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German unemployment hits 24-year low FRANKFURT: German unemployment fell in April to the lowest level in 24 years as the recovery in Europe's biggest economy continues to pick up speed, data showed on Thursday.The number of people registered as unemployed in Germany fell by a seasonally-adjusted 8,000 to 2.792 million, the Federal Labour Office said. That was slightly fewer than expected, as analysts had been pencilling in a decline of around 10,000.The unemployment rate -- which measures the jobless total against the working population as a whole -- stood at 6.4 percent in April, unchanged from March and the lowest level since west and east Germany reunited in 1990 after the fall of the Berlin Wall the previous year. In raw or unadjusted terms, the jobless total decreased by 88,660 to 2.843 million and the jobless rate fell to 6.5 percent in April from 6.8 percent in March, the labour office said.Normally, unemployment declines in ...

Japan factory output down 0.3pc on-month in March TOKYO: Japan's factory output in March fell by a less-than-expected 0.3 percent on-month, data showed Thursday, but the still-weak data underscored an uncertain recovery in the world's number three economy.The reading from Japan's trade ministry marked an improvement from the 3.1 percent drop registered in February, and beat the market median forecast for a 2.3 percent drop in a survey of economists by the Nikkei business daily.But the ministry kept its tepid view on industrial ...
South Korea industrial output slips in March SEOUL: South Korea's industrial output slipped 0.4 percent in March from a month earlier, due to a dip in the production of electronic parts and metal products, government data showed Thursday.Statistics Korea said the March output appeared relatively weak due to a strong showing in February when it grew 2.6 percent on-month, mainly thanks to consumer demand over the Lunar New Year holiday.Increased production of key electronic parts, especially LCD screens, in overseas plants, also ...
Russia to cancel wheat export tax ahead of schedule MOSCOW: Russia will remove a tax on wheat exports ahead of schedule, Deputy Prime Minister Arkady Dvorkovich told reporters on Wednesday. "The duty on grain in its current state may be cancelled even earlier than July 1," Dvorkovich said. Later he said the duty level would be changed to "close to zero or to zero." Dvorkovich said he had asked Russia's agriculture ministry to submit proposals so the duty could be removed by mid-May.Copyright Reuters, ...
Iran's oil exports rise in April after framework nuclear accord LONDON: Iran's crude oil exports have risen in April following softer sales last month, helped by a framework nuclear agreement between Tehran and world powers and the possibility that Western sanctions could be lifted soon. Iran, once OPEC's second-largest producer after Saudi Arabia, hopes to boost crude exports by as much as 1 million barrels per day (bpd) if Tehran and six major powers finalise a nuclear agreement by a June 30 deadline. The sides ...
German inflation creeps higher in April: data FRANKFURT: Inflation in Germany, Europe's biggest economy, crept higher in April with consumer prices rising by 0.4 percent year-on-year, preliminary data showed on Wednesday. The previous month, the consumer price index had risen by 0.3 percent on a 12-month basis, the federal statistics office Destatis said in a statement.Using the Harmonised Index of Consumer Prices (HICP) -- the yardstick used by the European Central Bank -- inflation in Germany rose by 0.3 percent percent year-on-year ...
Thai finance ministry trims 2015 GDP growth forecast to 3.7pc BANGKOK: Thailand's finance ministry trimmed its economic growth forecast this year to 3.7 percent from 3.9 percent seen three months ago due mainly to weak exports, a ministry official said on Wednesday.The ministry now expects exports to grow only 0.2 percent this year, compared with 1.4 percent seen in January, Kritsada Jinavijarana, director-general of the Fiscal Policy Office, told a news conference.He said the economy may have grown 3.2 percent in the first quarter from ...


Index Closing Chg%
Arrow DJIA 17,841.98 0.48
Arrow Nasdaq 4,919.65 0.40
Arrow S&P 2,080.15 0.45
Arrow FTSE 6,933.74 0.09
Arrow DAX 11,350.15 0.20
Arrow CAC-40 4,981.59 0.15
Arrow Nikkei 19,531.63 0.06
Arrow H.Seng 27,640.91 0.41
Arrow Sensex 26,717.37 2.63

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 04, 2015
Reserves $17.491 bln