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GCC markets exhibited mixed trends during the week ended April 02, 2009. The upside in the petrochemicals-driven Saudi Arabian market was restricted as crude oil prices declined. Kuwait, the second largest market in terms of market capitalization, managed to post positive returns due to the excellent performance by Industrial sector stocks. However, we are pessimistic [...]
London, Monday, February 16, 2009 ARANCA News Report (www.aranca.com) : India’s acting Finance Minister Pranab Mukherjee presented the interim budget for the 2009/10 fiscal year to take care of essential government spending before and immediately after the general elections due in May 2009. The Rs 952,231 crore (Rs 9.52 trillion/$190.6 billion) interim budget contained no new [...]
London, Wednesday, November 26, 2008 ARANCA News Report (www.aranca.com) : The People’s Bank of China slashed key lending rates by a larger-than-expected 108 basis points to 5.58% from 6.66%. The rates applicable from Thursday are an attempt by the bank to promote lending to local businesses. As the world’s fourth largest economy slows, China’s central bank [...]
London, Thursday, November 13, 2008 ARANCA News Report (www.aranca.com) :The Bank of England (BoE) forecast a significant contraction in the UK economy for 2009, while adding that it is “very likely” that the UK economy was already in recession. BoE predicted that the UK economy could shrink by 2% over the next year, before recovering, if [...]
