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Spain jobless rate falls to 22.7pc MADRID: Spain's unemployment rate fell sharply to 22.7 percent in the second quarter, official data showed Thursday, as the government boasted of creating hundreds of thousands of jobs ahead of an election.The key measure declined by 1.4 points from 23.78 percent in the previous quarter, with 5.15 million people unemployed overall -- 295,600 fewer than in the first quarter, the National Statistics Institute said in a statement."Never in Spain's economic history have so many jobs been created in a single quarter," Prime Minister Mariano Rajoy said in a televised speech after the figures were released.The unemployment level is still the second-highest in the eurozone after Greece, the starkest sign of the lingering damage from the economic crisis that erupted in 2008 after a building boom went bust."There are still many Spanish people and families having a very hard time. I will take care of that," Rajoy added in a Twitter ...

MERS outbreak smothers South Korea economic recovery in Q2 SEOUL: South Korea's economy slowed in the second quarter, with consumer spending stifled by an outbreak of Middle East Respiratory Syndrome (MERS) and exports failing to lift themselves out of a lengthening slump.Asia's fourth largest economy grew 0.3 percent in the April-June period, down from 0.8 percent in the first quarter, the Bank of Korea said Thursday.The central bank put year-on-year growth at 2.2 percent -- the slowest pace for more than two years and ...
South Korea Q2 GDP more than halves from Q1, weaker than expected SEOUL: South Korea's economy grew just 0.3 percent in April-June over the previous quarter, the central bank estimated on Thursday, the slowest in two quarters with consumption battered by an outbreak of Middle East Respiratory Syndrome. It follows 0.8 percent growth for the first quarter and marks the weakest since a 0.3 percent gain in the last quarter of 2014.It was also slightly below a 0.4 percent gain tipped in a Reuters survey of 20 ...
US existing-home sales surge in June, prices hit record WASHINGTON: Sales of existing homes in the US surged in June to their highest level in more than eight years and prices hit a record high, the National Association of Realtors said Wednesday.Sales of previously owned homes rose to an annual rate of 5.49 million units, a gain of 3.2 percent from the slightly downwardly revised May level, the NAR reported.June's heated sales pace was the strongest since February 2007, before the economy entered the ...
South African inflation edges up ahead of rate decision JOHANNESBURG: South Africa's annual inflation rate rose slightly to 4.7 percent in June, official data showed Wednesday, ahead of a central bank decision that could see interest rates increase for the first time in a year.The 0.1 percent rise in inflation from the previous month was largely driven by the housing and utilities sectors.Nedbank, one of the country's largest lenders, said the 4.7 percent figure was lower than market expectations of 5.0 percent.It predicted inflation ...
Interest rate cuts 'on table' as inflation stays soft SYDNEY: Further interest rates cuts remain "on the table", Australia's central bank chief said Wednesday, as new official data showed that Australian consumer prices rose 0.7 percent in the three months to June, keeping annual inflation subdued.Reserve Bank of Australia governor Glenn Stevens said weak economic growth had seen the cash rate decline to "very low levels"."The question of whether they might be reduced further remains, as I have said before, on the table," Stevens ...
Singapore freezes accounts linked to probe of Malaysia's 1MDB SINGAPORE: Singapore police on Wednesday confirmed they had frozen two bank accounts as part of an investigation into possible money-laundering offences related to troubled Malaysian state investment firm 1MDB.The company is under investigation by Malaysian authorities following reports of irregularities including fund transfers allegedly involving Prime Minister Najib Razak, who has strongly denied any wrongdoing."We understand that the Malaysian authorities have launched investigations into certain matters related to 1MDB," the Singapore Police Force (SPF), which ...

 



 
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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln