Lagos, confirmation that the worst-ever outbreak of the virus has reached Africa's most populous country.Nigeria's Health Minister Onyebuchi Chukwu told journalists that "thorough medical tests" had confirmed "the virus of Ebola" as the cause of death.The 40-year-old, who died overnight, worked for the Liberian government and had travelled to Nigeria from Monrovia by air via Togo's ...

Romania's budget deficit widens to 0.5pc/GDP in Jan-June BUCHAREST: Romania's consolidated budget deficit widened to 0.5 percent of gross domestic product at the end of June against a 0.2 percent shortfall in the first five months, finance ministry data showed on Friday. The European Union state, which has a 4 billion euros aid deal led by the International Monetary Fund, targets a fiscal gap of 2.2 percent of GDP for this year in cash terms. Copyright Reuters, 2014

Russia's GDP up 0.6pc y/y in June MOSCOW: Russian gross domestic product grew by 0.6 percent, year-on-year, in June, showing a slowdown from the 1.3 percent growth seen in May, the Economy Ministry said on Friday. In month-on-month terms, GDP contracted by 0.2 percent in June, the ministry said in a macroeconomic monitoring document. Copyright Reuters, 2014

India's water reservoirs at 35pc of capacity in past week NEW DELHI: Water levels in India's main reservoirs in the week to July 24 were at 35 percent of capacity, down 16 percentage points from a year ago, government data showed on Friday. On a week-on-week basis, the figure has improved from the previous week's level of 26 percent, as monsoon rains revived. The late revival also nudged up the latest level from the 10-year average of 34 percent for the week, easing concerns of ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln