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No BoJ easing needed in Oct if inflation expectations anchored: IMF TOKYO: The Bank of Japan does not need to expand monetary policy in October even if it cuts its growth and price forecasts, as long as inflation expectations are well anchored, the IMF's mission chief for Japan said on Friday.Kalpana Kochhar, who is also deputy director of the International Monetary Fund's Asia and Pacific Department, said there was scope for China to expand the yuan's trading band further."What Chinese authorities are doing is what the IMF has recommended for a long time, which is to allow markets to determine the exchange rate," she said on Beijing's decision last month to devalue its currency."One benefit is that loosening the (yuan's) link to the dollar gives Chinese authorities some independence to conduct their own monetary policy," she told Reuters.Kochhar said there was a good chance the IMF would cut Japan's economic growth forecasts for 2015 and 2016 in its next World Economic ...

Russia's Rosneft says to launch LNG plant in Far East after 2020 MOSCOW: Rosneft plans to launch the plant to liquefy natural gas (LNG) on Russia's Pacific Island of Sakhalin after 2020, Chief Executive Igor Sechin said in his presentation, behind the initial schedule. Sources told Reuters in April that Rosneft may have to delay development of its LNG on Sakhalin for at least two years, as prices fell and financing all but dried up due to Western sanctions.Rosneft signed an agreement with ExxonMobil in 2013 that ...

Gazprom cements gas ties with European partners FRANKFURT/MILAN: Russia's Gazprom increased its industrial muscle in the heart of Europe on Friday, bulking up through deals on asset swaps and more pipeline capacity with energy companies keen to get back to business as usual. Gazprom secured access to western European gas storage as well as a deal with industry partners to double the capacity of the Nord Stream pipeline to deliver gas to Europe bypassing Ukraine, with which Russia is in a protracted ...

European shares fall sharply ahead of US payrolls report LONDON: European shares retreated on Friday after strong gains in the previous session, with investors focusing on a US jobs report for hints about the timing of an expected interest rate rise in the United States. Economists expect the US economy to have generated 220,000 new non-farm jobs last month, continuing the robust employment creation of the past five years. The jobs report is due at 1230 GMT. "Markets are worried about a too strong ...

Britain offering 4,000 spaces for Syrian refugees: UNHCR GENEVA: Britain is offering 4,000 spaces for Syrian refugees, a spokeswoman for the UN refugee agency told reporters on Friday. "We welcome very much the move to increase resettlement spaces for Syrians in the UK. Those spaces are going to be critical to the lives and future of 4,000 people," Melissa Fleming said. Earlier, Prime Minister David Cameron said Britain would take in "thousands more" Syrian refugees, without giving numbers. Copyright Reuters, 2015

ECB support drag euro zone bond yields lower LONDON: Euro zone bond yields fell further on Friday following a strong signal from the European Central Bank that it is willing to take further steps to shore up the currency bloc's economy. The ECB's dovish message on Thursday outweighed any jitters over a US jobs report later in the day that could determine whether the Federal Reserve raises interest rates this month or waits until December. While the Fed has so far indicated that ...


Index Closing Chg%
Arrow DJIA 16,102.38 1.66
Arrow Nasdaq 4,683.92 1.05
Arrow S&P 1,921.22 1.53
Arrow FTSE 6,042.92 2.44
Arrow DAX 10,038.04 2.71
Arrow CAC-40 4,523.08 2.81
Arrow Nikkei 17,792.16 2.15
Arrow H.Seng 20,840.61 0.45
Arrow Sensex 25,201.90 2.18

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln