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Canadian inflation ticks up to 2.4pc OTTAWA: Canadian consumer prices rose 2.4 percent in June, inching up from the 2.3 percent annual rate in May, Statistics Canada said Friday.The June uptick in the consumer price index (CPI) was based on across-the-board price increases, and met analyst expectations.Higher prices for housing, food and transportation played the biggest part, with the province of Ontario posting the biggest hit to people's wallets, according to the government agency.Consumers paid more for natural gas and property taxes last month -- overall shelter costs rose 2.9 percent year-on-year -- while electricity also became more expensive, moving up by 4.2 percent.Canadians paid 2.9 percent more for food in June than a year earlier, with meat costing 9.4 percent more and fresh vegetables prices surging 9.5 percent. Meanwhile, the prices of new passenger vehicles rose 1.6 percent compared with a year ago while gasoline spiked 5.4 percent. Overall, the country's transportation index rose 2.2 ...

IMF chief says low inflation can hit European growth PARIS: IMF chief Christine Lagarde warned on Friday that low inflation could damage growth in Europe and urged the European Central Bank to maintain a flexible policy."Obstinately low inflation can seriously undermine growth," said Lagarde, who recently hinted that the 3.6 percent global growth forecast for 2014 may have to be trimmed.Copyright AFP (Agence France-Presse), 2014 ...
Business leaders urge G20 reforms to boost global growth by $3.4trn SYDNEY: Business leaders in Australia Friday called on G20 leading economies to implement recommendations on structural reforms and free trade that could boost global growth by US$3.4 trillion and create millions of jobs.The business chiefs, who are in Sydney for a two-day B20 summit, said their list of 20 recommendations -- if adopted by G20 leaders -- would help them exceed the 2.0 percent additional GDP target over five years that finance ministers agreed to ...
IMF says Ukraine economy to shrink 6.5 instead of 5.0pc in 2014 KIEV: The International Monetary Fund said on Friday it expected Ukraine's economy to shrink by 6.5 percent in 2014 instead of the 5.0 percent it forecast earlier this year because of the escalating eastern uprising."The conflict is putting increasing strain on the (Fund's assistance) programme," the IMF said in a statement. "Economic prospects have deteriorated notably, and GDP is now expected to contract by 6.5 percent this year, compared to 5.0 percent when the programme ...
South Korea lifts rice import caps, but vows high tariffs SEOUL: South Korea announced Friday it would scrap rice import caps from next year, but said high tariffs would be imposed to prevent a damaging surge that would hurt local farmers.The decision to open the market up was forced by the imminent expiry of a two decade-old deal on rice import quotas that South Korea had secured with the World Trade Organization (WTO).Even though the move was expected, it remains a divisive and extremely sensitive ...
Japan's child poverty hits record high TOKYO: Japan's child poverty rate has hit a record high, according to a government survey, prompting criticism that Tokyo wasn't doing enough to fix the problem.The welfare ministry report showed the child poverty rate rose to 16.3 percent in 2012, the worst result since the survey started nearly three decades ago and one of the highest levels among the 34 countries in the Organisation for Economic Co-operation and Development (OECD).The rate measures the percentage of ...
US weekly jobless claims drop WASHINGTON: Initial claims for US unemployment insurance benefits fell last week, a further sign of recovery in the labor market, according to government data released Thursday.First-time jobless claims totaled 302,000 in the week ending July 12, a drop of 3,000 from the prior week's number.The previous week's level was revised up by 1,000 to 305,000.The four-week moving average fell by 3,000 to 309,000, the lowest claims level for the average since early June 2007.The labor ...


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