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Philippine October inflation to ease, no more rate cuts seen  MANILA: Philippine annual inflation probably eased in October as a strong peso dampened imported food and crude oil prices, lessening the chances of further interest rate cuts by the central bank in the near term.   The consumer price index may have risen by 3.5 percent in October from a year earlier, a Reuters poll of 12 economists showed, slightly slower than a 3.6 percent climb in September.   Core inflation, which strips out some of the more volatile components including food, likely was steady at 3.8 percent from September, the same poll showed.   "Inflation is expected to remain contained given the peso's strength against a backdrop of slightly higher service sector costs," said Prakriti Sofat, regional economist at Barclays Capital.   The central bank cut its key policy rate for a fourth time this year on Oct. 25 to a record low of 3.5 percent to help manage surging capital inflows.   It expects annual headline inflation to ...

Palm slips as high exports may do little to cut stocks  KUALA LUMPUR: Malaysian palm oil futures inched down on Wednesday as the strongest exports recorded for this year may do little to cut into high stocks at a time when output is surging in the world's second largest producer of the edible oil.   Cargo surveyor Intertek Testing Services data showed that Malaysian palm oil shipments climbed 10.9 percent to 1.6 million tonnes -- the highest this year, although stocks are set to hit another record beyond ...
Taiwan cuts 2012 growth forecast again after modest Q3 pick up  TAIPEI: Taiwan cut its 2012 growth forecast for a ninth time in just over a year on Wednesday as Europe's ongoing woes, concerns over the US economy and China's slowdown kept third-quarter growth below forecasts, but bright spots indicate the economy may have bottomed out.   The economy grew a preliminary 1.02 percent in the third quarter of 2012 year-on-year, the statistics agency said, below the median forecast in a Reuters poll for 1.55 percent growth, and ...
Sandy PARIS: Hurricane Sandy, which hammered New York again on Tuesday, has had an economic impact well beyond the limits of its already impressive physical size, with European stock and oil markets, airlines and insurance companies all affected.   "When New York is closed, there is roughly 40 percent less volume in Paris," said stock trader Yves Marcais at Global Equities.   "The real engine is still Wall Street," he added as trading in New York was suspended for a ...
Chile posts Q3 fiscal deficit of 0.3pc of estimated GDP  SANTIAGO: Chile posted a fiscal deficit of 0.3 percent of estimated gross domestic product, equivalent to some $882 million, for the third quarter, the nation's budget office said on Tuesday.   The world's top copper producer accumulated a fiscal surplus of 1.7 percent of estimated 2012 GDP, equivalent to $4.543 billion, for the January through September period.   Copyright Reuters, 2012 ...
Tunisia tenders to buy 100,000 tonnes milling wheat  HAMBURG: Tunisia's state grains agency has issued a tender to purchase 100,000 tonnes of soft milling wheat, European traders said on Tuesday.   The origin was optional.   The bidding deadline was Wednesday, Oct. 31.   It was sought for shipment between December, 2012, and January 2013, depending on origin.   Copyright Reuters, 2012 ...
UAE govt approves 2013 federal budget, no deficit  DUBAI: The United Arab Emirates government approved a 2013 federal budget with expenditure of 44.6 billion dirhams ($12.1 billion) and no deficit, Prime Minister Sheikh Mohammed bin Rashid al-Maktoum said on Tuesday.   "There was a meeting of the Council of Ministers.   We approved the draft budget for 2013 with total spending of 44.6 billion dirhams, without a deficit," Sheikh Mohammed, who is also Dubai's ruler, wrote on his official Twitter account.   "The government's plan over the coming three ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 25, 2014
Reserves $13.925 bln