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Mexico cuts 2015 growth forecast after weak 1Q MEXICO CITY: Mexico's government sharply lowered its growth forecast for this year on Thursday after the economy grew by a meager 0.4 percent in the first quarter, hit by slumping oil prices.The finance ministry said it expected Latin America's second biggest economy to expand by between 2.2 and 3.2 percent in 2015, compared to a previous forecast of 3.2 to 4.2 percent.The announcement came shortly after the national statistics institute posted the disappointing first quarter growth figure of 0.4 percent compared to the previous three months.On an annual comparison, the economy grew by 2.5 percent between January and March compared to the same period last year.The central bank cut had already Mexico's growth forecast on Tuesday, citing a drop in oil production and low external demand due to weak growth in the neighboring United States.The bank said it now expects the economy to grow in a range between 2.0 and ...

US jobless claims rise WASHINGTON: New claims for US unemployment insurance benefits rose more than expected last week but overall kept at a 15-year low, Labor Department data released Thursday showed.Initial jobless claims, an indicator of the pace of layoffs, rose by 10,000 to 274,000 in the week ending May 16.Analysts on average had penciled in a smaller increase to 270,000.The department said there were no special factors affecting the week's initial claims data.The four-week moving average, which helps ...
Irish unemployment falls below 10pc for first time since 2009 DUBLIN: Ireland's unemployment rate dropped below 10 percent for the first time in more than six years at the end of March, a milestone that will boost the government as it gears up for an election due in 2016.The number of people out of work fell to 9.9 percent, the central statistics office said on Thursday, well below the euro zone average of 11.3 percent.Employment has been growing strongly since the jobless rate peaked at ...
Brunei LNG export plant sells two spot cargoes in tender MILAN: Brunei's liquefied natural gas (LNG) export plant has sold two cargoes following a recent tender, with Japanese utility Kyushu Electric taking receipt of one cargo, traders said.The identity of the winner of the second cargo was not immediately clear.Brunei launched a sell tender in early May but at the time it was believed to be for only one cargo. Copyright Reuters, 2015 ...
US mortgage applications fall in latest week: MBA NEW YORK: Applications for US home mortgages fell last week as interest rates rose to their highest level since December 2014, an industry group said on Wednesday.The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, fell 1.5 percent in the week ended May 15.The MBA's seasonally adjusted index of refinancing applications rose 0.3 percent, while the gauge of loan requests for home purchases, ...
US housing construction surges to 7-year high in April WASHINGTON: US new home construction jumped to its strongest pace in more than seven years in April, leaving behind the winter slowdown, the Commerce Department reported Tuesday.Housing starts rose 20.2 percent from March to an annual rate of 1,135,000 units, the best level since November 2007.Single-family housing construction, nearly two-thirds of the market, was up 16.7 percent, while construction of buildings with five units or more gained 31.9 percent from March.Further reinforcing the picture of ...
Greece in final stretch of troubled loan talks ATHENS: Greece on Monday entered the final stretch of tortuous talks with its international creditors on a bankruptcy-saving loan deal, with the government calling for a breakthrough by the end of the month."A deal is required immediately, this is why we are talking about the end of May, to resolve these critical liquidity issues," government spokesman Gabriel Sakellaridis told reporters.Greece's new radical Syriza-led government and its EU-IMF creditors have been stuck in a deadlock for ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln