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Brazilian homebuilder Gafisa 4th-quarter profit falls 99pc RIO DE JANEIRO: Net income at Brazil's Gafisa SA slid nearly 100 percent in the fourth quarter as sales fell, costs rose and the middle and low-income homebuilder had to do without a one-time, year-earlier gain, the company said in a statement late Friday.Gafisa reported a consolidated net profit of 8.05 million reais ($2.84 million) in the three months ending Dec 31, 99 percent less than the 921.3 million reais reported a year earlier.Six analysts surveyed by Reuters were divided on whether the company would show a loss or a gain, but the four who expected a gain forecast an average profit of 7.9 million reais, an estimate in line with the result.The average of the two other estimates was for a loss of 14.7 million reais.Gafisa only launched projects within its low-income Tenda division in the quarter as it struggled to reduce a backlog of unsold residences. The company's ...

Obama condemns 'brutal, vicious' Nemtsov killing WASHINGTON: US President Barack Obama condemned what he called the "brutal" and "vicious" murder of Russian opposition leader Boris Nemtsov, a fierce critic of President Vladimir Putin who was shot dead in Moscow on Friday."We call upon the Russian government to conduct a prompt, impartial, and transparent investigation into the circumstances of his murder and ensure that those responsible for this vicious killing are brought to justice," Obama said in a statement."Nemtsov was a tireless ...
Mexico captures Knights Templar drug cartel leader MEXICO CITY: Mexican police nabbed Friday most-wanted drug lord Servando Gomez, a former schoolteacher whose Knights Templar cartel tormented western Michoacan state, smuggled drugs to the US and illegally shipped iron ore to China.The man nicknamed "La Tuta" was detained by federal officers without a shot fired as he exited a house in Morelia, Michoacan's capital, following months of intelligence work, officials said.Gomez, 49, was taken to Mexico City and frogmarched in front of television ...
US, Cuba seek breakthrough in new round of historic talks WASHINGTON: US and Cuban negotiators launch a second round of historic talks on Friday aimed at overcoming half a century of enmity and restoring full diplomatic ties.After an initial meeting in Havana in January which ended with little apparent breakthrough, the teams were to meet at the State Department -- the hub of US global diplomacy.The hope is that within the coming months both nations will agree to reopen embassies in each other's capitals and ...
Obama to attend Selma 50th anniversary WASHINGTON: President Barack Obama will travel next week to an Alabama town famous for a march that was forcibly broken up by police 50 years ago in a seminal moment for black civil rights in the United States."Next week, the world will turn its eyes to Selma again," said Obama, the first black president of the United States, who will visit with his wife Michelle and two daughters to commemorate the 50th anniversary of the ...
Kerry to meet Russian, Iranian FMs next week WASHINGTON: US Secretary of State John Kerry will meet next week with his Russian and Iranian counterparts seeking an end to fighting in Ukraine and to advance a nuclear deal with Iran, US officials said Thursday.His meeting with Russian Foreign Minister Sergei Lavrov in Geneva early next week would come days after Kerry accused Russian officials of lying "to my face" over Moscow's role in the conflict in Ukraine.State Department spokeswoman Jen Psaki said Kerry ...
US jobless claims rise WASHINGTON: Americans filed more claims for US unemployment insurance benefits last week, pushing the number back above 300,000, according to Labor Department data released Thursday.Initial jobless claims totaled 313,000 in the week ending February 21, an increase of 31,000 from the prior week's upwardly revised level.The Labor Department said there were no special factors influencing the latest weekly claims number, an indicator of the pace of layoffs.The four-week moving average of new claims, which helps ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln