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India's wholesale prices decline for seventh month MUMBAI: India's wholesale inflation fell for a seventh consecutive month, but the pace of the drop slowed as fuel and food prices rose, government data showed on Monday.The Wholesale Price Index (WPI), an inflation indicator which measures the biggest basket of goods, fell a lesser-than-expected 2.36 percent in May from a year earlier.Economists surveyed by Bloomberg had expected the WPI to slump 2.50 percent after a 2.65 percent drop in April.The figures came after data on Friday showed that consumer price inflation data had increased to 5.01 percent from 4.87 percent in April.Analysts said the numbers reinforced their belief that India's central bank would not cut interest rates until the monsoon ends in late September. "The risk of a flare up in food price inflation remains due to the prediction of a below normal monsoon," said Arun Singh, senior economist at research firm Dun & Bradstreet.The Reserve Bank of India ...

Turkish unemployment rate falls to 10.6pc ISTANBUL: Turkish unemployment fell to an average of 10.6 percent in February-April from 11.2 percent in the first three months of the year, the Turkish Statistics Institute said on Monday.The result was a slight increase on the 9.7 percent from a year earlier. The non-farm unemployment rate, also measured on a three-month average, eased to 12.6 percent during the February-April period from 13.2 percent in January-March.Copyright Reuters, 2015 ...
Indonesia's trade surplus increases in May JAKARTA: Indonesia's trade surplus grew to $950 million in May, official data showed Monday, as imports slid sharply in Southeast Asia's largest economy.It was the sixth straight month that Indonesia has recorded a trade surplus and the figure was about double that forecast by economists. It compared to a $450 million excess in April. The widening surplus was driven by a sharp fall in imports to $11.61 billion, down 21.4 percent from a year earlier, ...
Nigeria inflation rises to 2-year high on food prices LAGOS: Nigeria's consumer inflation rose to 9.0 percent year-on-year in May, the upper end of a central bank target, from 8.7 percent in April, marking the highest rate since May 2013, the national statistics office said. Food inflation edged higher to 9.8 percent year-on-year in May, up 0.3 percentage points from April, due to the late onset of rains which pushed back the harvest season and a hike in transport costs because of a fuel ...
Colombia 2015 budget deficit likely to widen from goal BOGOTA: Colombia's central government deficit will probably be around 3 percent of gross domestic product this year, deeper than a 2.8 percent target, Finance Minister Mauricio Cardenas said on Thursday, reinforcing analyst expectations the government will borrow more. Tax revenue is expected to be lower than the official target this year at around 116.8 trillion pesos ($46.3 billion) instead of 123.9 trillion pesos, Cardenas said, as lower oil prices hit tax and royalty income on ...
Portugal sells 61pc of TAP to US-Brazilian airline entrepreneur LISBON: Portugal's government said Thursday it will sell its 61 percent stake in struggling flag carrier TAP to US-Brazilian entrepreneur David Neeleman, who founded the low-cost JetBlue and Azul Brazilian airlines."The selected bid is that of the Gateway consortium" formed by Neeleman and Portuguese businessman Humberto Pedrosa, said Miguel Poiares Maduro, a minister in the Portuguese prime minister's office.The government's choice was based on "the best offer, notably in what involves reinforcing the financial capacity ...
Sri Lanka to raise up to $2bn in foreign borrowings COLOMBO: Sri Lanka's new government plans to borrow up to $2.0 billion from overseas, the finance minister said Thursday, just two weeks after raising a billion through its first international bond issue.Minister Ravi Karunanayake said the government was seeking at least $1.0 billion with a five-year tenure, but may increase the loan amount to $2.0 billion depending on the market response."Tomorrow we will advertise and call for bids. We hope to collect $1.0 billion in ...


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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln