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Thai June import slump may brake economic recovery BANGKOK: Thailand's exports in June improved but imports tumbled sharply, highlighting the challenges faced by the military government as it tries to get economic growth back on track.Annual exports grew 3.9 percent, Commerce Ministry data showed on Monday, stronger than 3.1 percent forecast in a Reuters poll. But the growth rate was well below the 7.2 percent indicated by a senior ministry official on Friday.Imports surprisingly fell 14.03 percent from a year earlier, nearly matching the double-digit declines in April and March, and compared with expectations for a 3.75 percent decline.Thailand mainly imports materials which are assembled into completed products and goods again, so a sharp drop could cast doubt on whether the export rebound in June can be sustained.The mixed trade data suggests the economy may not recover as quickly as expected from a contraction in the first quarter, despite the military government's plans to kick-start growth.Benjamin Shatil, economist ...

Philippine central bank may tighten again to tackle inflation MANILA: The Philippine central bank is expected to tighten policy for the fourth straight meeting on Thursday to tackle inflationary pressure, by raising either its main overnight borrowing rate or the rate on its special deposit accounts (SDAs).Twelve economists polled by Reuters were split down the middle on the main rate : six expected no change but the remaining six forecast it would be raised by 25 basis points to 3.75 percent, which would be ...
Russia ordered to pay Yukos shareholders $50bn LONDON: The arbitration court in The Hague has ordered Russia to pay shareholders of Yukos $50 billion in compensation over its seizure of the one-time oil giant, main shareholder GML Ltd said in London on Monday.The Permanent Court of Arbitration (PCA) ruled on July 18 that Russia pay the claimants "in excess of $50 billion" after finding it had forced Yukos into bankruptcy and sold its assets to state-owned businesses for political purposes, the claimant's ...
Great Portland Estates portfolio value rises 3.8pc in Q1 LONDON: Property group Great Portland Estates said the value of its portfolio of assets in central London rose by a net 3.8 percent in the first quarter to 2.8 billion pounds ($4.8 billion), reflecting healthy demand for prime property.Chief Executive Toby Courtauld said the company had made a strong start to its financial year, with good progress across its 2.3 million square feet development programme, including starting its largest ever development, Rathbone Square, at the ...
India's Reliance Power to buy Jaypee hydropower stations MUMBAI: India's Reliance Power will buy three hydropower plants from Jaiprakash Power Ventures for an undisclosed sum to cut its dependance on coal, the firm said Monday.The deal will make Reliance Power -- controlled by billionaire Anil Ambani, the younger brother of India's richest man Mukesh Ambani -- the largest private provider of hydroelectric power in India, the firm's statement said.Reliance has signed a memorandum of understanding to buy the three plants, the entire hydropower ...
Philippines posts $1.4bn budget deficit in June MANILA: The Philippines had a budget deficit of 62.5 billion pesos ($1.4 billion) in June, wider by more than 600 percent against the year-ago deficit of 8.5 billion pesos, the Department of Finance said on Monday.It posted a first-half budget deficit of 54 billion pesos, just a fifth of the full-year deficit target of 266 billion pesos, equivalent to 2 percent of GDP. Last year's shortfall was 164.1 billion pesos, or 1.4 percent of GDP. ...
IMF urges ‘steady implementation’ of Ukraine loan programme WASHINGTON: The International Monetary Fund urged Ukraine's leaders on Friday to press forward with "steady implementation" of economic reforms agreed with the fund, a day after the prime minister tendered his resignation.A fund spokesperson said the IMF's Managing Director Christine Lagarde spoke by telephone with Ukrainian President Petro Poroshenko and Prime Minister Arseny Yatseniuk, who tendered his resignation on Thursday."The discussions focused on the implications of the recent political developments in Ukraine for economic policies, ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln