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South Africa's economy grows 0.7 percent in third quarter PRETORIA: South Africa's economy grew by 0.7 percent in the third quarter of 2015 after contracting 1.3 percent in the three months to June, Statistics South Africa said on Tuesday, as Africa's most industrialised economy avoided a technical recession.Stats S.A. said gross domestic product expanded by 1 percent on an unadjusted year-on-year basis in the third quarter, compared with 1.2 percent growth in the previous three months.Economists polled by Reuters had expected a quarter-on-quarter increase of 1.1 percent and while GDP was seen rising 1.3 percent year-on-year.Copyright Reuters, 2015 ...

VW says it has fixes for 90% of emissions scandal cars in Europe BERLIN: German auto giant Volkswagen, mired in a massive emissions cheating scandal, said Monday that it has found technical solutions for more than 90 percent of the vehicles affected in Europe.The recall process is now viable "technically, financially and in terms of manpower. This is good news," chief executive Matthias Mueller said."For over 90 percent of the Europe group's vehicles, solutions are now confirmed," he told around a thousand VW executives at the company's headquarters ...
TransAlta Renewables to invest C$540 mln in TransAlta Corp projects CALGARY: Canadian renewable energy company TransAlta Renewables said on Monday it would invest C$540 million ($404 million) in three projects in Ontario and Quebec belonging to its majority-owner TransAlta Corp.The assets are TransAlta's Sarnia cogeneration plant and Ragged Chute hydro facility in Ontario, and the Le Nordais wind farm in Quebec. Together, they generate about 611 megawatts of power.TransAlta Renewables' investment will involve acquiring securities that track the profits of the three assets.It has entered ...
Colombia to create holding company of state-owned businesses BOGOTA: Colombia will create a holding company of state-owned businesses in a bid to increase transparency and as a step toward membership in the Organization for Economic Cooperation and Development (OECD), President Juan Manuel Santos said on Monday.As the first phase of the plan, cabinet ministers will cease to serve on the boards of state-owned oil company Ecopetrol and electricity companies Isagen and ISA, three of 111 businesses which belong to the state."Eventually all state ...
US existing-home sales fall in October WASHINGTON: Sales of existing US homes cooled in October after a September surge as the housing market trends higher at a modest pace, a real-estate industry group reported Monday. Fewer people were buying single-family homes, the core of the US housing market, driving the pullback in October sales, the National Association of Realtors said."New and existing-home supply has struggled to improve so far this fall, leading to few choices for buyers and no easement of ...
Bolivia says state spending to keep 2016 GDP growth flat at 5pc LA PAZ: Bolivia's economy will grow by an estimated 5 percent next year, powered by $8.2 billion in public investment, according to the government's budget proposal submitted to Congress on Monday.Bolivia expects gross domestic product (GDP) to expand by 5 percent this year as well. Inflation is expected to be 5.3 percent in 2016, according to the budget bill, down from an estimated 5.5 percent this year. "We are betting on public investment to be ...
Congress should act to prevent more tax inversions: White House WASHINGTON: The White House declined to comment on Pfizer's acquisition of Allergan, the biggest-ever tax inversion deal, but said Congress should take legislative action to prevent deals where companies lower their taxes by reincorporating overseas. White House spokesman Josh Earnest on Monday told reporters the Treasury Department has tried to discourage tax inversions with a series of administrative actions, and said the pace of deals has slowed because of those actions. Copyright Reuters, 2015 ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln