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Deutsche Bank to help ECB run ABS purchase plan FRANKFURT: Deutsche Bank is one of several financial firms chosen by the European Central Bank to help carry out its plans to buy asset backed securities, two people familiar with the situation said on Thursday. The ECB plans to buy asset-backed securities, which repackage loans, later this year as part of a wider programme to stimulate the euro zone economy. Germany's Manager Magazin Online reported earlier on Thursday that Deutsche Bank was one of four asset managers chosen to advise the ECB on the plan. The other managers chosen were ING, State Street and Amundi, the magazine said. Two people familiar with the situation confirmed to Reuters that Deutsche Bank was one of the four. Deutsche Bank and the ECB declined to comment. Copyright Reuters, 2014

India's Bharti Q2 net profit more than doubles MUMBAI: Indian mobile carrier Bharti Airtel said second quarter net profit more than doubled to 13.83 billion rupees ($225 million), from 5.12 billion rupees a year ago, beating analysts' estimates as the country's top telecom operator added more subscribers for its mobile data services. Analysts, on average, were expecting Bharti Airtel, headed by Indian billionaire Sunil Mittal and nearly a third owned by Singapore Telecommunications, to earn 12.86 billion rupees in profit. Copyright Reuters, 2014 ...

VW profit jumps on record Audi, Porsche sales BERLIN: Germany's Volkswagen posted higher-than-expected operating profit in the third quarter, boosted by European and Chinese buyers of its luxury Audi and Porsche models.Underlying earnings at Europe's largest automotive group jumped 16 percent to 3.23 billion euros ($4.07 billion), VW said on Thursday, beating the top-end forecast of 3.09 billion euros in a Reuters poll of analysts.Buoyed by a recovery in core European markets, the German group stuck to its guidance for a 2014 operating ...

Volkswagen confirms full-year targets after 'robust' Q3 FRANKFURT: Volkswagen, Europe's biggest car maker, said on Thursday it is sticking to its full-year profit targets following a strong rise in profits in the third quarter."The Volkswagen group reported a robust performance in the first nine months of 2014, despite the ongoing uncertain market environment," said chief executive Martin Winterkorn."Given the group's current performance, I am convinced that we will meet our goals for fiscal year 2014," he said. Volkswagen said its net profit ...

Lufthansa says dividend payout may be limited this year BERLIN: Lufthansa said falling interest rates and the costs involved with outsourcing part of its IT division may limit the size of its dividend payment this year.Lufthansa is working on a new dividend policy after changing the way it depreciates its aircraft.Chief Financial Officer Simone Menne told analysts and journalists on Thursday that management would discuss dividend policy at a board meeting in December.Lufthansa will also provide more details of its planned new long-haul low-cost ...

India's Maruti Suzuki net profit up 29pc, beats estimates MUMBAI: India's biggest carmaker Maruti Suzuki India Ltd beat analyst estimates with a roughly 29 percent rise in its quarterly net profit, helped by higher car sales and a positive foreign exchange impact.Maruti Suzuki, controlled by Japan's Suzuki Motor Corp , said its net profit for the July-September quarter was 8.63 billion rupees ($140.37 million) compared with 6.70 billion rupees a year earlier.Analysts expected the company to report a net income of 8.28 billion rupees, ...

Japan's NEC rebounds from losses on smartphone exit TOKYO: Japan IT firm NEC said Thursday it had swung back to profitability in the six months to September, after it exited from the smartphone market as part of a broader restructuring.The firm posted a net profit of 12.5 billion yen ($114 million) in the April-September period, reversing a 26.2 billion yen loss a year earlier.Operating profit ballooned to 21.5 billion yen from a year-earlier profit of 379 million yen, as the firm cut away ...


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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln