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Norway's jobless rate up, retail sales down, fuelling rate-cut hopes OSLO: Norwegian unemployment surged and consumption fell in September, putting pressure on the central bank to loosen policy as the economy falls victim to plunging oil prices and Europe's tepid growth.The jobless rate jumped to 3.7 percent, defying expectations for an unchanged 3.4 percent rate. Retail sales eased 0.1 percent on the month, against expectations for a 0.8 percent increase."We are adjusting our interest rate forecast today and now see a rate cut in the summer of 2015," DNB economist Kyrre Aamdal said. "The numbers are clearly weaker both for retail and unemployment. Today's economic data increase the chance that this cut will come earlier."DNB earlier on Wednesday cut its forecasts for Brent crude by $20 per barrel to $80 and sees the 2016 price at $85, indicating an extended drag on the Norwegian economy. Brent traded around $115 per barrel in June, falling to around $85 this month.The crown ...

Singapore, New Zealand, Hong Kong best for business WASHINGTON: Small and well-run Singapore, New Zealand and Hong Kong are the world's easiest places to run a business, while global giants China, Brazil and India remain far down the list, according the World Bank.Three small but hot Pacific economies led the Bank's annual "Doing Business" report, released Wednesday, which focuses on where businesses are best helped and least hindered by government.The top 10 was filled out by Denmark, South Korea, Norway, the United States, ...
South Korea current account surplus grows in September SEOUL: South Korea's current account surplus widened to $7.6 billion in September as exports grew and spending by Korean travellers overseas fell, state data showed Wednesday.The preliminary figure compared with a revised surplus of $7.2 billion in August, the central Bank of Korea said. The current account -- the broadest measure of foreign trade in goods and services -- has been in the black for 31 months in a row.Exports last month stood at $51 ...
Japan factory output posts surprise jump but recovery unclear TOKYO: Japan's September factory production posted its biggest rise in eight months, official data showed Wednesday, but the news failed to dispel doubts about the strength of the wider economy following a recent string of weak figures.Industrial production rose 2.7 percent on-month, reversing a drop of 1.9 percent in August, the Ministry of Economy, Trade and Industry said.That reading beat the median market forecast of a 2.2 percent rise and is the highest rise since ...
Sri Lanka must generate more revenue for fiscal consolidation: IMF COLOMBO: Sri Lanka needs to target higher revenue and simplify its tax system to meet its fiscal consolidation goal instead of squeezing expenditure, the International Monetary Fund (IMF) said late on Monday.The country's 2015 budget, unveiled by President Mahinda Rajapaksa on Friday, spelt out plans to cut the budget deficit to 4.6 percent of its gross domestic product (GDP) next year from an estimated 5 percent this year.Rajapaksa, who is also the country's finance minister, ...
China's Q3 property loans fall 23pc qtr/qtr as market cools BEIJING: Banks' lending to China's property sector fell 23.3 percent in the third quarter from the previous three months, Reuters calculations from central bank data showed on Tuesday, another sign of cooling momentum in the housing market.Chinese banks lent 570 billion yuan ($93.24 billion) to home buyers and property developers between July and September this year, easing from the second quarter's 743 billion yuan and down 5 percent from a year ago.Reduced demand for property ...
Taiwan Q3 GDP growth seen 3.7pc vs 3.74pc in Q2 TAIPEI: Taiwan's economy is forecast to expand at an annual 3.7 percent in the third quarter from a year ago, barely changed from 3.74 percent seen in the second quarter, a Reuters poll showed.The gross domestic product growth forecast for the July-September quarter is based on the median figure of 13 analysts surveyed by Reuters.Friday's preliminary GDP figure issued by Taiwan's statistics agency will be followed by revised figures two to three weeks later, with ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
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MonthlyJuly-June
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WeeklyOctober 27, 2014
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