Just in:  

You are here: Home»World»Business & Economy

Global Business & Economy


Brazil needs temporary tax hike, Rousseff's chief of staff says BRASILIA: Brazil needs a temporary tax increase to reduce a budget deficit that threatens the country's debt rating, the presidential chief of staff said in an interview published on Sunday. Aloizio Mercadante did not say which taxes would need to be raised, but told Folha de S. Paulo that a tax increase could help speed up an economic recovery in the longer term. "We need to raise taxes temporarily so we can, for example, open room for interest rates to drop faster," Mercadante said in the interview conducted on Thursday. A tax hike would help the government avoid the 30.5 billion reais ($7.9 billion) deficit pencilled in next year's budget bill. Other measures should include passing bills to reduce earmarked expenditures and simplify sales taxes, Mercadante said. The government has been discussing alternative sources of revenue to avoid a budget deficit next year, President Dilma Rousseff said in a radio ...

German factory orders fall in July FRANKFURT: German industrial orders, a key measure of demand for goods in Europe's top economy, fell in July, weighed down by declining demand outside the euro area, the economy ministry said on Friday. Provisional official data showed a decrease of 1.4 percent month-on-month, following an increase of 1.8 percent in June. Analysts polled by financial services firm FactSet had pencilled in a shallower drop of 0.6 percent for July. The decline was attributable to weaker ...
US service sector growth eases a bit in August WASHINGTON: The US economy's service sector growth eased back in August from July's fast pace, with employment, export orders and prices declining, the Institute for Supply Management said Thursday.The ISM non-manufacturing purchasing managers index (PMI) fell to 59.0 in August from the July surge to 60.3.The August decline was less than expected, with analysts' estimates hovering around a 58.4 number.A reading above 50 indicates growth. The service sector, which accounts for roughly 80 percent of ...
ECB cuts growth, inflation forecasts for 2015-2017 FRANKFURT: The European Central Bank on Thursday cut its forecasts for both economic growth and inflation in the single currency area over the next few years.The ECB, in its regular staff projections, was pencilling in growth of 1.4 percent for 2015, 1.7 percent for 2016 and 1.8 percent for 2017, president Mario Draghi said.That represented a reduction from the previous set of projections in June, when the bank had been forecasting growth of 1.5 percent, ...
US trade gap narrows in July WASHINGTON: The US trade deficit narrowed in July as exports increased and imports fell sharply, led by a decline in consumer goods, the Commerce Department reported Thursday.The trade gap in goods and services was $41.9 billion in July, down from an upwardly revised $45.2 billion in June.The shrinkage was stronger than expected, with analysts putting it at $42.7 billion.Analysts said the improvement could bode well for economic growth in the third quarter."Much better core numbers, ...
Canada trade deficit narrows to Can$593 million in July OTTAWA: Canada's trade deficit narrowed to Can$593 million (US$447 million) in July, the government statistical agency said Thursday.Analysts had forecast a much larger deficit of Can$1.4 billion, after a Can$811 million shortfall was posted in June.Exports increased 2.3 percent to Can$45.5 billion in July, led by foreign sales of passenger cars and light trucks, consumer goods, and aircrafts and parts, according to Statistics Canada.These gains were partially offset by a decrease in exports of energy ...
South Africa's business confidence falls to new 16-year low in August JOHANNESBURG: South Africa's business confidence fell 4 index points in August to its lowest level in more than 16 years, a survey showed on Thursday due to subdued domestic economic performance and global financial market turmoil led by slowing growth in China. The Business Confidence Index fell to 84.3 in August, retracting to an even lower level than in June after increasing 87.9 in July, the South African Chamber of Commerce and Industry (SACCI) said ...


Index Closing Chg%
Arrow DJIA 16,472.37 1.23
Arrow Nasdaq 4,707.77 1.74
Arrow S&P 1,951.36 1.43
Arrow FTSE 6,129.98 0.95
Arrow DAX 9,553.07 0.46
Arrow CAC-40 4,458.88 0.73
Arrow Nikkei 17,725.13 0.02
Arrow H.Seng 21,506.09 3.17
Arrow Sensex 26,220.95 0.25

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.998 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklySeptember 21, 2015
Reserves $18.726 bln