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Swiss industry shrinks for fourth month as strong franc bites ZURICH: Swiss manufacturing shrank for a fourth straight month in April, as the strong Swiss franc hit industrial workforces and order books, but the economy should avoid a recession, data showed on Monday. The Swiss Purchasing Manager's Index (PMI) was unchanged at a seasonally adjusted 47.9 points in April, below the 50.0 point threshold that separates expansion from contraction. The index is compiled by the Swiss SVME purchasing managers' association and Credit Suisse. The Swiss National Bank (SNB) abandoned its cap of 1.20 francs per euro on Jan. 15, exposing the export-reliant economy to a surge in the franc, which makes Swiss exports more expensive. "Although such a PMI value points towards decreasing industrial activity, an overall economic recession is unlikely," the report said. The index tracking orders, a sign of future production, fell by 1.3 points to a reading of 46.7, suggesting orders evaporated at a faster pace in ...

Taiwan April exports seen falling for third month, CPI may ease again TAIPEI: Taiwan's exports in April probably fell for a third straight month, easing 4.8 percent from a year earlier, a Reuters poll showed on Monday. The annual export decline, however, would be narrower than the 8.9 percent fall recorded in March, the median forecast of 13 analysts found. The softness in exports was seen likely due to uncertain global demand and partly from a high base of comparison the previous year. The second quarter is ...
Spain may export two LNG cargoes in June MILAN: Spain may export two liquefied natural gas (LNG) cargoes in June, according to data released by gas grid operator Enagas. The export cargoes from Spain's Huelva and Sagunto terminals, respectively, are listed as provisional in the schedule, meaning they could be canceled if there is a lack of demand. Despite having Europe's largest LNG import capacity, Spain's economic troubles have dampened demand, prompting some re-loading of cargoes for export to more profitable destinations. Convergence ...
South Korea current account surplus widens in March SEOUL: South Korea's current account surplus rose to $10.4 billion in March as slumping oil prices slashed the country's import bill, new data showed Monday.The current account -- the broadest measure of foreign trade in goods and services -- has been in the black for more than three years.The March figure compared to a $6.4 billion surplus in February and $7.3 billion a year ago.Exports fell 8.4 percent from a year ago while imports shrank ...
Last overland route closure chokes off Lebanon exports BAR ELIAS: Lebanon's land exports to Gulf markets have been choked off, leaving millions of dollars in goods stranded after the closure of a vital crossing on the Syrian-Jordanian border last month.The Nasib border point was the last remaining gateway for Lebanese truck drivers transporting agricultural and industrial products to Iraq and Gulf countries.After Syrian rebels seized Nasib on April 1, these exports came to an abrupt halt."Exports by land have stopped entirely," said Ahmad ...
Malaysia Airlines 'exploring fleet options' KUALA LUMPUR: Malaysia Airlines Friday said it was "exploring fleet options" as the flag carrier sidestepped commenting on reports it is planning to sell off some of its planes to restructure after recent disasters and losses.Aviation website Leeham News and Comment reported Thursday that the airline was looking at selling or leasing out all of its six Airbus A380 planes.Flight Global website, citing industry sources, said the beleaguered company was looking at customers for some ...
China announces measures to boost creativity, jobs BEIJING: China on Friday announced measures aimed at promoting innovation and job creation, state media said, as authorities seek to ensure that slowing economic growth doesn't harm employment.According to measures released by the State Council, which functions as China's Cabinet, the government should broadly encourage entrepreneurship as well as startup enterprises to serve as a new engine for economic growth, the official Xinhua news agency said.The announcement comes as China's economic growth in 2014 registered ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,142.89 0.07
Arrow Nikkei 20,264.41 0.30
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,957.50 0.53

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Banking Review 2014

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