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China Oct home prices fall y/y in 67 of 70 cities polled BEIJING: Average new home prices in China's 70 major cities fell 2.6 percent in October from a year earlier, the second consecutive month showing an annual fall, Reuters calculated from official data published on Tuesday. The data also showed that home prices in China fell in 67 of the 70 cities surveyed in October. Compared with the previous month, home prices were down 0.8 percent in October, a sixth consecutive monthly drop following September's fall of 1.0 percent, the calculations showed. Economists believe the cooling housing market poses the biggest risk to the world's second-largest economy, even as Beijing tries to stimulate overall growth. The National Bureau of Statistics said new home prices in Beijing were down 1.3 percent higher in October compared with a year earlier, versus September's increase of 0.4 percent. They dropped 1.1 percent from September. Shanghai's home prices were down 2.0 percent in October from a ...

India, Australia vow closer security and trade ties SYDNEY: India and Australia vowed closer defence and security ties Tuesday while stressing the importance of economic cooperation a day after Canberra sealed a huge trade pact with fellow Asian superpower China.India's charismatic leader Narendra Modi, who was given a rock star welcome by thousands of rapturous supporters in Sydney on Monday, described the closer ties as "natural"."This is a natural partnership emerging from our shared values and interests and strategic maritime locations," he said ...
China, India to court Pacific nations in Fiji SUVA: Rival suitors India and China step up their courtship of Pacific island nations this week when Narendra Modi and Xi Jinping head to Fiji following the Group of 20 summit in Australia. Indian Prime Minister Modi and Chinese President Xi will both hold mini summits during their Fiji stopovers, meeting with up to 12 regional leaders as they bid for the support of one of the largest voting blocs in the United Nations. Sandra ...
Indonesian president raises subsidized fuel price by over 30pc JAKARTA: Indonesia's president raised the price of subsidised gasoline and diesel by more than 30 percent on Monday, a move that could save Southeast Asia's biggest economy 100 trillion rupiah next year.Joko Widodo, who became Indonesia's seventh president on Oct. 20, raised the price of gasoline and diesel by 2,000 rupiah ($0.16) per litre. Gasoline previously cost 6,500 rupiah a litre, and diesel 5,500 rupiah.Finance Minister Bambang Brodjonegoro added that he expected inflation to rise ...
PM adviser: sales tax hike took Abenomics in negative direction TOKYO: Japan's economy is a bit unstable and the sales tax increase in April took "Abenomics" in a negative direction, one of Prime Minister Shinzo Abe's key economic advisers said on Monday.Koichi Hamada, professor emeritus of economics at Yale University, was speaking an event organised by the Foreign Press Center. His comments came after data showed the economy unexpectedly slipped into recession in the third quarter. The data is seen as setting the stage for ...
China remains unshakeable in pursuing peaceful development: Xi SYDNEY: China remains unshakeable in its resolve to pursue peaceful development, President Xi Jinping said on Monday during an address to the Australian parliament in Canberra.Australian Prime Minister Tony Abbott earlier said the two countries would sign a landmark free trade deal more than a decade in the making, opening up markets worth billions to Australia and loosening restrictions on Chinese investment.Copyright Reuters, 2014 ...
Japan ruling party candidate loses Okinawa poll, setback for US base move TOKYO: A candidate backed by Japanese Prime Minister Shinzo Abe's party was soundly defeated in a key local election on Sunday, Kyodo news agency reported, in a blow to plans to relocate a controversial U.S. air base on Okinawa island, home to the bulk of U.S. military forces in Japan.Delays in relocating the U.S. Marines' Futenma air base in Okinawa have long been an irritant in U.S.-Japan relations. Abe is keen to make progress on ...

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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln