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Philippine inflation slows to record 0.8pc in July MANILA: Philippine inflation slowed to a record low of 0.8 percent year-on-year in July on lower electricity, petrol and transportation costs, the government said on Wednesday.The rate of inflation was within the central bank's forecast of 0.5 percent to 1.3 percent, but marked a steep fall from June's year-on-year rate of 1.2 percent, according to the Philippine Statistics Authority (PSA).Petrol, electricity and water prices decreased by 1.1 percent last month while transportation prices declined 0.5 percent. Inflation for food and non-alcoholic beverages slowed to 1.3 percent, the PSA said.The figures were released ahead of a central bank meeting on interest rates next week, with authorities under pressure to help spur slowing economic growth."We will see at our meeting next week if there is (a) need for any adjustments to our stance of policy," central bank governor Amando Tetangco said in a statement following the release of the inflation data.Tetangco said ...

Spanish jobless claims fall in July for sixth straight month MADRID: The number of registered unemployed fell in Spain for the sixth straight month in July, government data showed Tuesday, the latest sign of improvement in the eurozone's fourth-largest economy.Jobless claims declined last month by 74,028, or 1.8 percent, to 4.05 million, the labour ministry said in a statement.The improved jobs outlook should provide a boost to conservative Prime Minister Mariano Rajoy as he prepares for what promises to be a hard-fought re-election campaign at ...
US factory orders rebound in June WASHINGTON: US orders for manufactured goods rebounded in June after two months of declines, boosted by strong gains in aircraft and other transportation equipment, the Commerce Department reported Tuesday.Factory orders jumped 1.8 percent in June, matching the consensus estimate, following a 1.1 percent decrease in May.Excluding transportation, which can be volatile, June orders rose a modest 0.5 percent.Transportation equipment surged 9.3 percent. Civilian aircraft orders soared 65.4 percent, with defense aircraft up 31.0 percent. Ships ...
Australia's central bank keeps interest rate at 2.0pc SYDNEY: Australia's central bank Tuesday held interest rates at a record-low of 2.0 percent as it kept the possibility of further easing on the table and dropped calls for a weaker exchange rate.The Reserve Bank of Australia said it would continue to monitor data over the next few months, adding that leaving the cash rate unchanged "was appropriate" for this month."Further information on economic and financial conditions to be received over the period ahead will ...
Argentina says July tax income rises 36.3pc on year BUENOS AIRES: Argentina's tax revenue jumped 36.3 percent in July from the same month a year earlier to 145.999 billion pesos ($15.887 billion), the government said on Monday. This was above the median forecast of 141.912 billion pesos in a Reuters poll of analysts. Official data shows signs of an economic recovery in Argentina, Latin America's third biggest economy, helped by increased government spending ahead of October's presidential election. Even so, private economists estimate Argentina's ...
US consumer spending edges higher in June WASHINGTON: US consumer spending edged higher in June, capping a rebound in the second quarter from weak growth in the first months of the year, the Commerce Department reported Monday.Consumer spending, which accounts for about 70 percent of US economic activity, rose 0.2 percent in June after a 0.7 percent gain in May and a 0.3 percent increase in April, the department said.For the April-June quarter, spending increased at an annual rate of 2.9 percent, ...
US manufacturing slows a tick in July WASHINGTON: US manufacturing activity slowed slightly in July amid weaker export orders and a continued drag from falling oil prices, the Institute for Supply Management reported Monday.The ISM purchasing managers index on the manufacturing sector fell to 52.7 in July from 53.5 in June. A reading above 50 indicates expansion. Analysts on average had expected the PMI would rise to 53.7.The July level was the lowest since April and remained well below the 12-month average ...


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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