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German business confidence rises in April: Ifo FRANKFURT: German business confidence rebounded this month after a slight fall in March in Europe's biggest economy when companies worried about the Crimea crisis.The Ifo economic institute's closely watched business climate index rose to 111.2 points in April against 110.7 the month before, beating market expectations.Analysts polled by Dow Jones Newswires had predicted a slight decline to 110.5 points.Christian Schulz of Berenberg Bank said the data showed German businesses had shrugged off their worst fears over a military escalation in the Ukraine-Russia crisis."The situation in eastern Ukraine remains volatile and dangerous and poses the most serious risk to the eurozone recover at the moment," he wrote in a note. "But German businesses seem to estimate that the worst-case scenario of a war between Russia and Ukraine and escalating sanctions all the way to disruptions of Russian energy supplies to Europe remains unlikely."The Ukraine crisis is clearly far from over, but ...

Obama urges Japan to take 'bold steps' in huge trade deal TOKYO: US President Barack Obama on Thursday urged Japan to take "bold steps" to seal a Pacific-wide trade deal after Washington failed to wrestle key tariff concessions from Tokyo.The Trans-Pacific Partnership (TPP), a vast trade agreement that would cover about 40 percent of the global economy, is a key plank in Obama's bid for a renewed focus on Asia.It is also seen as crucial for Japanese Prime Minister Shinzo Abe's pledge to shake up his ...
South Korean economy expands 0.9pc in Q1 SEOUL: South Korea's economy grew by 0.9 percent for the second consecutive quarter as exports remained solid but domestic spending stalled, state data showed Thursday.Asia's fourth-largest economy recorded a seasonally-adjusted, on-quarter expansion of 0.9 percent during the January-March period, the central Bank of Korea said.The rate was the same as the growth figure for the fourth quarter of 2013, but lower than the market forecast of 1.0 percent.On year, it expanded by 3.9 percent -- ...
Mexico inflation seen cooling further in early April MEXICO CITY: Mexican annual inflation likely eased further in early April, backing expectations that policymakers will leave interest rates on hold this year to bolster a wobbly economic recovery.Inflation for the 12 months through the first half of April was seen easing to 3.55 percent, according to the median of 10 analysts polled by Reuters, down from a 3.89 percent rate in the first half of March and a 3.76 percent rate for the full ...
France deficit plan treads fine line, betting on growth PARIS: France outlined a slower roadmap on Wednesday to reduce its chronic deficit to the European Union's treaty limit next year, based on growth assumptions described by an independent watchdog as risky.Europe's second-biggest economy, with the highest public spending quota in the EU, is a serial laggard where recovery and public finances are concerned.It has already been granted a two-year extension until 2015 on the original deadline to bring its public deficit below the ceiling ...
China to open new areas to private investors: Xinhua BEIJING: China will launch 80 new pilot projects allowing private investment in areas previously dominated by state-run firms, official media reported on Wednesday.The report follows an earlier Communist Party pledge to let markets play a greater role in allocating capital, seen as a key step towards rebalancing the world's second-largest economy to ensure sustainable growth.The pilot projects cover areas including transport infrastructure, oil and gas pipelines, renewable energy and the coal, chemical and petrochemical sectors, ...
Britain's annual deficit below target: official data LONDON: Britain's annual deficit came slightly under the government's target, official data showed on Wednesday, against a backdrop of economic recovery and cuts to state spending.The coalition had a net borrowing of 107.7 billion pounds ($181 billion, 131 billion euros) in the year to the end of March, the lowest level since the height of the financial crisis in 2008/09, the Office for National Statistics said in a statement.It was also just under the Conservative-Liberal ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln