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Japan reflation facing many hurdles: S&P  TOKYO: The Japanese economy is facing many hurdles as it struggles to reverse long-term deflation, according a report from ratings agency Standard & Poor's on Friday.   The Liberal Democratic Party took power this week on a campaign that pledged to inject new life into the limp economy, after it won a landslide election earlier this month.   S&P said the election raised hopes the world's third-largest economy may be able to escape the deflation that has haunted it for years, and recommended that policy makers "aggressively implement" measures to do so.   "It is positive that the Japan reflation issue is in play again and, with the change in government, Japan is likely entering a period of both policy and market action," said S&P's chief economist Paul Sheard.   "However, the hurdles to a policy-induced reflation are many, and they are high."   The report said past actions by the Bank of Japan were not enough and warned it ...

South Africa trade deficit narrows from record high  JOHANNESBURG: South Africa's trade deficit narrowed in November from record levels seen the month before, thanks to a sharp drop in imports, official data showed.   The deficit narrowed to 7.94 billion rand ($930 million) as imports of vehicles, aircraft and vessels dropped and labour unrest ebbed, allowing mining exports to tick up.   The deficit shrank more than 60 percent from October, when a slump in metals exports led to a shockingly high trade gap.   Mining output had been ...
Germany BERLIN: The German goverment is "confident" that US President Barack Obama and congressional leaders can reach a deal to avert next year's "fiscal cliff" of tax hikes and spending cuts.   "We are confident" that the United States will find a "long-term solution" on its budget "as they have done in the past," government spokesman Georg Streiter told a regular news briefing.   Obama cut short his Christmas break this week to fly back to Washington to revive last-ditch ...
Portugal nine month deficit narrows LISBON: Portugal's budget deficit narrowed to 5.6 percent of gross domestic product in the first nine months of 2012 from 6.7 percent a year earlier, still above the year-end deficit target of 5 percent, official data showed on Friday.   The National Statistics Institute said a 5.6 percent reduction in public spending offset a 3.4 percent drop in revenues in the period allowing to narrow the gap.   Portugal's EU, ECB and IMF lenders agreed in September to give ...
Sri Lankan November trade deficit narrows 9.8pc COLOMBO: Sri Lanka's trade deficit narrowed 9.8 percent to $992.9 million in November from $1.1 billion the same month last year, helping the island-nation to narrow the trade deficit in the first 11 months, central bank data showed on Friday.   August imports fell 8.4 percent to $1.82 billion from $1.99 billion a year earlier. Exports declined 6.6 percent to $827.6 million, compared with $885.8 million a year ago.   The trade deficit in the first 11 months of ...
France PARIS: French national statistics agency INSEE said Friday it was revising its figure for the country's third quarter economic growth from 0.2 percent to 0.1 percent.   INSEE said the figure was revised following new data with lower industrial production in the transport sector and lower consumption of services in the third quarter.   INSEE said earlier this month it expects France's economy to contract by 0.2 percent in the final quarter of this year.   President Francois Hollande's Socialist government, ...
Japan Nov crude imports from Iran fall 20.3pc  TOKYO: Japan's crude oil imports from Iran in November fell 20.3 percent from a year earlier, data from the trade ministry showed on Friday, as Japanese refiners continued to curb shipping in the face of sanctions on the Middle Eastern country.   Japan, the world's third-biggest oil consumer, imported 868,443 kilolitres (182,078 barrels per day) of Iranian crude last month, according to data from the Ministry of Economy, Trade and Industry (METI).   The Islamic Republic is under pressure ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln