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Turkish central bank says opens 6bn lira repo auction ISTANBUL: Turkey's central bank opened a one-week, fixed-rate repo auction on Monday with a volume of 6 billion lira ($2.77 billion), bank data showed. The repo will mature on Aug 25. Copyright Reuters, 2014

Mercedes-Benz accused of 'price-fixing': China media SHANGHAI: China has accused Mercedes-Benz, a unit of German car giant Daimler, of price-fixing, state media reported, amid an anti-monopoly investigation into foreign carmakers.Pricing authorities in the eastern province of Jiangsu have collected evidence that Mercedes-Benz controlled prices of its spare parts and maintenance services, the official Xinhua news agency reported Saturday.The total cost of all spare parts for a Mercedes-Benz C-class could be 12 times more than a finished model, the report said, citing ...

Central bank and traders briefly see eye-to-eye on yuan SHANGHAI/HONG KONG: China's central bank and currency traders have found rare consensus on the yuan's value after months of widely divergent pricing, but analysts are divided about whether the current accord signifies a genuine relaxation of control by Beijing. The spot market exchange rate and the central bank's guidance rate, or midpoint, have converged dramatically in recent weeks after spending months on opposite sides of the room.The 200-day moving average of the spot rate and ...

Russian central bank widens exchange-rate corridor to allow rouble more flexibility MOSCOW: Russia's central widened its exchange-rate corridor for the rouble by 2 roubles to 9 roubles starting from Monday to allow the currency more flexibility, it said in a statement. The central bank added it was reducing the intervention threshold for moving the rouble corridor to $350 million from $1 billion. The rouble was about 0.2 percent stronger against both the dollar and the euro at 0605 GMT after the central bank altered its exchange-rate ...

Singapore's OCBC bank to raise $2.7bn in rights issue SINGAPORE: Singapore's Oversea-Chinese Banking Corp (OCBC) said Monday it plans to raise $g$3.37 billion ($2.70 billion) in a rights issue to boost its balance sheet following its takeover of Hong Kong's Wing Hang Bank.OCBC said in a statement it has received in-principle approval from the Singapore Exchange Securities Trading Ltd for its plan to issue 440.05 million new ordinary shares priced at Sg$7.65 each.The offer is at a 25.0 percent discount to Friday's closing price ...

Hyundai plans two new car plants in China, instead of one SEOUL: Hyundai Motor Co plans to remodel a car assembly plant belonging to a Chinese partner, a newspaper reported, a move which could help pave the way for the South Korean automaker to build a separate factory in western China. Hyundai, which currently only has factories in eastern China, has said it is keen to build a plant in China's southwestern city of Chongqing which would help it tap growing demand in western parts of ...

China finds Mercedes-Benz guilty of price manipulation SHANGHAI: German car maker Daimler AG's luxury brand division Mercedes-Benz has been found guilty of manipulating prices for after-sales services in China, the official Xinhua news agency reported, citing authorities in Jiangsu province. An array of industries, from milk powder makers to tech firms, have been coming under the spotlight in recent years as China intensifies its efforts to bring companies into compliance with a 2008 anti-monopoly law. That legislation allows the country's anti-trust regulator, ...


Index Closing Chg%
Arrow DJIA 17,001.22 0.22
Arrow Nasdaq 4,538.55 0.14
Arrow S&P 1,988.40 0.20
Arrow FTSE 6,775.25 0.04
Arrow DAX 9,339.17 0.66
Arrow CAC-40 4,252.80 0.93
Arrow Nikkei 15,539.19 0.30
Arrow H.Seng 25,112.23 0.47
Arrow Sensex 26,419.55 0.23

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
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WeeklyAugust 15, 2014
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