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Nepal And The World News In Brief ( 30 December 2013 - 5 January 2013)

  1 min 59 sec to read

Japan Close to Escape Deflation
Japanese consumer prices have risen at the fastest pace in five years, showing government policies to end its deflation problem may be taking effect. Core inflation excluding food rose 1.2% in November from the previous year, surpassing market expectations. Japan is now more than half-way towards meeting the central bank’s goal of achieving 2% inflation by about 2015.
 
China Debt Grows to $4.6 Trillion
China, the world’s second-largest economy has been struggling to arrest local government debt -- the result of easy credit and round after round of stimulus. The Chinese Academy of Social Sciences estimates local government debt reached 19.94 trillion yuan ($3.3 trillion) by the end of 2012. Local government debt accounts for most of total government debt, which is expected to have hit 27.7 trillion yuan ($4.56 trillion), or roughly 53% GDP.
 
France ‘to Avoid Double-Dip Recession’
France will avoid a recession this year, according to the country’s statistics body. INSEE said the economy will grow 0.4% in the last three months of the year, after contracting 0.1% in the third quarter. The body predicted growth of 0.2% for the whole of 2013. France was last in recession in the first quarter of this year.
 
India to be World’s 3rd Largest Economy by 2028
India is likely to overtake Japan in 2028 to become the third largest economy in the world after China and the US, according to London-based economic consultancy Cebr. According to Cebr’s World Economic League table report for 2013, India has lost a place in the league table in 2013 to Canada and is now the 11th largest economy in the world. 
 
Barclays Fined Over Data Loss
British banking giant Barclays has been fined $3.75 million by a US regulator for allegedly failing to keep proper electronic records, emails and instant messages. The shortcomings occurred between 2002 and 2012, said the Financial Industry Regulatory Authority (Finra). Finra said the bank failed to preserve data detailing its orders, confirmation of trades, records of accounts and other information.

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