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US existing-home sales rise for third straight month WASHINGTON: Sales of existing homes in the United States rose for the third straight month in July, holding at the highest pace since 2007, the National Association of Realtors said Thursday.Sales of previously owned single-family homes rose 2.0 percent to a seasonally adjusted annual rate of 5.59 million, the strongest level since February 2007, about nine months before the US economy entered the Great Recession.Sales were up 10.3 percent from a year ago. Analysts had expected a slightly slower annual sales rate of 5.42 million units."The creation of jobs added at a steady clip and the prospect of higher mortgage rates and home prices down the road is encouraging more households to buy now," said Lawrence Yun, NAR chief economist, in a statement.Despite the solid growth in existing-home sales during the peak homebuying season, tight housing supplies and rising prices likely pushed the share of first-time buyers down to the ...

Malaysia PM says economy sound, as fears mount KUALA LUMPUR: Prime Minister Najib Razak said on Thursday that Malaysia's economy was on a sound footing, seeking to assuage growing public and investor fears over the nation's plummeting currency and slowing growth."Malaysia's financial system resilience remains intact," Najib said, according to a statement from his office.Najib, who is also finance minister, added that the plunging ringgit would not be pegged against the greenback to stem its decline, a step taken in the late 1990s ...
US consumer prices edge up 0.1pc in July WASHINGTON: US consumer prices rose slightly in July, extending a slow year-over-year rise since April as the Federal Reserve plans an interest rate increase this year, official data showed Wednesday.The Labor Department said its consumer price index rose 0.1 percent in July, slowing from a 0.3 percent gain in June and the smallest monthly increase since April.Food prices rose 0.2 percent. Energy prices were up 0.1 percent, led by a 0.9 percent rise in gasoline ...
China FDI up 5.2pc in July year-on-year on M&A: government BEIJING: Foreign investment into China rose 5.2 percent in July compared to the previous year, largely on the back of mergers and acquisitions by overseas firms, the commerce ministry said on Wednesday.Overall foreign direct investment (FDI), which excludes financial sectors, was $8.22 billion last month, the ministry said, and $76.63 billion in the first seven months of the year, a 7.9 percent increase."The amount and the proportion of foreign capital mergers and acquisitions rose sharply ...
Japan exports stumble on China slowdown TOKYO: Japan's exports slowed in July, official data showed Wednesday, adding to concerns about the fragile recovery in the world's number three economy as demand falls in neighbouring giant China.The lacklustre figures come days after news Japan's economy contracted last quarter, boosting speculation the central bank will be forced to unleash more stimulus as Tokyo's "Abenomics" growth blitz stumbles.While the value of Japan's exports rose 7.6 percent last month from a year ago, partly driven ...
British inflation rate edges up from zero LONDON: Britain's annual inflation rate rose to 0.1 percent in July, up from zero the previous month, official data showed Tuesday."The Consumer Prices Index (CPI) grew by 0.1 percent in the year to July 2015, up from 0.0 percent in the year to June 2015," the Office for National Statistics said in a statement. "A smaller fall in clothing prices on the month compared with a year ago was the main contributor to the rise ...
Away from Caracas, shortages even worse in Venezuela VALENCIA: All the lady wanted was some chicken. But in shortage-plagued Venezuela, she waited in line five hours, only to go home empty-handed."I got here at 5:30 am and came away with nothing! It is just not fair that you have to work so hard -- and then put up with these lines," said an exasperated Lileana Diaz, a 49-year-old receptionist at a hospital emergency room.Venezuelans have been enduring shortages of the most basic goods, ...


Index Closing Chg%
Arrow DJIA 16,374.76 0.14
Arrow Nasdaq 4,733.50 0.35
Arrow S&P 1,951.13 0.12
Arrow FTSE 6,194.10 1.82
Arrow DAX 10,317.84 2.68
Arrow CAC-40 4,653.79 2.17
Arrow Nikkei 18,182.39 0.48
Arrow H.Seng 20,934.94 1.18
Arrow Sensex 25,764.78 1.22

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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln