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No more austerity, Greek PM promises ATHENS: Greek Prime Minister Antonis Samaras on Saturday promised his recession-weary nation that there would be "no more austerity measures" as international creditors prolonged an audit of crisis reforms."There will be no more austerity measures," Samaras said in a televised speech to his conservative party's political committee."And as soon as growth sets in, relief measures will slowly begin," Samaras said.But he noted that Greece's ailing economy was "out of intensive care, not out of the hospital."Representatives from the so-called troika of Greece's creditors -- the European Union, the European Central Bank and the International Monetary Fund -- are currently reviewing the steps Greece has taken to meet its multi-billion bailout obligations.Thorny issues that Athens still needs to address include shrinking the number of jobs in the public sector, speed up privatisation plans and recapitalise four of its main banks.The auditors have decided to extend their stay by another week and ...

China inflation hits 10-month high in February BEIJING: Chinese inflation rose more than expected to hit a 10-month high in February, official data showed Saturday, as holiday season spending and rapid credit growth accelerated price rises.Inflation is a key issue for the ruling Communist Party as it brings with it the risk of popular discontent over rising prices and the threat of social unrest.The consumer price index -- a main gauge of inflation -- rose 3.2 percent year-on-year in February, the National ...
Goldman cannot ignore proposal to split chairman, CEO roles   NEW YORK: Goldman Sachs Group Inc lost its battle to ignore an investor proposal to strip Chief Executive Lloyd Blankfein of his chairman role, according to correspondence posted on the US Securities and Exchange Commission's website on Friday.   SEC staff sent a letter to Goldman internal counsel Beverly O'Toole this week, saying the agency is "unable to concur" with Goldman's view that the shareholder proposal does not warrant a vote.   CTW Investment Group, which owns 25 Goldman ...
US spot natgas prices mixed, NY slips ahead of mild weekend   NEW YORK: US spot natural gas prices traded narrowly mixed on Friday, with mild weekend weather forecasts pressuring prices in New York, while the chilly outlook for next week lifted quotes slightly on most Gulf Coast pipelines.   Cold late-winter weather, particularly in the Midwest, has stirred heating demand and helped drive most spot cash prices up nearly 10 percent over the last month.   "Weekend differentials were a little softer, but it looks like there's still enough demand ...
Low Latvian inflation boosts eurozone bid RIGA: Inflation in Latvia stood at 0.3 percent in February on a 12-month basis according to data released Friday, boosting the Baltic state's bid to join the troubled eurozone next year. January's equivalent figure was 0.6 percent. Statistics Latvia partly explained the low inflation level was an 11.3 percent drop in "telecommunication devices" and a 6.6 percent decline in telecommunication service costs. In February compared to January, the average consumer price level decreased by 0.1 percent. Riga insists it ...
Low Latvian inflation boosts eurozone bid RIGA: Inflation in Latvia stood at 0.3 percent in February on a 12-month basis according to data released Friday, boosting the Baltic state's bid to join the troubled eurozone next year.January's equivalent figure was 0.6 percent.Statistics Latvia partly explained the low inflation level was an 11.3 percent drop in "telecommunication devices" and a 6.6 percent decline in telecommunication service costs.In February compared to January, the average consumer price level decreased by 0.1 percent.Riga insists it ...
Hungarian economy still in recession BUDAPEST: Hungary remained in recession in the last quarter of 2012, with the economy contracting for the fourth quarter in a row, data by the national statistics office (KSH) showed Friday. Gross domestic product (GDP) shrank by 0.9 percent from the previous quarter, according to the seasonally- and calendar year-adjusted data.This continued the trend since the beginning of the year, when GDP first contracted by 1.0 percent in January-March, compared to the fourth quarter of ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln