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Russia takes bite out of McDonald's with US ties in deep freeze MOSCOW: Russian authorities seem to have scented blood as they show no sign of halting a clampdown on US chain McDonald's, launched after the West slapped sanctions on Moscow over its meddling in Ukraine. Ten outlets of the symbolic American eatery are now closed, McDonald's said Wednesday, months after the country's consumer watchdog began inspections at almost half of the burger giant's 451 restaurants nationwide. The hit to operations -- compounded by the closure of three branches on the Black Sea peninsula of Crimea, snatched by Moscow from Ukraine in March -- contributed to a miserable third-quarter for the global behemoth, as profits slipped on the back of a quality-control scandal in China and tougher US competition. McDonald's woes began in August when Russia's food safety agency Rospotrebnadzor launched inspections at over 200 outlets across the country over alleged "consumer fraud".The move came after the US and EU ramped up ...

New Zealand inflation rate slows to a crawl WELLINGTON: New Zealand's annual inflation rate fell to 1.0 percent in the 12 months to September, official data showed Thursday, dampening expectations of interest rate hikes for the rest of 2014.Statistics New Zealand said the cost of living rose just 0.3 percent in the July-September quarter, well below market forecasts of 0.5 percent, as transport costs fell and food prices remained flat.That put annual inflation at 1.0 percent, the bottom end of the Reserve Bank ...
US inflation ticks up unexpectedly in September WASHINGTON: US consumer prices rose slightly in September, contrary to analysts' expectations, the Labor Department reported Wednesday.The department's consumer price index (CPI), a key measure of inflation, rose by a seasonally adjusted 0.1 percent compared with August.Analysts had expected prices to remain unchanged from August, when they fell 0.2 percent for the first time in a year and a half.On an annualized basis, the CPI remained steady at 1.7 percent in September.A continuing decline in ...
South African inflation dips to 5.9pc JOHANNESBURG: South African inflation slowed to 5.9 percent last month from 6.4 percent in August, falling to within the central bank's target range, official data showed on Wednesday.Statistics South Africa said its September consumer price index fell by half a percentage point from the previous month, thanks in part to lower petrol prices.The South African Reserve Bank tries to keep inflation within a three to six percent band and has recently raised interest rates to ...
EU's Juncker pledges investment plan for jobs STRASBOURG: The incoming head of the EU executive, Jean-Claude Juncker, told the European Parliament on Wednesday that he would present his 300-billion-euro plan for investment to bolster growth and jobs by the end of this year.Switching significantly to German during a keynote address ahead of a parliamentary vote to endorse his new European Commission, Juncker said investment was vital to restoring growth and creating jobs.Germany, Europe's dominant economy, is resisting calls for it to spend ...
Doubts over Angola snatching Africa's top oil spot LUANDA: Insiders from Angola's burgeoning oil industry have reacted sceptically to predictions that the rapidly growing nation may be about to overtake Nigeria as Africa's largest oil producer.The International Energy Agency has predicted that from 2016 to around 2020 Angola will pump more crude onto the world market than its rival, thanks in part to Nigerian oil being syphoned onto the black market. "If it happens it will mainly be because of instability in Nigeria, ...
Modi burnishes economic credentials with reform blitz NEW DELHI: India's Prime Minister Narendra Modi has unleashed a slew of reforms in the past week, scrapping fuel subsidies, simplifying labour rules and pledging to open coal mining to private players in a bid to kickstart the economy.The reforms are seen as some of the most significant since Modi's right-wing Bharatiya Janata Party (BJP) in May scored India's biggest electoral win in three decades.But analysts say the reforms so far represent the low-hanging fruit, ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln