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Canadian dollar falls amid Chinese economic worries, positive US data

TORONTO - The Canadian dollar was lower Friday as investors looked to China to see if it will make any moves to address its economic slowdown. The loonie fell 0.23 of a cent to 90.42 cents US. Markets have been antsy, awaiting indications of whether China will pump more stimulus into the world's second-largest economy, which has slowed to its lowest growth rate since the financial crisis. A preliminary reading of China's manufacturing, released Monday, showed activity at an eight-month low in March.

Egypt's Finance Minister says deficit will be higher, growth lower than earlier forecast

CAIRO - Egypt's new finance minister revised downward his predecessor's economic growth predictions Wednesday, saying it will remain around 2 or 2.5 per cent for this year. Hany Kadry Dimian also told reporters that the budget deficit will stay high at 12 per cent, citing strains on the budget from subsidies, a rising wage bill, and other causes despite the inflow of large aid from Gulf countries. Last year's deficit of 13.7 per cent was a record high, while growth was an anemic 2.1 per cent.

Pakistan economy grows beyond targets

Pakistan recorded five percent growth in the first quarter of the current fiscal year, the central bank said Friday, beating its target and almost doubling the figure for the same period last year. The State Bank of Pakistan data for the early months of the financial year began in July, 2013 said GDP grew by 5.0 percent, compared with only 2.9 percent in the first quarter of the last fiscal year. Nuclear-armed Pakistan, plagued by a bloody, destabilising Islamist insurgency and chronic power shortages, has struggled to energise its economy in recent years.

S. Korea unveils 3-year economic innovation plan aimed at raising growth potential

SEJONG, Feb. 25 (Yonhap) -- South Korea said Tuesday it will reform the country's overall regulatory system over the next three years to remove excessive red tape and bolster slumping corporate investment. The government will also overhaul public organizations by tackling their worsening debt problems and other "abnormalities," and boost domestic demand in order to reduce the country's heavy dependence on exports, making its economy less susceptible to the ups and downs of the global market.

Federal government ran $614-million deficit last November

OTTAWA - Ottawa ran a deficit of $614 million in November, smaller than a $1.7-billion shortfall in the same month a year earlier. The monthly fiscal monitor says the federal government's revenue was up by $1.7 billion compared with a year ago. The Finance Department says the figure reflects increases in most revenue streams. Meanwhile, program spending rose by $600 million and public debt charges fell by $100 million.

Pakistan hopes for privatisation forex boost

Pakistan is hoping a sell-off of government stakes in state-owned energy companies, banks and troubled airline PIA will bring a much-needed boost to foreign exchange reserves, a top official said Friday. Prime Minister Nawaz Sharif's privatisation programme cleared an important hurdle this week with the approval of financial advisers for the sale of shares in more than half a dozen state-owned companies.

China loans Pakistan $6.5 bn for nuclear plants

China has agreed to lend Pakistan $6.5 billion to help build nuclear power stations including a 2,200-megawatt plant in Karachi, as Beijing increases its involvement in the cash-strapped country. Prime Minister Nawaz Sharif announced the package at a briefing on Wednesday, saying it would help ensure an uninterrupted power supply. The loans are to be provided by Chinese state-owned Exim Bank and will be repaid at a concessional rate over 20 years, according to reports. A finance ministry spokesman confirmed the deal to AFP on Thursday.

Poland adopts deficit-curbing 2014 budget

Poland's parliament on Friday adopted a 2014 budget aimed at reining in spending, but the deficit will still fall wide of the European Union's limit. The public deficit is forecast to hit 3.6 percent of gross domestic product (GDP) next year, down from the 4.1 percent forecast for this year. Brussels recently gave Warsaw until 2015 to reel in the deficit to the 3.0 percent of GDP limit set under the EU's Maastricht Treaty. Approved by 235 votes against 213, the budget forecasts growth to hit 2.5 percent next year, with average annual inflation at 2.4 percent.

Roundup: KSE falls 0.48 pct amid profit-taking

Roundup: KSE falls 0.48 pct amid profit-taking ISLAMABAD, Dec. 10 (Xinhua) -- After gaining over 550 points in the last three trading sessions, Pakistan's Karachi Stock Exchange (KSE) recorded bearish trade Tuesday as investors booked profits at higher levels. However, Pakistan International Airlines (PIA) was chased by investors after the government announced its privatization. The benchmark KSE 100-Index declined by 0.48 percent, or 120.21 points, to close at 24,878.68 points on Tuesday, as against 24,998. 89 points witnessed on Monday.

Roundup: KSE keeps marching towards historic 25k barrier

Roundup: KSE keeps marching towards historic 25k barrier by Jawad Hussain ISLAMABAD, Dec. 5 (Xinhua) -- Bulls continued making their mark at Pakistan's Karachi Stock Exchange (KSE) on Thursday after taking a breather the other day as investors showed keen interest in cement, E
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