Wednesday, 22 May 2013 13:07
Posted by Shoaib-ur-Rehman Siddiqui
ATHENS: Greece's current account deficit narrowed 43 percent in March, helped by falling imports due to the country's recession, the Bank of Greece said on Wednesday.The current account balance, a key measure of economic competitiveness, showed a deficit of 1.285 billion euros ($1.65 billion) from 2.237 billion euros in the same month last year.Falling imports due to the country's deep economic contraction and cost-competitiveness gains are narrowing the gap, which is expected to shrink to ...
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ZURICH: Chinese Premier Li Keqiang sees a looming free-trade deal with Switzerland as a touchstone for Beijing's growing ties with foreign nations, he told a Swiss newspaper on Thursday ahead of a landmark visit to Europe.Li was scheduled to arrive in Switzerland late on Thursday for trade-focused talks in what is the first stop on his debut visit to Europe since taking over in a once-in-a-decade power transfer in Beijing.In an opinion piece published in the Zurich daily Neue Zuercher Zeitung, Li wrote that the upcoming deal and his trip itself were "symbolic of China's openness to the outside world".Li, who took charge as premier in March, is on his maiden foreign tour and arrives in Switzerland fresh from talks with neighbours India and Pakistan, before heading to top European trade partner Germany at the weekend.Economic issues are set to be sharply in focus in his meeting with the Swiss ...
TORONTO: The Bank of Canada's next interest rate hike won't come until the fourth quarter of 2014, according to a Reuters survey that saw economists push back forecasts for the next tightening due to the economy's tepid growth and low inflation.All 34 economists polled by Reuters expect the central bank to leave its benchmark rate unchanged at 1 percent on May 29, when it announces its next scheduled rate decision."The bank certainly has sent a ...
JOHANNESBURG: The South African Reserve Bank held interest rates unchanged Thursday in the face of high inflation, while warning of major risks to already mediocre growth.Reserve Bank governor Gill Marcus said the main interest rate would stay at five percent, despite the bank cutting its growth forecasts for the year."There are a number of critical domestic issues that are contributing the vulnerability of the economy that need to be urgently addressed," Marcus said.Africa's largest economy ...
MADRID: Borrowing costs for Spain crept higher Thursday as the recession-hit country made big inroads into financing state spending for 2013.The Spanish treasury raised 4.076 billion euros in a sale of bonds expiring in three, five and 13 years.But demand for the bonds eased off and the Treasury had to offer a slightly higher return to lure buyers when compared to the last similar auction on May 9.Spain, with the eurozone's fourth-largest economy, was forced ...
SINGAPORE: Singapore's trade-sensitive economy slowed in the first quarter on sluggish demand for its exports, the government said Thursday, warning that risks remained despite improved global conditions.The Ministry of Trade and Industry said gross domestic product (GDP) climbed 0.2 percent year-on-year in the three months to March, much slower than the preceding quarter's 1.5 percent year-on-year growth.Compared with the previous quarter, the economy rose 1.8 percent, the ministry said, revising advance estimates released last month ...
ATHENS: Greece's current account deficit narrowed 43 percent in March, helped by falling imports due to the country's recession, the Bank of Greece said on Wednesday.The current account balance, a key measure of economic competitiveness, showed a deficit of 1.285 billion euros ($1.65 billion) from 2.237 billion euros in the same month last year.Falling imports due to the country's deep economic contraction and cost-competitiveness gains are narrowing the gap, which is expected to shrink to ...
HAMBURG: Jordan's state grains buyer has issued two international tenders to purchase 150,000 tonnes of wheat and 100,000 tonnes of feed barley, European traders said on Tuesday.The tender deadline for the wheat is Tuesday, May 21 and for the barley Wednesday, May 22.Jordan made no purchase in tenders for 150,000 tonnes of wheat and 100,000 tonnes of barley that closed last week, with market talk that participation had been thin.Traders said disagreement about a new ...
