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China inflation jumps to 2.4pc year-on-year in March BEIJING: Chinese inflation accelerated to 2.4 percent year-on-year in March driven by higher food prices, official data showed Friday, though economists warned there was still a risk of deflation.The rise in the consumer price index (CPI) was up from the 2.0 percent seen in February but well below the 3.5 percent annual target set by Beijing and adds to unease about the economy after Thursday's disappointing trade data.It was also marginally below the median forecast of 2.5 percent in a survey of 16 economists by Dow Jones Newswires.The increase was chiefly driven by a 4.1 percent year on year increase in food prices, the National Bureau of Statistics (NBS) said in reporting the figures.February's weak result had prompted economists had warn that there was a growing risk of deflation in the world's second-largest economy. And after the latest data, they said that threat remained.The NBS said the producer price index ...

Africa's growth spurt challenged by twin deficits NEW YORK: Twin deficits threaten to end Africa's growth spurt. The International Monetary Fund and World Bank are basking in the continent's recent successes - devoting much of their meeting in Washington this week to discussing the region. Sub-Saharan Africa is enjoying the fastest growth since independence in the 1960s. But profligate spending and current account deficits can still spoil the party.Economic success stories are in short supply around the globe, given sluggish growth in ...
Bond sale shows Greece headed in 'right direction': IMF WASHINGTON: Greece's successful bond issue on Thursday shows that the long-troubled economy is approaching the end of its crisis, IMF chief Christine Lagarde said."I see the issuance that took place today, which was massively oversubscribed, as an indication that Greece is heading in the right direction and that the water-testing that the authorities wanted to do is really successful," Lagarde told reporters at the World Bank/International Monetary Fund annual spring meetings."There is still a lot ...
US jobless claims tumble to 7-year low WASHINGTON: New claims for US unemployment insurance benefits tumbled last week to the lowest level in seven years, government data released Thursday showed.Initial jobless claims, a sign of the pace of layoffs, totaled a seasonally adjusted 300,000 in the week ending April 5, a decrease of 32,000 from the previous week's upwardly revised figure of 332,000, the Labor Department said.The prior week's number was previously estimated at 326,000.The last time claims were so low was ...
Irish inflation rebounds in March DUBLIN: Ireland's annualised inflation rate accelerated to 0.2 percent last month, but still remained close to deflationary levels and below the eurozone average, official data showed on Thursday."Prices on average, as measured by the CPI (consumer price index), were 0.2 percent higher in March compared with March 2013," the Central Statistics Office (CSO) said in a statement.The rate had dropped to minus 0.1 percent in February, sparking fears of a damaging period of deflation, or ...
Japan consumers shun luxury goods after tax hike TOKYO: Japanese consumers are keeping their wallets firmly closed after the first sales tax rise in 17 years, with luxury items and appliances suffering as one major department store reported a 25 percent drop in sales.The precipitous plunge comes after millions of shoppers made a last-minute dash to stores before the national levy rose to 8.0 percent from 5.0 percent on April 1, a rise that sparked fears of a drop in consumer spending in ...
Top Hong Kong businessman sells $928mn Beijing property BEIJING: A company led by top Hong Kong businessman Richard Li said it has sold a landmark Beijing property for more than $900 million, fuelling speculation about the motive for Chinese property sales by his family.Pacific Century Premium Developments (PCPD) -- a firm chaired by Li, the younger son of Asia's richest man Li Ka-shing -- signed an agreement Tuesday to sell Pacific Century Place for $928 million, the firm said in a statement filed ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln