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Indian banks borrow 1.43 trillion rupees from central bank under MSF on Sept 16 MUMBAI: Indian banks borrowed 1.43 trillion rupees from the Reserve Bank of India's marginal standing facility (MSF) window on Sept. 16, above the 1.17 trillion rupees on Sept. 13. The RBI had raised the MSF rate by 200 basis points to 10.25 percent and also imposed restrictions on daily borrowings by banks under its repo window in July.Banks usually tap the MSF rate during acute cash tightness. Copyright Reuters, 2013 ...

Australia central bank keeps options open on rate cuts, nothing imminent SYDNEY: Australia's central bank has kept the door open to further interest rate cuts but again signalled no urgent need to act because there was a substantial amount of policy stimulus already in place.In minutes of its Sept. 3 meeting, the Reserve Bank of Australia (RBA) also said a further fall in the local dollar would be helpful in cushioning the economy as mining investment was likely to fall sharply over the next few years."Members ...
World Bank faces challenge from rival lenders: report WASHINGTON: The World Bank must be more selective and flexible in its work as its faces rising financial constraints and challenges from rivals, according to an internal strategy document seen Monday.The choices include greater risk-taking, cutting back on bureaucracy and adapting commercial-like work with the private sector, moves which would move the huge institution beyond its traditional approaches to fostering development."To deliver on the value proposition, the WBG (World Bank Group) will need to reposition ...
Britain to sell 6pc Lloyds bank stake LONDON: Britain launched plans on Monday to sell six percent of its stake in bailed-out Lloyds Banking Group, marking the lender's first crucial step towards a return to the private sector.UK Financial Investments (UKFI), which manages the state's bank holdings, said in a statement that it will seek to sell 4.28 billion shares to institutional investors.The sale will see the Conservative-Liberal Democrat coalition government's LBG holding drop from 38.7 percent to about 32.7 percent.The government ...
Danske Bank fires CEO over lack of experience COPENHAGEN: Denmark's biggest bank, Danske Bank, on Monday ousted its chief executive, saying in a bluntly worded statement that the group needed a leader with stronger credentials in finance."The board of directors has assessed that -- notwithstanding Eivind Kolding's professional and personal qualities -- it is, in this phase, necessary to have a chief executive officer with stronger qualifications within banking," the bank said.Kolding was replaced by Thomas Borgen, a Norwegian who until Monday was ...
ECB says govts must do more to stimulate investment BERLIN: European Central Bank chief Mario Draghi called on eurozone governments Monday to do more to encourage investment in order to boost competitiveness."One way to regain competitiveness quickly is to address... nominal wages," Draghi told an economic conference in Berlin."Another, long-term approach is to... achieve higher productivity."And Draghi continued: "While cost adjustments increase competitiveness only relatively, productivity gains, by increasing trend growth, can be absolute and benefit all countries."I do not see competitiveness as a ...
Indonesia central bank sees rupiah at 10,000-10,300 to dollar for all of 2013 JAKARTA: Indonesia's central bank governor said on Monday he expected the average exchange rate of the rupiah this year to be 10,000-10,300 to the dollar and 10,500-10,700 in 2014."The global economy has not yet recovered, thus it is difficult to have (the rupiah) at an assumption level of 9,600. Bank Indonesia sees average rupiah in 2013 would be at 10,000 to 10,300," Governor Agus Martowardojo told a parliament hearing.Indonesia's rupiah, the worst performer among Asia's ...

 



 
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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%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln