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French PM sticks to reform plan ahead of crunch confidence vote PARIS: French Prime Minister Manuel Valls pledged Tuesday to stick to the disputed economic reform plan that he has championed, ahead of a crunch parliamentary vote of confidence."Nothing must let us deviate from our commitment to save 50 billion euros ($65 billion) within three years," he told parliament, referring to the Socialist government's Responsibility Pact that aims to kickstart growth in the country with huge spending cuts.Copyright AFP (Agence France-Presse), 2014 ...

French PM Valls mollifies rebels before confidence vote PARIS: Allies of French Prime Minister Manuel Valls tipped him to survive a confidence vote in parliament on Tuesday after the centre-left leader pursued a two-day charm offensive to cajole rebel backbenchers into the government camp.But the wider question remained over whether Valls, whose poll ratings have crumbled since he took on the job of President Francois Hollande's premier in April, will retain the authority needed to revamp the euro zone's second largest economy and ...
Italy's Renzi pushing labour reform, but scepticism growing ROME: Prime Minister Matteo Renzi said on Tuesday he would force through changes to Italy's labour laws with special emergency measures if parliament dragged its feet, and rejected criticism his government was moving too slowly with its reform agenda.Renzi, under growing pressure to back his promises with action, said that reforms to an unjust labour system that divided Italian workers into "first division" and "second division" categories would be at the heart of the programme.He ...
EU nations auction 1.873mn spot EUAs at 5.81 eur/t LONDON: EU nations sold 1.873 million spot EU carbon permits on EEX at 5.81 euros per tonne on Tuesday, the exchange said. The benchmark EU carbon futures contract was trading down 7 cents 5.86 euros a tonne just before the auction closed at 0900 GMT. Copyright Reuters, 2014 ...
Britain hopes Iran will cooperate in fight against IS in Iraq PARIS: British Foreign Secretary Philip Hammond on Monday urged Iran to cooperate with an international coalition to fight jihadists in Iraq even if Tehran did not join the group.Hammond made the call in Paris after a major conference on Iraq as Iran refused to join an anti-jihadist coalition."It was always unlikely that Iran would become a fully fledged member of the coalition but I think we should continue to hope that Iran will align itself ...
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 ...
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, ...


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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 18, 2014
Reserves $13.525 bln