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Philippines sets Q4 domestic borrowing at $3bn MANILA: The Philippines plans to raise 135 billion pesos ($3 billion) through the sale of Treasury bills and bonds in the last three months of the year, the Bureau of Treasury said, up 51 percent from actual debt sales in the September quarter.The Bureau of Treasury plans to sell 60 billion pesos worth of 91-day, 182-day and 364-day Treasury bills and 75 billion pesos of 3-, 5,- and 7-year Treasury bonds between October and December, it said in a notice to government security dealers.The government had also planned to raise 135 billion pesos in the third quarter but only raised 89.61 billion pesos, based on Reuters calculations, after it rejected bids, partially awarded some offers and cancelled an auction of 10-yr bonds in August to give way to a local bond exchange programme.Manila borrows from the domestic and foreign debt market to finance its budget deficit which is wants to ...

Thai Aug exports surprisingly fall 7.4pc y/y, imports down 14.2pc BANGKOK: Thai exports in August fell by the biggest percentage since bad flooding in late 2011, confirming that a key engine of the country's economy is not firing.Exports dropped 7.4 percent from a year earlier, Commerce Ministry data showed on Monday, compared with the forecast of a 3.6 percent decline in a Reuters poll. In July, shipments slipped 0.85 percent from a year earlier.On Friday, the central bank scrapped its earlier forecast of 3 percent ...
China hails free trade zone on one-year anniversary SHANGHAI: China on Monday hailed the one-year anniversary of its first free-trade zone (FTZ), but foreign companies expressed disappointment over the pace of pledged reforms as they await real business opportunities.When the FTZ was set up in China's commercial hub Shanghai, officials promised a range of financial reforms, including full convertibility of the yuan currency and freer interest rates -- both of which remain unfulfilled.Authorities shook up the zone's management, removing Communist Party chief and ...
Turkish economy minister wants lira at 2.15-2.25 to dollar ISTANBUL: Turkish Economy Minister Nihat Zeybekci said on Sunday he wanted the lira currency to trade in a band of between 2.15 and 2.25 to the U.S. dollar, slightly stronger than current levels.Speaking to reporters on the sidelines of a World Economic Forum meeting in Istanbul, Zeybekci, who has repeatedly called on the central bank to lower interest rates, said such a level would be ideal for Turkey's foreign trade."2.15-2.25 is a reasonable band that ...
German 2014 economic growth could be lower than forecast: minister BERLIN: Germany's economy could grow less in 2014 than the 1.8 percent predicted by the government, but it still remains in good shape compared to its EU partners, the economy minister said Sunday.Sigmar Gabriel, economy minister of Europe's top economy, told Deutschlandfunk radio that the Ukraine crisis had hit the investment climate and not just for those companies with direct trade ties with Russia."It can be that in the end the growth figures are still ...
Kuwait budget surplus up in last fiscal year as spending slows DUBAI: Kuwait's budget surplus edged up to 12.9 billion dinars ($44.8 billion) in the fiscal year to last March as government spending fell, largely because of a drop in capital expenditure, finance ministry data showed.The figures suggest Kuwait is still struggling to spend its oil wealth on economic development because of bureaucratic red tape and political conflict between the cabinet and parliament, which has slowed big infrastructure projects.The budget surplus, equivalent to around 26 percent ...
China industrial profits fall in August in latest weak data SHANGHAI: China's industrial profits fell 0.6 percent in August from a year earlier, reversing from July's 13.5 percent annual rise, the government said on Saturday, the latest in a series of weak data from the world's second-largest economy.Industrial companies made profits of 3.83 trillion yuan between January and August, 10 percent higher than the same period last year. China's National Bureau of Statistics did not give a reason for the August decline.The monthly decline adds ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln