With continuous fall in core inflation numbers and persistent liquidity deficit in the banking system, much beyond the central bank's comfort zone, the Reserve Bank of India may continue with monetary easing and may cut the cash reserve ratio (CRR) in its March policy.
We expect core inflation to trend downward as falling GDP numbers implying subdued demand may result in further decline in core inflation going forward. But we believe that notwithstanding falling GDP and core inflation numbers and downward trajectory in WPI, the Reserve Bank of India will wait until the Union Budget to closely look at the FY 2013 borrowing numbers and overall trends in inflation to start easing the policy rates.
SAMA net foreign assets reach SR2.737 trillion
The Kingdom’s M3 money supply growth edged up to 12.3 percent year-on-year in June from a five-month low of 12.1 percent in the previous month, Saudi Arabian Monetary Agency (SAMA) data showed.
However, due to the limited availability of stock, leasing de
Arabtec Q2 net profit up 11pc
Arabtec, the construction company at the centre of Dubai’s stock market turmoil, reported an 11 percent rise in second-quarter profit yesterday, missing analysts’ estimates.
Net profit cli
Saudi water membrane facility project awarded
The Dow Chemical Company has awarded Fluor Corporation the engineering, procurement and construction (EPC) contract for its Reverse Osmosis (RO) manufacturing facility in Saudi Arabia.