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Major China trade fair export orders hit four-year low BEIJING: Export contracts signed at a major trade fair in China hit their lowest in four years, state media reported, indicating foreign demand for the country's goods is still weak. The value of export deals signed at the China Import and Export Fair reached 194.61 billion yuan ($31.7 billion), the lowest since the depths of the financial crisis in 2009, the official Xinhua news agency said after the event closed Monday.The figure also marked a fall of three percent from the last autumn session and a 10.9 percent decline from the spring session this year, according to a statement on the fair's website.The twice-yearly event -- also called the Canton Fair after the former foreign designation for the southern city of Guangzhou -- was created in 1957 and is the largest trade event in China making it a barometer of the country's foreign trade, Xinhua said."The decrease from both the ...

Italy forecasts 1.8pc GDP drop in 2013 MILAN: Italy worsened its official growth forecast for 2013 on Monday, predicting a shrinkage in gross domestic product (GDP) of 1.8 percent compared to a previous estimate of 1.7 percent contraction.The official Istat agency said it expected the recession -- Italy's longest recession since the Second World War -- to end only in the fourth quarter with a modest uptick in growth.However, it also forecast that the economy will switch into growth, expanding by 0.7 ...
Eurozone manufacturing rallies, despite French PMI drop BRUSSELS: Eurozone manufacturing activity held firm in October despite unexpectedly weak signals from France, a closely-watched survey indicated on Monday.The eurozone manufacturing Purchasing Manager's Index (PMI) compiled by Markit Economics recorded 51.3 points going by final survey results collected from about 3,000 firms.That was unchanged from a first estimate.But France slumped into territory indicating economic contraction in manufacturing, on a four-month low of 49.1 points as against an initial estimate of 49.4.France and Greece were ...
South African economy faces stark problems JOHANNESBURG: South Africa has made strides in mending its economy since the end of apartheid two decades ago but is lagging behind comparable countries and faces momentous challenges, Goldman Sachs warned on Monday.As the Rainbow Nation heads for its 20th birthday next year, the US-based investment bank cautioned that high levels of youth unemployment have scuttled the dreams of millions and must be dealt with.At least seven million people are unemployed, around one in three ...
Business leaders call for Britain to stay in EU LONDON: Britain's biggest employers' group on Monday intensified its campaign to keep the country in a reformed European Union, saying that membership was "overwhelmingly" in the country's interest.The Confederation of British Industry (CBI) said at the start of its national conference that membership was worth between £62 billion ($99 billion, 73 billion euros) and £78 billion, about four to five percent of Britain's total output."We have looked beyond the political rhetoric to examine the pros ...
ECB may soon join the flight of the doves: global economy LONDON: Even as the euro zone economy shows faint signs of stirring, the European Central Bank is likely to send a dovish message this week that more monetary help will be on the way before long. After a plunge in inflation to 0.7 percent in the year to October, well below the ECB's target of just under 2 percent, UBS and RBS are among those who reckon a rate cut could come as ...
Chinese premier warns slowing growth raises job concerns BEIJING: China's slowing growth poses a major challenge to job creation for the world's most populous nation and the country will need to achieve a "golden" balance between structural adjustment and growth, Premier Li Keqiang was quoted as saying on Sunday.China's economy is set to grow at its slackest pace in 23 years in 2013, at 7.5 percent, as its export sales falter on fragile global demand.The country's leaders have pledged deep economic reforms to ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln