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German yields fall as investors see US inflation remaining low LONDON: German bond yields fell on Wednesday as core government debt was buoyed by investors betting that continued low US inflation might delay a rise in interest rates until later this year. Data released on Tuesday showed US consumer prices increased last month, ending three months of declines, but Chicago Federal Reserve President Charles Evans on Wednesday urged a delay in rate hikes until the first half of 2016.A majority of Wall Street's top banks see the Federal Reserve holding off until at least September, having previously forecast June. Atlanta Fed President Dennis Lockhart said the United States was "quite likely" to raise rates by September.There was little reaction to a German business survey that provided further signs the euro zone's largest economy could be gaining momentum, with attention focused on the bloc's struggle to fend off deflation with the European Central Bank's quantitative easing (QE) programme. "For sure inflation ...

UK gilt yields touch lowest level in 7 weeks LONDON: Ten-year British government bond yields touched their lowest level in seven weeks on Wednesday, pulled down by an unusually low outlook for British inflation and weaker-than-expected US economic data.The 10-year gilt yield hit a low of 1.444 percent, a level last seen on Feb. 3, following US durable goods data that suggested the world's largest economy has slowed sharply. It recovered later in the session to 1.485 percent, down 2 basis points on the ...

Airbus raises $1.8bn with sale of 17.5 Dassault Aviation stake PARIS: Airbus Group sold a further 17.5 percent stake in business and fighter jet maker Dassault Aviation on Wednesday as it unwinds its 16-year-old link to its defence market rival. After the sale of around 1.61 million ordinary shares that raised 1.64 billion euros ($1.80 billion), Airbus' stake will drop to about 24.6 percent from 42 percent. Airbus began cutting its stake in November and said at the time it would make its "best efforts" ...

Bank of England policymakers see scant need for rate cut LONDON: Three Bank of England policymakers said on Wednesday they saw little chance of a cut in interest rates in the face of tumbling inflation, distancing themselves from the position of the central bank's chief economist.BoE chief economist Andy Haldane surprised some observers by saying last week that a recent sharp slowdown in inflation meant the bank was as likely as not to cut rates - a view previously rejected by BoE Governor Mark Carney.David ...

Greek central banker optimistic on chances of debt deal LONDON: The chances of Greece doing a deal with its European creditors have grown since a meeting in Berlin this week, Greek central bank governor Yannis Stournaras said on Wednesday, adding that an exit from the euro would only bring his country more pain. Speaking to a packed hall at the London School of Economics, Stournaras also said the European Central Bank's latest increase in emergency funding for Greek banks showed that their situation going ...

India raises $17.6 billion on record spectrum auction MUMBAI: India raised a record $17.6 billion during intense bidding on a government auction of mobile phone airwaves which ended Wednesday, as analysts warned of price hikes for subscribers.Communications and IT minister Ravi Shankar Prasad said total bids of 1.1 trillion rupees ($17.6 billion) had been received during the 19-day auction of wireless spectrum in one of the world's largest smartphone markets.The battle among eight mobile phone carriers, including market leaders Vodafone, Bharti Airtel and ...

Brazil central bank allows currency support program to end BRASILIA: Brazil's central bank announced the end of a program to support the strength of the national currency, the real, despite its continued decline.In a statement sent Tuesday night, the bank explained its intervention program that expires on March 31 had "provided a sufficient volume of foreign exchange protection" and would not be extended.The central bank announced in August of 2013 it would spend over $50 billion in defense of the real through the auction ...


Index Closing Chg%
Arrow DJIA 17,678.23 0.23
Arrow Nasdaq 4,863.36 0.27
Arrow S&P 2,056.15 0.24
Arrow FTSE 6,895.33 1.37
Arrow DAX 11,843.66 0.18
Arrow CAC-40 5,006.35 0.29
Arrow Nikkei 19,471.12 1.39
Arrow H.Seng 24,497.08 0.13
Arrow Sensex 27,457.58 2.33

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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