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Brazil central bank cuts GDP growth forecast  BRASILIA: Brazil's Central Bank on Thursday cut its GDP growth forecast for 2012 from 1.6 percent to one percent, confirming a marked slowdown in Latin America's biggest economy.   It was the third downward revision by the Bank this year: from 3.5 percent early this year to 2.5 percent in June, then down to 1.6 percent in September and to one percent this month.   Markets analysts are also forecasting one percent GDP growth, according to the latest data released Monday.   But some analysts said even this latest, lowered figure might be too high.   "One percent is a little optimistic. I think the economy will grow 0.9 percent this year," said economist Silvia Matos of the Getulio Vargas Foundation.   She said she expects a contraction of investments, which should adversely affect growth forecasts.   "To boost investments, you need labor, and labor in Brazil is very expensive," Matos noted.   "The government's stimulus measures are not enough" and now "the problem ...

Brazil central bank cuts GDP growth forecast  SAO PAULO: Brazil's Central Bank on Thursday said it was cutting its GDP growth forecast for 2012 from 1.6 percent to 1 per cent, confirming a marked slowdown in Latin America's biggest economy.   In September, the Bank had already revised its forecast downward from 2.5 percent to 1.6 percent.   Market analysts have been predicting 1.5 percent growth for Brazil this year, a projection similar to one by the International Monetary Fund in October.   The IMF also expects Brazil ...
Italy senate approves 2013 budget, now passes to lower house  ROME: Italy's Senate on Thursday approved the 2013 budget bill, which now passes to the lower house, one of the last hurdles before parliament is dissolved and elections are called.   The government called a confidence vote to speed up the bill, which passed with 199 votes in favour and 55 against.   Technocrat premier Mario Monti has said he will resign immediately after final approval of the budget bill, making way for President Giorgio Napolitano to call a ...
Spain votes crisis budget, protesters muster  MADRID: Protesters vowed mass street demonstrations as Spanish lawmakers gathered Thursday to pass next year's budget with 39 billion euros ($52 billion) of painful savings.   The government says the tough cuts are needed to fix the public finances of Spain, the eurozone's fourth-biggest economy stricken by the collapse of a construction boom in 2008.   Crowds have been staging daily protests in fury at seeing their pay, jobs and benefits cut and taxes raised in a recession that ...
Belgium BRUSSELS: Belgian gas operator Fluxys said it had signed deals to load 200 small LNG vessels from a new jetty due to open in 2015, a latest sign that LNG use for transport is picking up.   The new jetty at one of Europe's largest LNG terminals will be able to receive vessels with a capacity as small as 2,000 cubic metres, also known as bunker ships that supply larger vessels with LNG used as fuel.   "The Zeebrugge ...
Japan launches WTO dispute against China over stainless steel  GENEVA: Japan has launched a complaint against China at the World Trade Organization to challenge anti-dumping duties levied by China on Japanese exports of high performance stainless steel seamless tubes, the WTO said on Thursday.   The complaint is the third brought to the global trade body by Japan this year and brings to 27 the total number of complaints launched in 2012, the most in almost a decade. The WTO has begun shifting staff to its ...
UK gas prices fall on mild weather, low holiday demand  LONDON: British gas prices fell slightly on Thursday as expectations of warmer weather weighed on the market and demand began to drop ahead of the Christmas holiday.   Gas for within-day delivery fell 0.5 pence to 66.00 pence per therm at 0900 GMT.   "It's the last few days before Christmas, so demand is already a bit lower," one gas trader said.   "The weather is set to become relatively mild so demand is weaker on this front as well, so ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln