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China consumer inflation rate rises to 1.4pc in June: govt BEIJING: The consumer inflation rate in China rose to 1.4 percent in June, authorities said Thursday, though economists cautioned further stimulus was needed in the world's second-largest economy as upward price pressures remained subdued.The reading for the consumer price index (CPI), a main gauge of inflation, released by the National Bureau of Statistics (NBS) was higher than May's 1.2 percent and slightly above the median estimate of 1.3 percent in a Bloomberg News survey of economists.Moderate inflation can be a boon to consumption as it pushes consumers to spend before prices go up, while falling prices encourage shoppers to delay purchases and companies to put off investment, both of which can hurt growth.Inflation has been weak in China as economic growth slows and commodity prices have fallen, with some economists raising the threat of deflation -- a debilitating and sustained fall in prices.The economy expanded 7.4 percent last year, its ...

TPP deal could be sealed in the next month: Australia SYDNEY: Australian Trade Minister Andrew Robb Thursday said a massive Pacific trade pact could be concluded in the "next three to four weeks" when the 12 nations involved are due to meet.Expectations that the Trans-Pacific Partnership (TPP), an accord that would encompass 40 percent of global trade, would be sealed this year increased after US President Barack Obama was last month given fast-track authority by Congress to negotiate such deals."The critical thing was for the ...
Indonesian exports relieve robusta coffee tightness in Europe LONDON: A weak rupiah currency and a larger crop are boosting Indonesia robusta coffee shipments to Europe, alleviating short term supply tightness caused by Vietnamese producers hoarding. Top producer Vietnam and third biggest grower Indonesia are the leading suppliers of robustas, mainly used for instant coffee, to the European market. Robusta coffee bean exports from Indonesia's main coffee growing area in Sumatra rose 22.1 percent from a year earlier in June, and European traders said ...
German factory orders slip in May FRANKFURT: German industrial orders, a key measure of demand for goods in Europe's top economy, slipped slightly in May, the economy ministry said on Monday. Provisional official data showed a decrease of 0.2 percent month-on-month, following an increase of 2.2 percent in April. Analysts polled by financial services firm FactSet had pencilled in a slightly bigger drop of 0.4 percent for May.The decline was attributable to weaker domestic demand for German-made goods. Domestic orders fell ...
Berlin sees no automatic need for Greek debt restructure BERLIN: Germany said Friday that figures released by the International Monetary Fund on Greece's critical financing needs "by no means" automatically necessitate restructuring of its huge debt.Finance Ministry spokesman Martin Jaeger said despite IMF data published a day earlier that painted a grim overall fiscal picture, "by no means can one deduce that a debt restructure is imperatively required."Days before Greeks vote in a referendum on whether to accept its bailout terms, the IMF said ...
Russia, Ukraine trade barbs over politics, gas as hostility deepens MOSCOW/KIEV: Russia expressed "deep concern" on Thursday over Ukraine's plans to decentralise power as part of a peace deal with separatist rebels, underlining the gulf between Moscow and Kiev as the conflict rumbles on despite a ceasefire. Differing interpretations of a February peace agreement signed in Minsk, Belarus, to end the fighting in Ukraine's eastern regions have left the conflict in limbo, with more than 6,500 people killed since it broke out in April last ...
Sweden cuts key interest rate to record low -0.35pc STOCKHOLM: Sweden's central bank on Thursday cut its repo rate by 10 basis points to a record low -0.35 percent, to avoid a strengthening of the krona amid the Greek crisis."Inflation is rising and economic activity in Sweden is continuing to strengthen. But uncertainty abroad has increased and it is difficult to assess the consequences of the situation in Greece," the bank said in a statement."In this uncertain environment, monetary policy needs to be even ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune-July
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln