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China central bank says to advance yuan convertibility BEIJING: China aims to quicken the process of making the yuan convertible on the capital account and will allow foreign investors to use the currency to invest in Chinese financial institutions, Central Bank Deputy Governor Hu Xiaolian said on Monday. China will also widen the number of channels for cross-border yuan flows and shift the focus of monetary policy to one that controls the price rather than the quantity of money, Hu said in remarks published on the central bank's website. Her remarks were a reiteration of the central bank's existing stance.Copyright Reuters, 2014 ...

Turkish central bank says opens 3bn lira repo auction ISTANBUL: Turkey's central bank opened a one-week fixed-rate repo auction with a volume of 3 billion lira ($1.34 billion), bank data showed on Monday. The repo matures on October 27. Copyright Reuters, 2014 ...
Philippines seen holding rates on Thursday and rest of the year MANILA: The Philippine central bank is likely to keep monetary policy unchanged on Thursday after inflation eased last month, a Reuters poll showed.Nine of the 11 respondents in the poll expect the central bank to keep both the overnight borrowing rate at 4.0 percent on Thursday, when it meets to review policy. Eight of the 11 forecast no change that day in the special deposit account rate, now at 2.5 percent. Three project a 25 ...
Russia central bank shifts rouble's trading band by 5 kopecks MOSCOW: Russia's central bank said on Monday it had shifted the boundaries of its floating rouble corridor by 5 kopecks, following market interventions to curb the pace of the currency's decline. As of Oct. 17, the new corridor extended from 37.30 to 46.30 against a dollar-euro basket, compared to 37.25 to 46.25 previously. Copyright Reuters, 2014 ...
BoJ stays upbeat on regional Japan, Kuroda says recovery on track TOKYO: Most Japanese regional economies continue to recover as the pain from a sales tax hike in April starts to ease, the Bank of Japan said in a quarterly report, maintaining its optimism on the outlook despite growing signs growth may be losing momentum.BOJ Governor Haruhiko Kuroda also stuck to his upbeat tone in a speech to a meeting of the central bank's regional branch managers, saying that the economy is set to recover moderately ...
Kuwait's Burgan Bank says plans 21.6mn dinar rights issue DUBAI: Burgan Bank, Kuwait's third-largest lender by assets, will launch a 21.6 million dinars ($74.8 million) rights issue by the end of 2014 pending regulatory approvals, it said in a bourse filing on Sunday.Burgan said it plans to issue 216 million new shares and that the rights issue will raise its paid-up capital to 197.18 million dinars.This would indicate that shares would be priced at 0.1 dinars in the rights issue, a significant discount to ...
Morocco sees 2015 budget deficit at 4.3pc, growth at 4.4pc RABAT: Morocco plans to reduce its budget deficit to 4.3 percent of gross domestic product (GDP) in 2015 from an estimated 4.9 percent this year, the government said.The North African country expects its economy to grow 4.4 percent next year, after slowing to 2.5 percent in 2014, the government added in a statement late on Friday.It is also planning to spend 23 billion Moroccan dirhams on subsidies in 2015, down from 35 billion in 2014 ...


Index Closing Chg%
Arrow DJIA 16,380.41 1.63
Arrow Nasdaq 4,258.44 0.97
Arrow S&P 1,886.76 1.29
Arrow FTSE 6,310.29 1.85
Arrow DAX 8,850.27 3.12
Arrow CAC-40 4,033.18 2.92
Arrow Nikkei 14,532.51 1.40
Arrow H.Seng 23,023.21 0.53
Arrow Sensex 26,108.53 0.42

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 10, 2014
Reserves $13.401 bln