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Poland's manufacturing PMI at 11-month low in May, below forecast WARSAW: Growth in Poland's manufacturing sector slowed down in May, confounding analysts' forecasts and boding ill for a further pick-up in the expansion in central and eastern Europe's largest economy. The HSBC Poland manufacturing PMI index (PMI) fell to 50.8 points last month, an 11-month low, from 52.0 in April, data compiled by Markit and HSBC showed. Economists polled by Reuters had expected the index to rise to 52.4. Readings above 50 point to expansions in activity. "The Polish manufacturing sector edged closer to stagnation in May," Markit said. "Growth of both output and new orders slowed for the third successive month to weak rates, and new export orders fell for the first time since May 2013." Markit said that a number of firms cited a fall in export contracts due to the Russia-Ukraine crisis. Poland has emerged as one of the staunchest European supporters of Kiev and strongly condemned ...

Indonesia's April exports fall, pushing trade balance to deficit JAKARTA: Indonesia's exports in April surprisingly weakened, tipping the country's trade balance into its largest deficit in nine months and renewing stress on the fragile rupiah. Recent signs of stability in the country's current-account deficit and moderating inflation had helped to revive investor confidence ahead of presidential elections in July. Inflation picked up in May but largely met forecasts, underlining expectations that Bank Indonesia will likely leave interest rates unchanged in the near term to ...
Japan insurer eyes $5.0bn buyout of US firm: report TOKYO: Japan's Dai-ichi Life Insurance said Monday it was considering buying a US firm with reports saying it was eyeing a nearly $5.0-billion takeover of Protective Life.The leading Nikkei economic daily and other Japanese media reported that the third-biggest Japanese life insurer was preparing to acquire the mid-sized firm based in the southern US state of Alabama.The purchase price would exceed 500 billion yen ($4.9 billion), the reports said, in what would be the latest ...
Spanish children face worsening poverty amid crisis MADRID: Even before Spain's economic crisis engulfed her home, Patricia Martin struggled to provide for her three children on her husband's street sweeper salary of around 900 euros ($1,200) a month.But after his hours were slashed and his income halved two years ago, the family has slipped dangerously towards a life of destitution in their tiny flat in Vallecas, a working class neighbourhood in southern Madrid.The couple is facing eviction for not paying their rent ...
China factory activity expands in 5-month BEIJING: China's factory activity expanded at the fastest pace in five months in May due to rising new orders, official data showed on Sunday, reinforcing views that the world's second-largest economy is regaining momentum in the second quarter following Beijing's targeted measures to bolster growth.The official Purchasing Managers' Index rose to 50.8 in May from April's 50.4, the National Bureau of Statistics said on Sunday, beating market expectations of 50.6."The PMI reading continued to improve ...
Egyptian govt says it is 70bn over budget on fuel subsidies CAIRO: Egypt said it would spend 70 billion pounds ($9.8 billion) more than budgeted on energy subsidies in the fiscal year ending June 30, in an indication of the crippling impact of the system on state finances.Interim Prime Minster Ibrahim Mahlab was quoted by state media late on Saturday as saying the bill would reach 170 billion Egyptian pounds. The latest finance ministry data showed the budgeted amount for petroleum subsidies at 99.6 billion pounds. ...
Tanzania's poor suffer from trade tax theft DAR ES SALAAM: Tanzania's mining revenues are touted as a key way to reduce reliance on foreign aid and pull people out of poverty, but experts argue companies are swindling the government out of at least $248 million a year.The East African nation topped the worst of a list of nations across the continent examined by the watchdog group Global Financial Integrity (GFI), with nearly $19 billion (14 billion euros) in illicit flows over the ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln