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India needs to step up reforms to spur growth: OECD NEW DELHI: India's economy is coming out of its worst slowdown in a quarter-century, but needs major structural reforms if it is to return to pre-2011 growth levels, the OECD said Wednesday.The OECD said in its India Economic Survey that annual growth should top 6.5 percent in the coming years, but reducing barriers to manufacturing growth was "critical".India's growth has languished at below five percent for the last two financial years, hit by high interest rates, stubborn inflation and weak investment.The OECD report called for a "simpler and more flexible labour law, covering more workers, coupled with better education and training programmes".India's economy grew by 4.7 percent in the last fiscal year to March 2014 and the central bank projects 5.5 percent expansion this year."Structural reforms would raise India"s economic growth," the report said."In their absence, however, growth will remain below the eight-per-cent growth achieved during the previous decade."Economist say ...

Risky rewards for China's overseas investment boom BEIJING: China's inexorable economic rise is set to see it become a net global investor after decades of Western money flowing into the country, but analysts warn the change offers risks as well as profits.Chinese oil behemoth CNOOC's $15 billion acquisition of Canada's Nexen, completed last year, was just a fraction of the $625 billion the country has invested abroad, much of it resources driven and also taking in other sectors including agriculture, manufacturing and ...
Despite tourism boom, Greek recovery hampered by exports ATHENS: The Greek economy may be basking in the glow of a record summer tourism season, but it is just one bright spot in a fragile recovery overshadowed by weak exports, economists say.After six years of recession, Greece got an economic boost from the May through September tourist season, welcoming more than 20 million visitors. The Greek statistics agency said the economy grew by 0.7 percent in the third quarter. "Tourism did the best it ...
Syria economy 'set back decades' by war BEIRUT: Syria's once-promising economy has been set back more than 30 years by its brutal civil war, economists say, and it may never recover.Squeezed by sanctions and the fallout of the more than three-year-old conflict, the government faces dwindling revenues and is increasingly dependent on aid from key allies Iran and Russia.Inflation is in the double digits, half the population is unemployed and international trade has plummeted."We've lost a decade in terms of human development ...
British inflation edges up in October from five-year low LONDON: British inflation edged up in October from a five-year low but prices are expected to weaken again soon, underscoring why the Bank of England is signalling it won't start to raise interest rates until well into next year.Consumer prices rose by an annual 1.3 percent in October, in line with economists' forecasts in a Reuters poll and slightly higher than September's 1.2 percent, the Office for National Statistics said on Tuesday.The pound, which has ...
US producer inflation up, but underlying trend muted WASHINGTON: US producer prices unexpectedly rose in October, but the underlying trend continued to point to a benign inflation environment that could persuade the Federal Reserve to keep interest rates very low a bit longer.The Labor Department said on Tuesday its producer price index for final demand increased 0.2 percent, driven by a jump in prices in the services sector. The PPI had declined 0.1 percent in September.October also saw the introduction of new motor ...
UK inflation picks up slightly in October to 1.3pc LONDON: British inflation picked up slightly in October from a five-year low as fuel prices fell less strongly than a year ago, leaving the Bank of England under no pressure to start raising interest rates.Consumer prices rose by an annual 1.3 percent in October, compared with 1.2 percent in September and in line with economists' forecasts in a Reuters poll, the Office for National Statistics said on Tuesday.The ONS said food and non-alcoholic beverages fell ...

 



 
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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