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Spanish consumer prices drop again in August: stats office MADRID: Spanish consumer prices fell again in August, dropping by 0.5 percent on an annual basis, preliminary figures from the national statistics institute showed Thursday, heightening concerns about deflation risk in the eurozone.The drop follows a sharper-than-expected fall in consumer prices in July of 0.4 percent on an annual basis due to the lower cost of entertainment, electricity, tobacco and food.The fall in prices reflects weak domestic demand in Spain, still struggling with a 24.5-percent jobless rate even as the economy slowly expands after emerging gingerly in mid-2013 from a double-dip recession.The latest inflation report is likely to be of concern to policymakers concerned about deflation, in which falling prices choke off growth. Broad, sustained falls in consumer prices can lead people to postpone purchases in the hope of future price declines, a reaction that brakes economic activity. The phenomenon can quickly degenerate into a vicious downward spiral that is ...

Pernod Ricard reports profit fall, cuts 900 jobs PARIS: Drinks giant Pernod Ricard reported a fall in annual profits on Thursday, blaming in part a sales slowdown in China, and cut 900 jobs worldwide.Net profit over 12 months to the end of June fell by 14.0 percent to 1.02 billion euros ($1.35 billion), and sales fell by 7.0 percent to 7.94 billion euros.Operating profit fell by 8.0 percent to 2.05 billion euros.The price of shares in the group was showing a gain of ...
German jobless rate unchanged in August: data FRANKFURT: Unemployment in Germany stagnated in August, as clouds continue to build over Europe's biggest economy, official data showed on Thursday. The unemployment rate stood at 6.7 percent in seasonally adjusted terms in August, unchanged from July, while the number of people registered as unemployed edged up by 2,000, the Federal Labour Office said in a statement.That took analysts by surprise. They had projected a decline of around 5,000. "The German economy shrank by 0.2 ...
Indonesia cuts Sept palm export tax to 9pc JAKARTA: Indonesia, the world's top producer of palm oil, lowered its export tax for crude palm oil to 9 percent for September from 10.5 percent in August, an industry ministry official told Reuters on Thursday. For cocoa, the government left the export tax unchanged at 10 percent, said Abdul Rochim, director of food and fisheries industry at Industry Ministry.Copyright Reuters, 2014 ...
EU awards 164,000 T Ukrainian wheat imports this week PARIS: The European Union this week awarded licences to import 164,000 tonnes of Ukrainian wheat under a duty-free quota created this year as part of a trade deal between the bloc and Kiev, data from French farm office FranceAgriMer showed on Thursday. The award leaves around 18,614 tonnes Ukrainian wheat available under the quota, which was opened in April and allowed for 950,000 tonnes of Ukrainian wheat to be imported by Oct. 31.An equivalent quota ...
Greece's PPC H1 net profit drops 24pc, hurt by provisions ATHENS: Greece's dominant power utility PPC reported a bigger/smaller-than-expected drop in first-half net profit, weighed down by increased provisions for overdue bills and tariff cuts. Net profit dropped 24 percent to 96.3 million euros (127 million US dollar), down from 127.1 million euros in the same period last year, the company said on Thursday. Analysts in a Reuters poll had forecast on average a net profit of 105.9 million euros. Bad debt provisions rose 32 ...
Spain final Q2 GDP 0.6pc q/q, 1.2pc y/y MADRID: The Spanish economy grew 0.6 percent in the second quarter on a quarterly basis, as forecast in a flash estimate and after growing by a 0.6 percent in the first quarter, final official data showed on Thursday. On an annual basis the economy grew by 1.2 percent, in line with consensus and 1.2 percent growth in the previous quarter.Copyright Reuters, 2014 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln