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Tropical Depression Hanna soaks Nicaragua, Honduras MANAGUA: Tropical Depression Hanna on Monday lashed northeastern Nicaragua and eastern Honduras, unleashing heavy rains that US forecasters warned could cause deadly flash-flooding. Though slightly weaker and downgraded from tropical storm status, Hanna still could drench much of Honduras and northern Nicaragua with up to 15 inches (38 centimeters) of rain, according to the Miami-based National Hurricane Center."These rainfall amounts will produce life-threatening flash floods and mudslides," the NHC cautioned at 0001 GMT Tuesday.Hanna, with top winds of 55 kilometers (35 miles) per hour, was forecast to move quickly inland and bring downpours to the region. While heavy rains might sound like good news for parts of Honduras that have been experiencing drought, the dry conditions actually make the terrain in mountainous Central America more prone to mudslides.And elsewhere in Honduras and in Nicaragua, the rainy season has saturated the soil, causing rivers and streams to overflow easily and triggering ...


US services sector growth slows, pending home sales miss forecast WASHINGTON: US services sector activity dipped to a six-month low in October, pointing to some moderation in economic growth early in the fourth quarter.Another report on Monday showed contracts to buy previously owned homes rebounded less than expected in September, an indication that the housing recovery remains gradual.Financial data firm Markit said its preliminary or "flash" services sector Purchasing Managers Index slipped to 57.3 last month, the lowest reading since April, from 58.9 in September. ...

France to trim 2015 budget deficit further PARIS: The French government plans to cut its budget deficit by an additional 3.6-3.7 billion euros ($4.6-4.7 billion) next year, Finance Minister Michel Sapin said on Monday, adding that this should allow Paris to respect EU-deficit rules.Sapin updated the government's 2015 budget plans in a letter to the European Commission, a copy of which Reuters obtained. The Commission has until Wednesday to decide whether to reject France's 2015 draft budget for overshooting EU-agreed deficit limits.The ...

Taliban storm Afghan court, kill seven: officials KUNDUZ: Taliban militants stormed a court in northern Afghanistan on Monday and killed at least seven people including prosecutors, officials said.Four attackers wearing army uniforms attacked a provincial appeals court in the city of Kunduz, triggering a four-hour gunbattle with Afghan security forces, provincial police spokesman Sayed Sarwar Hussaini told AFP."They first blew up an explosives-laden car at the gate of the court and then entered the building," he said."The attackers killed six court officials ...

Italy promises EU new measures to reduce deficit MILAN: Italy said Monday it was pledging "additional measures" to reduce its structural budget deficit by 0.3 percent of GDP in 2015, after it was warned by the European Commission it risked breaching EU fiscal rules.Economy Minister Pier Carlo Padoan sent a letter to Commission vice president Jyrki Katainen after Italy postponed balancing its budget in structural terms from 2015 to 2017.The treasury said it would speed up efforts to reduce Italy's mammoth deficit and ...

OECD sees Portugal growth at 0.8pc this year, 1.3pc in 2015 LISBON: Portugal's economy should grow 0.8 percent this year, slightly below the government's forecast of 1 percent growth, and expand at a faster pace in the following two years, the Organisation for Economic Cooperation and Development said on Monday.In its economic survey of Portugal, which exited an international bailout in May, the OECD expects the economy to expand 1.3 percent in 2015 and 1.5 percent in 2016. This year will be the first full year ...

Indonesian president orders new cabinet to get to work JAKARTA: Indonesian President Joko Widodo held his first cabinet meeting on Monday and gave his top four ministers until the end of the week to identify policy changes that would remove growth bottlenecks."From the first day, we start working," Widodo said in introductory remarks to the cabinet that were televised live. "There is no need to wait for anything anymore."Widodo, who was elected president in July, was inaugurated last week. He inducted 34 people into ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
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MonthlyJuly-June
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WeeklyOctober 27, 2014
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