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April 11, 2014
April 9, 2014
The UK’s goods trade deficit with the rest of the world narrowed in February by more than expected, helped by a fall in imports, official data has shown.
The Office for National Statistics (ONS) said the trade deficit shrank to £9.1bn from £9.4bn in January.
Economists had expected a deficit of £9.2bn.
Imports fell 2.2% to £32.6bn in February, helping to offset a 1.6% fall in exports to £23.5bn – the lowest level of exports since November 2010.
The UK trade deficit is the measure of the difference between the value of goods the country exports compared with the value of the goods it imports.
The ONS said imports of aircraft and aircraft parts fell 46.3% in February, contributing to three quarters of the total fall in imports in the month.
Imports were also at their lowest level since April 2011.
The ONS said in the three months to the end of February, the goods trade deficit narrowed by £3bn to £26.2bn representing a fall in exports of 0.1% while imports were lower by 3.5%.
The UK’s goods trade deficit with non-EU countries narrowed sharply to £2.9bn n February from £3.9bn January, against forecasts for a gap of £3.4bn.
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Greece is set to return to the bond markets for the first time in four years, a key signal that its crisis-hit economy is welcomed once more by investors.
“Greece is back,” analysts at Credit Suisse proclaimed. After a grueling austerity program under the terms of its two bailouts international lenders, and possibly more importantly European Central Bank President Mario Draghi’s pledge to do “whatever it takes” to save the euro, Greece is no longer talked of as the first country likely to leave the single currency.
The Greek finance ministry confirmed in a news release on Wednesday that it would launch a five-year bond in the “near future”. It is seen auctioning around 2 billion euro ($2.78 billion) worth of debt.
The yield is expected to be around the 5.4 percent mark, a better investment return than the current 4.79 percent, as authorities want to offer a little sweetener to investors, according to CNBC sources in Athens.
Ahead of the auction, yields for 10-year Greek bonds fell to 5.951 percent on Wednesday–their first time below 6 percent in four years.
In comparison, Portuguese 10-year bonds were yielding 5.889 percent. 10-year German bunds yielded 1.583 percent and U.S. Treasurys yielded 2.7134 percent.
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March 26, 2014
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Stevens: Inflation outlook consistent with medium term target. Growth expected to continue and strengthen.
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February 26, 2014
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February 21, 2014
The EU ‘s Trade Commissioner said there was a “big difference between compromising and giving in” following the latest talks between the European bloc and the U.S. regarding a trans-Atlantic trade deal.
Trade Commissioner Karel De Gucht spoke to CNBC following two days of meetings with his U.S. counterpart, Michael Froman, in Washington, D.C.
De Gucht and Froman discussed the progress of the long-awaited trans-Atlantic Trade and Investment Partnership (TIIP) deal, which would unite two economic blocs which account for almost half the world economy and more than a third of global trade.
Responding to fears that an eventual deal might mean the EU would weaken existing regulatory standards, De Gucht told CNBC that the EU would not give in.
“You can make compromises that are win-win situations,” De Gucht said. “I can reassure that we are not going to change the basic legislation and regulation in Europe; we are not going to do that.”
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December 18, 2013
Japan’s trade deficit has ballooned 35 percent from a year ago as fuel imports have soared following the 2011 nuclear catastrophe.
The government said Wednesday the trade deficit for November totaled 1.29 trillion yen ($12.9 billion) compared to a deficit of 957 billion yen the same month in 2012. Imports grew 21 percent last month, even as exports improved 18 percent on year.
The sinking value of the yen is also weighing on Japan. A weak yen is a boon for exporters but adds to the fuel bill. Japanese are wary of nuclear power after the Fukushima Dai-ichi plant was damaged by an earthquake and tsunami.
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NZ business confidence has risen to its highest in almost 15 years, according to the December ANZ Business Outlook survey
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October 28, 2013
The Chinese mainland and Taiwan adopted 19 joint proposals at the Ninth Cross-Strait Economic, Trade and Culture Forum, including one encouraging the island’s cooperation with the newly built Shanghai Free Trade Zone (FTZ).
The proposal, announced by the Kuomintang (KMT) Party’s vice chairman John Chiang, states that comprehensive cooperation should be conducted between a pilot free economic area in Taiwan and the Shanghai FTZ as well as another three pilot economic areas in eastern China’s provinces of Fujian and Jiangsu.
The free economic zones established by the two sides should cooperate and learn from each other to achieve common development, according to the proposal.
The Shanghai FTZ, which began operating in late September, is a 28.78-square-km district billed as a test site for deepening market-oriented reforms and boosting economic vitality.
Wu Poh-hsiung, KMT honorary chairman, said at his speech at the closing ceremony that it is a “delight” that the two sides have planned or established FTZs and pilot free economic areas, which demonstrate their determination to face up to the challenges brought by the economic integration of other regions.
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