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Ukraine GDP plunges 17.6pc in first quarter of 2015 KIEV: The Ukraine economy shrunk 17.6 percent in the first quarter of 2015 compared to the same period last year, sapped by continuing violence in its eastern industrial heartland, the national statistics agency said Friday.The fall in Q1 GDP was 6.5 percent compared to the final quarter of 2014, Ukraine's state statistics service said. The plunge followed recent forecasts by international organisations predicting Ukraine's economy would decline even faster than expected as the continuing conflict with separatists in the east undermined industrial production. On Thursday the European Bank for Reconstruction and Development said Ukraine's "GDP is now expected to shrink by 7.5 percent this year -- a worsening outlook since January, when a five percent contraction was forecast."In late April, the World Bank revised its 2015 outlook for Ukraine down from an initial 2.3 percent to 7.5 percent, saying "the conflict in the east has become the main driving force ...

South Korea leaves interest rate at record low SEOUL: South Korea's central bank left its key interest rate unchanged at a record low of 1.75 percent on Friday, following signs of a growth in the first quarter.The Bank of Korea has carried out three rate cuts since the second half of last year -- in August, October and March -- in a bid to shore up growth in Asia's fourth-largest economy.The decision to freeze the rate in May had been widely expected, although ...
FDI into China rises in April BEIJING: Foreign direct investment (FDI) into China jumped more than 10 percent year-on-year in April, the commerce ministry, accelerating significantly from previous months despite slowing growth in the world's second-largest economy.FDI, which excludes financial sectors, rose 10.5 percent to $9.61 billion, the ministry said, after rises of 2.2 percent in March and only 0.9 percent in February.For the first four months of the year, it increased 11.1 percent to $44.49 billion, the ministry said, describing ...
India's wholesale prices fall for sixth month MUMBAI: India's wholesale inflation dropped for a sixth straight month as fuel prices and manufacturing costs continued to ease, government data showed Thursday.The Wholesale Price Index (WPI), an inflation indicator which measures the biggest basket of goods, fell a sharper-than-expected 2.65 percent in April from a year earlier.The fall was bigger than the 2.30 percent slip predicted by a Bloomberg survey and follows a 2.33 percent decline in March.The WPI data comes two days after ...
Brazil looking to China for investment, trade BRASÍLIA: Brazil signalled Wednesday it will look to China for major investments in its infrastructure as it prepares to host next year's Olympics amid an economic slump.Investments and trade will be at the top of the agenda next week when Chinese Prime Minister Li Keqiang meets here with President Dilma Rousseff.In an interview with China Business News, Rousseff said she is hoping for Chinese investments to upgrade Brazil's dilapidated railroads, highways, ports and airports."I hope ...
Weak US retail sales dampen sharp Q2 growth rebound hopes WASHINGTON: US retail sales were flat in April as households cut back on purchases of automobiles and other big-ticket items, the latest sign the economy was struggling to rebound strongly after barely growing in the first quarter.The weaker-than-expected retail sales report from the Commerce Department, and other data on Wednesday showing the 10th straight month of declining import prices in April, suggest little urgency for the Federal Reserve to start raising interest rates."Hopes for a ...
Canadian home prices rise in April, but pace slows TORONTO: Canadian home prices rose in April from a month earlier, the fourth straight monthly increase, but the pace of the gains was slower than in March and the hot markets of Toronto and Vancouver were flat, the Teranet-National Bank Composite House Price Index showed on Wednesday.The index, which measures price changes for repeat sales of single-family homes, showed national home prices rose 0.2 percent last month from March. Prices were up 4.4 percent from ...

 



 
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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln