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India's end-March external debt $475.8bn: RBI MUMBAI: India's external debt stood at $475.8 billion as of end-March, up 6.6 percent from a year earlier, the Reserve Bank of India said in a release on Tuesday. India's external debt-to-gross domestic ratio (GDP) stood at 23.8 percent as of end-March, compared with 23.6 percent year ago. "Excluding the valuation gains due to appreciation of US dollar against the Indian rupee and other major currencies, the increase in external debt by end-March 2015 over its end-March 2014 level would have been higher at $45.7 billion," the RBI said. The country's ratio of short-term residual debt to forex reserves fell to 54.2 percent in March-end from 57.4 percent a year earlier, the RBI said. Copyright Reuters, 2015


US yields hit session highs on stock futures gains NEW YORK: Longer-dated US Treasuries yields rose to session highs in early US trading on Tuesday as US stock index futures rose on hopes of a last-minute debt deal for Greece, with the cash-strapped nation poised to miss a debt repayment to the International Monetary Fund.Benchmark 10-year Treasuries yields were last 2.362 percent, up 3 basis points from late on Monday, while the 30-year yield was up 3 basis points to 3.124 percent.Copyright Reuters, 2015 ...

Suzuki Motor CEO names son to succeed him as president TOKYO: Suzuki Motor Corp's 85-year-old CEO Osamu Suzuki named his eldest son as the new president of Japan's fourth-biggest automaker, easing investor concerns over the firm's succession plan and boosting the company's shares by more than 5 percent.Executive Vice President Toshihiro Suzuki took over the role from his father as president and chief operating officer effective Tuesday. Osamu Suzuki remains as CEO and chairman. "If I don't say much and stop working, I'll get dementia, ...

Sony plunges 8.25pc on massive share sale plan TOKYO: Shares in Sony plunged 8.25 percent Tuesday on dilution fears after the Japanese electronics giant announced plans to raise $3.6 billion through stock and bond sales.The stock closed at 3,461.5 yen on the Tokyo Stock Exchange, down 8.25 percent from the previous day, while the benchmark index ended up 0.63 percent.Sony plans to raise a total of 441 billion yen ($3.6 billion) -- more than 10 percent of the company's market capitalisation as of ...

South Korea selects Airbus for $1.33bn military contract SEOUL: European aerospace giant Airbus won a $1.33 billion deal Tuesday to supply air refuelling tankers to South Korea, beating US rival Boeing, a state agency said.Under the 1.488 trillion won deal, Airbus Defence and Space will supply four A330 MRTT aircraft by 2019 to South Korea's air force, said the military's procurement agency.The Airbus model was selected over Boeing's KC-46A, it said.South Korea's military procurement needs, especially where the air force is concerned, have ...

Chinese media see international bank as diplomatic coup BEIJING: The creation of the Chinese-led Asian Infrastructure Investment Bank is a bigger coup for Beijing than its hosting of the 2008 Olympics, state-run media said Tuesday after 50 countries signed its legal framework.China was spurred to create the AIIB after "unfair treatment" by Washington-led institutions, the Global Times said in an editorial, apparently referring to the World Bank and International Monetary Fund.The AIIB has been viewed by some as a rival to the World ...

ECB chief Mario Draghi in front line of Greek crisis FRANKFURT: European Central Bank chief Mario Draghi famously vowed in 2012 to "do whatever it takes" to save the euro.As the single currency area hurtles towards a possible "Grexit" three years later, the 67-year-old central banker is seeing that pledge put to the test.With the debt-battered Greek economy essentially cut off from normal financing, the breakdown of talks between Athens and its creditors last weekend has placed Draghi -- who insists the ECB is not ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln