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Indonesia central bank tells private firms to hedge forex loans JAKARTA: Indonesia's central bank on Thursday instructed private firms to hedge more of their foreign debt to limit growth of offshore borrowings and reduce risks to the rupiah.A new regulation, to be effective Jan. 1, requires companies to hedge 20 percent of their external debt due within 3-6 months that has not been covered by their current foreign-exchange assets.Firms must also have additional 20 percent of their foreign exchange needs three months before their debt matures, said Juda Agung, executive director of the department of economic and monetary policy at Bank Indonesia (BI).The central bank is also requiring private firms to have liquidity ratios of 50 percent in 2015 and 70 percent in 2016.BI Governor Agus Martowardojo told reporters "we're facing risks, and a crisis could come sooner than we thought. It (capital outflow) generally happens if we're perceived as reactive instead of proactive. We must be seen as proactive, ...

Deutsche Bank slumps to quarterly net loss as legal costs weigh FRANKFURT: Deutsche Bank AG fell to a net loss in the third quarter after falling victim to the legal costs which already this week prompted a management reshuffle designed to help tackle a long list of unresolved litigation issues.Germany's top lender has stumped up around 7 billion euros ($8.9 billion) in fines and charges since 2012, overshadowing management efforts to restructure and reform the bank and making its stock one of the worst performers in ...
Hungary cental bank extends lending for growth programme BUDAPEST: Hungary's central bank has extended its cheap small business credit programme until the end of 2015, it said on Wednesday, adding that the business sector and commercial banks have asked for the extension.Governor Gyorgy Matolcsy, an ally of Prime Minister Viktor Orban, launched the stimulus programme last year to help government efforts to boost the economy and has said the programme would be expanded by up to 2 trillion forints.The programme would have expired ...
Deutsche Bank posts quarterly net loss as legal costs weigh FRANKFURT: Deutsche Bank reported a net loss in the third quarter as heavy legal costs weighed on earnings, while a modest rise in investment banking results lagged many of the big gains seen by its peers. Germany's top lender reported quarterly net loss of 92 million euros as heavy charges for expected fines and settlements ate into a modest 2 percent increase in net revenue. The group's important investment banking division saw a 9 percent ...
China can cut economic growth target to 7pc in 2015: World Bank BEIJING: China can afford to cut its 2015 economic growth target to 7 percent and still keep its labour market healthy, the World Bank said on Wednesday, even as it urged Beijing to stop setting rigid growth objectives. "Our policy message is the focus should be on reforms rather than meeting specific growth targets," Karlis Smits, a senior economist at the World Bank office in Beijing, told reporters at a media briefing. "In our view, ...
Brazil set to hold interest rates ahead of policy changes BRASILIA: Brazil's central bank will likely keep interest rates steady for a fourth straight time on Wednesday, holding its ground until President Dilma Rousseff announces changes to economic policy following her narrow re-election victory. All 43 economists surveyed in a Reuters poll expect the central bank to keep its benchmark Selic rate unchanged at 11 percent. After narrowly defeating centrist Senator Aecio Neves on Sunday, Rousseff has pledged to change her economic team and alter ...
Philippine central bank says could keep current policy stance if inflation remains favourable MANILA: The head of the Philippine central bank said on Wedneday it could leave current policy settings on hold if inflation remains favourable and the US Federal Reserve takes its time in raising interest rates, its head said on Wednesday. Bangko Sentral ng Pilipinas Governor Amando Tetangco was speaking at a forum organised by the Foreign Correspondents Association of the Philippines, a day after he said inflation will probably ease further on lower food and ...


Index Closing Chg%
Arrow DJIA 16,974.31 0.18
Arrow Nasdaq 4,549.23 0.33
Arrow S&P 1,982.30 0.14
Arrow FTSE 6,453.87 0.81
Arrow DAX 9,082.81 0.16
Arrow CAC-40 4,110.64 0.05
Arrow Nikkei 15,553.91 1.46
Arrow H.Seng 23,819.87 1.27
Arrow Sensex 27,098.17 0.81

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln