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S.Africa strikes, current account gap won JOHANNESBURG: Wage strikes in South Africa, coupled with credit rating downgrades and a widening current account deficit do not bode well for inflation, Reserve Bank Deputy Governor Daniel Mminele said on Wednesday.   "Alongside a less favourable outlook for inflation, the domestic growth outlook has deteriorated, not only due to developments in the euro zone and US but intensified further by labour market instability," Mminele said in a speech posted on the bank's website.   Copyright Reuters, 2012 ...

Panama Sept economic growth slows to 7.8pc year/year  PANAMA CITY: Panama's economic growth slowed to 7.8 percent in September compared with the same month last year, the government's statistics office said on Wednesday.   Economic growth in September 2011 was 8.3 percent.   The indicator measures the overall activity of Panama's economy in such sectors as services, manufacturing and utilities and is a rough proxy for quarterly gross domestic product data.   In August, the economy grew by 9.26 percent, much faster than the 6.8 percent originally reported last ...
Obama says letting US taxes rise would hurt world economy  WASHINGTON: President Barack Obama said on Wednesday that failure to avoid looming "fiscal cliff" tax increases would reverberate beyond US borders.   "It would be bad for the economy, it would be bad for those families, in fact it would be bad for the world economy," Obama told reporters at the White House as he met with his cabinet.   Obama and congressional leaders are negotiating over how to avoid approximately $600 billion in tax hikes and spending cuts ...
German inflation slows in Nov to hit ECB target  BERLIN: German inflation eased slightly to 1.9 percent in November, bringing it into line with the European Central Bank's target ceiling for the first time since July and giving it some leeway to cut rates.   Economist said the fall in inflation, helped by lower fuel costs, might also help reassure the German public that the ECB's policies to tackle the euro zone's debt crisis, such as its controversial bond buying programme, did not threaten price stability ...
German prelim inflation slows to 1.9pc in Nov BERLIN: German inflation slowed by 0.1 percentage points to 1.9 percent year-on-year in November, according to preliminary data released on Wednesday, in line with expectations.   On a monthly basis, German prices eased 0.1 percent, after holding steady in October. Monthly falls in the cost of petrol, heating oil and package holidays helped contribute to easing inflation, the statistics office said.   Consumer prices harmonised to compare with other European Union countries showed a monthly fall of 0.1 percent ...
China certain to hit 7.5pc 2012 GDP growth target  BEIJING: China is certain to hit the government's economic growth target of 7.5 percent for 2012 and could even exceed it, Commerce Minister Chen Deming said on Wednesday.   Chen made the comment at a conference, adding that China would likely spend more than $70 billion this year on non-financial outbound direct investment.   "In the first three quarters, China's economy has grown 7.7 percent from a year ago, therefore, it is for certain that we can achieve the ...
Kenya inflation seen close to bottom in November  NAIROBI: Kenya's inflation rate is expected to edge down this month but it may be close to bottoming out after an 11-month dive that has allowed the central bank to slash interest rates.   All but one of the 11 analysts polled by Reuters predicted the year-on-year inflation rate would fall to a consensus forecast of 3.95 percent in November from 4.14 percent last month, laying the ground for another 100-150 basis point cut in official borrowing ...


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