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China SHANGHAI: China's one-day money rates fell to their lowest in more than seven months on Tuesday as market liquidity remained ample, but dealers cited rising demand for funds after the central bank declined to issue 14-day reverse repos during open market operations in the morning.   The weighted-average one-day bond repurchase rate fell 1 basis point to 1.93 percent from 1.94 percent on Monday, the lowest level since early June.   "I have not seen the one-day rate fall below 2 percent for a very long time," said a dealer at a mid-sized Chinese bank in Shanghai.   "That means money market conditions are extremely relaxed."   The benchmark weighted-average seven-day repo rose to 2.98 percent from 2.94 percent at the close, and the 14-day repo rate rose to 2.92 percent from 2.80 percent.   Dealers said the rise in 14-day repo rates was due to the central bank's abstention from issuing such tenors on Tuesday, which forced some institutions ...


JGB TOKYO: Japanese government bonds were mostly supported with the five-year Japanese government bond yield hitting a record low on Tuesday after the Bank of Japan announce it would commit itself to open-ended asset buying.   As expected, the Bank of Japan adopted a 2 percent inflation target and pledged to extend asset buying into 2014 with no time-limit.   The five-year debt yield fell to as low as 0.140 percent , the lowest yield recorded ever since Japan started ...

Bank of Japan boosts fiscal 2013 GDP growth forecast TOKYO: The Bank of Japan on Tuesday lifted its growth forecast for the country's economy in the fiscal year starting in March, a glimmer of positive news as the country struggles to cement a recovery.   The BoJ said it now expected Japan's gross domestic product to expand by 2.3 percent in the year ended March 2014, up from an earlier 1.6 percent forecast. Copyright AFP (Agence France-Presse), 2013

Broken-up RBS bank may be easier to sell: Posen LONDON: Breaking up Royal Bank of Scotland could make it easier to sell the part state-owned British lender, a former Bank of England monetary policy committee member said on Monday.   Adam Posen told lawmakers such a step would also boost competition in a market dominated by RBS and three other big lenders - Barclays, HSBC and Lloyds.   Britain owns 82 percent of RBS and has a 40 percent stake in Lloyds. The government wants to return both ...

Gilts slip with Bunds on US budget hopes LONDON: Gilt prices fell in thin trade on Monday, as hopes of a short-term US budget fix limited demand for safe-haven assets, while investors prepared for a week of what is likely to be mixed British economic data.   On Friday, US House Republican leaders said they would seek to pass a three-month extension of federal borrowing.   authority to buy time for the Democratic-controlled Senate to pass a budget plan that will shrink deficits.   "It's a US holiday today, ...

Audi says plans to double Middle East sales by 2020 DUBAI: German luxury car maker Audi plans to double its Middle East sales to at least 20,000 vehicles a year by 2020, helped by investment in showrooms and service centres, its local chief said.   "It is the minimum target. You have to have buildings, you have to have capacity," Trevor Hill, managing director of Audi Middle East, told Reuters on Monday following a presentation on its 2012 sales in Dubai's sail-shaped Burj Al Arab hotel, a ...

Japan central bank set to vow boldest action yet to lift economy TOKYO: The Bank of Japan is set on Tuesday to unveil its most determined effort yet to beat years of economic stagnation, but the big challenge will be how to impress markets already pricing in a doubling of its inflation target and further asset buying.   Under pressure from new Prime Minister Shinzo Abe for bolder action to overcome deflation and lift the economy out of recession, the central bank will issue a joint statement with the ...


 



 
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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 $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln