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Indian bonds edge up on hopes of RBI's policy rate cut MUMBAI: Indian government bonds ended slightly higher in a range-bound session on Monday, as an unexpected interest rate cut in China was seen reinforcing the prospect that India's central bank would ease, possibly as early as next week. Although most traders expect the Reserve Bank of India to cut rates in February, markets are bracing for a potential surprise at the review on Dec. 2. At the very least, traders say they expect the central bank to adopt a more dovish tone. China cut interest rates late on Friday in a bid to boost growth in the world's second-biggest economy. Although that is not expected to become a major factor in the RBI's thinking, traders say it still helps build the argument for easing in India. More important to the RBI's thinking could be the July-September economic growth data due on Friday. "Bonds will be range-bound up to policy, though ...

Polish central banker Winiecki sees no space for cutting rates WARSAW: Polish central banker Jan Winiecki said on Monday he sees no space for cutting interest rates as he expects economic growth to remain above 3 percent this and next year, while inflation will hover around zero. He also told TOK FM radio that the central bank's current rate-setting panel, which ends its term early in 2016, will be unable to reach the inflation target of 2.5 percent. Copyright Reuters, 2014

Spanish yields below 2pc for first time as ECB bond buying eyed LONDON: Spanish 10-year bond yields broke on Monday below 2 percent for the first time as the prospect of the European Central Bank expanding its asset purchases to include government debt drove down euro zone yields.Italian, Irish, French and Austrian yields also fell to fresh lows, extending last week's falls after ECB President Mario Draghi said on Friday that "excessively low" inflation had to be raised quickly by whatever means necessary. This was his clearest ...

Phosagro says fertiliser sales to rise by 31pc by 2020 MOSCOW: Russian fertiliser company Phosagro said on Monday it planned to increase sales of fertilisers, mainly urea, by 31 percent by 2020.Phosagro, one of the world's largest producers of phosphate fertilisers, gave the forecast in a presentation at an investor conference.Copyright Reuters, 2014

ECB says 3mn euros borrowed overnight FRANKFURT: The European Central Bank said on Monday that 3 million euros was borrowed using its overnight facility, while 22.023 billion euros were deposited.Copyright Reuters, 2014

SpiceJet says in talks with investors for fresh capital NEW DELHI: India's SpiceJet Ltd is in "exploratory and preliminary stage" talks with investors about raising fresh capital, the budget airline said in a regulatory statement on Monday.The airline said a few parties had approached it about making an investment but because the talks were at an early stage it would be improper to comment on the specifics of any possible stake sale.SpiceJet, which has lost money for five consecutive quarters, has been trying to ...

Tesla says in talks with BMW over car batteries, parts FRANKFURT: US electric carmaker Tesla Motors is in talks with Germany's BMW over a possible collaboration in batteries and lightweight components, Tesla's Chief Executive Elon Musk told German weekly Der Spiegel.In an interview published on Sunday, Musk described BMW's production of carbon fibre reinforced car body parts as "interesting" and "relatively cost efficient."BMW uses carbon fibres from its joint venture with materials supplier SGL to make reinforced passenger cell parts for its i3 electric hatchback ...


Index Closing Chg%
Arrow DJIA 17,827.75 0.07
Arrow Nasdaq 4,787.32 0.61
Arrow S&P 2,072.83 0.28
Arrow FTSE 6,729.17 0.03
Arrow DAX 9,915.56 0.55
Arrow CAC-40 4,373.42 0.20
Arrow Nikkei 17,383.58 0.14
Arrow H.Seng 24,111.98 1.12
Arrow Sensex 28,386.19 0.17

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln