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India Kingfisher submits plan to regulator to restart airline CEO NEW DELHI: India's grounded Kingfisher Airlines has submitted a plan to the country's aviation regulator to restart operations, asking for its licence to be renewed with the help of funds from its parent UB Group, its Chief Executive said on Wednesday.   "We have given a complete plan which includes our schedule that we plan to operate, the aircraft we plan to operate, the number of people we have," Sanjay Aggarwal told reporters in the Indian capital.   "We have requested that our licence be renewed," he said, adding that the carrier plans to start operations with seven planes.   Kingfisher, controlled by liquor baron Vijay Mallya, who also owns UB Group, has been halted due to a cash crunch, and lenders are trying to recover $1.4 billion of loans in default.       Copyright Reuters, 2013   ...

Egypt central bank sells $38mn at forex auction CAIRO: The Egyptian central bank sold $38.4 million to banks in a foreign currency auction on Wednesday, with a cut-off price of 6.8504 Egyptian pounds to the dollar.The cut-off price at the previous auction held on Monday was 6.8391 pounds.The central bank introduced the foreign exchage auctions at the end of December as part of an effort to stave off a currency crisis triggered by a run on the pound, which has lost a tenth ...
Swiss banks eager to root out undeclared funds GENEVA: Amid a massive scandal involving France's former budget minister and an undeclared Swiss bank account, Swiss banks are more eager than ever to kick out tax cheats and clear their names, bankers and industry experts say.Tax evasion has become "a real problem for Swiss banks, because it is damaging their reputation" an analyst with a large Zurich-based bank told AFP, requesting anonymity."A few years ago, the banks saw taxation as the client's problem, but ...
Czech March CPI signals anti-inflationary risk PRAGUE: Czech March inflation data signal a slight anti-inflationary risk to the central bank's macroeconomic forecast, the central bank said on Tuesday.Consumer prices rose 0.1 percent in March from February, data showed on Tuesday, putting annual inflation at 1.7 percent, or 0.3 percentage points below the central bank's forecast.The bank said that a lower-than-expected rise in regulated prices influenced the data, while food prices rose slightly faster than expected. The central bank said that monetary ...
French central bank sees Q1 GDP growth at 0.1pc PARIS: The Bank of France forecast on Tuesday that the French economy posted growth of 0.1 percent in the first three months of the year, unchanged from its previous estimate.If confirmed by official data due in May, the forecast would mean the euro zone's second-largest economy narrowly averted a recession after contracting by 0.3 percent in the final quarter of 2012.The central bank's monthly business climate survey found that industry sentiment slipped to 93 from ...
Debt auctions stop rally in top-rated euro zone bonds LONDON: The bond rally fuelled by the Bank of Japan's plans for massive money printing paused on Tuesday for investors to absorb fresh debt sales, pushing yields on highly-rated euro zone bonds back up from record lows. Japan's central bank unveiled an unprecedented $1.4 trillion stimulus plan last week, prompting speculation that some of the cash will spill over into other regions. This pushed yields on French, Dutch, Austrian or Belgian bonds sharply lower. Analysts ...
Kenya central bank seeks to mop up 3.5bn shillings from market NAIROBI: The Central Bank of Kenya said on Monday it was in the market to mop up 3.5 billion shillings ($41.3 million) in excess liquidity using term auction deposits.The bank has routinely hoovered up liquidity since last year to support the shilling by making it slightly more expensive to hold long dollar positions. Copyright Reuters, 2013 ...


Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
Arrow DAX 9,786.96 0.25
Arrow CAC-40 4,241.65 0.18
Arrow Nikkei 17,621.40 2.39
Arrow H.Seng 23,116.63 1.25
Arrow Sensex 27,371.84 0.90

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln