UPDATE 1-Alibaba-backed Best files for $750 mln U.S. IPO
June 26 Best Inc, a Chinese logistics company backed by Alibaba Group Holding Ltd, on Monday filed for an initial public offering of American depositary shares to raise up to $750 million.
(Adds inflation forecast for Q1 2017)
By Clement Uwiringiyimana
KIGALI Dec 28 Rwanda's central bank on Wednesday lowered its repo rate to 6.25 percent from 6.50 percent to help stimulate credit growth, Governor John Rwangombwa said.
Rwangombwa said while moderate pressure was expected on inflation and the local currency, authorities needed "to give a signal ... to the financial sector to continue supporting the financing of the economy."
November's year-on-year overall inflation declined to 6.4 percent from October's 7.4 percent and the governor said the rate would likely stand at 6 percent for December.
In the first quarter of 2017, inflation was seen averaging 5.8 percent, compared to an average of 4.5 percent in the first three months of 2016, according to the governor.
Rwangombwa said credit to the private sector grew 7.4 percent in the first 11 months of this year, compared with 26.9 percent in the same period in 2015. (Writing by Elias Biryabarema; editing by George Obulutsa and Jason Neely)
NEW YORK, June 26 The Federal Reserve's little-known role housing the assets of other central banks comes with a unique benefit to the United States: It serves as a source of foreign intelligence for Washington.
* Has completed a new eur 500m committed revolving credit facility