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Eurozone unemployment lowest for three years BRUSSELS: Unemployment in the eurozone fell to 10.9 percent in July, the first time it has dipped below 11 percent since February 2012, raising hopes that economic recovery is taking hold, official data showed on Tuesday.Joblessness in the 19-nation currency bloc fell from 11.1 percent in June, the EU statistics agency Eurostat said, but with youth unemployment at a still high 21.9 percent.As usual, the level of joblessness varied widely across the eurozone, but the sharp fall will boost hope that Europe is emerging from its prolonged debt crisis.Unemployment in powerhouse Germany was unchanged at 4.7 percent, the lowest rate in the currency bloc.The highest rate was in debt-stricken Greece, at 25 percent in May, the latest data available, but down from 25.6 percent a month earlier.Youth unemployment in Greece stood at 51.8 percent and at a still huge 48.6 percent in Spain, another country struggling to reignite job creation ...

South Korea August exports plunge by most since 2009 SEOUL: South Korea's exports in August suffered their biggest fall in six years, hit by weak global demand and falling prices, the trade ministry said Tuesday.Exports plunged 14.7 percent on-year to $39.33 billion, the largest percentage fall since August 2009 when the comparable figure dipped 20.9 percent on-year.It also represented the eighth consecutive month of decrease in exports.The trade ministry said exports would likely continue shrinking this month before seeing a slow recovery in the ...
China new home prices in first annual rise for 11 months BEIJING: New house prices in China rose in August from a year ago for the first time in 11 months, a survey showed Tuesday, as government monetary easing policies boosted demand.The average cost of a new home in the country's 100 major cities rose 0.15 percent year-on-year to 10,787 yuan ($1,692) per square metre last month, snapping 10 straight months of decline, the China Index Academy (CIA) said in a report.On a month-on-month basis, new ...
South Africa records a 400mn rand trade deficit in July JOHANNESBURG: South Africa recorded a trade deficit of 0.4 billion rand ($30 million) in July from a revised surplus of 5.5 billion rand in June, the national revenue agency said on Monday. Exports increased by 4.7 percent to 94.2 billion rand, while imports were up 12.0 percent to 94.6 billion rand on a month-on-month basis, the South African Revenue Service said. Copyright Reuters, 2015 ...
Canada Q2 current account deficit narrows to C$17.40 billion OTTAWA: Canada's current account deficit narrowed slightly in the second quarter of 2015 to C$17.40 billion ($13.18 billion) on more favorable trade in goods and services, Statistics Canada said on Monday. The deficit was greater than the C$16.90 billion shortfall predicted by analysts. Statscan revised the first quarter deficit up to C$18.15 billion - the second highest on record - from an initial C$17.47 billion. A strong gain in exports in June helped trim the ...
India's economy grew by 7.0pc in first quarter NEW DELHI: India's economy grew by a slower than expected 7.0 percent in the first quarter of this financial year, the government said Monday.Growth in the three months to June slowed to 7.0 percent from 7.5 percent in the previous quarter, figures from the statistics ministry showed.Copyright AFP (Agence France-Presse), 2015 ...
Greek retail sales dip 0.4 pct in June ATHENS: Greek retail sales by volume slipped 0.4 percent in June compared to the same month a year earlier, led lower by pharmaceuticals, cosmetics and furniture sectors, statistics service ELSTAT said on Monday.Data on gross domestic product released last week showed resilience in Greek consumer spending, which rose 1.1 percent in the second quarter and helped the economy expand by 0.9 percent.Sales volumes had risen for five months in a row through to October 2014 ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln