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Russia economic retaliation on Turkey won't cut too deep MOSCOW: Russia may mothball deals with Turkish firms and curb imports of Turkish goods in retaliation for the downing of a Russian fighter jet, but it is unlikely to let the fallout affect energy exports that are the core of their economic relationship. Pushed to the margins of the European mainstream, in part because of their idiosyncratic leaders, Turkey and Russia have found support in each other, building burgeoning trade ties. Those ties were under scrutiny on Wednesday after Russian Prime Minister Dmitry Medvedev accused Turkey of a "criminal act" in shooting down a Russian Su-24 jet. Ankara said it encroached into Turkish airspace, while Moscow said it did not. "The direct consequences could lead to our refusal to take part in a whole raft of important joint projects and Turkish companies losing their positions on the Russian market," Medvedev said in a statement. Energy exports from Russia to Turkey ...

UK plans tax rise on buy-to-let and second homes LONDON: Britain is to increase a tax on buy-to-let and second homes to ease demand for those squeezed out by house price rises but early reactions from some analysts warned that many undeterred investors will instead pass the cost on in higher rents. Double-digit price rises in London last year and at the start of 2015 have led to criticism that individuals who snap up properties to rent them out have stopped would-be first-time buyers ...
Mexico current account deficit widens in third quarter MEXICO CITY: Mexico's current account deficit reached $8.856 billion in the third quarter, the central bank said on Wednesday, widening from a revised $7.561 billion in the second quarter. The accumulated current account deficit for the year was the equivalent of 2.9 percent of gross domestic product, the central bank said. Copyright Reuters, 2015 ...
German export expectations rise as euro weakens BERLIN: German exporters expect stronger demand from abroad due to the weaker euro, with carmakers and chemicals companies especially upbeat, a survey showed on Wednesday. The euro hit a seven-month low of $1.0589 on Wednesday. Potential further policy easing by the European Central Bank, which meets next week, could weigh further on the euro, especially if the US Federal Reserve raises its benchmark interest rate at its Dec. 15-16 meeting as is widely expected. "German ...
Nigeria rate cut triggers stock rise; bonds, naira fall LAGOS: Nigeria naira and bond yields fell sharply on Wednesday while stocks rose, a day after the central bank announced a surprise interest rate cut aimed to stimulate lending in Africa's biggest economy, traders said. Nigeria's central bank cut benchmark interest rate to 11 percent from 13 percent on Tuesday, its first reduction in the cost of borrowing in more than six years. The continent's top oil producer has been hard hit by a plunge ...
Portugal public deficit falls 20pc in Jan-Oct LISBON: Portugal's public sector deficit fell 20 percent to 4.74 billion euros ($5.02 billion) in the first ten months of 2015 as tax revenues rose thanks to a recovering economy, and spending fell, the finance ministry said on Wednesday. The numbers were released a day before a new Socialist government comes to power, which has promised to raise public sector salaries, eliminate an extraordinary income tax and cut value added tax on the restaurant sector. ...
US jobless claims tumble WASHINGTON: Fewer American workers filed for unemployment insurance benefits last week as jobless claims continued to trend at a four-decade low in an improving jobs market, Labor Department data showed Wednesday.Initial jobless claims, an indicator of the pace of layoffs, tumbled by 12,000 to 260,000 in the week ending November 21. Claims in the previous week were revised up by 1,000 to 272,000.At 260,000, claims were near the 256,000 level of 42 years ago.The sharp ...


Index Closing Chg%
Arrow DJIA 17,813.39 0.01
Arrow Nasdaq 5,116.15 0.26
Arrow S&P 2,088.87 0.01
Arrow FTSE 6,393.13 0.88
Arrow DAX 11,320.77 1.35
Arrow CAC-40 4,946.02 1.08
Arrow Nikkei 19,944.41 0.49
Arrow H.Seng 22,488.94 0.04
Arrow Sensex 25,958.63 0.71

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln