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China rate cuts just the start as growth slows BEIJING: Factory employment has been falling for more than a year in the workshop of the world as Chinese growth slows, and analysts expect more intervention by the central bank after its second interest rate cut in just three months.The weekend's rate reduction comes as authorities contend with rising deflationary threats in the world's second-largest economy and an unusually weak currency.Communist Party leaders are seeking to prevent the growth deceleration from careening out of control.Gross domestic product (GDP) expanded 7.4 percent last year, its slowest pace in 24 years, and recent indicators show signs the slowdown is continuing.Slack manufacturing -- including employment declines in the sector according to surveys for banking giant HSBC -- consumer inflation plunging to its lowest in five years, three years of factory price deflation and a drop in the yuan currency have also sounded alarm bells. The tightly controlled yuan extended declines after the rate ...

India sets inflation target in monetary policy overhaul MUMBAI/NEW DELHI: India has formally adopted inflation targeting, a historic monetary policy overhaul that marks a victory for Reserve Bank of India Governor Raghuram Rajan, as the government makes subduing chronically volatile prices a priority.In a document dated Feb. 20 but published on the ministry website on Monday, the government and the central bank agreed to set a consumer inflation target of 4 percent, with a band of plus or minus 2 percentage points, from ...
India's ‘less aspiring’ fiscal consolidation negative for ratings: Fitch MUMBAI: India's budget could have been more ambitious on the fiscal front given the country's high public debt burden, Fitch Ratings said on Monday, two days after the finance minister announced plans to prioritise growth over painful reforms.Fitch welcomed India's efforts to press on with structural reforms and a push to resolve bottlenecks that have held up major infrastructure projects, but it said the "less aspiring" fiscal consolidation strategy was negative for ratings.Indian Finance Minister ...
Italy Feb state sector budget deficit 7.2bn euros ROME: Italy posted a state sector budget deficit of 7.2 billion euros ($8.05 billion) in February, compared with a deficit of 12.7 billion euros in the same month last year, the Treasury said on Monday.The Treasury said the narrower deficit was due to higher tax receipts compared with February 2014, when less tax revenue was booked due to differences in the repayment calendar.Lower interest payments on public debt also helped reduce the deficit, the Treasury ...
White House says Netanyahu's speech should not complicate Iran talks WASHINGTON: The White House said on Monday that Israeli Prime Minister Benjamin Netanyahu's address to the U.S. Congress scheduled for Tuesday is unlikely to complicate ongoing nuclear talks with Iran."It shouldn't, and it's because the international community is united as we continue to pursue a diplomatic resolution to the international community's concerns with Iran's nuclear program," White House spokesman Josh Earnest told reporters in a briefing.Copyright Reuters, 2015 ...
Weak US consumer spending points to slower first-quarter growth WASHINGTON: US consumer spending fell for a second straight month in January as households continued to cut back on purchases, opting to save much of the massive windfall from cheaper gasoline.Other data on Monday showed factory activity slowed in February and construction spending declined sharply in January, adding to signs that economic growth moderated early in the first quarter."Growth is slowing in the first quarter after a strong second half of last year. All the ...
Brazil reports record trade gap for February as export prices drop BRASILIA: Brazil posted its biggest trade deficit ever for the month of February as prices of key exports continued to drop, government data showed on Monday.Brazil recorded a trade deficit of $2.842 billion in February, wider than the gap of $2.2 billion expected by nine analysts surveyed by Reuters. It is the biggest deficit for that month in a historical series that began in 1980.A plunge in the price of key exports such as iron ...


Index Closing Chg%
Arrow DJIA 18,096.90 0.58
Arrow Nasdaq 4,967.14 0.26
Arrow S&P 2,098.53 0.44
Arrow FTSE 6,919.24 0.44
Arrow DAX 11,390.38 0.98
Arrow CAC-40 4,917.35 0.99
Arrow Nikkei 18,703.60 0.59
Arrow H.Seng 24,465.38 0.96
Arrow Sensex 29,380.73 0.72

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln