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Fed divided over QE duration: minutes  WASHINGTON: Federal Reserve policymakers were divided over how long the central bank should continue asset purchases to support the economy, the minutes of their last meeting showed Thursday.   The Federal Open Market Committee, at a December meeting, approved open-ended quantitative easing, but some thought the purchases should continue until the end of 2013 while others thought they should end sooner, according to the minutes.   The FOMC agreed at the meeting to launch a new, open-ended $45 billion a month program of buying longer-term Treasury securities to replace the bond-swap Operation Twist program that was to expire at year-end.   The panel also continued its QE program for mortgage-backed securities at a pace of $40 billion per month, as well as other measures aimed at pushing down long-term interest rates to encourage investment.   The minutes of the December 11-12 meeting highlighted the climate of uncertainty the central bankers saw in the economy and about the effectiveness ...

Turkish inflation falls but core prices a worry  ISTANBUL: Turkish inflation fell in December to its lowest year-end level since central bank price targeting began but pressure on core prices increased, limiting the bank's room to ease monetary policy further.   The consumer price index rose 6.16 percent year-on-year, its lowest in 15 months and down sharply from 10.45 percent a year ago, Turkish Statistics Institute data showed on Thursday.   "Inflation was in line with central bank expectations and it will not cause a change in ...
German unemployment rises in December FRANKFURT: Unemployment in Germany increased slightly in December, but the country's labour market seems to be holding up comparatively well to the eurozone debt crisis, official data showed on Thursday.   The jobless rate, in raw or unadjusted terms, rose to 6.7 percent in December from 6.5 percent in November.   But the seasonally-adjusted jobless total -- which irons out seasonal fluctuations -- was unchanged at 6.9 percent, the Federal Labour Agency said in a statement.   In concrete terms, the ...
Spain says jobless queue shrinks in December MADRID: Spain's jobless queue shrank in December but numbers were still up sharply over the past year of biting recession, hovering near five million people, government figures showed Monday.   The number of people registered as unemployed in the eurozone's fourth-biggest economy fell by 59,094, or 1.2 percent, to 4.85 million in the month to December, the Labour Ministry said.   Over the year, however, the ranks of jobless surged by 426,364 people, or 9.64 percent.   When adjusted to smooth ...
China property tycoon blames government for prices  BEIJING: A Chinese property tycoon blamed a government "land famine" for high property prices -- which the authorities have long sought to rein in -- after he paid 1 billion yuan ($160 million) for a plot in Beijing.   Ren Zhiqiang, a prominent real estate tycoon, paid the mammoth price for development land in a suburb of the capital before turning to Weibo, China's version of Twitter, where he has 13 million followers.   "For fear of sky-high prices, ...
Food prices push German inflation above ECB ceiling  BERLIN: Germany's annual inflation rate rose for the first time in fourth months in December on increases in food and package holiday prices, breaching the European Central Bank's target threshold for the broader euro zone of 2 percent.   Compared to the prior year period, prices increased 2.1 percent in the final month of 2012, preliminary data from the Federal Statistics Office showed. On the month, consumer prices rose 0.9 percent.   Economists surveyed by Reuters had been expecting ...
Argentina BUENOS AIRES: Argentina's tax revenue rose 26 percent in 2012 from a year earlier to 679.80 billion pesos ($138 billion), the government said on Wednesday.   The AFIP tax agency said December's revenue rose 27 percent from the same month a year earlier to 62.22 billion pesos, beating expectations for income of 61.21 billion pesos in a Reuters poll.   Center>Copyright Reuters, 2013 ...


Index Closing Chg%
Arrow DJIA 16,614.81 1.31
Arrow Nasdaq 4,419.48 2.40
Arrow S&P 1,941.28 1.96
Arrow FTSE 6,372.33 1.68
Arrow DAX 8,886.96 1.94
Arrow CAC-40 4,081.24 2.25
Arrow Nikkei 14,804.28 2.03
Arrow H.Seng 23,088.58 0.08
Arrow Sensex 26,575.65 0.55

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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 20, 2014
Reserves $13.436 bln