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British recession shallower than thought, data shows  LONDON: Britain's recession-hit economy shrank by less than thought in the second quarter compared with output in the first three months of the year, official data showed on Thursday. "UK gross domestic product (GDP) in volume terms decreased by 0.4 percent between the first and second quarter of 2012, revised from a previously estimated decline of 0.5 percent," the Office for National Statistics said. The slightly improved revision matched analysts' consensus forecast. GDP shrank by 0.5 percent in the April-June period compared with the second quarter in 2011, the ONS added in a statement. Many analysts expect Britain to have emerged from recession in the third quarter, or three months to September 30. Markets will have to wait until next month for confirmation. "The economy should rebound in the third quarter," said Vicky Redwood, chief UK economist at Capital Economics research group. "But we still expect the underlying performance of the economy to remain weak ...

India to meet on H2 borrowing plan on Thursday  NEW DELHI/MUMBAI: Officials from India's finance ministry and central bank will meet on Thursday to discuss the government's borrowing plan for the second half of the fiscal year, several sources said, as talk swirls that New Delhi will miss its deficit target. The meeting was scheduled to begin at around 3 pm local time (0930 GMT), they said. Earlier, a source had said the meeting had been deferred to Friday. The government is scheduled to borrow 2 ...
German joblessness rises for sixth month running  BERLIN: German joblessness rose for the sixth month running in September, gaining 9,000 in seasonally adjusted terms but remaining close to a post-reunification low, the Labour Office said on Thursday. The data showed the number of people out of a job rose to 2.911 million in September from 2.902 million in August. The consensus forecast in a Reuters poll of 32 economists was for unemployment to rise by 10,000.  The unemployment rate held steady at 6.8 percent. "Weaker ...
Lending to euro zone private sector falls in Aug  FRANKFURT: Loans to firms and households in the euro zone fell more than expected in August, dragged down by meagre credit flows the euro zone's recession-stricken south. Loans to the private sector fell 0.6 percent from the same month a year ago, data released by the European Central Bank showed on Thursday, coming in below the expectations of economists polled by Reuters for no change.  The flow of loans to non-financial firms fell 10 billion euros after ...
India government preparing new reforms NEW DELHI: India's Finance Minister said Thursday that the government was preparing new economic reforms as it focuses on kick-starting investment in the sharply slowing economy.   After years of policy logjam and corruption allegations, Prime Minister Manmohan Singh's administration burst into life two weeks ago when it announced a sudden blitz of measures to open up the economy and cut subsidies.   Speaking after a meeting of leaders in the left-leaning ruling coalition, Finance Minister P. Chidambaram stressed ...
Philippine Central Bank says sees Sept inflation at 3.4-4.3pc MANILA: Philippine annual inflation in September could, at its worst, accelerate to its fastest in 10 months due to higher fuel prices, but the overall consumer price outlook remains manageable, central bank Governor Amando Tetangco said on Thursday.   The central bank expects annual inflation in September at 3.4 to 4.3 percent, with the top end of the range the highest since November when the rate hit 4.7 percent.   Annual inflation in August was at 3.8 percent.   "This continues ...
China suspends some customs charges to year-end: MOF BEIJING: China said on Thursday it will suspend administrative customs fees for the rest of this year, in a move to help exporters and importers weather the global economic slowdown.   From Oct 1 till the end of 2012, all goods coming in and out of China as well as vehicles carrying them, will be free of inspection and quarantine fees, the Ministry of Finance and the National Development and Reform Commission said in a joint statement.   Meanwhile, China ...


Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
Arrow DAX 9,598.17 0.48
Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln