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Peru manufacturing likely to rise 3-4 pct in 2015: minister LIMA: Manufacturing activity in Peru will likely grow between 3 percent and 4 percent this year due to a rebound in fishmeal processing, helping to power an expected economic rebound, the country's production minister said on Tuesday.Last year manufacturing fell 3.3 percent as fishmeal factories struggled with scant anchovy supplies because of warm waters.Manufacturing in Peru, which also includes metals and oil refining, typically makes up around 15 percent of gross domestic product (GDP).Peru's Production Minister Piero Ghezzi said he expects a "very strong" recovery in the fishing sector this year as a successful first season wraps up.Peru is the world's biggest supplier of fishmeal.February's weaker-than-expected 0.94 percent economic expansion likely marked the end of a sharp slowdown, Ghezzi added.Growth, however, has repeatedly missed government forecasts for a recovery over the past year.Peru's mining-driven economy expanded by 2.35 percent last year - its weakest pace of growth in five years ...

Brazil's monthly inflation likely eased below 1pc in April BRASILIA: Brazil's monthly inflation rate probably eased in April to the lowest in five months, laying the groundwork for the central bank to stop raising interest rates soon, a Reuters poll showed.Consumer prices as measured by the benchmark IPCA index probably rose 0.76 percent in April from March, the lowest rate since November, according to the median of 34 forecasts that ranged from 0.70 to 0.93 percent.The expected inflation relief should be partly explained by ...
US service sector growth rebounds in April: ISM survey NEW YORK: The pace of growth in the US services sector rose to a five-month high in April, lifted by a surge in business activity that offset a sharp decline in exports, an industry report showed on Tuesday.The Institute for Supply Management said its services index rose to 57.8 last month from 56.5 in March. Analysts were looking for a reading of 56.2, according to a Reuters survey.The April reading was the highest since November. ...
Canada March trade gap unexpectedly jumps to record high OTTAWA: Canada's trade deficit jumped to a record high C$3.02 billion ($2.50 billion) in March from February as imports surged and weak crude prices helped curb exports, Statistics Canada data indicated on Tuesday.Traders had forecast a deficit of C$850 million. Statscan revised February's deficit sharply higher to C$2.22 billion from an initial C$984 million, citing a sharp downward revision in energy exports.The value of exports, hit by a prolonged slump in the price of oil, ...
US fed funds rate holds at 0.13pc NEW YORK: The US federal funds rate , which banks charge each other to borrow each other's excess reserves, averaged 0.13 percent on Monday, matching Friday's level, Fed data released early Tuesday showed. The fed funds rate, which the Federal Reserve targets to achieve its rate objective, traded in a range of 0.06 percent to 0.3125 percent, compared with Friday's 0.02 percent to 0.3400 percent range. Copyright Reuters, 2015 ...
EU to delay decisions on tax deals with multinationals BRUSSELS: EU regulators will miss a June deadline to decide whether tax deals granted by individual member states to companies including Apple and Starbucks are legal because they lack some data, the EU's antitrust chief said on Tuesday. The investigations launched last year centre on Luxembourg's tax rulings for carmaker Fiat Chrysler and online retailer Amazon, as well as coffee chain Starbucks Corp's deal with the Netherlands and iPhone maker Apple's Irish arrangements, and whether ...
Greece economy in sharp downturn over past 3 months: EU BRUSSELS: Greece's economy suffered an alarming slump in the first three months of 2015, the European Commission said on Tuesday, in a dangerous development as Athens continues to battle its EU-IMF creditors.In its Spring forecasts, the EU executive slashed its overall 2015 growth forecast for Greece to 0.5 percent, a huge reduction from its earlier prediction of 2.5 percentCopyright AFP (Agence France-Presse), 2015 ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln