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Honda cuts sales forecast as recalls delay new model roll-outs TOKYO: Honda Motor Co Ltd has trimmed its full-year sales forecast citing "tough" competition in Japan and China as well as the impact of recalls on new-model development, but said a weak yen would help it maintain its operating profit goal.The Japanese automaker also said on Tuesday that operating profit fell 4.1 percent to 164.4 billion yen ($1.52 billion) in the second quarter, missing the 184.1 billion yen average estimate of 14 analysts polled by Thomson Reuters I/B/E/S.The results came on the day Honda was named as a defendant in a proposed class-action lawsuit over recalls of vehicles with air bags made by Takata Corp that have been linked to four deaths, all in Honda cars. Honda said it had not received the lawsuit and therefore could not comment.Honda has also been struck by five separate recalls for the same car - the hybrid version of its Fit subcompact - ...


Sweden central bank chief says unconventional measures a possibility STOCKHOLM: Sweden's central bank is ready to take unconventional measures if needed to push up inflation after cutting the repo rate to zero, Riksbank Governor Stefan Ingves said on Tuesday."If the world would turn out completely different ... then we can obviously take a number of other measures, which simply involves using our balance sheet, in roughly the same way other central banks have done around the world," Ingves said.Ingves told a news conference the ...

Kenya's central bank seeks to mop up 10bn shillings in liquidity NAIROBI: Kenya's central bank said on Tuesday it was in the money market to mop up 10 billion shillings ($112.17 million) in excess liquidity, using repurchase agreements (repo) and term auction deposits. By mopping up liquidity, the bank makes it relatively costlier to hold onto long dollar positions, which in turn helps strengthen the shilling. Copyright Reuters, 2014

VietinBank sees 2014 credit growth at 14-15pc y/y HANOI: VietinBank, Vietnam's largest partly private bank. The Hanoi-based bank is expected to post an annual credit growth of 14-15 percent, Deputy General Director Bui Nhu Y told a central bank briefing Lending as of Oct. 28 has grown 6.5 percent since the end of 2013, Y said Vietnam's banking sector expects annual credit growth at 12 percent this year In late September Moody's Investors Service affirmed the rating of VietinBank with stable outlook Copyright ...

Telco Zain Saudi Q3 net loss narrows, meets estimates DUBAI: Telecom operator Zain Saudi reported a narrowing third-quarter loss on Tuesday, roughly in line with analyst forecasts as margins improved, provisions fell and Internet usage increased. The company has yet to make a quarterly profit since launching services in 2008 and has struggled to compete against better-resourced rivals Saudi Telecom Co (STC) and Etihad Etisalat (Mobily). Zain Saudi, 37-percent owned by Kuwait's Zain, made a net loss of 316 million riyals ($84.23 million) in ...

Thai Sept exports unexpectedly rebound in good news for military govt BANGKOK: Thailand's exports and imports unexpectedly rebounded in September, a rare piece of good news for the military government which is struggling to revive the economy after seizing power in May.The Southeast Asian country's exports have been struggling at a time when other Asian exporters have started to reap from a recovering US economy and a spurt in global demand for smartphones and other tech goods. Exports, which are equal to more than 60 percent ...

Swedish central bank cuts rate to zero to fight deflation STOCKHOLM: Sweden's central bank cut its key interest rate by a bigger than expected 25 basis points to a record low zero percent on Tuesday to fight persistently low inflation. Inflation has undershot the Riksbank's target for years and despite signs the economy is picking up, consumer prices have only risen one month so far in 2014 on an annual basis. "The Swedish economy is relatively strong and economic activity is continuing to improve. But ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln