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French unemployment stable at 10pc in second quarter PARIS: French unemployment was stable in the second quarter at around 10 percent, official data showed on Thursday, as the EU's second-largest economy continues to grapple with a stagnant economy.Including overseas territories, the unemployment rate among the working population was also largely unchanged from the previous three months at 10.3 percent, equivalent to around 2.9 million people, the data from Insee showed. Over the past year, the unemployment rate in all of France's territory has risen 0.2 points.The jobless rate among people aged under 24 was down 0.6 points but was up by an equivalent proportion among the over-50s.France posted zero growth in the second quarter, after having grown 0.7 per cent in the first three months of the year.The stubbornly high level of unemployment has cast a pall over Francois Hollande's presidency.The French leader had promised to halt the rise in the number of jobless by the end of ...

IMF: Impact of China slowdown larger than expected WASHINGTON: China's economic slowdown is having a broader impact on the global economy than originally expected, especially on emerging markets, the International Monetary Fund said late Wednesday.In a report for Group of 20 finance chiefs meeting this week in Ankara, the IMF said the turmoil in China and other factors like capital flow reversals were increasing the risks to economic growth around the world.It warned that advanced and emerging economies need to continue to support ...
US factory orders slightly higher in July WASHINGTON: New orders for US manufactured goods edged higher in July after a solid increase in June, led by gains for boats and ships, the Commerce Department reported Wednesday.Factory orders rose 0.4 percent in July, slower than June's 2.2 percent rise.But for the January-July period this year, orders were down 7.3 percent by value from the same period in 2014.Orders for transportation equipment jumped 5.5 percent month on month on a surge in demand for ...
US sees steady growth in July-August: Fed Beige Book WASHINGTON: The US economy stuck to its modest-to-moderate pace in recent months but companies complained that China's slowdown and the strong dollar were hurting business, a Federal Reserve report said Wednesday.Most of the Fed's 12 districts also reported only slight or modest growth in hiring, though a handful said there were increasing wage pressures due to tighter labor market conditions, according to the Beige Book regional survey.The Beige Book gave no sense of any significant ...
West Africa oil exports to Asia seen falling to l.68mn bpd LONDON: West African crude oil exports to Asia are set to fall to 1.68 million barrels per day (bpd) in September, their lowest since August 2014, shipping data and a survey of traders showed on Wednesday. Angola, Nigeria and neighbouring countries are expected to export about 28 cargoes to China in September and 15 to India, down from 30 and 25 respectively last month. Crude flows to Asia have fallen from 2.34 million bpd in ...
Australia's economy slows as China stumbles SYDNEY: Australia's economy expanded at its slowest quarterly pace for more than two years as mining and construction activity fell and exports declined, data showed Wednesday, hit by weakening growth in its biggest trading partner China.Resources-driven economies such as Australia, Brazil and Canada have been hurt by softening Chinese demand for commodities, which has triggered a dive in prices for metals and oil, sending their currencies tumbling and hitting revenue.Canada, the world's fifth-largest oil producer, ...
Eurozone unemployment lowest for three years BRUSSELS: Unemployment in the eurozone fell to 10.9 percent in July, the first time it has dipped below 11 percent since February 2012, raising hopes that economic recovery is taking hold, official data showed on Tuesday.Joblessness in the 19-nation currency bloc fell from 11.1 percent in June, the EU statistics agency Eurostat said, but with youth unemployment at a still high 21.9 percent.As usual, the level of joblessness varied widely across the eurozone, but the ...


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

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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