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German growth 'sluggish' until year-end: Bundesbank FRANKFURT: The German economy, Europe's biggest, will continue to show little sparkle at least until the end of the year, the German central bank or Bundesbank predicted on Monday. "The further deterioration in economic expectations and the stagnation of new orders point to a rather sluggish course of economic development in Germany until at least the end of 2014," the Bundesbank wrote in its latest monthly report.German gross domestic product (GDP) grew by a meagre 0.1 percent in the third quarter, after contracting by 0.1 percent in the preceding three months. And there is little sign that Europe's economic engine will gain traction in the coming months. "No marked recovery in important euro-area partner countries has yet materialised," the report stated."In the light of increased global risks together with uncertainty about the implications of some economic policy measures, there may be a delay before the recovery in corporate investment resumes," ...

Turkish Oct budget deficit 3bn lira ISTANBUL: The Turkish budget showed a deficit of 3 billion lira ($1.34 billion) and a primary surplus of 3.99 billion lira in October, the finance minister said on Monday, compared with a deficit of 9.2 billion and a primary deficit of 4.6 billion in September.In the first ten months of the year, the budget gave a deficit of 14.9 billion lira, and a primary surplus of 30.3 billion lira, according the data.Finance Minister Mehmet Simsek ...
Thailand trims outlook again as Q3 GDP hit by export slump BANGKOK: Thailand cut its outlook for the fourth time this year after its economy grew much less than expected in the July-September quarter, hit by a contraction in exports and tourism.The surprisingly weak outlook has raised doubts the junta can quickly turn the economy around even after pledging to roll out infrastructure projects and other steps to boost spending.Southeast Asia's second-largest economy grew 1.1 percent in the third quarter from the prior three months, and ...
Euro zone trade surplus jumps y/y in Sept on stronger exports BRUSSELS: A surge in exports boosted the euro zone trade surplus in September to more than double the previous month's value, data showed on Monday, pointing to a positive contribution from trade to euro zone's economic growth in the third quarter.The European Union's statistics office said that the unadjusted external trade surplus of the 18 countries sharing the euro rose to 18.5 billion euros in September from 10.8 billion a year earlier and a revised ...
Japan's slip into surprise recession paves way for tax delay, snap poll TOKYO: Japan's economy unexpectedly slipped into recession in the third quarter, setting the stage for Prime Minister Shinzo Abe to delay an unpopular sales tax hike and call a snap election two years before he has to go to the polls.The recession comes nearly two years after Abe returned to power promising to revive the economy with his "Abenomics" mix of massive monetary stimulus, spending and reforms, and is unwelcome news for an already shaky ...
Bulgaria Jan-Sept current account posts 1.1pc/GDP surplus SOFIA: Bulgaria posted a current account surplus equivalent to 1.1 percent of gross domestic product in the first nine months of 2014, compared with a surplus of 3.1 percent in the same period last year, central bank data showed on Monday.The surplus came to 432 million euros ($540 million) as of the end of September, down from 1.28 billion euros in the same period last year. The fall was mainly due to weaker exports.Foreign direct ...
Indian ports see shipping fuel demand jump as much as 25pc SINGAPORE: Demand for shipping fuel at major Indian ports has climbed in the past week by up to 25 percent as the cost of refuelling at Singapore, Asia's bunkering hub, soared following the collapse of the world's leading supplier, traders said.The announcement of OW Bunker's bankruptcy drove up shipping fuel prices in Singapore - one of the cheapest ports in Asia in which to refuel - to their highest in more than two years as ...


Index Closing Chg%
Arrow DJIA 17,814.94 0.02
Arrow Nasdaq 4,758.25 0.07
Arrow S&P 2,067.03 0.12
Arrow FTSE 6,731.14 0.02
Arrow DAX 9,861.21 0.77
Arrow CAC-40 4,382.31 0.32
Arrow Nikkei 17,407.62 0.29
Arrow H.Seng 23,843.91 0.21
Arrow Sensex 28,338.05 0.57

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln