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Greece's rating could be cut if troika talks stall: Fitch LONDON: Greece's credit rating could be cut if talks with its international creditors do not make progress by the time of Fitch's next review in May, one of the firm's senior ratings directors said on Thursday.The new Greek government has signalled it will stand by its anti-austerity pledges, setting it on a collision course with European partners reluctant to renegotiate the aid package Athens needs to help pay its huge debts.Fitch is the last of the big three ratings agencies, after Standard and Poor's and Moody's, to send a warning to Greece's new anti-bailout coalition."If by our next review on the 15th of May there is no progress on these talks or they look to be failing, of course that would be a trigger for a downgrade," Douglas Renwick, the firm's head of western European sovereigns, said during a conference call."Alternatively, if a deal is reached with more financing and ...

US jobless claims plunge 14pc WASHINGTON: New claims for US unemployment insurance benefits plunged to the lowest level in nearly 15 years last week, the Labor Department reported Thursday.Initial jobless claims, a sign of the pace of layoffs, dropped to a seasonally adjusted 265,000 in the week ending January 24, a hefty decline of 43,000 from the prior week's slightly upwardly revised level of 308,000.It was the lowest level for initial claims since mid-April 2000. The decline in claims was ...

Renzi backs judge to be next Italy president ROME: Italian Prime Minister Matteo Renzi on Thursday backed a Constitutional Court judge whose brother was slain by the mafia to be Italy's next president.Sergio Mattarella, 73, will be backed by Renzi's ruling Democratic Party (PD) in a parliamentary selection procedure expected to produce a new head of state by Saturday, the premier said ahead of a first round of voting.Renzi's declaration of support was unanimously approved by PD lawmakers in a show of hands.That ...

German inflation tips into negative territory: data BERLIN: Inflation in Germany, Europe's biggest economy, dipped into negative territory in January for the first time in five years, largely due to lower energy prices, data showed Thursday.German inflation was -0.3 percent this month compared to January 2014, the federal statistics office, Destatis, said releasing in its provisional figure, which sank slightly more than analysts polled by Factset had forecast.In December it had slowed to 0.2 percent, its lowest level in more than five ...

Suicide attack on Afghanistan funeral kills at least 8: officials KABUL: At least eight people were killed Thursday when a suicide bomber detonated himself at a funeral for the victims of a roadside bomb attack in eastern Afghanistan, provincial officials said.A local official, who spoke on condition of anonymity, said at least eight people were left dead in the attack in Mehtarlam, in the eastern Laghman province. Laghman governor spokesman Sarhadi Zwak placed the death toll at 16, with another 39 wounded.No one has claimed ...

Double suicide attack on Iraq militia base kills six BAGHDAD: A double suicide attack on a base housing Shiite groups fighting alongside the government north of Baghdad killed at least six people on Thursday, medical sources said."The car rammed an army checkpoint protecting access to the base" in Mishahada, a Baghdad hospital official said. The first blast killed at least three people, including a civilian.Around five minutes later, a suicide bomber wearing an explosives belt blew himself up at the nearby entrance of the ...

Philippine economy regains momentum, but policy seen on hold MANILA: The Philippines rounded out 2014 as the fastest-growing economy in Asia after China, regaining momentum in the final quarter of the year on strong farm output and construction activity.The surprising performance, which put Asia's fifth-largest economy on course to return to growth of around 7 percent this year amid cooling inflation, cements expectations the central bank will leave policy rates on hold for some time."Our economy has moved into a long-term growth path; 7 ...


Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln