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Syria economy 'set back decades' by war BEIRUT: Syria's once-promising economy has been set back more than 30 years by its brutal civil war, economists say, and it may never recover.Squeezed by sanctions and the fallout of the more than three-year-old conflict, the government faces dwindling revenues and is increasingly dependent on aid from key allies Iran and Russia.Inflation is in the double digits, half the population is unemployed and international trade has plummeted."We've lost a decade in terms of human development indicators, and in terms of the economy today, it's back to the size it was in the 1980s," said Bassel Kaghadou, a UN official working on ways to rebuild Syria's society and economy."Syria as it was will never exist again. The economy will be smaller. The population will be smaller," said Kaghadou, programme director of the National Agenda for the Future of Syria.Before the conflict began, Syria had a higher gross domestic product (GDP) than ...

British inflation edges up in October from five-year low LONDON: British inflation edged up in October from a five-year low but prices are expected to weaken again soon, underscoring why the Bank of England is signalling it won't start to raise interest rates until well into next year.Consumer prices rose by an annual 1.3 percent in October, in line with economists' forecasts in a Reuters poll and slightly higher than September's 1.2 percent, the Office for National Statistics said on Tuesday.The pound, which has ...
US producer inflation up, but underlying trend muted WASHINGTON: US producer prices unexpectedly rose in October, but the underlying trend continued to point to a benign inflation environment that could persuade the Federal Reserve to keep interest rates very low a bit longer.The Labor Department said on Tuesday its producer price index for final demand increased 0.2 percent, driven by a jump in prices in the services sector. The PPI had declined 0.1 percent in September.October also saw the introduction of new motor ...
UK inflation picks up slightly in October to 1.3pc LONDON: British inflation picked up slightly in October from a five-year low as fuel prices fell less strongly than a year ago, leaving the Bank of England under no pressure to start raising interest rates.Consumer prices rose by an annual 1.3 percent in October, compared with 1.2 percent in September and in line with economists' forecasts in a Reuters poll, the Office for National Statistics said on Tuesday.The ONS said food and non-alcoholic beverages fell ...
China's home-price fall deepens despite policy support, FDI slips BEIJING: China's home prices fell in October by the most since 2011, Reuters calculations show, in spite of government support measures to try to end a national downturn that threatens to stifle economic growth.Prices last month slumped 2.6 percent from a year earlier, according to the calculations based on nationwide prices reported by the National Bureau of Statistics (NBS).House prices in the capital Beijing dropped 1.3 percent year on year - the first fall since ...
German investor morale rises for first time in almost a year MANNHEIM: German analyst and investor sentiment rose in November for the first time in almost a year, surpassing expectations and raising hopes of an improvement in Europe's biggest economy after it dodged recession in the third quarter.The euro rose to a day high against the dollar and Bund futures reversed gains after the survey was published on Tuesday, although economists warned against reading too much into the rise as the index was still at a ...
British annual inflation rises to 1.3pc LONDON: Britain's 12-month inflation rose unexpectedly in October, rebounding from a five-year low the previous month, lifted partly by the rising cost of computer games, official data showed Tuesday.The annual rate accelerated to 1.3 percent in October from 1.2 percent in September, the Office for National Statistics (ONS) said in a statement. "Smaller falls in transport costs than a year ago -- notably for motor fuels and air fares, and price rises for computer games ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln