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China eases with reserve cut for rural banks: report SHANGHAI: China will cut the amount of funds that rural banks must keep in reserve, state media said, in a small easing of monetary policy by the government as it tries to provide support to the slowing economy.The powerful State Council, China's cabinet, said it would allow a cut in the reserve requirements for some county-level commercial banks and cooperative banks in rural areas, the official Xinhua news agency said late Wednesday, but gave no details.The announcement came on the day the government said gross domestic product grew 7.4 percent year-on-year in the first quarter, sharply down from 7.7 percent the previous three months owing to a slow global recovery as well as domestic structural reforms."Currently, downward pressure on economic growth still exists," the State Council was quoted by Xinhua as saying, adding the government would plan for "stable" growth.Some analysts have forecast the government could cut reserve requirements for ...

China economy stronger than data suggests BEIJING: China's economy is doing better than official data suggests, the Commerce Ministry said a day after figures showed growth at an 18-month low, adding that targets for exports and imports this year should be met despite some caution over the trade outlook. Ministry spokesman Shen Danyang said a rise in export deliveries, a customs department poll of exporters and growth in trade in individual provinces all showed that the economy was in good shape. ...
Taiwan's TSMC books 8th straight quarterly profit growth TAIPEI: Taiwan Semiconductor Manufacturing Co Ltd (TSMC) reported its 8th straight quarter of profit growth, as the world's largest contract chip maker booked wider profit margins following a boost in demand from mobile device manufacturers. Asia's 10th biggest company by market value has been able to consistently profit thanks to the spread of smartphones and its ability to produce a high degree of defect-free chips compared with rivals such as Intel Corp, Samsung Electronics Co ...
S&P: India's ratings to depend on next govt econ, fiscal policies MUMBAI: Standard and Poor's may upgrade India's outlook if the government that is elected next month addresses some of the country's fiscal and economic challenges through steps such as passing a goods and services tax. "If in the future they implement policies that effectively addresses some of the credit weaknesses that I have highlighted, we could revise the outlook to stable again," said S&P senior director Kim Eng Tan in a webcast. "In the absence ...
Yellen says full US employment coming into view, slowly NEW YORK: Federal Reserve Chair Janet Yellen said on Wednesday the US economy appeared to be slowly moving toward full employment, but that it would need help from the central bank for some time to come.In her second public speech since taking the Fed's helm, Yellen said it was "quite plausible" the economy would be back to near full employment and a healthier level of inflation by the end of 2016."I do think we are ...
US economic activity increased in most regions: Fed WASHINGTON: US economic activity picked up in recent weeks as a weather-related drag lifted, the Federal Reserve said on Wednesday.In its Beige Book report of anecdotal information on business activity collected from contacts nationwide, the US central bank said eight of its 12 districts characterized growth as "modest to moderate."Chicago reported that growth had picked up, while New York and Philadelphia said activity had rebounded from slowdowns related to severe weather earlier in the year."Reports ...
British unemployment plunges to 5-year low, pay grows LONDON: Britain's unemployment rate unexpectedly dropped in the three months to February, reviving speculation the Bank of England will start raising interest rates earlier than it has signalled.Wages also caught up with inflation for the first time in nearly four years, helping the government to ward off charges of a cost-of-living crisis before next year's national election.Sterling jumped and government debt prices fell after the Office for National Statistics reported on Wednesday that the jobless ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln