| (AFX UK Focus) 2007-11-13 11:14 GMT: Lithuania 9 mth current account deficit surges 47 pct to 2.58 bln eur
Vilnius (Thomson Financial) - Lithuania's current account deficit soared by 47 pct in the first nine months of 2007 versus the year-earlier figure, to reach 2.58 bln eur or 12.7 pct of Gross Domestic Product (GDP), the Bank of Lithuania reported. The central bank attributed the increase to a 2.1 bln litas surge in foreign trade deficit, which accounted for 75 pct of the overall current account deficit rise. tf.TFN-Europe_newsdesk@thomson.com afp/ra COPYRIGHT Copyright Thomson Financial News Limited 2007. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News. .
Russian Ctrl Bk: Reserves Nov 9 $455.2B Vs $447.9B Nov 2
MOSCOW (Dow Jones)--Russia's gold and foreign exchange reserves rose $7.3 billion in the week to Nov. 9 to a new record high of $455.2 billion, the central bank said Thursday. That follows a rise of $6.6 billion the previous week. Reserves have been rising since the beginning of October under the apparent influence of renewed capital inflows, coupled with the country's habitual current account surplus. In addition, the dollar's recent decline against the euro has inflated the dollar-denominated value of those reserves that the central bank holds in euros, over 40% of the total. The central bank doesn't comment itself on developments in its reserve portfolio. Central bank Web site: http://www.cbr.ru -By Will Bland, Dow Jones Newswires (+7 495) 974 8055; william.bland@dowjones.com (END) Dow Jones Newswires November 15, 2007 02:55 ET (07:55 GMT) Copyright 2007 Dow Jones & Company, Inc.
Reuters Canada Business Summary
KLEINMOND, South Africa (Reuters) - Finance chiefs from the G20 economic powers end two days of talks on the global economy on Sunday as a sinking U.S. dollar, a painful credit crunch and soaring oil prices threaten stability. The Group of 20 mostly industrialized and emerging economies were due to release a communique at 6:30 a.m. EST detailing resolutions, with the focus expected to be on currency imbalances and the risks to global growth from credit woes stemming from the U.S. subprime mortgage crisis. Risks to world growth have grown: Dodge OTTAWA (Reuters) - Risks to world economic growth have risen in the past month amid unprecedented foreign exchange volatility, Bank of Canada Governor David Dodge said on Saturday. Dodge, in a conference call, said those risks would be taken into account when setting Canadian monetary policy, raising the possibility of an interest rate cut earlier than previously expected.
Africa: Remarkable Change and Progress in Africa's Economic Development
Henry M. Paulson, Jr.,Cape Town On the second leg of a trip to three African countries, the Secretary of the U.S. Treasury, Henry M. Paulson, Jr., delivered this address to the Corporate Council on Africa's U.S.-Africa Business Summit in Cape Town. Africa is a unique continent: diverse in people and heritage, with some of the most spectacular geography and biodiversity on the planet. All too often, however, those who do not know Africa well associate the continent with issues like famine, conflict and disease. Tonight, I will talk about a much different Africa, one with which I suspect most of you are more familiar – a continent of diverse nations increasingly defined by economic opportunity and promise. .
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