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Thailand avoids recession with 0.9pc Q2 growth BANGKOK: Thailand dodged recession as its economy grew 0.9 percent in the second quarter, data showed Monday, after the military ended months of political deadlock with a coup and promised to unshackle state spending.Between April and June the economy grew 0.9 percent after shrinking a revised 1.9 percent in the first quarter, the National Economic and Social Development Board reported.The junta, under coup-leading Army Chief Prayut Chan-O-Cha, has pegged its legitimacy to improving the economy after months of political protests paralysed government spending, scared off tourists and battered consumer spending.Since seizing power on May 22, Prayut has opened state coffers -- kick-starting stalled investment projects and paying debts to rice farmers to help spur agriculture.On a year-on-year basis, the economy grew 0.4 percent after contracting by 0.6 percent in the earlier quarter, NESDB said.Despite the positive momentum, the board trimmed its growth outlook for 2014, forecasting 1.5-2.0 percent expansion, down ...

Thailand avoids recession in Q2, but doubts on recovery pace remain BANGKOK: Thailand avoided recession in the second quarter, though doubts remain about how robustly it can recover after the army stepped in to end political unrest and seek to lift a stumbling economy. Southeast Asia's second largest economy grew 0.9 percent in April-June on a seasonally-adjusted basis from the previous quarter as private and government spending and exports improved, the state planning agency said on Monday. The central bank believes there can be a strong ...
Russian food embargo smells like opportunity for LatAm SAO PAULO: Russia's embargo on US and EU food products has opened a window of opportunity for Latin America, which could capitalize on the Ukraine crisis to become a major food supplier to Moscow.Furious over the sanctions Western countries have imposed on Russia over its support for Ukraine's separatist rebels, the Kremlin announced on August 7 it was placing a "full embargo" on most food imports from the United States and European Union.That could enable ...
Egypt tourism revenue drops by 24.7pc CAIRO: Egypt's tourism revenue dropped by 24.7 percent to around $3 billion in the first half of 2014, the Ministry of Tourism said in a statement.Tourism has been hammered since the popular uprising that toppled autocrat Hosni Mubarak in 2011. It suffered another blow in February when a coach carrying Korean tourists was bombed by Islamist extremists.The bus carrying Korean tourists was bombed near Taba in southern Sinai, not far from an Israel border crossing ...
Peru's economy grew 0.3pc in June vs year ago LIMA: Peru's economy expanded 0.3 pct in June from the same month a year ago, the slowest pace of growth in nearly five years and well below market expectations as mining and manufacturing contracted, the government said on Friday. A Reuters poll this week had forecast a 1.5 percent expansion in June. The official result marked a sharp slowdown from the 6.1 percent surge in June of 2013 and was the weakest monthly growth since ...
Hong Kong cuts 2014 forecast as Q2 growth slows to 1.8pc HONG KONG: Hong Kong Friday cut its economic growth forecast for 2014 after an unexpected slowdown in second quarter expansion blamed on a fall-off in tourist spending and a slowdown in domestic demand.Gross domestic product grew 1.8 percent in the three months ending June 30 compared to the same period last year, the lowest since 2012, a government statement said.The result falls short of a forecast by five economists polled by the Wall Street Journal, ...
China issues draft property registration rules BEIJING: China on Friday published a draft of long-awaited property registration rules, a move expected to stabilise the real-estate market and help crack down on corruption.Real estate taxes based on a national registration system of property ownership are regarded as an effective way to curb speculation, as the government seeks to rein in years of surging house prices -- a source of resentment for ordinary Chinese. The system is also expected to act as an ...


Index Closing Chg%
Arrow DJIA 16,979.13 0.35
Arrow Nasdaq 4,526.48 0.02
Arrow S&P 1,986.51 0.25
Arrow FTSE 6,755.48 0.35
Arrow DAX 9,314.57 0.21
Arrow CAC-40 4,240.79 0.32
Arrow Nikkei 15,454.45 0.03
Arrow H.Seng 25,159.76 0.15
Arrow Sensex 26,314.29 0.40

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln