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China Jan-Sept factory profit growth slows as demand weakens BEIJING: China's industrial profit growth slowed in the first nine months, reinforcing signs of fragility in the world's second-largest economy, as factories struggled with falling prices and softening domestic demand.Industrial companies made a combined profit of 4.37 trillion yuan ($714.68 billion) between January and September, up 7.9 percent from a year earlier, the National Bureau of Statistics said on Tuesday. That compares with a 10 percent rise in the first eight months.The slowdown was partly caused by a special levy on the incomes of some oil and gas firms, which led to a write-down of profits, He Ping, an official at the bureau's industrial department, said in a statement.Chinese manufacturers have been struggling with falling factory-gate prices as demand weakens. China's producer price index (PPI) fell 1.8 percent in September from a year earlier, its 31st consecutive monthly decline.China's annual economic growth slowed to 7.3 percent in the third quarter, ...

Mexico's finance ministry sees 2015 oil price lower than in budget MEXICO CITY: Mexico's finance ministry said on Monday that it expected a lower oil price for Mexican crude next year than it projected in its 2015 budget proposal, which was submitted before the recent drop in global crude prices.The finance ministry said in a statement that its formula now projected an average price of $79 per barrel next year, below its proposal of $82 made in September and an $81 price approved by lower house ...
IMF praises Serbia's spending cuts, plans loan talks for November BELGRADE: The International Monetary Fund welcomed on Monday Serbia's move to reduce spending to stabilise its finances and announced its team will visit Belgrade next month to start talks on a new loan agreement. The Serbian parliament approved on Sunday a revised 2014 budget, introducing cuts to pensions and public sector wages from the beginning of November.The government said these measures were needed to help secure an IMF deal, which in turn is seen as ...
Mexico's Mexichem reports $47.62 million 3rd-qtr profit MEXICO CITY: Mexican chemicals and plastic pipe maker Mexichem on Monday posted a $47.62 million third-quarter profit, helped by a lower tax bill and higher revenue.The company reported a loss of $61.65 million in the year-earlier period, when it was hurt by restructuring charges and a dip in revenue and core profit due to lower prices for its cooling gases.Copyright Reuters, 2014 ...
US services sector growth slows, pending home sales miss forecast WASHINGTON: US services sector activity dipped to a six-month low in October, pointing to some moderation in economic growth early in the fourth quarter.Another report on Monday showed contracts to buy previously owned homes rebounded less than expected in September, an indication that the housing recovery remains gradual.Financial data firm Markit said its preliminary or "flash" services sector Purchasing Managers Index slipped to 57.3 last month, the lowest reading since April, from 58.9 in September. ...
France to trim 2015 budget deficit further PARIS: The French government plans to cut its budget deficit by an additional 3.6-3.7 billion euros ($4.6-4.7 billion) next year, Finance Minister Michel Sapin said on Monday, adding that this should allow Paris to respect EU-deficit rules.Sapin updated the government's 2015 budget plans in a letter to the European Commission, a copy of which Reuters obtained. The Commission has until Wednesday to decide whether to reject France's 2015 draft budget for overshooting EU-agreed deficit limits.The ...
Italy promises EU new measures to reduce deficit MILAN: Italy said Monday it was pledging "additional measures" to reduce its structural budget deficit by 0.3 percent of GDP in 2015, after it was warned by the European Commission it risked breaching EU fiscal rules.Economy Minister Pier Carlo Padoan sent a letter to Commission vice president Jyrki Katainen after Italy postponed balancing its budget in structural terms from 2015 to 2017.The treasury said it would speed up efforts to reduce Italy's mammoth deficit and ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
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