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Moody's sees global sovereign ratings stabilising next year LONDON: Moody's expects sovereign credit ratings to stabilise next year as world growth slowly picks up, although uncertainty about U.S. interest rate rises tops a list of four global risks.Moody's said its global sovereign credit outlook was "broadly stable" for the first time in several years during which debt problems blighting Europe and a commodity boom that lifted producer economies brought a sharp divergence in trends.Nearly 80 percent of Moody's sovereign ratings now carry stable outlooks, up from 70 percent at the start of the year, meaning the rating agency does not expect to change them in the medium-term. Thirteen percent have negative outlooks, down from 22 percent in January, while roughly 7 percent of sovereign ratings carry a positive outlook."Our global sovereign outlook for 2015 is broadly stable -- a change from the diverse global trends seen in recent years," Moody's said. "We expect that the gradual global recovery ...

Canada house price rises, new construction to slow TORONTO: Canadian house price rises are expected to slow in 2015 after another strong year and homebuilding will gradually cool from elevated levels, but a property market crash still looms as a risk, according to a Reuters poll.The survey of 23 forecasters found that while most said Canada's house prices were higher than they should be, medians suggest they will still rise 5.2 percent this year before higher mortgage rates and unaffordability slows the market.Despite ...
US housing seen steady in early 2015; price gains slower WASHINGTON: US home sales will grow moderately in early 2015 before picking up the pace as a sharp slowdown in price rises and a strengthening labor market draw in potential buyers, economists in a Reuters poll predicted.Housing activity is gradually regaining ground after stalling in the second half of 2013 following a run-up in mortgage rates. But sales remain constrained by very slow household formation."Housing is improving, but it is not nearly as good a ...
Canada Sept retail sales surge, may prompt GDP rethink OTTAWA: A surge in the auto sector helped retail sales in Canada to power ahead by 0.8 percent in September, a stronger-than-expected result that may cause analysts to boost their projections for gross domestic product (GDP).Statistics Canada said on Tuesday that retail sales were unchanged, excluding motor vehicle and parts dealers, whose sales rose 3.4 percent. The auto sector represents one-quarter of overall retail sales.The median forecast in a Reuters survey of economists was for ...
Russian economy to grow by 0.7-0.8 percent this year: minister MOSCOW: Russia's economy is likely to grow by 0.7-0.8 percent in 2014 but next year's 1.2 percent growth forecast may have to be revised, Economy Minister Alexei Ulyukayev said.In an interview with German newspaper Frankfurter Allgemeine Zeitung published on Tuesday, Ulyukayev defended Russian economic policy, blaming external factors such as the events over Ukraine for starting what he called an "avalanche".The ministry has officially forecast growth of 0.5 percent this year but ministry officials say ...
US third-quarter growth revised higher on consumer, business spending WASHINGTON: US economic growth was far stronger than initially thought in the third quarter, pointing to strengthening fundamentals that should support the economy for the rest of the year.The Commerce Department on Tuesday raised its estimate of gross domestic product to a 3.9 percent annual pace from the 3.5 percent rate reported last month, reflecting upward revisions to business and consumer spending, as well as restocking.Spending on residential construction also was raised, helping to offset ...
China's Oct gold imports from Hong Kong jump m/m SINGAPORE: China's net gold imports from main conduit Hong Kong rose to 77.628 tonnes in October from 68.641 tonnes in September as the world's biggest consumer saw strong demand for jewellery and bars. Total imports from Hong Kong to the mainland rose to 111.409 tonnes last month from 91.745 tonnes in September, according to data e-mailed to Reuters by the Hong Kong Census and Statistics Department. Copyright Reuters, 2014 ...

 



 
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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