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Prices dip before seven-year note auction NEW YORK: US Treasuries prices fell on Thursday before the government is due to sell $29 billion in new seven-year notes on Thursday, the final auction of this week's $90 billion in new fixed-rate, short- and intermediate-dated supply.Weak demand for the Treasury's $35 billion sale of five-year notes on Wednesday sent yields higher, with bidding the weakest since 2009 as investors stepped away. US dollar weakening against the euro added to bond weakness.Seven-year notes are popular with many asset managers, but they may demand higher yields, or lower prices, to step in at the auction."I do think there is underlying demand, but yesterday's auction showed you that the underlying demand isn't at the market, it's lower than where we are," said Tom Tucci, head of Treasuries trading at CIBC in New York.Month-end buying may help Thursday's sale.Seven-year notes were last down 2/32 in price to yield 1.75 percent, up from ...

Bank of Canada says January rate cut bought it time LONDON: The Bank of Canada's January interest rate cut has bought it time to examine the effects of cheap oil on the economy, Governor Stephen Poloz said on Thursday in remarks that underscored the possibility the bank will keep rates steady next month.Poloz repeated the bank's view that the negative effects of lower oil prices in Canada, a major oil producer, are beginning to appear and the positive effects will take longer to emerge."So we ...

Brazil's central bank says to remain vigilant against inflation BRASILIA: Brazil's central bank will remain vigilant to ensure that inflation slows to the center of the official target in 2016, bank director Luiz Awazu Pereira said on Thursday."I would like to highlight that the objective is to circumscribe the impact (of recent price rises) to 2015 and contain second-round effects of these adjustments through monetary policy," Pereira said in a press conference after the release of the bank's quarterly inflation report.Copyright Reuters, 2015

Standard Chartered launches US$2bn additional tier 1 bond at 6.5pc LONDON: Standard Chartered has launched a US$2bn Additional Tier 1 bond at 6.5%, coming at a tighter level than guidance announced earlier on Thursday.Guidance on the inaugural deal, a perpetual non-call five-year note, was revised earlier to 6.75% area. The issuer began marketing the bond at a yield guidance in the high-6% area earlier today.Demand for the bond was heard to be in excess of US$15bn.Barclays and Standard Chartered are structuring advisers. They are also ...

Bank of England to quiz fund managers over short-notice redemptions LONDON: The Bank of England said on Thursday that it planned to quiz British asset managers about whether they could cope with a flood of investors asking for their money back in times of market stress.The central bank said it was concerned that some financial markets -- including those for fixed income assets -- may be less liquid than they looked, but that funds had promised they could return investors' money at short notice.The BoE ...

Toyota rolls out shared-parts strategy to chop costs TOKYO: Toyota on Thursday announced plans to overhaul production to slash development costs, with a top executive describing the shakeup as crucial to navigating "sudden and drastic changes" in the auto sector.While the Japanese car giant is on track for a record $18 billion fiscal year profit, largely due to a weak yen and strong North American sales, the world's biggest automaker said it needs to go further to protect its bottom line in a ...

Ford doubles production capacity in India AHMEDABAD: US auto giant Ford Motors said Thursday it was doubling its production capacity in India as it opened a new $1 billion plant in the business-friendly prime minister's home state of Gujarat.Ford said the Sanand plant in western India would boost its nationwide manufacturing capacity to 610,000 engines and 440,000 vehicles."With today's opening of our plant in Sanand, we have taken our growth commitment to a new high in India," said company president and ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln