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Poland says to amend 2015 budget, hike deficit by 3-4bn zlotys WARSAW: Poland's newly sworn-in government said on Friday it will amend this year's budget bill due to lower revenues, increasing the deficit by 3-4 billion zlotys ($745-993 million) "VAT tax revenues for 2015 were as of November 26 lower than estimated in the budget bill by 13.3 billion zlotys," the finance ministry said in a statement. "Other taxes brought in somewhat more revenue than assumed, however the overall gap stands at around 12 billion zlotys." "Assuming natural budget savings at a level from previous years, the amendment will increase the deficit by around 3-4 billion zlotys, with the amount to be specified based on detailed data from ministries." The proposed amendment will be submitted to the government on Dec. 1, and then sent to the parliament, the ministry said. After October, Poland's budget deficit stood at 34.5 billion zlotys. Copyright Reuters, 2015 ...

Brazil to sue BHP, Vale for $5bn in damages for dam burst BRASILIA: Brazil's federal and state governments plan to sue the owners of the Samarco iron ore miner for 20 billion reais ($5.24 billion)in damages caused by the burst of a tailings pond dam, Environment Minister Izabella Teixeira told reporters on Friday. Samarco is a joint venture between the world's largest mining company, BHP Billiton Ltd , and the biggest iron ore miner, Vale SA . The dam burst earlier this month, unleashing 60 million cubic ...
Tanzania suspends tax revenue chief in graft investigation DAR ES SALAAM: Tanzanian authorities suspended Friday the head of the tax revenue authority in a corruption probe, as the new government cracks down on graft in the east African nation.The suspension of Rished Baden came after newly elected Prime Minster Kassim Majaliwa visited the main port in Dar es Salaam, and found 349 shipping containers listed as having arrived in the port had vanished.Senior officials in the revenue authority and customs have also been ...
UK economy slows in third quarter LONDON: Britain's economic growth slowed in the third quarter, official data confirmed on Friday.Gross domestic product (GDP) expanded by 0.5 percent between July and September, the Office for National Statistics (ONS) said in a second estimate, in line with market expectations.That was unchanged from the initial ONS estimate and followed second-quarter growth of 0.7 percent. Copyright AFP (Agence France-Presse), 2015 ...
Greek economy contracts 0.9pc in third quarter: revised data ATHENS: Greece's state statistics agency on Friday drastically revised downwards the economy's third-quarter contraction to 0.9 percent, from 0.5 percent previously."These differences are on account of using new data, not available at the time of the flash estimate," the Elstat agency said, citing a mixture of September balance of payments data, service turnover and jobless figures as factors for the downturn.In an annual comparison, Greek output fell by 1.1 percent from the third quarter of ...
Weak Japan data supplies more bad news for Abenomics TOKYO: Japan on Friday published a string of mostly weak data, the first major figures since news that the world's number three economy had slipped back into recession.A key inflation gauge showed prices fell in October from a year ago, while spending by households also dropped in a double blow for Prime Minister Shinzo Abe's high-profile growth blitz, dubbed Abenomics.The weak figures came despite signs of a tight labour market, with the headline unemployment rate ...
Italy's antitrust opens probe into alleged cement price fixing MILAN: Italy's antitrust authority has opened a probe into four cement makers for alleged price fixing and, with the tax police, has searched the offices of the companies, it said in a statement on Thursday. The companies under investigation include Buzzi Unicem , Cementir Italia, Industria Cementi Giovanni Rossi and Holcim Italia, the watchdog said. "The case concerns the possibility of an agreement to coordinate cement sales price increases," it added. Copyright Reuters, 2015 ...


Index Closing Chg%
Arrow DJIA 17,719.92 0.44
Arrow Nasdaq 5,108.67 0.37
Arrow S&P 2,080.41 0.46
Arrow FTSE 6,356.09 0.30
Arrow DAX 11,382.23 0.78
Arrow CAC-40 4,957.60 0.56
Arrow Nikkei 19,747.47 0.69
Arrow H.Seng 21,996.42 0.33
Arrow Sensex 26,145.67 0.07

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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 30, 2015
Reserves $19.828 bln