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India MUMBAI: DLF Ltd, India's biggest property developer, will sell its Amanresorts luxury hotel chain in a management buy-out with an enterprise value of around $300 million, the company said, in a deal that does not involve Amanresorts' flagship New Delhi hotel.   Amanresorts, with assets including 22 hotels in 12 countries, has been on the block for around two years, as DLF worked to sell non-core assets to reduce its 232 billion rupees ($4.2 billion) worth of debt.   The deal is expected to close by the end of February, DLF said in a statement to stock exchanges. Copyright Reuters, 2012**


Japan TOKYO: Idemitsu Kosan Co, Japan's third-largest refiner, said on Wednesday it planned to refine 7.4 million kilolitres of crude oil in January-March to meet domestic demand, down 1 percent from a year earlier.   The company has four refineries in Japan with total crude refining capacity of 640,000 barrels per day. Copyright Reuters, 2012**

JGBs drop, track Treasuries on signs of US TOKYO: Japanese government bond prices dropped on Wednesday with benchmark yields rising to a nearly 7-week high, tracking US Treasury yields which rose as signs of progress in resolving the US "fiscal cliff" budget crisis sapped demand for safe-haven fixed income assets.   Negotiations in Washington to avert tax hikes and spending cuts appeared to be progressing as House of Representatives Speaker John Boehner kept the support of his Republican colleagues for compromises in talks with President ...

China SHANGHAI: China's money rates were mixed on Wednesday, as short-term tenors held flat on expectations the central bank would inject funds into the market via open market operations, but longer-term rates rose sharply due to cash demand over the year-end.   The 14-day repo rate jumped 50.27 basis points to 4.2880 percent from 3.7853 percent, hitting the highest level since end-October.   But shorter rates remained steady after the People's Bank of China's 75 billion yuan injection into the ...

Nissan says to make Infiniti model at British plant  TOKYO: Japanese automaker Nissan said Wednesday it would start building a compact model of the luxury Infiniti brand at its huge plant in Sunderland in the north of England from 2015.   Production of the new vehicle would create another 1,000 jobs across the country, including 280 additional positions at the Sunderland plant, with a capacity to make about 60,000 Infiniti models annually.   The Japanese automaker said the investment was worth about 250 million pounds ($407 million), and ...

China property market revives despite controls  SHANGHAI: After waiting for a year, accountant Qi Youdi bought a new home in the eastern Chinese city of Hangzhou, among the millions of buyers bringing life back to the country's moribund property market.   For the past two years, China has sought to control residential property prices with measures including restrictions on second and third home purchases, higher minimum down payments, and annual taxes in some cities on multiple and non-locally-owned homes.   The moves, announced in the ...

IIF warns of large risks to Greek bailout WASHINGTON: The powerful international bank lobby IIF warned on Tuesday that Greece's newly revamped bailout program still faces large risks as long as the economy continues to contract sharply.   "With real GDP likely to decline another 4-5 percent next year after falling 6 percent this year, and further austerity testing social cohesion, risks to the EU-IMF program will remain substantial," the Institute of International Finance said.   "Doubts about debt sustainability will persist until growth resumes and government ...


 



 
Index Closing Chg%
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Arrow S&P 2,011.36 0.49
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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