Economic News – suadi press agency

Economic News – suadi press agencyU.S. Pending Home Sales FallKuwait Stock Exchange ends in green zoneRussia's ruble hits lowest level in a yearGerman industry has high hopes for 2016 with further growth forecastPhilippines to join new China-led development bankJapanese stocks finish 2015 on 19-year end-of-year highAsian stocks mixed, with some cheered by overseas rallyEuropean shares slip as weak commodity prices weigh on markets

latest news Economic News – from saudi press agency http://www.spa.gov.sa En 0 1441465 Washington, Rabi'I 19, 1437, Dec 30, 2015, SPA — Fewer Americans signed contracts to purchase homes in November, an industry group said Wednesday, as the real estate market appears to have cooled after sales gains for much of 2015. The National Association of Realtors reported that its… http://www.spa.gov.sa/details.php?id=1441465 http://www.spa.gov.sa/details.php?id=1441465 Wed, 30 Dec 2015 20:07:31 +0300
The National Association of Realtors reported that its seasonally adjusted pending home sales index fell 0.9 percent to 106.9 last month. It was the lowest reading in 10 months, but still the index has risen 2.7 percent from a year ago.
Steady hiring and low mortgage rates lifted home sales for much of the year. But the pace of buying slowed after the end of the summer, with inventories tight and home values rising faster than incomes.
Pending sales are a barometer of future purchases. A lag of a month or two usually exists between a contract and a completed sale.

–SPA
20:07 LOCAL TIME 17:07 GMT
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0 1441365 KUWAIT, Rabi'I 19, 1437, December 30, 2015, SPA — Trading at Kuwait Stock Exchange (KSE) for Wednesday ended in the green zone. Price index was up by 28.48 points to reach 5.612.48, weighted index increased 2.5 points to stand at 381.84, while KSX 15 index climbed by 6.7 to read 902.3… http://www.spa.gov.sa/details.php?id=1441365 http://www.spa.gov.sa/details.php?id=1441365 Wed, 30 Dec 2015 14:54:51 +0300
Price index was up by 28.48 points to reach 5.612.48, weighted index increased 2.5 points to stand at 381.84, while KSX 15 index climbed by 6.7 to read 902.3 points.
Value of trades was KD 15,590,916.137 while share turnover was at 182,805,202 done through 3,030 deals.
–SPA
14:55 LOCAL TIME 11:55 GMT
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0 1441357 MOSCOW, Rabi'I 19, 1437, Dec 30, 2015, SPA — The Russian ruble has hit its lowest level in a year against the dollar as the country's economy is battered by a decline in the price of its oil exports, AP reported. The ruble dropped 1.3 percent in early morning trading on Wednesday… http://www.spa.gov.sa/details.php?id=1441357 http://www.spa.gov.sa/details.php?id=1441357 Wed, 30 Dec 2015 14:26:24 +0300
The ruble dropped 1.3 percent in early morning trading on Wednesday to 73.2 rubles per dollar, its weakest level in about 12 months. The national currency lost 40 percent of its value last year and is now 20 percent down compared to a year ago.

–SPA
14:26 LOCAL TIME 11:26 GMT
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0 1441335 Berlin, Rabi'I 19, 1437, December 30, 2015, SPA — The head of Germany's industry federation predicts economic output could grow by “almost 2 per cent” in 2016, reassuring businesses that Europe's biggest economy can fend off financial risks in the coming… http://www.spa.gov.sa/details.php?id=1441335 http://www.spa.gov.sa/details.php?id=1441335 Wed, 30 Dec 2015 13:54:02 +0300
economic output could grow by “almost 2 per cent” in 2016, reassuring
businesses that Europe’s biggest economy can fend off financial risks
in the coming year, dpa reported.

“The economic situation in Germany is still driven by a very positive
development in employment and private consumption,” Ulrich Grillo,
president of the Federation of German Industries (BDI), told dpa.

“The real income of households will grow significantly in the next
year,” he said. “The good development in the job market should
continue.”

Grillo’s prognosis is more optimistic than that of many economists.

He concedes that many factors remain uncertain as Germany tries to
accommodate a steady wave of migrants and refugees to the country,
which has become a top destination in Europe for people fleeing war
and misery in the Middle East and Africa.
Grillo also cited the cheap price of oil and modest interest rates as
factors in driving German business in the new year, while unstable
markets in developing countries such as Brazil or China threatened a
knock-on effect for global trading.
–SPA
13:54 LOCAL TIME 10:54 GMT
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0 1441295 Manila, Rabi'I 19, 1437, Dec 30, 2015, SPA — The Philippines will join a China-led financial institution aimed at supporting infrastructure projects in Asia and the Pacific, dpa quoted the government as saying Wednesday. President Benigno Aquino gave the Department… http://www.spa.gov.sa/details.php?id=1441295 http://www.spa.gov.sa/details.php?id=1441295 Wed, 30 Dec 2015 12:16:22 +0300
institution aimed at supporting infrastructure projects in Asia and
the Pacific, dpa quoted the government as saying Wednesday.

President Benigno Aquino gave the Department of Finance the authority
to sign the membership agreement for the Asian Infrastructure
Investment Bank (AIIB) before the deadline on Thursday.

“AIIB is a promising institution addressing investment needs, and
will help close financing gaps in many countries,” Finance Secretary
Cesar Purisima said.

The Philippines will be the last among 57 prospective founding
members to sign the agreement, which entered into force on December
25.

Under the agreement, the Philippines must contribute 196 million
dollars, payable in five years, as paid-in capital. The
Beijing-headquartered AIIB’s total capital stock is 100 billion
dollars.

–SPA
12:17 LOCAL TIME 09:17 GMT
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0 1441294 Tokyo, Rabi'I 19, 1437, Dec 30, 2015, SPA — Japanese shares edged up Wednesday for the third consecutive day of increase, as investor sentiment was lifted by overnight gains on Wall Street, according to dpa. The benchmark Nikkei 225 Stock Average ended… http://www.spa.gov.sa/details.php?id=1441294 http://www.spa.gov.sa/details.php?id=1441294 Wed, 30 Dec 2015 12:14:22 +0300
consecutive day of increase, as investor sentiment was lifted by
overnight gains on Wall Street, according to dpa.

The benchmark Nikkei 225 Stock Average ended at its highest year-end
closing level in 19 years.

The Nikkei added 51.48 points, or 0.27 per cent, to close at
19,033.71, ending above the 19,000 mark for the first time in two
weeks.

The broader Topix index was up 3.91 points, or 0.25 per cent, at
1,547.3.

The Japanese stocks rose sharply in 2015 as export-oriented issues
were bolstered by a weaker yen amid aggressive monetary easing
measures introduced by the Bank of Japan in April 2013.

The Tokyo markets are closed from Thursday to Sunday for New Year
holidays. Trading resumes on Monday.

–SPA
12:14 LOCAL TIME 09:14 GMT
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0 1441288 TOKYO, Rabi'I 19, 1437, Dec 30, 2015, SPA — Asian shares were mixed in Wednesday trading, with only some markets cheered by an overseas rally, AP reported. Japan's benchmark Nikkei 225 gained 0.3 percent to finish at 19,037.31, but trading was muted on the last trading day of the… http://www.spa.gov.sa/details.php?id=1441288 http://www.spa.gov.sa/details.php?id=1441288 Wed, 30 Dec 2015 11:50:03 +0300
Japan’s benchmark Nikkei 225 gained 0.3 percent to finish at 19,037.31, but trading was muted on the last trading day of the year ahead of the New Year’s holiday. South Korea’s Kospi dipped 0.3 percent to 1,961.31. Shanghai Composite added 0.1 percent to 3,566.87. Other regional shares were also mixed, rising in Indonesia but dropping in Singapore.
Technology and health care companies led a broad rally in U.S. stocks on Tuesday. The Dow Jones industrial average rose 192.71 points, or 1.1 percent, to finish at 17,720.98. The S&P 500 index gained 21.86 points, or 1.1 percent, to 2,078.36. The Nasdaq composite added 66.95 points, or 1.3 percent, to 5,107.94.
Benchmark U.S. crude fell 67 cents to $37.20 a barrel on the New York Mercantile Exchange, losing some of the overnight price recovery. Brent crude, used to price international oils, slipped 39 cents to $37.40 a barrel in London.
The dollar rose to 120.40 yen, up from 120.37 yen late Tuesday. The euro slipped to $1.0931 from $1.0977.

–SPA
11:50 LOCAL TIME 08:50 GMT
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0 1441286 LONDON, Rabi'I 19, 1437, December 30, 2015, SPA — European stock markets fell on Wednesday, as weak commodity prices impacted the shares of mining and energy companies, Reuters reported. The pan-European FTSEurofirst 300 index fell 0.3 percent, while the euro zone's… http://www.spa.gov.sa/details.php?id=1441286 http://www