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Argentina says July tax income rises 36.3pc on year BUENOS AIRES: Argentina's tax revenue jumped 36.3 percent in July from the same month a year earlier to 145.999 billion pesos ($15.887 billion), the government said on Monday. This was above the median forecast of 141.912 billion pesos in a Reuters poll of analysts. Official data shows signs of an economic recovery in Argentina, Latin America's third biggest economy, helped by increased government spending ahead of October's presidential election. Even so, private economists estimate Argentina's inflation is running at between 25 and 30 percent, which would mean the increase in tax revenue is partly explainable by consumer price increases. Copyright Reuters, 2015 ...

US consumer spending edges higher in June WASHINGTON: US consumer spending edged higher in June, capping a rebound in the second quarter from weak growth in the first months of the year, the Commerce Department reported Monday.Consumer spending, which accounts for about 70 percent of US economic activity, rose 0.2 percent in June after a 0.7 percent gain in May and a 0.3 percent increase in April, the department said.For the April-June quarter, spending increased at an annual rate of 2.9 percent, ...
US manufacturing slows a tick in July WASHINGTON: US manufacturing activity slowed slightly in July amid weaker export orders and a continued drag from falling oil prices, the Institute for Supply Management reported Monday.The ISM purchasing managers index on the manufacturing sector fell to 52.7 in July from 53.5 in June. A reading above 50 indicates expansion. Analysts on average had expected the PMI would rise to 53.7.The July level was the lowest since April and remained well below the 12-month average ...
India factory output climbs to six-month high MUMBAI: India's factory output climbed to a six-month high in July on strong demand, a survey showed Monday, easing pressure on the central bank to cut rates when it meets this week.Japanese media group Nikkei said its purchasing managers index (PMI), formerly carried out by banking giant HSBC, increased to 52.7 points in July from 51.3 a month before.A reading of more than 50 points suggests industrial expansion while anything below indicates contraction, according to ...
China manufacturing index hits two-year low BEIJING: A key gauge of Chinese manufacturing activity plunged to a two-year low in July, an independent survey showed Monday, the latest data suggesting the world's second-largest economy faces downward pressure in the third quarter.The final reading of Caixin's Purchasing Managers' Index (PMI) came in at 47.8 for the month, the Chinese media group said in a joint statement with Markit, a financial information services provider that compiled the survey, down from a preliminary 48.2.The ...
South Korea posts record current account surplus SEOUL: South Korea on Monday posted a record current account surplus for the first half of this year as slumping oil prices helped offset the impact of shrinking exports.The current account -- the broadest measure of foreign trade in goods and services -- showed an unprecedented surplus of $52.4 billion in the six months to June, according to data from the central Bank of Korea.The surplus for June also hit a record monthly high of ...
Head of Greek statistics office says he will not renew his term ATHENS: The head of Greece's statistics office, Andreas Georgiou, told Reuters on Sunday he will not seek to renew his term of office when it expires. A veteran IMF statistician, Georgiou was appointed head of ELSTAT in 2010 in an effort to restore the credibility of Greek statistics a few months after the country's debt crisis erupted. Copyright Reuters, 2015 ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln