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Brazil government slashes 2014 budget surplus goal BRASILIA: Sharp depletion of Brazil's fiscal accounts has prompted the government to slash its key budget surplus goal to a fraction of its original target, according to a planning ministry report released on Friday.In the report, the government says it plans to deduct 106 billion reais in investments from its original primary surplus goal of 116 billion reais ($46.12 billion) or the equivalent of 2.15 percent of GDP. That leaves a surplus of only 10 billion reais for the year or about 0.19 percent of gross domestic product.Brazil's original 2014 budget law allowed the government to deduct up to 67 billion reais from the goal.The primary surplus, or excess of revenue over expenditure before debt payments, is closely watched by markets and serves as a gauge of the country's capacity to repay its loans.A sharp deterioration of Brazil's finances under Rousseff has put the once-booming economy in the sights of ...

Plague outbreak kills 40 in Madagascar: WHO GENEVA: An outbreak of plague has killed 40 people in Madagascar, the World Health Organization said, warning that the disease could spread rapidly in the country's densely populated capital Antananarivo.The first victim was identified on August 31 in a district to the west of the capital, and died three days later, the UN health agency said in a statement Friday.By mid-November, some 119 plague cases had been confirmed, with two percent of them of the ...

Quake of magnitude 6.3 strikes China's Sichuan province: USGS SINGAPORE: An earthquake of magnitude 6.3 hit China's southwestern province of Sichuan on Saturday, the US Geological Survey said.The quake struck 103 km (64 miles) west of the city of Leshan around 0855 GMT, at a depth of about 10 km (6 miles). There were no immediate reports of casualties or damage.Copyright Reuters, 2014

four soldiers, civilian killed in eastern Ukraine: officials KIEV: Four Ukrainian soldiers have been killed and 10 others wounded in unrest in the east during the past 24 hours, security officials in Kiev said Saturday.One civilian, a 60-year-old man, was also killed in the eastern region of Lugansk on Friday, the governor's office announced.Ukrainian forces are locked in a struggle with pro-Moscow separatists for territory in eastern Ukraine.A ceasefire has been in place since early September but this has not stopped almost 1,000 ...

Gunmen execute 28 on Kenya bus near Somalia border GARISSA: Gunmen seized a bus in northeastern Kenya near the Somali border early Saturday and executed 28 passengers, police said, blaming the attack on Shebab extremists."I can confirm .... that 28 innocent travellers were brutally executed by the Shebab," said regional police chief Noah Mwavinda, referring to the Somali militant group. He said the gunmen forced the bus to stop and drove it to the side of the road, where they proceeded to kill passengers.Copyright ...

Mexico ex-police official arrested in student abductions MEXICO CITY: A former police chief in Cocula, the Mexican town where witnesses say 43 missing students were massacred, was arrested for allegedly participating in handing the young men over to a criminal gang, prosecutors said Friday.Cesar Nava Gonzalez was arrested on November 16, the statement said, calling the former official a "member of the Guerreros Unidos criminal organization."The teacher college students' disappearance and presumed slaughter has infuriated Mexicans fed up with corruption, impunity and ...

Indonesia's new president causes a buzz by flying economy JAKARTA: Indonesia's new President Joko Widodo caused a stir this weekend by opting to fly economy class to watch his son's high school graduation in Singapore, drawing both praise and criticism online.Skipping the usual heavy security protocol for heads of state, Widodo and his wife Iriana queued for check-in at Jakarta airport like ordinary passengers before taking their economy seats.Widodo is known for his common touch, and his family have maintained a modest lifestyle since ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln