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India seen keeping rates on hold to support rupee MUMBAI: India's central bank is expected to keep key interest rates on hold ahead of a monetary policy meeting Tuesday after declaring its focus is nursing the ailing rupee back to health."The priority for monetary policy now is to restore stability in the currency market so macro-financial conditions remain supportive of growth," the Reserve Bank of India (RBI) said in a report late on Monday.Last week, the bank raised two short-term lending rates to ease pressure on the currency, hovering Monday less than two rupees above its record low of 61.21 rupees to the dollar earlier this month.The RBI has held back from raising benchmark rates to support the rupee but warned in its report that growing macro-financial risks warranted "a cautious monetary policy stance".The bank is under pressure from businesses to ease rates further to spur economic growth, which is running at a decade low of five percent.But "the ...

Amazon adds 5,000 jobs, hiring more than 7,000 NEW YORK CITY: Amazon announced plans on Monday to add 5,000 full-time jobs at 17 facilities in the United States and to hire more than 7,000 workers as it beefs up its customer-service network.The announcement comes one day ahead of an appearance by President Barack Obama Tuesday at one of the Internet retail giant's facilities in Tennessee.Amazon, which has about 97,000 employees, is creating jobs as it expands its distribution network to speed up deliveries. ...
Intangible investments cast US economy in brighter light WASHINGTON: As many a former factory worker can attest, US companies have invested so heavily in technology that some plants now practically run themselves.So it is rather odd that official data suggests American businesses for decades have been growing less aggressive at investing in their operations.This apparent contradiction helps illustrate a rethinking under way on how to measure economic output, a discussion that is leading to an overhaul of government data this week that will ...
China orders nationwide government debt audit BEIJING: China's National Audit Office will conduct an audit of all government debt at the request of China's State Council or cabinet, it said in a statement on Sunday, underlining concern over rising debt levels in the world's second biggest economy.The audit office, responsible for overseeing state finances, made the announcement in a one-sentence item on its website, but gave no details on the audit.The official People's Daily newspaper said separately on its website, citing ...
Small Indian retailer locked in trademark fight with Gap NEW DELHI: An Indian recycling company which uses junk to create accessories is fighting a legal trademark suit launched by US clothing giant Gap Inc demanding that the firm change its name.Green the Gap, an Indian company which runs three stores in the country, mainly sells accessories and home decor items made out of waste including beer cans, rubber tyres and fruit cartons.Vimlendu Jha, founding owner of the firm, which also sells clothing for other ...
China June industrial profits up 6.3pc on year BEIJING: Profits earned by China industrial firms rose 6.3 percent in June from a year earlier to 502.4 billion yuan ($81.9 billion), easing from a year-on-year growth of 15.5 percent in May, the National Bureau of Statistics said on Saturday.Industrial profits totalled 2.6 trillion yuan in the first half of 2013, up 11.1 percent from a year earlier, the bureau said in a statement published on its website, www.stats.gov.cn.Among the 41 industries tracked, 30 posted ...
Italy two-year debt costs fall to lowest since May MILAN: Italy's two-year borrowing costs fell on Friday to their lowest since May as hefty debt redemptions next week supported demand.The treasury placed the top planned amount in the sale and drew healthy demand for its two-year bonds. It did not offer the usual inflation-linked BTPei bonds, saying it had ample cash."Next week almost 35 billion euros of Italian debt will come due," said a Milan trader.The treasury sold 3 billion euros ($4 billion) of ...

 



 
Index Closing Chg%
Arrow DJIA 18,203.37 0.47
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyDecember
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln