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EU's Ashton says 'biggest fear' is over Ukraine's economy BRUSSELS: European Union foreign policy chief Catherine Ashton voiced deep concern on Saturday over the fragility of Ukraine's economy and urged the rest of the world to rally round to support it."We have to make sure that Ukraine, economically, does not fall over ... My biggest fear right now is the state of economy and the need for us all to offer the support that they need," Ashton told an event organised by the German Marshall Fund think tank. "How do we make sure this economy holds together?"Ukraine's new government, which took power when pro-Russian president Viktor Yanukovich was ousted after months of street protests, has said it desperately needs cash to cover expenses including gas imports and avert a possible debt default.Ashton said a short-term budget deficit problem had to be resolved "relatively quickly".Another problem was the "economic viability of industry, many parts of which need to be modernised, ...

Global coffee supply on track for 2014 - 15 deficit: BNP Paribas NEW ORLEANS: The global supply of coffee will shift to a small deficit in the 2014 - 15 crop year for the first time in five years as top grower Brazil's bean output drops to 51.5 million bags following a drought, a BNP Paribas strategist said on Saturday. Keith Flury, Agricultural Markets Strategist for the bank, said at the National Coffee Association of USA conference in New Orleans that he expects a global coffee deficit ...
Egypt targets 3-3.4 percent economic growth for 2014/15 CAIRO: Egypt is targetting between 3 to 3.4 percent growth in Gross Domestic Product (GDP) next fiscal year, the country's Planning Minister Ashraf al-Arabi said on Saturday.Egypt has undergone more than three years of political and economic turmoil since a popular uprising ousted autocrat Hosni Mubarak in 2011.The economy grew a meagre 2.1 percent last fiscal year and the finance minister revised growth forecasts for this year, narrowing them to between 2 to 2.5 percent ...
Mexico inflation seen cooling below 4 pct in early March MEXICO CITY: Mexican annual inflation likely cooled in early March to just below the central bank's upper limit, which would back expectations that policymakers will leave interest rates on hold this year.Inflation for the 12 months through the first half of March was seen easing to 3.97 percent, according to the median of 10 analysts polled by Reuters, down from a 4.21 percent rate in the first half of February and a 4.23 percent rate ...
Beijing to end anti-dumping wine probe after European 'deal': ministry BEIJING: Beijing will end an anti-dumping inquiry into wine imports from the European Union, China's commerce ministry said on Friday, after what it said was a deal between producers.The announcement comes a day before Chinese President Xi Jinping sets off on a visit to Europe. The ministry said in a statement that after six rounds of talks since November, Chinese and EU wine industry groups signed a memorandum of understanding on Tuesday to "solve the ...
Italian leather industry concerns from export ban on Russian hides MILAN: Italy's leather industry is worried about losing millions of euros if a possible temporary ban on exports of animal skins from Russia is enforced. Home to handbag makers Prada and Gucci, Italy is Europe's biggest producer of finished leather but less than 10 percent of the raw or semi-finished hides used in the industry come from Italian farms. Russia is its fifth-biggest supplier, according to tanners' association UNIC. On Feb. 6, Russia's Ministry of ...
Sri Lanka GDP growth below forecast, bank holds rates COLOMBO: Sri Lanka's economy grew a weaker-than-expected 7.3 percent last year, the country's central bank said Friday as it kept interest rates at multi-year lows as it looks to boost private investment and lending.The Central Bank of Sri Lanka said last year's expansion was much stronger than the 6.3 percent recorded in 2012 thanks to a pick-up in exports and foreign remittances. However, the figure was below the bank's 8.0 percent forecast as an expected ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
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