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BoJ's Kuroda says stable yen key for Japan businesses OSAKA: Bank of Japan Governor Haruhiko Kuroda said stable yen moves are crucial for the country's business sector, nodding to complaints from some companies that rising import costs from sharp yen declines were starting to hurt their bottom line. But he stressed that the reversal of past "excessive" yen gains is prompting some Japanese companies to boost domestic investment instead of shifting production overseas, suggesting that he still broadly sees yen weakness as a welcome trend. "I agree that from a business perspective, exchange-rate stability is extremely important," Kuroda said in a meeting with business executives in Osaka, western Japan, on Tuesday. Kuroda said it was difficult to control yen levels with Japanese policy alone because currency rates can move on various factors, such as economic developments in the United States, Europe and Asia. "Still, there's solid coordination between the government and the BoJ. From this standpoint, we will do ...

Turkey's Bank Asya says continues operations, meeting requirements ISTANBUL: Bank Asya, a Turkish Islamic bank, said on Tuesday its operations were continuing and it is fulfilling its obligations to the state authorities and to its customers. The statement, made in a filing to the Istanbul Stock Exchange, comes after the Istanbul-based bank's shares fell 20 percent on Monday after a six-week suspension amid uncertainty over the bank's future. Copyright Reuters, 2014 ...
ECB's Liikanen says bank ready to take more action if necessary HELSINKI: The European Central Bank is committed to using additional unconvential instruments if necessary to fend off deflation in the euro zone, governing council member Erkki Liikanen said on Tuesday. Earlier this month the ECB cut interest rates to near zero and launched a programme to buy asset-backed securities (ABS) on top of the four-year loans it will offer banks in September to fuel lending to firms and households to try to revive growth. "Should ...
South Korea central bank chief sees weakened effect of monetary policy SEOUL: South Korea's central bank chief said on Tuesday the effects of its interest rate policy in supporting the economy have weakened in recent years due to cyclical and structural changes. Asia's fourth-biggest economy was now more dependent on exports for growth than before as it, along with the global economy, was experiencing a combination of low growth and low inflation, he said before a group of lawmakers. "(The central bank's role) in helping recover ...
PBOC to drain 15bn yuan via 14-day repos SHANGHAI: China's central bank will drain 15 billion yuan ($2.44 billion)from the money markets through 14-day bond repurchase agreements on Tuesday, traders said. Maturing repos will inject a net 33 billion yuan into the banking system this week. The People's Bank of China (PBOC) conducted a net drain of 5 billion yuan from the banking system last week.Copyright Reuters, 2014 ...
Australia central bank warns against speculative demand in home prices SYDNEY: Australia's central bank has warned that record low levels of interest rates risked stoking an unwelcome increase in home prices and debt, another sign that a further easing in policy was unlikely. In minutes of its Sept. 2 meeting, where the Reserve Bank of Australia (RBA) kept its cash rate steady at 2.5 percent for a 13th straight month, the bank reiterated that the most prudent course was for a period of stability in ...
India central bank chief calls for cleaning up of banking system MUMBAI: India's state banks need to improve monitoring of loans and root out "bad apples" and "bad practices," Reserve Bank of India Governor Raghuram Rajan said on Monday, as the sector continues to struggle with bad assets.In a speech at a banking conference in Mumbai, Rajan also called on public sector banks to stop outsourcing assessments of creditworthiness, and said the lenders needed to better monitor their loan evaluation processes."We need better evaluation using in-house ...


Index Closing Chg%
Arrow DJIA 17,279.74 0.08
Arrow Nasdaq 4,579.79 0.30
Arrow S&P 2,010.40 0.05
Arrow FTSE 6,837.92 0.27
Arrow DAX 9,799.26 0.01
Arrow CAC-40 4,461.22 0.08
Arrow Nikkei 16,321.17 1.58
Arrow H.Seng 24,306.16 0.57
Arrow Sensex 27,090.42 0.08

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln