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Weak data to test BoJ's rosy economic view, policy on hold TOKYO: The Bank of Japan will maintain its existing stimulus policy and optimistic economic view when it meets on Thursday, sources say, preferring to take more time to gauge whether a run of weak data is sufficient to threaten a fragile recovery.But signs of prolonged disruption from a sales tax hike in April are beginning to sap the conviction of many central bankers that the economy will rebound steadily from a severe second-quarter contraction caused by the higher levy.While the BoJ is likely to stick to its assessment that the economy is recovering moderately, pessimists on the board may propose offering a bleaker view on components such as factory output, say sources familiar with the bank's thinking."It's pretty clear from data out so far that the economy is undershooting the BoJ's forecast," said Yoshiki Shinke, chief economist at Dai-ichi Life Research Institute. "The rebound in July-September may prove to be ...

Spain's Caixabank eyes 150mn euro synergies from Barclays deal MADRID: Spain's Caixabank said on Monday that its acquisition of Barclays' retail and corporate banking operations in the country would bring around 150 million euros ($197 million) in gross cost savings by 2016. Caixabank will buy the Spanish assets, as well as Barclays' wealth and investment management business, for 800 million euros, the two banks said late on Sunday. The Barcelona-based lender was one of Spain's most acquisitive banks during a recent financial crisis, as ...
CaixaBank to buy Barclays Spain operations LONDON: Spain's third-biggest bank by capitalisation CaixaBank is to buy Barclays' Spanish operations for £800 million ($1.1 billion) as the British bank undergoes major restructuring, Barclays said on Sunday.The sale includes Barclay's retail banking, wealth and investment management and corporate banking businesses in Spain.In a statement, Barclays said 2,400 staff and 262 branches would transfer to CaixaBank once the deal is completed, likely around the end of the year.The British bank is undertaking a major ...
China's AgBank chairman to assume provincial party post SHANGHAI: The chairman of Agricultural Bank of China Ltd (AgBank) , the country's third-largest listed lender, plans to take on the role of deputy party secretary in the country's northern province of Jilin. Jiang Chaoliang, who became chairman of AgBank in January 2012, plans to assist with reform in the province, according to a statement posted on the website of The People's Government of Jilin Province late on Sunday. AgBank could not be reached for ...
India better prepared for eventual Fed rate hike, says RBI chief NEW DELHI: India is better prepared to handle the impact of interest rate increases in the United States as foreign funds are less likely to desert the country due to signs of an upturn in economic growth, its central bank chief said in an interview published on Sunday.Reserve Bank of India Governor Raghuram Rajan's comments to the Times of India came on the heels of U.S. jobs data which has heated up speculation over when ...
Piraeus Bank posts profit ATHENS: Greece's Piraeus Bank beat market expectations by posting a profit in the second quarter, helped by higher net interest income and a deferred tax benefit.The country's second-largest lender by assets reported a net profit of 164 million euros ($216 million), compared with a loss of 247 million euros in the first quarter.Analysts polled by Reuters had forecast a second-quarter loss of 133 million euros, on average. Piraeus, which is 67.3 percent owned by the ...
Swiss banks hit by huge deposit outflow in tax crackdown ZURICH: Swiss banks have suffered from a massive outflow of funds since 2008, a survey said on Friday, squeezed by an international crackdown on tax evasion.The survey by auditors PricewaterhouseCoopers attributed much of the outflow -- totalling almost 350 billion Swiss francs (290 billion euros, $380 billion) -- to customers paying fines for undeclared assets held in Swiss accounts. The report said that foreign clients withdrew about 100 billion Swiss francs to pay fines abroad, ...


Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,825.31 0.08
Arrow DAX 9,479.03 0.09
Arrow CAC-40 4,379.73 0.03
Arrow Nikkei 15,476.60 0.34
Arrow H.Seng 24,752.09 0.04
Arrow Sensex 26,867.55 0.86

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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 28, 2014
Reserves $13.582 bln