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Benin cotton output beats forecast, rises 28pc in 2014/15 COTONOU: Cotton output in Benin rose more than expected in the 2014/2015 season, by 28 percent year-on-year to 393,000 tonnes from a forecast 359,000, and is forecast to reach 500,000 tonnes in the next season, the government said.Cotton production, a top export earner for the West African nation, contributed some 200 billion CFA francs in revenue to the state, agriculture minister Issa El Hadj Azizou said in a statement released late on Friday.The cotton sector employs about 70 percent of Benin's more than 10 million people and represents about 20 percent of its gross domestic product.In neighbouring Togo, cotton production rose over 45 percent year-on-year to 113,000 tonnes in the season, NSCT, the company that oversees the industry in the West African state said, also late on Friday. NSCT said it expected 2015/2016 harvest at 130,000 tonnes.Copyright Reuters, 2015 ...

India's economy grows 7.3 percent in 2014-15 NEW DELHI: India on Friday reported economic growth of 7.3 percent for 2014-15, up from 6.8 percent the previous year but missing by a whisker the government's own forecast.The growth rate for the financial year ended March 31, 2015 came in slightly lower than the 7.4 percent that the statistics ministry had predicted back in February.Friday's figures were the first Gross Domestic Product data to be released since the government introduced a revised formula for ...
Oil shock drags down Canadian economy in first quarter OTTAWA: Canada's economy contracted 0.6 percent at an annualized rate in the first quarter, dragged down by a plunge in oil prices, the government's statistical agency said Friday.The figure is worse than the 0.2 percent growth forecast by analysts and down from 2.4 percent growth last quarter.Copyright AFP (Agence France-Presse), 2015 ...
US economy contracted 0.7pc in first quarter WASHINGTON: The US economy contracted at an annual rate of 0.7 percent in the first quarter of this year, the Commerce Department said Friday in a revised GDP estimate.The downturn was due in part to the impact on trade of the three-month West Coast ports slowdown, as well as a lower level of private inventory investment than previously estimated. The sharp revision of the original estimate of an 0.2 percent expansion had been expected, as ...
Denmark goes to polls on seven quarters of growth COPENHAGEN: Denmark registered its seventh straight quarter of growth in January-March, rising by 0.4 percent from the previous three-month period, data showed Friday just three weeks ahead of a general election.This is the first time the Scandinavian country has enjoyed such a long period of growth since 2000.Earlier this week, Prime Minister Helle Thorning-Schmidt called legislative elections for June 18 even though her Social Democratic-led government is trailing the right-wing opposition in the polls.Under election ...
German retail sales rebound in April BERLIN: German retail sales, a closely watched measure of household confidence, bounced back strongly in April after falling the previous month, official data released Friday showed.Retailers' sales in Europe's top economy rose 1.7 percent in April on a month-on-month basis, after falling 1.4 percent in March, the federal statistics office Destatis said in a statement.It had initially reported a 2.3-percent decline in March but corrected the figure based on more complete data.Analysts polled by financial ...
Sri Lanka raises $1bn abroad after parliament snub COLOMBO: Sri Lanka's new government raised nearly a billion dollars through its first overseas bond issue after parliament shot down plans to increase local borrowings, the country's central bank said Friday.The Central Bank of Sri Lanka said $650 million was raised Thursday through a 10-year bond at an annual interest rate of 6.125 percent while the rest was through shorter tenure."A total of $988 million was raised via international sovereign bonds and Sri Lanka Development ...


Index Closing Chg%
Arrow DJIA 18,010.68 0.64
Arrow Nasdaq 5,070.03 0.55
Arrow S&P 2,107.39 0.63
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Arrow DAX 11,413.82 2.26
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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 $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln