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Japanese companies doing more firing than hiring: report TOKYO: More than half of Japanese who are laid off will still be out of work a year later, an international report said Monday, adding firms must be more flexible if Japan's economy is to improve.The findings come as Japanese Prime Minister Shinzo Abe embarks on his third year in power, after pledging to awaken the country's long-slumbering economy, in part by cutting red tape.Around 1.4 percent of workers lose their jobs each year, with older, less educated employees and those on temporary contracts at highest risk of remaining jobless, the Organisation for Economic Co-operation and Development (OECD) said in a report on Japan's labour market."A significant fraction of Japanese workers are laid off each year and then face long periods of joblessness before finding work, often at much lower wages," the OECD said.On average between 2002 and 2013 only 48 percent of those who are retrenched found a new ...

India to boost public spending on infrastructure NEW DELHI: India will increase public spending on infrastructure, Finance Minister Arun Jaitley said on Monday.The Indian government estimates the country needs to spend $800 billion on infrastructure to grow 7 percent per annum, sharply higher than around 5.5 percent projected by the central bank for the current fiscal year that ends in March.Concerned over slow economic growth, some government aides are also pushing to row back on fiscal deficit targets when Jaitley announces the ...
Cheaper oil to boost British economy: report LONDON: British economic growth could be stronger than expected this year, boosted by lower oil prices and flat inflation that will encourage consumers to spend, according to an influential report published Monday.The EY ITEM Club's winter forecast predicted gross domestic product growth of 2.9 percent in 2015 -- higher than its previous estimate and stronger than the government's prediction of 2.4 percent.The report said lower oil prices would keep inflation at near zero in 2015, ...
Copper plays surprise role in Zambia presidential vote LUSAKA: A controversial decision to hike mining royalties in copper-rich Zambia has not only spooked investors but has become an unlikely presidential election issue in one of Africa's two biggest producers.Zambia tripled mining royalties to 20 percent from six percent on January 1, putting the government at loggerheads with mining firms already buckling under a fall in global commodity prices."How can any knowledgeable government in today's world impose a tax like that?" a leading opposition ...
Russian government takes flak as it fails to stem economic crisis MOSCOW: Faced with a crippling recession, Russian authorities are coming in for growing criticism from economic insiders concerned over a lack of clear policies to deal with the crisis.After a year that saw growth slump and the ruble nosedive on the back of falling oil prices and Western sanctions over Ukraine, officials have predicted that Russia's economy will contract by some five percent in 2015. As government income shrinks, the overall rate of inflation also ...
Madagascar's economy shows signs of recovery, needs reforms: IMF ANTANANARIVO: Madagascar's economy showed early signs of recovery in 2014 with growth estimated at 3 percent, which could rise to 5 percent in 2015, but political instability, weak institutions and weak governance are hurting prospects, the IMF said.The Indian Ocean island's economy was battered after a 2009 coup that drove away donors and investors. A peaceful 2013 election has brought back some aid, but the nation is still struggling to impose stable government and economic ...
China Dec new home prices slip, sombre omen for 2014 GDP BEIJING: China's new home prices fell significantly in December for a fourth straight month even as year-end sales volumes surged, a sombre omen for fourth-quarter 2014 economic growth data due out later in the week.Sunday's gloomy National Bureau of Statistics' data foreshadowed weak economic figures set for Tuesday, with expansion expected to slow to 7.2 percent, the weakest since the depths of the global financial crisis.Falling property prices are likely to keep pressure on policymakers ...


Index Closing Chg%
Arrow DJIA 17,652.60 0.79
Arrow Nasdaq 4,757.88 0.16
Arrow S&P 2,051.82 0.55
Arrow FTSE 6,832.83 0.53
Arrow DAX 10,649.58 2.05
Arrow CAC-40 4,640.69 1.93
Arrow Nikkei 17,511.75 1.05
Arrow H.Seng 24,850.45 1.34
Arrow Sensex 29,278.84 0.94

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln