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German exporters see 2015 growth, expect more Russia sanctions BERLIN: German exports will likely grow by 4 percent in 2015 if no new global conflicts emerge, even though Western economic sanctions against Russia are likely to last a long time and may expand further, Germany's BGA exporters' group said on Wednesday.Germany is Russia's biggest trading partner in the European Union, which along with the United States has imposed financial and economic sanctions against Moscow this year over its backing for pro-Russian separatists in eastern Ukraine.German exports to Russia fell 16.6 percent to 20.3 billion euros in the January-August period and are expected to fall even more steeply in 2014 as a whole."The sanctions will be in place for a long time, we won't get rid of them," said BGA President Anton Boerner. "Rather they will likely get tougher."He said German companies had already lost about a third of their business with Russia and added that decline was expected to ...

Brazil's jobless rate falls to 4.7 percent in October RIO DE JANEIRO: Brazil's unemployment rate fell unexpectedly in October despite widening layoffs in manufacturing and construction, in welcome news for President Dilma Rousseff's plan to shore up public finances without painful economic adjustments.Brazil's non-seasonally adjusted jobless rate fell to 4.7 percent in October from 4.9 percent in September, statistics agency IBGE said on Wednesday. The number was below the median forecast of 4.9 percent in a poll of 28 economists.It was the lowest unemployment ...
US mortgage applications rise in the latest week: MBA NEW YORK: Applications for US home mortgages rose last week as interest rates edged lower, an industry group said on Wednesday.The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, gained 4.9 percent in the week ended Nov. 14.The MBA's seasonally adjusted index of refinancing applications rose 0.9 percent, while the gauge of loan requests for home purchases, a leading indicator of home sales, ...
UK real earnings sink to decade-low but some see pay pick up LONDON: British workers' real earnings fell to levels not seen in more than a decade in the 12 months to April but there were also signs of above-inflation wage growth for many employees, a broad survey of incomes showed.Adjusted for inflation, weekly earnings dropped by 1.6 percent, the Office for National Statistics said, figures that the opposition Labour party said showed the failure of the government's economic record.Inflation-adjusted earnings have fallen every year since 2008 ...
South Africa holds inflation rate at 5.9pc JOHANNESBURG: South Africa's headline inflation rate remained unchanged in October at 5.9 percent, slightly below the central bank's ceiling of six percent, official data showed on Wednesday.Statistics South Africa said prices had increased by a small fraction of a percent between September and October.Economist said inflation was likely to remain contained in the coming months, on the back of lower commodity prices."The volatile rand though does pose an inflation risk and we might start seeing ...
India needs to step up reforms to spur growth: OECD NEW DELHI: India's economy is coming out of its worst slowdown in a quarter-century, but needs major structural reforms if it is to return to pre-2011 growth levels, the OECD said Wednesday.The OECD said in its India Economic Survey that annual growth should top 6.5 percent in the coming years, but reducing barriers to manufacturing growth was "critical".India's growth has languished at below five percent for the last two financial years, hit by high interest ...
Risky rewards for China's overseas investment boom BEIJING: China's inexorable economic rise is set to see it become a net global investor after decades of Western money flowing into the country, but analysts warn the change offers risks as well as profits.Chinese oil behemoth CNOOC's $15 billion acquisition of Canada's Nexen, completed last year, was just a fraction of the $625 billion the country has invested abroad, much of it resources driven and also taking in other sectors including agriculture, manufacturing and ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

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