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Yields inch higher in quiet trade; focus on auctions NEW YORK: US Treasury debt yields edged higher on Wednesday, trading in narrow ranges, as investors awaited minutes of the last Federal reserve policy meeting that could further shed light on the U.S. central bank's cautious outlook on the economy and interest rates.The Fed, at the conclusion of its March 18 monetary policy meeting, had provided a bleaker-than-expected view on the world's largest economy and said the pace of U.S. rate increases would be slower than many initially thought."We noticed from the Fed speakers that they have been walking the market to a dovish interpretation of their March 18 statement," said Aaron Kohli, interest rate strategist at BNP Paribas in New York."If we see anything in the minutes that suggest the market misread the dovishness of the March 18th statement, then you could see the market setting up for that," he added.Fed officials on Wednesday again struck a dovish tone, ...


BMW recalls almost 80,000 vehicles in China HONG KONG: German top-of-the-range carmaker BMW has recalled almost 80,000 of its vehicles in China due to flaws in their engines, China's quality regulator said Wednesday.Some 53,310 X3 vehicles produced between October 2011 and December 2013 have been recalled, according to a statement from China's General Administration of Quality Supervision, Inspection and Quarantine (ASDIQ).Flawed wiring in the engines could cause the power supply to short-circuit and result in accidents, ASDIQ said.In a separate statement the ...

Hyundai, Kia replace two overseas execs after Q1 sales falter SEOUL: Hyundai Motor and its affiliate Kia Motors have replaced two senior overseas executives, the parent group said on Wednesday, after the South Korean automakers posted lacklustre first-quarter global sales.The change came as the companies, which together rank fifth in global sales, are expected to report weak first-quarter earnings later this month as they boosted incentives in the key U.S. market to revive sluggish demand for sedans and battle Japanese rivals backed by a weaker ...

Russia's March auto sales drop 42.5pc: AEB MOSCOW: The fall in new car sales in Russia accelerated to 42.5 percent in March, year-on-year, the Association of European Businesses lobby group said on Wednesday, after a 38 percent fall the previous month.The AEB said 139,850 new passenger cars and light commercial vehicles were sold in Russia last month, compared with 243,332 in March of 2014."Total market performance in March is bad, of course, but not much worse than expected," Joerg Schreiber, chairman of ...

Shell takeover could net BG's CEO over $48mn LONDON: Royal Dutch Shell Plc's agreed takeover of BG Group Plc will trigger payouts for BG Chief Executive Helge Lund that could see his pay for his first year top 32 million pounds ($47.8 million), a Reuters analysis of corporate filings shows.In December, BG Group was forced to scale back a planned pay deal for Lund potentially worth around 25 million pounds for his first year, under pressure from investors.However, the agreed $70 billion takeover ...

Tech giants defend tax policies at Australian hearing SYDNEY: Global technology giants Apple, Google and Microsoft on Wednesday defended their corporate tax structures at an Australian parliamentary hearing, rebuffing claims they were shifting their profits offshore to avoid paying taxes in the nation.The three firms also told the upper house Senate inquiry into corporate tax avoidance, which held its first day of hearings in Sydney, that they were among 12 technology companies being audited by the Australian Taxation Office.There have been increased efforts ...

France increasing holding in Renault, seeks blocking stake PARIS: The French government said on Wednesday it is increasing its holding in carmaker Renault to gain a blocking minority stake and ensure provisions rewarding long-term investors come into force.A law adopted last year to encourage long-term investors will award them with double voting rights at shareholders meetings, although shareholders can vote to opt-out of these provisions.With some Renault shareholders looking to prevent these provisions from taking effect at the annual meeting on April 30, ...


 



 
Index Closing Chg%
Arrow DJIA 17,826.30 1.54
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Arrow DAX 11,688.70 2.58
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln