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Greek economy grew by 0.9pc in Q2 ATHENS: Greece's economy grew by 0.9 percent in the second quarter, official date showed Friday, improving on the 0.8 percent figure reported in a flash estimate earlier in August."Seasonally adjusted data indicate that in the second quarter of 2015 (output) increased by 0.9 percent compared with the first quarter of 2015 against the increase of 0.8 percent that was calculated for the flash estimate," the state statistics agency said, as the country headed for early elections next month.In the first quarter, the economy grew by 0.1 percent, the agency said, also revising upward its previous estimate of zero growth released on August 13.The figures have come as a surprise as the period in question was marked by fraught talks between Greece and its international creditors that raised fears of a possible Greek exit from the eurozone.Greece on Friday appointed a caretaker government to hold elections expected on September 20, its ...

Zimbabwe's Mugabe inks law to stop mass lay-offs HARARE: Zimbabwean President Robert Mugabe has signed a new law banning mass lay-offs following a spate of redundancies that unions say put 30,000 people out of work, local media reported Friday.The Supreme Court ruled last month that employers could fire workers after giving them three months' notice and an equivalent of three months' salary.Several companies, including top mobile service provider Econet and the state-owned Zimbabwe Broadcasting Corporation, sacked many workers to tackle huge wage bills ...
Japan inflation flat, household spending slips in blow to Abenomics TOKYO: Japanese inflation fell back to zero in July while household spending dropped again, official data showed on Friday, as a slowdown in China threatens Japan's already precarious economic picture.The disappointing data are sure to stoke speculation that the central bank would be forced to unleash more stimulus later this year to counter a downturn in the world's number-three economy, which contracted in the April-June quarter.On Friday, government data showed core inflation, excluding volatile fresh ...
Philippine economic growth quickens to 5.6pc in Q2 MANILA: Philippine economic growth quickened to 5.6 percent in the second quarter, placing the country in a better position to weather the global fallout from China's economic woes, the government said Thursday.Boosted by higher government spending, the April to June gross domestic product (GDP) outpaced the 5.0-percent growth in the previous quarter, which was the lowest in three years, Economic Planning Secretary Arsenio Balisacan said.Government expenditures in the second quarter rose 3.9 percent compared to ...
China soybean imports slow after yuan devaluation SIEM REAP: Demand for soybeans from top importer China has slowed in the past few weeks, with bookings for November running at only half of levels seen a year ago, due to the recent devaluation of the yuan that has made overseas purchases expensive, traders said. Imports of the oilseed are coming under further pressure as the price of soybean products like soymeal have not risen much in yuan terms, making it uneconomical for crushers ...
Stock wobbles persist despite China rate cut SHANGHAI: Shanghai shares see-sawed in early trade Wednesday, after Beijing's move to cut interest rates and free up cash for banks failed to restore confidence in China's growth and arrest the crisis that has rattled global markets.China's central bank reduced interest rates and slashed the amount of money banks need to hold in reserve on Tuesday -- its second such double move in two months -- in a bid to bolster its economy and end ...
South African economy shrinks by 1.3pc in second quarter PRETORIA: South Africa's economy unexpectedly shrank in the second quarter, data showed Tuesday, raising fears of a recession as gross domestic product fell by an annualised 1.3 percent, surprising analysts who had predicted a small rise.The slowdown was across the board, with manufacturing, mining and agriculture industries lagging the most in Africa's most developed economy, plagued with nationwide power cuts and high unemployment."The real economy in the second quarter has performed negatively," Statistician-General Pali Lehohla ...


Index Closing Chg%
Arrow DJIA 16,643.01 0.07
Arrow Nasdaq 4,828.32 0.32
Arrow S&P 1,988.87 0.06
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,298.53 0.17
Arrow CAC-40 4,675.13 0.36
Arrow Nikkei 19,136.32 3.03
Arrow H.Seng 21,612.39 1.04
Arrow Sensex 26,392.38 0.61

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln