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US business inventories barely rise WASHINGTON: US business inventories rose marginally in May as sales rebounded, adding to a raft of data that have pointed to a sharp slowdown in economic growth in the second quarter.The Commerce Department said on Monday inventories edged up 0.1 percent after rising by a revised 0.2 percent in April.Economists polled by Reuters had forecast inventories unchanged in May after a previously reported 0.3 percent gain.Inventories are a key component of gross domestic product changes. Retail inventories, excluding autos - which go into the calculation of GDP increased 0.3 percent after rising by the same margin in April.Business are being cautious about restocking against the backdrop of lackluster domestic demand. The report suggested inventories will be less of a boost to GDP this quarter.The business inventories report comes in the wake of data this month showing a sharp widening in the trade deficit, which prompted economists to slash their second-quarter ...

China holds four GSK managers for bribery: state media BEIJING: Chinese police have detained four top executives in China of British drug firm GlaxoSmithKline (GSK) for alleged bribery and other offences, state media said Monday.The managers whose responsibilities included operations, human resources, legal affairs and business development had committed "serious" economic crimes, the official Xinhua news agency said.The Beijing News newspaper said in a separate report that more than 20 people, including the four executives, were being held in connection with the investigation, which ...

Nissan says may sell low-cost Datsun cars in Brazil NEW DELHI: Nissan Motor Co Ltd may sell cars from its revived Datsun brand in Brazil, a senior executive said on Monday, as part of the company's push to target the growing middle classes in emerging markets.The company said last year it would resurrect Datsun as a marque for emerging markets, starting with India, Russia and Indonesia. It will also sell the brand in South Africa from next year.Eventually, it has said it wants to ...

Euribor rates steady as markets assess ECB guidance FRANKFURT: Euribor bank-to-bank lending rates were little changed on Monday, steadying after key European Central Bank policymakers qualified the bank's use of forward guidance on low interest rates.Abandoning its traditional policy of never pre-committing on future rates, the ECB said on July 4 it would keep its interest rates at present or lower levels for an "extended period" - its first use of so-called forward guidance.But on Thursday Bundesbank chief Jens Weidmann said the ECB ...

Nissan resurrects Datsun to woo emerging market buyers NEW DELHI: Japanese carmaker Nissan resurrected its iconic budget Datsun marque on Monday to woo a new generation of economy-minded buyers in emerging markets.Nissan, which in 1981 killed the Datsun badge that was a favourite of legions of Western drivers, has launched a "next-generation" of the car to penetrate high-growth developing economies.Nissan Motor Co. chief executive Carlos Ghosn unveiled the first new Datsun model in the New Delhi satellite city of Gurgaon. The car is ...

Moody's puts Singapore banks on ‘negative’ outlook SINGAPORE: Credit rating agency Moody's on Monday downgraded the outlook of Singapore's three main banks to "negative" from "stable" amid rising property prices and mounting household debt in the city-state."The two main drivers underpinning our opinion are the recent period of rapid loan growth and rising real estate prices in Singapore and in regional markets where Singapore banks are active," it said in a statement."These have increased the probability of deterioration in the banks' credit ...

Swiss banks' Holocaust fund paid out $1.24bn: report GENEVA: Holocaust survivors and victims' heirs have received $1.24 billion from a Swiss fund set up after a scandal over dormant accounts of Jews killed in World War II, a magazine said Monday.The Swiss-Jewish weekly Tachles said the figure was contained in a report by New York judge Edward Korman, who oversees the management of the fund.Korman's report summed up operations since a landmark 1998 deal between the World Jewish Congress and Swiss banks.The banks ...


Index Closing Chg%
Arrow DJIA 17,652.60 0.79
Arrow Nasdaq 4,757.88 0.16
Arrow S&P 2,051.82 0.55
Arrow FTSE 6,832.83 0.53
Arrow DAX 10,649.58 2.05
Arrow CAC-40 4,640.69 1.93
Arrow Nikkei 17,511.75 1.05
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Arrow Sensex 29,278.84 0.94

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln