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Fitch places Japan credit on Rating Watch Negative TOKYO: Fitch Ratings on Tuesday placed Japan's sovereign credit on Rating Watch Negative, warning that the delay in raising consumption tax would put the government's objective of reducing the national debt at risk.The warning came a week after Moody's downgraded Japan's credit rating, citing "rising uncertainty" over the debt situation and Prime Minister Shinzo Abe's faltering efforts to kickstart the world's number three economy.Fitch said it has placed Japan's A+ long-term sovereign credit rating on negative watch."The Japanese government's decision to delay a consumption tax increase ... will meet a negative sensitivity identified in Fitch's May 2014 sovereign credit review of Japan, unless broadly equivalent and permanent fiscal measures are announced in the forthcoming budget," it said in a statement.The ratings firm said it considers such fiscal measures will be "unlikely". In the wake of poor growth figures, Abe announced last month that a planned sales tax rise set for ...

Swedish unemployment seen falling slower next year STOCKHOLM: Unemployment in Sweden will decline this year and next but slower than previously expected, a survey by the Swedish Public Employment Service (SPES) showed on Tuesday.Unemployment was seen declining to 8.0 percent 2014 from 8.1 percent in 2013 and fall to 7.9 percent in 2015, SPES said.In 2016 unemployment was expected to fall to 7.7 percent.Its previous outlook for unemployment, issued in June, forecast 8.0 percent in 2014 and 7.6 percent in 2015.SPES also ...
UK Oct factory output slides, hit by electronics, after strong Sept LONDON: British industrial output unexpectedly fell in October as manufacturing was dragged down by a sharp fall in production of electronic products following a strong September.Output for industry overall fell 0.1 percent in October having jumped by a revised 0.7 percent in September, the Office for National Statistics said on Tuesday.Manufacturing output tumbled 0.7 percent - its biggest monthly decline since May - hit by a 4.5 percent fall in computer, electronic and optical products.Pharmaceutical ...
IMF urges Kazakhstan to bolster reforms for faster growth ALMATY: The International Monetary Fund on Tuesday cut its economic growth forecast for oil-rich Kazakhstan this year, partly due to the slump in global crude prices, and urged the government to press ahead with promised structural reforms.Central Asia's largest economy is facing weaker demand at home and abroad, especially from Russia, China and Europe, and continued regional uncertainty linked to the Ukraine crisis as well as falling oil prices, a visiting IMF mission said.The IMF ...
Kenya to boost 2015/16 spending by 10 percent NAIROBI: Kenya will increase spending by 10 percent in the 2015/16 fiscal year (July-June) to 1.849 trillion shillings ($20.5 billion), the finance ministry said on Tuesday.The Treasury said in a pre-budget presentation the government planned to borrow 141.2 billion shillings from the domestic market to partly plug a predicted budget deficit of 6.8 percent of gross domestic product (GDP).The budget deficit is 7.8 percent in 2014/15, to be partly funded by borrowing 101.7 billion shillings ...
South Africa's October manufacturing up 2.2 percent y/y JOHANNESBURG: South Africa's manufacturing production slowed in line with expectations in October, expanding 2.2 percent year-on-year from a revised 8.6 percent growth in September, Statistics South Africa said on Tuesday.On a month-on-month basis, factory production growth slowed to 0.5 percent, and rose by 3.8 percent in the three months to October compared with the previous three months. Economists had expected a 2.0 percent expansion on a month-on-month basis.Copyright Reuters, 2014 ...
Belgium to raise more long-term debt in 2015 BRUSSELS: Belgium aims to issue a larger amount of long-term debt in 2015 as it needs to refinance more maturing bonds next year, the country's debt agency said on Tuesday.The AA-rated sovereign will raise 32.5 billion euros ($40.15 billion) of medium- and long-term OLO bonds in 2015, a touch above the 31.8 billion euros of OLOs issued in 2014. Its 2014 target was 30 billion euros.While Belgium raised its funding target significantly in previous years, ...

 



 
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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%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 06, 2015
Reserves $18.201 bln