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South Korea finance minister says economy on steady recovery SEOUL: South Korea's economy has escaped sluggish growth seen in the fourth quarter of last year and seems to be on a steady recovery, the country's finance minister told lawmakers on Tuesday.However, despite improvements the recovery momentum has not spread to all part of the economy as capital investment remains shaky and exports have been lagging on weak demand from China, Finance Minister Choi Kyung-hwan said.Copyright AFP (Agence France-Presse), 2015 ...

North Korea extends deadline in Kaesong wage row SEOUL: North Korea has agreed to extend a deadline to settle a dispute over the payment of wages by South Korean factory owners to workers at the Kaesong joint industrial zone, a businessman said Monday.The North announced in February that it would unilaterally raise the wages of more than 50,000 North Korean workers employed by 125 South Korean firms operating in Kaesong, just north of the border between the two countries.South Korea demurred, insisting that ...
Indonesia seeks to lure investors at 'Asia's Davos' JAKARTA: Indonesia welcomed business chiefs and government leaders Monday to Asia's edition of the World Economic Forum, as calls mount for President Joko Widodo to do more to show his commitment to reform.Some 700 participants are attending the event, known as "Asia's Davos" in reference to the WEF's annual global gathering in Switzerland, at the start of a busy week for Jakarta, which is also hosting a summit of Asian and African leaders. Indonesia has ...
US consumer prices edge up in March WASHINGTON: US consumer prices ticked higher in March, lifted by a rebound in energy prices, the Labor Department reported Friday.The consumer price index (CPI) rose 0.2 percent for the second month in a row in March, weaker than the 0.3 percent increase expected by analysts.Year-over-year, inflation dipped back into negative territory with a 0.1 percent fall. In January inflation had turned negative for the first time since 2009.The CPI number month-over-month was pulled higher by ...
IMF's Lagarde says Greece should not delay payments WASHINGTON: The head of the International Monetary Fund on Thursday signaled that the IMF would not agree to let Greece delay a scheduled bailout payment, saying the Fund needed to protect its sterling reputation as a global lender.Greece is fast running out of cash and its euro zone and IMF lenders have frozen bailout aid until the new leftist-led government in Athens reaches agreement on a package of reforms.That has raised fears the Greek government ...
US housing starts creep higher in March WASHINGTON: New construction of homes in the United States was stuck in the doldrums for a second straight month in March, according to government data released Thursday.Housing starts rose 2.0 percent in March to an annual rate of 926,00 units, but were down 2.5 percent from March 2014, the Commerce Department said.Starts increased less than expected as severe winter weather in February eased in March. On average, analysts expected a March rate of 1,045 units.Starts ...
German economic institutes hike 2015 growth forecast to 2.1pc BERLIN: Germany's leading economic institutes sharply raised their growth forecast Thursday, predicting Europe's top economy will expand 2.1 percent this year thanks to cheap oil, the low euro and strong consumer spending.The forecast by four research institutes was sharply higher than the 1.2 percent growth for 2015 they had predicted last autumn.Copyright AFP (Agence France-Presse), 2015 ...

 



 
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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
WeeklyApril 16, 2015
Reserves $16.818 bln