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BoJ warns of sluggish export recovery TOKYO: Sluggish Asian demand and a shift in Japanese production overseas will continue to weigh on exports, the Bank of Japan said, underscoring its waning conviction that overseas shipments will soon pick up and support a fragile economic recovery. The central bank also warned that while factory output is likely to rise moderately, production of automobiles and personal computers may remain weak due to soft demand. "China's economy is set to sustain stable growth but excess slack in its manufacturing sector, which has a big effect on Japan's economy, remains a problem," the BoJ said in a monthly economic report for August released on Monday. "Some other emerging nations may also see growth lacking momentum for a prolonged period," while a continued shift in Japanese production overseas will also cap export growth for the time being, it said. The report said exports will likely "head for a moderate recovery," offering ...

India central bank says on course for inflation targets NEW DELHI: India's central bank governor said on Sunday the country was on course to meet the bank's targets on reduced inflation, adding that it was working with the new government on monetary policy.Reserve Bank of India (RBI) governor Raghuram Rajan said the bank had started discussions with Prime Minister Narendra Modi's right-wing government on a monetary policy framework that includes measures to control inflation.The RBI on Tuesday left the benchmark repo rate, at which ...
South African central bank rescues troubled lender PRETORIA: South Africa's central bank stepped in to rescue embattled lender African Bank Investments Limited Sunday after its share price plummeted and it said it needed 8.5 billion rand ($800 million) to continue operating.The bank has been put under curatorship or administration and will receive a 10 billion rand capital injection and protection for creditors, Reserve Bank governor Gill Marcus told a news conference.Lenders including Barclays Africa, FirstRand and fund administrator the Public Investment Corporation ...
PDVSA switches to China Citic Bank from BES ANTONIO: Venezuela's state-run oil company PDVSA has started using China Citic Bank to collect money from crude and fuel sales instead of Portugal's Banco Espirito Santo, according to a company document seen by Reuters on Friday.PDVSA told buyers this week that payments can still be made in dollars or euros. Every payment used to be made at its accounts with Banco Espirito Santo, which Portugal said this month it would rescue because of financial woes.PDVSA's ...
BoJ holds fire on stimulus, warns over exports TOKYO: The Bank of Japan on Friday warned over a worsening export and factory output picture but it held fire on launching more stimulus, saying the economy was recovering from a recent sales tax hike.The decision was widely expected so markets focused on BoJ governor Haruhiko Kuroda's post-meeting comments, amid growing speculation that the slowing economy would force the BoJ's hand on more monetary easing.However, Japan's top central banker gave little indication he would soon ...
BOJ offers bleaker view on exports, keeps policy steady TOKYO: The Bank of Japan maintained its view the world's third-largest economy is recovering but offered a bleaker take on exports and output, nodding to a recent batch of soft data that dashed hopes overseas shipments will pick up in time to offset the pain from a sales tax hike in April.The central bank, however, added that household spending remains firm, underscoring its conviction that no fresh stimulus is required even though data next week ...
Bank of England holds steady as rates debate heats up LONDON: The Bank of England kept interest rates at their record low on Thursday, giving Britain's fast economic recovery more time to build even as differences among its policymakers become more apparent.The BoE's Monetary Policy Committee left Bank Rate at 0.5 percent, the level it has maintained since the depths of the financial crisis more than five years ago.The Bank issued no statement after its two-day meeting and investors will have to wait nearly two ...


Index Closing Chg%
Arrow DJIA 17,039.49 0.36
Arrow Nasdaq 4,532.11 0.12
Arrow S&P 1,992.37 0.29
Arrow FTSE 6,777.66 0.33
Arrow DAX 9,401.53 0.93
Arrow CAC-40 4,292.93 1.23
Arrow Nikkei 15,586.20 0.85
Arrow H.Seng 24,994.10 0.66
Arrow Sensex 26,360.11 0.17

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln