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India February industrial output slides surprise 1.9pc NEW DELHI: India's industrial production slid a surprise 1.9 percent in February, data showed Friday, underscoring the big economic revival task facing the new government that emerges from elections now under way.The tumble in output in February from India's mines, factories and utilities from the same month a year earlier was a surprise to investors and analysts, who had forecast a rise of 0.9 percent.Manufacturing output, which accounts for over three-quarters of the Index of Industrial Production, slid by a hefty 3.7 percent in February from a year earlier.The Congress-led government, expected to lose power to the centre-right opposition Bharatiya Janata Party in an ongoing election, had hoped "green shoots" of recovery would be visible before voting began earlier this week.But the economy has been stumbling badly in the face of high interest rates, creaking infrastructure and a slew of political scandals that discouraged investment. The government has forecast economic ...

Yields on new Greek 5-year bonds rise, traders cite widespread selling LONDON: The yield on Greece's new five-year government bond rose on Friday, a day after Athens issued the 3 billion euro debt, its first sale of a new bond in four years.Five-year yields rose 18bp to 5.13 percent, according to Tradeweb data, as traders reported widespread selling from investors who bought the bonds. "It's quite obvious that many of the guys that bought the bond (in the syndicated deal) were not the buy-and-hold type.They were ...

Uganda central bank intervenes to slow shilling appreciation KAMPALA: Uganda's central bank intervened on Friday to buy US dollars to slow the appreciation of the shilling, traders said.The shilling opened at 2,515/2,525 and was trading at an intra-day high of 2,505/2,515 when Bank of Uganda started buying dollars.By 0835GMT it weakened to 2,515/2,525. "There has been a lot of interbank selling and we've also seen sell-offs by offshore investors which pushed the shilling sharply downwards (strengthening) before the central bank intervened to limit ...

Telefonica offers EU concessions for E-Plus deal ATHENS: Spanish telecoms provider Telefonica has offered concessions in a bid to secure European Union antitrust approval for its proposed takeover of KPN's E-Plus unit in Germany, the European Commission said on Friday. The 8.6-billion-euro ($11.94 billion) deal could spur more consolidation in the telecoms sector, which faces its fifth year of declining revenues in 2014. However, this could be held back if regulators demand stringent concessions in return for their approval. The EU competition ...

Russian gas exports to Ukraine decline this month MOSCOW: Russian gas exports to Ukraine have been falling since early April, a gas industry source said on Friday, declining to give a reason for the reduction. Moscow and Kiev are locked in a stand-off over the price of Russian gas, with Russia saying it may reduce supplies if Ukraine fails to pay an increased price and pay off its debts. The source, who declined to be named, said the latest available data for Russian ...

Polish banks expect slim profit rise in 2014 WARSAW: Poland's commercial banks expect only a slight rise in profits in 2014, as the effect of accelerating economic growth is likely to be offset by record-low interest rates, the Polish financial regulator KNF said on Friday. A poll of all Polish commercial banks conducted by the watchdog found that expect their aggregated net profit to rise by 1.1 percent to 14.626 billion zlotys ($4.9 billion) this year, KNF said on its website. Polish banks ...

Mauritius 182-day Treasury bills yield falls to 2.91pc PORT LOUIS: The weighted average yield on Mauritius' 182-day Treasury bills fell to 2.91 percent at auction on Friday from 3.07 at a previous sale in March, the central bank said. The Bank of Mauritius sold all the 600 million rupees worth of bids on offer. It received bids worth 2.01 billion rupees with yield ranging from 4 percent to 2.80 percent. Copyright Reuters, 2014


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln