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Germany cuts growth forecasts to 1.2pc this year, 1.3pc next BERLIN: The German Economy Ministry slashed its forecasts for economic growth on Tuesday to 1.2 percent for this year and 1.3 percent for next year, blaming crises abroad and moderate global growth.That signals a strong downturn in expectations when compared with the ministry's April forecasts for growth of 1.8 and 2.0 percent respectively in Europe's largest economy.It estimated exports would increase by 3.4 percent this year and by 4.1 percent next year while imports would surge by 4.0 and 5.5 percent.That means foreign trade will subtract 0.1 percentage points from growth this year and detract an even-bigger 0.3 percentage points next year, the ministry said."The German economy is steering through rough foreign waters. Geopolitical crises have also increased uncertainty in Germany and moderate growth is weighing on the German economy," said Economy Minister Sigmar Gabriel, adding that domestic impetus nonetheless remained intact.Even forecasts for domestic demand were, however, downgraded to ...

British annual inflation slides to 1.2pc: official data LONDON: Britain's 12-month inflation fell sharper than expected in September, reaching a five-year low point of 1.2 percent, official data showed on Tuesday.Annual inflation had stood at 1.5 percent in August, the Office for National Statistics confirmed in a statement.Analysts' consensus forecast had been for the annual rate to dip to 1.4 percent, according to a survey by Dow Jones Newswires.Copyright AFP (Agence France-Presse), 2014 ...
German investor sentiment hits 22-month low: ZEW  FRANKFURT: Investment sentiment in Germany fell to its lowest level in nearly two years in October amid concerns about the economic fallout from geopolitical crises and lower-than-expected growth, a survey found on Tuesday.The widely watched investor confidence index calculated by the ZEW economic institute fell by 10.5 points to minus 3.6 points in October, its lowest level since November 2012, and the first time since then that it has been in negative territory, ZEW said ...
Peru's economy likely grew 1.15pc in August LIMA: Peru's economy likely grew by 1.15 percent in August from the same month in 2013, at about the same pace as in July, as mining activity shrank for a fifth straight month, a Reuters poll showed on Monday. The estimates of 14 local and foreign analysts ranged from an August expansion of between 0.5 percent to 2.3 percent. The median forecast of 1.15 percent would be slightly under the 1.16 percent year-on-year expansion in ...
France faces euro zone peer pressure to tighten spending plans LUXEMBOURG: France faced intensifying pressure from euro zone peers on Monday to tighten spending next year amid a growing rift over its plans to flout European budget rules. The dispute with France over its planned 2015 budget is a test of new euro zone powers to police public finances and is complicated by a wider debate about how to use government money to help the stagnating European economy. "The figures we are hearing from Paris ...
Panama Canal cargo traffic, toll revenue rise slightly in 2014 PANAMA CITY: Cargo traffic through the Panama Canal rose 2 percent in the 2014 fiscal year to 326.8 million tonnes, the Panama Canal Authority said on Monday. The small annual rise was helped by a bumper harvest in the United States, with farmers sending their crops via grain tankers to customers in Asia, Panama Canal Administrator Jorge Quijano said in a statement. He added that during the fiscal year, which runs from Oct. 1 to ...
China to woo private investors for water projects BEIJING: The pace of China's investment growth slowdown is set to ease in coming months as the country attracts private capital into key water conservancy projects, a senior official at the country's powerful economic planning agency said on Tuesday.Li Pumin, general secretary of the National Development and Reform Commision, made the comments at a press briefing.The remarks from the top economic planning agency followed a recent pledge by Premier Li Keqiang to launch major investment ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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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
WeeklyOctober 23, 2014
Reserves $13.465 bln