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Indonesia's manufacturing contracts for first time in a year JAKARTA: Indonesian manufacturing activity contracted for the first time in a year in August, weakened by declining new orders and production, the HSBC Markit purchasing managers' index (PMI) survey showed on Monday. The index was 49.5 in August, down from 52.7 the previous month and the lowest for Southeast Asia's largest economy since August 2013. A reading below 50.0 signals a contraction in activity. "The deterioration in manufacturing conditions in August is surprising," said Su Sian Lim, economist at HSBC. "But the contraction in the PMI was only marginal this suggests that the softening in the August PMI may be a temporary lull, she said." New orders received by Indonesian manufacturers dropped on falling demand, ending a 10-month period of growth. Copyright Reuters, 2014 ...

Heart drug launch could be ‘most exciting ever’: Novartis BARCELONA: The expected launch of Novartis's new heart failure drug next year promises to be the company's most exciting ever and profit margins on the medicine will be good, its head of pharmaceuticals said on Sunday. The Swiss drugmaker impressed doctors at the European Society of Cardiology meeting in Barcelona at the weekend by unveiling strikingly good clinical trial results for the drug, known as LCZ696, in a keenly awaited clinical trial. Investigators working on ...
Rosneft CEO says will honour supply contracts: Spiegel magazine FRANKFURT: Russian oil and gas companies will honour their supply contracts despite tensions with the West and U.S. and European Union sanctions, Igor Sechin, head of Russian oil company Rosneft, told German magazine Der Spiegel."Rosneft and other Russian companies will strictly adhere to their supply contracts that are secured by loans and contractual penalties," weekly Der Spiegel quoted Sechin as saying in an article published on Sunday."As an international public company, Rosneft is listed on ...
China graft watchdog probes another exec at Chinese car maker BEIJING: China's anti-graft watchdog has said it is investigating a former senior executive at FAW Group Corp. for corruption, the latest target in a widening probe against the company.State-owned FAW has a joint venture with Volkswagen AG . The joint venture is one of the two car-making ventures the German automaker has in China.An Dewu, FAW's former deputy general manager, was investigated for "suspected serious violations of the law", the ruling Chinese Communist Party's discipline ...
China's Alibaba plans IPO for week of September 8: WSJ NEW YORK: Chinese e-commerce giant Alibaba plans to hold its initial public offering on the US stock market the week of September 8, the Wall Street Journal reported Saturday, citing a person familiar with the matter. The shares would then start trading as early as September 18 or 19, the source told the business daily. Alibaba will list its shares on the New York Stock Exchange under the trading symbol "BABA," the company has said ...
Intel hires senior Qualcomm exec to boost mobile business SAN FRANCISCO: Chipmaker Intel Corp has hired Amir Faintuch, a senior executive at rival Qualcomm Inc, to step up efforts in mobile and Internet-connected gadgets. Hiring a senior executive from a major competitor is rare for Intel, which is known in Silicon Valley for its insular culture, and it reflects the eagerness of the Santa Clara, California, chipmaker to improve its struggling mobile business. Faintuch, who previously oversaw Qualcomm's networking and connectivity businesses as president ...
Microsoft will not hand over overseas email, despite order NEW YORK: A judge on Friday lifted a suspension on her order directing Microsoft Corp to turn over a customer's emails stored overseas to US prosecutors, but the software company said it would not release any emails while it appeals the ruling. Chief Judge Loretta Preska of the US District Court in Manhattan had on July 31 upheld a magistrate judge's ruling on the emails, which have been held in a data center in Ireland. ...


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 6,819.75 0.20
Arrow DAX 9,470.17 0.08
Arrow CAC-40 4,381.04 0.34
Arrow Nikkei 15,424.59 0.23
Arrow H.Seng 24,742.06 0.01
Arrow Sensex 26,638.11 0.29

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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