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Eurozone crisis weighing on credit to households: ECB

Frankfurt: Bank lending to private households in the eurozone contracted again in November as the region’s debt crisis continues to dampen demand for credit, data showed on Thursday.

Eurozone bank loans to the private sector shrank by 0.8 per cent in November from the level in the same month in 2011 after already shrinking by 0.8 per cent in


Japan minister pledges Myanmar debt relief, loans

Naypyidaw: Japan’s new government will stand by pledges to waive Myanmar debt and extend new loans, its finance minister said Thursday on a visit to boost economic ties with the former army-ruled nation.

Taro Aso also agreed to consider Japan’s involvement in the planned multi-billion dollar Dawei deep-sea port in a meeting with r


Spain jobless queue shrinks in December

Madrid: Spain’s jobless queue shrank in December but numbers were still up sharply over the past year of biting recession, hovering near five million people, government figures showed Thursday.

The number of people registered as unemployed in the Eurozone’s fourth-biggest economy fell by 59,094, or 1.2 per cent, to 4.85 million in the month to D


Brazil posts smallest trade surplus in a decade

Brasilia: Brazil posted its smallest annual trade surplus in a decade last year as a sluggish global economy curbed demand for its products despite government efforts to boost exports.

Brazil’s trade surplus fell 35 per cent to $19.44 billion (Dh71.3 billion) from the prior year, the weakest performance since 2002, Trade Ministry data showed on W


German jobless rate up to 6.7%

Berlin: Germany’s unemployment rate crept up to 6.7 per cent in December due to seasonal factors and a more sluggish economy, but the labour market remained robust and the average number of people out of work last year was the lowest in more than two decades.

The unadjusted jobless rate rose from 6.5 per cent in November, the Federal


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