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Surprise falls in German trade surplus, industrial output FRANKFURT: Germany's industrial output and its trade surplus were both hit by surprise falls in March, according to provisional figures published Friday by the federal statistics office, Destatis.The slight fall of 0.5 percent in production after seasonal adjustments was counter to analyst expectations, which had predicted a modest rise of 0.4 per cent, said financial data firm Factset. The slide is mostly due to a dip in earnings from investment products (-1.4 percent), Destatis said.While German exports did grow by 1.2 percent over the month to 98.9 billion euros ($11 billion), imports rose faster to 79.6 billion euros, it said.Copyright AFP (Agence France-Presse), 2015 ...

China April exports down 6.4pc in sign of economic weakness BEIJING: China's exports fell unexpectedly in April as imports posted their sixth straight monthly decrease, official data showed Friday, with analysts calling for more stimulus to bolster the world's second-largest economy.The country's exports dropped 6.4 percent year-on-year in April to $176.3 billion, the customs authority said -- well below the median forecast of a 0.9 percent rise in a Bloomberg News poll of economists.The fall was accompanied by a 16.2 percent drop in imports to ...
Italy 2015 budget problems mount over court pensions ruling ROME/BRUSSELS: Italy's public finance difficulties look to be increasing after a recent court ruling overturned a cash-saving pensions reform and imposed costs that will show up in this year's budget deficit, sources said on Thursday.The constitutional court last week overturned provisions of a 2012 reform by a previous Italian government. That reform blocked inflation-adjusted increases in pensions of more than 1,400 euros ($1,576.40) a month for 2012 and 2013 .Blocking those pension increases yielded savings ...
US jobless claims hover near 15-year low, boost growth outlook WASHINGTON: The number of Americans filing new claims for unemployment benefits held near a 15-year low last week in a sign that the labor market was strengthening despite moderate economic growth.Initial claims for state unemployment benefits rose 3,000 to a seasonally adjusted 265,000 for the week ended May 2, the Labor Department said on Thursday. That was well below the increase to 280,000 that economists had forecast.Claims for the prior week were unrevised at 262,000, ...
Weak global economy, power cuts weighing on South Africa's growth CAPE TOWN: South Africa's growth forecast for 2015 was left unchanged at 2 percent on Thursday as a sluggish global recovery and domestic constraints such as power shortages weighed on the economy, Finance Minister Nhlanhla Nene said.Africa's most advanced economy is battling to keep lights on due to a shortage in electricity supply, with the state power utility Eskom imposing frequent rolling blackouts in order to prevent its creaking grid from collapsing.British American Tobacco (BAT), ...
Mexican inflation cools more than expected in April MEXICO CITY: Mexico's annual inflation rate eased in April to just above the central bank's 3 percent target partly due to lower electricity costs, even as a slumping peso threatens to push consumer prices higher.Inflation in the 12 months through April reached 3.06 percent, below the 3.10 percent expected in a Reuters poll, and the 3.14 percent annual rate in March. Price drops for low octane gasoline and tourist packages also helped cool the rate.At ...
Germany's Schaeuble says budget leeway should go to investment BERLIN: Germany should use extra budget leeway arising from higher expected tax revenue for spending on infrastructure projects and other investments, Finance Minister Wolfgang Schaeuble said on Thursday.Schaeuble also told a news conference in Berlin that he was in favour of the government now tackling the problem of bracket creep, or 'cold progression' as it is known in Germany, which he said would cost some 1.5 billion euros.Germany is under pressure from its trade partners ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln