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Swedish retail sales bounce back in Aug, beat forecast STOCKHOLM: Swedish retail sales grew at a faster pace than expected in August, easing pressure on the Nordic country's the central bank to cut rates which are already at a record low due to stubbornly low inflation.Retail sales rose 1.9 percent in August from July and increased 4.6 percent from a year earlier, outpacing expectations for a monthly increase of 0.6 percent and an annual rise of 3.4 percent.The monthly rise was the biggest since May last year and showed a healthy rebound from weak figures in July. The data also showed a relatively robust domestic market that has the potential to offset an export sector still dragged down by a struggling euro zone, Sweden's main trading partner.In the same month, Sweden posted a rare trade deficit as imports came in strong while exports remained a subdued, data showed last week."Swedish households are well off and we have continuing strong ...

UK mortgage approvals fall slightly more than expected in August LONDON: British mortgage approvals fell slightly more than expected in August, adding to signs that the housing market has cooled markedly over the past few months, according to official data on Monday.The Bank of England said mortgage approvals numbered 64,212 last month, the weakest reading since May, and down from 66,100 in July.Analysts had forecast a modest fall in approvals to 65,000.Monthly mortgage approvals are still short of the 90,000 level seen before the 2008 ...

UK's Osborne launches Conservative election pitch with pension tax cut BIRMINGHAM: British finance minister George Osborne will promise on Monday to scrap a tax on inherited pension savings as he lays out the Conservative Party's economic pitch for next year's election.Speaking to media before his speech, Osborne also sought to tackle the electoral threat posed by the UK Independence Party (UKIP) whose stance on immigration and Europe could draw votes from the Conservatives and benefit Labour at the election. Two Conservative MPs have defected to ...

Portugal business confidence stable in September LISBON: Portugal's economic climate indicator was flat in September, remaining at its highest level since mid-2008 as the economy recovers further from a deep recession.The economic climate indicator, which measures business confidence, stood at plus 0.7 in September, unchanged from August, the National Statistics Institute (INE) said on Monday. It has been rising since January 2013.INE said its consumer confidence indicator rose to a negative reading of 24.6 in September, from minus 25.5 in August.The ...

Thai Sept main inflation rate seen steady at 2pc BANGKOK: Thailand's annual headline inflation rate in September was probably steady at 2.0 percent, with the core rate also little changed at 1.84 percent, a Reuters poll showed.In August, annual headline inflation was 2.09 percent and the core rate - which strips out fresh food and energy prices - was 1.83 percent.The central bank aims to keep core inflation between 0.5-3.0 percent and sets policy to achieve that.Inflation in Thailand has been relatively benign, curbed ...

Euro zone sentiment worsens in Sept, inflation expectations fall BRUSSELS: Euro zone economic sentiment deteriorated in September to levels last seen in late 2013 and inflation expectations among households and producers alike continued to fall.The European Commission said on Monday that economic sentiment in the 18 countries sharing the euro fell to 99.9 this month from 100.6 in August. Economists polled by Reuters had expected a decline to 100.0.The index was weighed down by less optimistic consumers, retailers and industry. The only sectors where ...

Russia needs to work hard to meet tight budget: Finance Minister MOSCOW: Russia's newly approved budget rests on optimistic GDP forecasts as well as high oil prices, forcing the government to work hard to meet its projected growth rates, Finance Minister Anton Siluanov said.The 2015-2017 budget, Russia's tightest since the global financial crisis and its first since the Ukraine crisis erupted, was approved last week. It forecasts gross domestic product growth of 1.2 percent next year, and 2.3 percent and 3 percent in the following years."There ...


Index Closing Chg%
Arrow DJIA 16,804.71 1.40
Arrow Nasdaq 4,422.09 1.59
Arrow S&P 1,946.16 1.32
Arrow FTSE 6,557.52 0.98
Arrow DAX 9,382.03 0.97
Arrow CAC-40 4,365.27 1.15
Arrow Nikkei 16,082.25 0.56
Arrow H.Seng 22,932.98 1.28
Arrow Sensex 26,567.99 0.23

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln