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Indonesia's central bank says economic fundamentals 'sound' JAKARTA: Indonesia's central bank deputy governor on Wednesday said there was no need for people to panic about the rupiah's recent depreciation, as the country's economic fundamentals are "sound".The rupiah strengthened by 0.12 percent on Wednesday in Jakarta, closing at 12,655 to the dollar. On Tuesday, it touched a 16-year low of 12,930.Mirza Adityaswara, Bank Indonesia's senior deputy governor, told reporters that have the rupiah "undervalued" helps make the country's exports competitive.Bank Indonesia will continue its role to "stabilise" the rupiah in foreign exchange markets and sovereign bond prices in the secondary market. Mirza said.Copyright Reuters, 2014

China's central bank to provide short-term cash to some banks: sources SHANGHAI: China's central bank has issued short-term funds to some local banks to ease liquidity strains and has also renewed some banks' medium-term lending facilities that have expired, two sources with direct knowledge of the operations said on Wednesday.The cash was disbursed via short-term liquidity operations, or SLOs, which are usually transacted behind closed doors with individual banks that are short on funds, the sources said.The People's Bank of China was not immediately available for ...

EU clears Lufthansa outsourcing deal with IBM FRANKFURT: The European Commission said on Wednesday it had approved the sale of Lufthansa's IT infrastructure unit to IBM.Lufthansa was seeking a buyer for the unit, which provides data centres, networks and telephony, because it requires a high level of investment and economies of scale, which the airline could not provide."The Commission concluded that the proposed acquisition would not raise competition concerns given the very limited overlaps between the parties' activities and the presence of ...

Dutch Philips to buy US-based Volcano in $1.2bn deal THE HAGUE: Dutch electronics giant Philips announced Wednesday it was buying US-based medical imaging company Volcano for $1.2 billion, as it sought to strengthen its hold on the high-margin healthcare technology market."Philips is to acquire Volcano for $18 per share (with) a total transaction value of $1.2 billion (962 million euros)," the Amsterdam-based Philips said in a statement.The agreement to buy the San Diego-based Volcano, which makes catheter-based imaging and advanced blood flow measuring equipment, ...

Dixons Carphone on track as first half profit jumps 30pc LONDON: Dixons Carphone, the electricals and telecommunications retailer, posted a 30 percent rise in first half profit on the back of market share gains and said it was on track to make expectations for the full year.In August Dixons Retail, Europe's No. 2 consumer electronics retailer, and Carphone Warehouse, Europe's largest independent mobile phone firm, concluded an all-share merger to create Dixons Carphone, a consumer electricals powerhouse with a place in Britain's blue chip FTSE ...

Turkish central bank to keep tight policy until inflation improves ISTANBUL: The Turkish central bank will keep its monetary policy tight until there is a clear improvement in the inflation outlook, Governor Erdem Basci told a parliamentary commission in a presentation published on Wednesday."The positive impact of macroeconomic measures adopted early this year and the tight stance in monetary policy is observed on core inflation trends," Basci told the parliament's planning and budget commission, according to the presentation.Copyright Reuters, 2014

India's Oct 1-Dec 15 sugar output up 47pc MUMBAI: Indian sugar mills produced 4.2 million tonnes of the sweetener between Oct. 1 and Dec. 15, about 47 percent higher year-on-year as more mills are operational this year, a producers' body said on Wednesday.This year 442 mills in the country started crushing by Dec. 15, compared with 426 last year, the Indian Sugar Mills Association (ISMA) said in a statement.ISMA expects India's 2014/15 sugar output at 25 million tonnes to 25.5 million tonnes compared ...


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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 $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln