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India's HDFC Bank Q2 profit up 20pc, lags estimates MUMBAI: HDFC Bank Ltd, India's second-biggest private sector lender by assets, on Tuesday reported a 20 percent rise in quarterly net profit, lagging estimates, due to higher tax expenses and provisioning for loan losses.Net profit rose to 23.81 billion rupees ($388.51 million) in its fiscal second quarter to Sept. 30, from 19.82 billion rupees a year earlier, the Mumbai-headquartered bank said in a statement.Analysts had on average expected a net profit of 24.25 billion rupees.Copyright Reuters, 2014


As China gets tougher on fuel economy, some carmakers may be left behind SHANGHAI/BEIJING: Chinese automakers from state-owned FAW Co to Zhejiang Geely are racing to sell more eco-friendly cars as they try to meet tough fuel economy rules due next year as part of Beijing's battle against pollution.But many of China's smaller indigenous automakers will struggle to make the costly upgrades needed to meet the new rules, which aim to push more efficient energy use and which are expected to be toughened every year through 2020.A technology ...

Swedbank warns on growth as quarterly profit tops forecast STOCKHOLM: Banking group Swedbank said on Tuesday growth in its home markets could be dragged down by a weak global economy and political uncertainty in Sweden as it posted forecast-beating profits boosted by lending to corporate and mortgage clients.The bank, which pulled out of Russia and Ukraine last year to focus on Sweden and the Baltics, warned credit demand in the Baltics could be hit by turmoil in Ukraine but said it had not yet ...

CIMB Thai Bank says to miss 2014 loan target due to weak economy BANGKOK: The Thai unit of Malaysian bank CIMB Group Holdings Bhd said on Tuesday it would miss its 15 percent loan growth target for this year due to weak economic growth, and forecast even slower loan growth in 2015. Loans grew 6.9 percent in the first nine months of 2014, when the bank set aside 5.7 billion baht in loan loss provision, Narongchai Wongthanavimok, senior executive vice president at CIMB Thai Bank told reporters. "The ...

Poland's Alior Bank buys Meritum Bank for $107 million WARSAW: Poland's Alior Bank said on Tuesday it had agreed to buy a 98 percent stake in smaller rival Meritum Bank from two private equity funds and the European Bank of Reconstruction and Development (EBRD) for 353 million zlotys ($107 million).About half of the purchase price, or 173 million zlotys, will be paid to Innova Capital and WCP Cooperatief, a unit of Wolfensohn Capital Partners, in the form of new shares issued by Alior Bank, ...

Singapore Sept industrial output seen little changed on year SINGAPORE: Singapore's industrial production was probably marginally higher in September than a year earlier, a Reuters poll showed on Tuesday, after disappointing export data stirred concern about sluggish global demand.The median estimate in the Reuters survey of 13 economists was for manufacturing output to have risen 0.1 percent in September, after a 4.2 percent increase in August from a year earlier.On a seasonally adjusted month-on-month basis, manufacturing output was seen likely to slip 0.8 percent ...

Samsung's Cheil Industries IPO likely to be worth up to $1.4 billion SEOUL: Cheil Industries Inc, the de facto holding company for Samsung Group, plans for its IPO to be worth between 1.3 trillion won and 1.5 trillion won ($1.2 billion to $1.4 billion), a source with direct knowledge of the matter said on Tuesday.Preliminary plans call for shareholders to sell around 18.74 million shares while 10 million new shares will be issued, and for an indicative price range of 45,000 won to 53,000 won per share, ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln