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Amnesty slams 'abuse' of migrant workers in South Korea SEOUL: Migrant farm workers in South Korea have become victims of rampant abuse under a "shameful" work permit system that encourages exploitation, Amnesty International said in a report published Monday.The report came on the heels of a mission to South Korea by the UN's special rapporteur on racism, who also cited "serious problems" faced by the growing number of foreign workers hired as low-paid, unskilled manual labourers.The Amnesty report, titled "Bitter Harvest" and based on interviews with dozens of farm workers around the country, painted a picture of intimidation and violence, coupled with excessive working hours and squalid accommodation."The exploitation of migrant farm workers in South Korea is a stain on the country," said Norma Kang Muico, Asia-Pacific Migrant Rights Researcher at Amnesty."The authorities have created a shameful system that allows trafficking for exploitation and forced labour to flourish."If South Koreans were trapped in a similar cycle of abuse, there ...

British economic growth to slow, says leading forecaster LONDON: The British economy will slow down sharply next year due to political uncertainty and a potential referendum on membership of the EU, a leading forecaster said on Monday.In an autumn forecast released after a turbulent week on world markets, EY ITEM Club said gross domestic product growth would slow to 2.4 percent in 2015, after 3.1 percent growth this year.The forecasts are below the Bank of England's outlook of 3.5 percent growth in 2014 ...
Poland trims 2015 fiscal deficit as economy improves WARSAW: Poland plans to cut its fiscal deficit to 2.5 percent of economic output in 2015, from a previously forecast 2.6-2.7 percent, due to an improvement in the economy and spending discipline, a government document obtained by Reuters showed. Poland, the largest economy in central and eastern Europe, is currently under the European Union's excessive deficit procedure - a tool to enforce fiscal discipline - and has been given until 2015 to cut its fiscal ...
Euro zone not heading for recession, says EU's Barroso LONDON: The euro zone is not heading for another recession, the outgoing president of the European Commission Jose Manuel Barroso said on Sunday.Growth in the euro zone economy ground to a halt in the second quarter and weaker-than-expected economic data for the bloc's largest economy, Germany, have raised concerns about the prospects for a recovery."I don't think we are going to come back to recession," he told Britain's BBC television, citing forecasts from the International ...
Canada inflation hits target but how much is temporary? OTTAWA: Canadian inflation settled exactly at the Bank of Canada's target of 2.0 percent in September, with the core rate staying at 2.1 percent, according to Statistics Canada data released on Friday. Bank of Canada Governor Stephen Poloz has said some recent price increases were temporary and so should be ignored, suggesting a lower underlying rate, but for now inflation is at the midpoint of the target range of 1 to 3 percent. "Mr. Poloz ...
Indonesia says it draws $6.4 billion in FDI commitments in Q3 JAKARTA: Commitments for foreign direct investment in Indonesia in July-September were virtually identical with the level pledged in the previous three months, data released on Friday showed.The Investment Coordinating Board (BKPM) said that foreign direct investment (FDI) commitments in July-September were 78.3 trillion rupiah ($6.4 billion), compared with 78 trillion rupiah in April-June.In both periods, the commitments were 16.9 percent higher than a year earlier, in rupiah terms.On a year-on-year basis, FDI growth has been ...
India's Modi unveils reforms to boost manufacturing NEW DELHI: Indian Prime Minister Narendra Modi on Thursday unveiled a string of labour reforms, seeking to fulfil a pledge to boost the country's manufacturing sector.Modi, whose right-wing Bharatiya Janata Party swept to power in May on a mandate to revive India's flagging economy, said he wanted to simplify the byzantine rules and regulations that manufacturing businesses face."We have replaced 16 forms (for factory owners) with one form, which will be available online," Modi said ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln