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Egypt to offer projects to domestic, foreign investors CAIRO: Egypt will offer a slew of projects to domestic and foreign investors at a conference in March aimed at kick-starting an economy battered by years of political unrest, the prime minister said Saturday.Falling tourist revenues and slowing investments have left Egypt's economy in ruins after nearly four years of turmoil that saw two presidents ousted following mass street protests.But President Abdel Fattah al-Sisi, elected by a landslide this year, has put economic recovery at the top of his agenda, and the March 13-15 conference in the resort town of Sharm El-Sheikh will highlight a series of projects for which investment is wanted.The premier, Ibrahim Mahlab, told reporters in Cairo the gathering will be the "cornerstone for Egypt's economic revival and aims to provide the resources used... to improve health care services, the educational system and provide energy to all."Among them, he mentioned at least 10 projects in energy and ...

Greece battles lenders over projected budget gap, Fitch affirms rating ATHENS: Greece's government on Friday pushed ahead with plans for a near-balanced budget next year, ignoring objections from its international lenders who say Athens is set to miss its deficit forecast.The government and the European Union and International Monetary Fund have been at loggerheads over the projected 2015 deficit, with the lenders arguing Greece will miss the 0.2 percent of economic output target because of a new payback plan for austerity-hit Greeks who owe the ...
Brazil government slashes 2014 budget surplus goal BRASILIA: Sharp depletion of Brazil's fiscal accounts has prompted the government to slash its key budget surplus goal to a fraction of its original target, according to a planning ministry report released on Friday.In the report, the government says it plans to deduct 106 billion reais in investments from its original primary surplus goal of 116 billion reais ($46.12 billion) or the equivalent of 2.15 percent of GDP. That leaves a surplus of only 10 ...
South Korea Nov 1-20 exports rise 3.6pc y/y, imports down 3.1pc SEOUL: South Korean exports rose 3.6 percent in the first 20 days of November compared with the same period last year while imports fell 3.1 percent, customs agency data showed on Friday.Exports for the Nov. 1-20 period totaled $29.854 billion and imports were $28.567, Korea Customs Service said on its website.It said the trade surplus for the 20 days was $1.287 billion.The trade ministry will release preliminary trade figures for all of November on Dec. ...
UK retail sales rebound, set to counter growth slowdown LONDON: British retail sales jumped in October, suggesting that shoppers will take the edge off an end-of-year economic slowdown as Europe's weak growth takes its toll on Britain's factories.Sales volumes rose by a much stronger-than-expected 0.8 percent on the month, helped by purchases of furniture after the housing market surged earlier this year and by falling prices, data from the Office for National Statistics showed on Thursday.Consumer spending has driven Britain's strong economic recovery which ...
US consumer prices unchanged, but underlying inflation picking up WASHINGTON: US consumer prices were unexpectedly flat in October, but there are signs that underlying inflation pressures are starting to push higher.The Labor Department said on Thursday falling gasoline prices, which offset rising shelter and medical costs, had restrained its Consumer Price Index last month.The CPI had gained 0.1 percent in September and economists polled by Reuters had it slipping 0.1 percent last month. The CPI increased 1.7 percent in the 12 months through October, ...
US jobless claims fall; continuing claims lowest since 2000 WASHINGTON: The number of Americans filing new claims for unemployment benefits fell less than expected last week, but continued to point to strengthening labor market conditions.Initial claims for state unemployment benefits slipped 2,000 to a seasonally adjusted 291,000 for the week ended Nov. 15, the Labor Department said on Thursday.The prior week's data was revised to show 3,000 more applications received than previously reported.The four-week moving average of claims, considered a better measure of labor ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln