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Lufthansa pilots to strike Tuesday BERLIN: Pilots at Germany's biggest airline Lufthansa said they would go on strike Tuesday -- for the fourth time in three weeks -- over changes to early retirement rules, a union said.The eight-hour walkout will go from 9 am to 5 pm (0700 to 1500 GMT) and target long-haul flights as well as all flights leaving from Frankfurt, the airline's biggest hub, the pilots' union Cockpit said in a statement Monday."As Lufthansa management has not put forward an offer that is suitable for a compromise, we see ourselves forced to take further action," Cockpit said."We regret any inconvenience to Lufthansa customers."However Lufthansa said it had launched contingency plans so that all 40 of its scheduled long-distance flights can take off, albeit with some scheduling changes.The airline has been hit by several rounds of industrial action over its plans to change the early retirement policy.A strike last Wednesday grounded 110 flights ...

Israel lowers 2014 growth estimate to 2.4pc from 2.9pc JERUSALEM: Israel has cut its forecasts for 2014 and 2015 economic growth due to the impacts of the 50-day Gaza war with Palestinian militant group Hamas and a weaker global environment, a finance ministry source said on Monday.The ministry now expects the economy to expand 2.4 percent this year, down from a previous estimate of 2.9 percent, and by 2.8 percent in 2015, down from 3 percent, the source said.Growth in the third quarter of ...

Merkel won't shift further right despite Eurosceptics' gains BERLIN: German Chancellor Angela Merkel on Monday ruled out realigning her conservatives further to the right in order to fend off a growing challenge from Eurosceptics, who surpassed expectations is state elections at the weekend.Alternative for Germany (AfD) won more than 10 percent of the vote in Brandenburg and Thuringia, two east German states."Looking at results in the federal election or opinion polls I don't see that we are in an unsuccessful phase," Merkel said, ...

Autos weigh on US factory output; outlook still upbeat WASHINGTON: US manufacturing output fell for the first time in seven months in August, but the underlying trend remained consistent with steadily rising factory activity.That was confirmed by other data on Monday showing factory activity in New York state jumped to its highest level in nearly five years in September."The weakness in factory output in August is likely to be transitory. We continue to expect underlying U.S. economic growth momentum to continue shifting higher this ...

PM Cameron to appeal to keep Britain intact on last Scotland visit before vote ABERDEEN/LONDON: British Prime Minister David Cameron is expected to appeal to Scots' emotions on his last visit to Scotland before this week's historic referendum by warning them on Monday that a vote to leave the United Kingdom would be irreversible.With opinion polls suggesting the referendum remains too close to call, Cameron, the leader of the ruling Conservative party, which draws most of its support from England, will plead with voters not to use the referendum ...

Canadian home sales surge in August, to peak in Q3 TORONTO: Sales of existing homes in Canada rose in August from July, hitting the highest level since January 2010, the Canadian Real Estate Association (CREA) said on Monday, but it predicted sales will peak in the third quarter and decline in 2015.The industry group for Canadian real estate agents said sales were up 1.8 percent last month from July. Actual sales for August, not seasonally adjusted, were up 2.1 percent from August 2013.CREA's home price ...

India considers closing some loss-making state firms NEW DELHI: Indian government officials will meet on Tuesday to discuss proposals to shut down some loss-making state-owned companies, risking a conflict with powerful trade unions.After two decades of halting privatisations, the central government still owns about 260 firms and thousands more at the state level, involved in activities ranging from generating nuclear power to making condoms.Some of them, including Oil and Natural Gas Corporation and Steel Authority of India are successful, but there are ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln