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Italy to privatise postal service in early 2015: Treasury official MILAN: The Italian government will privatise the state-owned postal service early in 2015, a Treasury official said on Thursday, missing an initial deadline of carrying out the sale by the end of this year."Italy is looking to privatise some of Italy's major companies such as (postal service) Poste and (railways company) Ferrovie Italiane," said Fabrizio Pagani, head of office of Italy's Finance Minister, Pier Carlo Padoan."The privatisation of Poste will not happen this year, since we have some regulatory issues to tackle, but it is due early next year," he added.Pagani also said the government is working on selling assets in local utilities and real estate sectors.The Treasury had hoped to raise about 11 billion euros, equal to 0.7 percent of Italy's 1.6 trillion euro GDP, every year by selling stakes in companies, but market volatility has put a brake on the government's plans.Copyright Reuters, 2014 ...

Cheaper oil no big threat to Gulf economies, a boon for North Africa DUBAI: Falling oil prices may prove the best medicine for economies in the Arab world, rebalancing growth towards countries struggling to recover from the Arab Spring uprisings without doing major damage to the oil exporters of the Gulf.The price of Brent crude has sunk by nearly $20 from its June peak to as low as $96 a barrel in recent weeks, its lowest level since mid-2012. Behind the drop is soft economic data from top ...
Sri Lanka eyes 8.2pc growth, 4.4pc fiscal deficit in 2015 COLOMBO: Sri Lanka is aiming for a higher economic growth of 8.2 percent and a lower fiscal deficit target of 4.4 percent of gross domestic product (GDP) next year, a government document showed on Thursday.A cabinet paper submitted by President Mahinda Rajapaksa, who is also the finance minister, showed that the $67-billion economy is expected to clock higher growth in 2015 than this year's estimated 7.8 percent expansion, while fiscal deficit is seen to be ...
Italy may further lower 2014 gross debt issuance goal MILAN: Italy may further lower its gross issuance target for the year after already cutting it by some 10 billion euros to around 460 billion euros, the head of the country's debt management office said on Thursday.Maria Cannata said Italy had nearly always managed to sell bonds for more than their face value this year enabling the state to book savings of "approximately 10 billion euros".The full-year figure may fall further as Italy is using ...
Saudi July oil exports steady, power use offsets higher output DUBAI: Saudi crude exports remained steady in July as oil use in the country's power sector surged to a near record high, offsetting higher output, official data showed on Thursday. The world's top oil exporter and OPEC heavyweight shipped 6.989 million barrels per day (bpd) in July, slightly up from 6.946 million bpd in June and 6.987 million bpd in May, according to data published by the Joint Organisations Data Initiative (JODI). The export figures ...
NZ economy slows in Q2, annual rate growth at decade high WELLINGTON: New Zealand's economy grew more slowly in the second quarter, suggesting the near decade-high annual rate is the peak of the current cycle, allowing the central bank to sit on the sidelines for an extended period. The economy grew a seasonally adjusted 0.7 percent in three months to June 30, taking the annual rate to 3.9 percent, the fastest since second quarter 2004, Statistics New Zealand figures showed on Thursday.The South Pacific economy has ...
Japan trade deficit narrows 2.4pc on-year in August: govt TOKYO: Japan's trade deficit narrowed 2.4 percent on-year to $8.7 billion in August largely due to shrinking energy bills that had soared in the wake of the Fukushima crisis, official data showed Thursday.The country's deficit stood at 948.5 billion yen against the year-before shortfall of 971.4 billion yen, the finance ministry said.The data, although better than the market median forecast of a 1,028 billion yen deficit, extended the run of shortfalls to a 26th straight ...


Index Closing Chg%
Arrow DJIA 17,279.74 0.08
Arrow Nasdaq 4,579.79 0.30
Arrow S&P 2,010.40 0.05
Arrow FTSE 6,837.92 0.27
Arrow DAX 9,799.26 0.01
Arrow CAC-40 4,461.22 0.08
Arrow Nikkei 16,321.17 1.58
Arrow H.Seng 24,306.16 0.57
Arrow Sensex 27,090.42 0.08

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln