India’s Growth in 8 core sector industries slows to 1.9 % in September (Are We Really Progressing ? )31 October 2014 - 18:09 pm
The Eight Core Industries comprise nearly 38% of the weight of items included in the Index of Industrial Production (IIP). The combined Index of Eight Core Industries stands at 160.6 in September, 2014, which was 1.9 % higher compared to the index of September, 2013. Its cumulative growth during April to September, 2014-15 was 4.0 %.
Coal production (weight: 4.38 %) increased by 7.2 % in September, 2014 over September, 2013. Its cumulative index during April to September, 2014-15 increased by 7.2 % over corresponding period of previous year.
Crude Oil production (weight: 5.22 %) declined by 1.1 % in <span “times=”” new=”” roman”,”serif”;color:windowtext;font-weight:normal`=”” style=”line-height: 19.9333343505859px;”>September, 2014 over September, 2013. The cumulative index of Crude Oil during April to September, 2014-15 declined by 1.2 % over the corresponding period of previous year. >> Read More
Russia may restart gas supplies to Ukraine as soon as next week if all financial conditions are met, Alexei Miller, head of state gas monopoly Gazprom, said Friday.
Moscow, Kiev and the European Union clinched a deal on Thursday that would resume supplies of Russian gas to Ukraine over the winter in return for payments funded in part by the Ukrainian government’s Western backers.
Gazprom halted supplies to Ukraine in June amid bitter disputes over debts and pricing between Moscow and the former Soviet republic that is now seeking to foster closer ties with the West rather than Russia.
Ukraine is also struggling with a pro-Russian rebellion threatening to split its eastern regions and blames Moscow for fanning the unrest. >> Read More
The Russian central bank has jacked up rates by a whopping 1.5 percentage points to 9.5 per cent – far more than expected by economists – as policymakers finally act decisively to prop up the wilting rouble.
The rouble has tumbled over the course of the year, weighed down by western sanctions against Moscow, sliding oil prices and oligarchs’ concerns over the safety of stashing their cash in their home country (recently exacerbated by the Sistema saga).
But the Russian currency roared back yesterday, rocketing as much as 5.5 per cent off its low and closing at 41.5 per US dollar after its greatest one-day gain in more than a decade. The recovery was partly triggered by speculation that the Russian central bank would act forcefully at today’s meeting to stem the decline. And policymakers have duly obliged.
At least it’s not getting any worse.
Unemployment in the eurozone was stable in September at 11.5 per cent – same as the figure for August and the expectations of economists polled by Reuters.
It was also 11.5 per cent in July as the unemployment rate remained stubbornly high over the summer, after falling from 12 per cent last September.
Eurostat, the statistical office of the European Union, said unemployment among under 25s was down slightly on a year earlier – at 23.3 per cent in the euro area, compared with 24.0 per cent in September 2013.
For the EU as whole, it said:
Among the Member States, the lowest unemployment rates were recorded in Germany (5.0%) and Austria (5.1%), and the highest in Greece (26.4% in July 2014) and Spain (24.0%).
Compared with a year ago, the unemployment rate fell in twenty-one Member States, increased in six and remained stable in Belgium. The largest decreases were registered in Hungary (10.0% to 7.6% between August 2013 and August 2014), Spain (26.1% to 24.0%) and Portugal (15.7% to 13.6%), and the highest increases were registered in Finland (8.2% to 8.7%) and France (10.3% to 10.5%).
Three Days back ,Told……………………Buy above 228 with Target of 238—-240.50
Now trading at 243.
Will it BLAST upto 248————-250+ ?
101% More Details to our Subscribers ,Updated at 15:42/31st Oct/Baroda
The eurozone’s inflation rate edged up to 0.4 per cent in October, in line with expectations, but remains below the European Central Bank’s target for the 21st month in a row.
Although the widely expected rise is positive, after underwhelming data from Germany earlier this week, the eurozone’s “core” inflation rate – which strips out some volatile components – unexpectedly dipped to 0.7 per cent.
The eurozone’s recovery has hit a sticky patch this year, with Italy formally back in recession – probably followed by Germany – and the rest of the currency bloc still struggling.
That has sent inflation continually downward over the past year, and far below the European Central Bank’s mandate to keep the CPI rate below but close to 2 per cent.
Even merely low inflation makes tackling debt burdens much harder. The situation is particularly acute in the eurozone periphery, where CPI is in many cases in negative territory, but even stronger economies in the “core” have seen price pressures subside dramatically (see chart below). >> Read More
The Bank of Japan has stunned markets by expanding its ultra-aggressive monetary easing programme to stop the country’s businesses and consumers slipping back into what it has called a “deflationary mindset”. Here are some analysts’ views.
In brief, the BoJ is acting after consumer prices in Japan, excluding volatile food prices and the impact of a sales tax hike, rose just 1 per cent in September. The central bank is targeting 2 per cent inflation by next year, as a means of reviving growth by convincing companies to expand and raise wages.
Citi economist Kiichi Murashima remains sceptical that the central bank, which will step up its asset purchases so that the monetary base expands at an annual pace of Y80tn ($724bn), rather than Y60-70tn as in the past, can reach its inflation goal.
The BoJ probably wants to maintain its bullish economic scenario by implementing additional measures. This is a meaningful action, but even with these measures, the 2% inflation target is unlikely to be met in fiscal 2015. Inflation will likely undershoot the BoJ’s projections and that might prompt the BoJ’s further easing.
HSBC’s Paul Mackel, head of Asian currency research, and Dominic Bunning, FX Strategist, focus more on the fact that the Japanese yen will be weakened by the extra monetary stimulus, possibly sparking a “currency war” with other nations by making made-in-Japan products cheaper overseas. >> Read More