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Turkish central bank injects 10 billion lira in repo, bids 15.42bn ISTANBUL: Turkey's central bank injected 10 billion lira ($4.52 billion) into the market in a one-week repo auction on Thursday at a fixed simple rate of 8.25 percent, bank data showed.Total bids for the repo, maturing on Dec. 4, amounted to 15.42 billion lira.Copyright Reuters, 2014

Turkish central bank says may adjust reserve requirements for lenders ISTANBUL: Turkey's central bank said on Thursday it may adjust reserve requirements for commercial lenders to encourage them to reduce their reliance on foreign borrowing, a move which would lessen their vulnerability to volatile capital inflows.Turkey is particularly vulnerable to changes in foreign capital flows, which it uses to finance its current account deficit, its main economic weakness.The bank said capital flows to emerging markets remain volatile due to uncertainty over global monetary policy and ...

Lending to euro zone private sector shrinks again Oct: ECB FRANKFURT: Lending to euro zone households and firms contracted further in October, keeping up pressure on the European Central Bank to deliver further stimulus measures to buoy the lacklustre 18-country economy.Euro zone banks, especially in crisis-stricken countries, have tightened their purse strings in response to tougher capital requirements and a health check of the sector, while companies have held off investments, unsure of the future.ECB figures released on Thursday showed that in October, loans to ...

China may soon announce plan to insure deposits BEIJING: China's central bank has drawn up plans for the introduction of an insurance system for bank deposits, and the draft rules could be announced soon, three sources with knowledge of the matter said on Thursday.China has considered insuring savers' deposits for around two decades, but the plans took on new urgency in the past year as the country sought to deepen economic reforms.Some Chinese media said on Thursday that the deposit insurance system could ...

Coca-Cola partnership to create biggest bottler in Africa JOHANNESBURG: The Coca-Cola Company Thursday announced a partnership to form its largest soft drinks bottling company in Africa, serving "high growth" countries on the continent.The Coca-Cola company together with British drinks giant SABMiller and Gutsche Family Investment, a South Africa private firm, will join forces to form Coca-Cola Beverages Africa. "The new bottler, Coca-Cola Beverages Africa, will serve 12 high-growth countries accounting for approximately 40 percent of all Coca-Cola beverage volumes in Africa," said a ...

Toyota, Daihatsu announce new Takata airbag recall TOKYO: Toyota said Thursday that it is expanding a recall of cars with airbags made by auto parts maker Takata which have been linked to driver deaths, in another blow to the embattled firm.Toyota, the world's biggest automaker, said it would recall some 57,000 vehicles globally -- about 40,000 units in Japan and some 17,000 overseas -- while subsidiary Daihatsu would recall about 27,500 vehicles in Japan.Some 16 million vehicles from nearly a dozen automakers ...

Eurozone loans to private sector still contracting: ECB FRANKFURT: Loans to the private sector in the euro area, a gauge of economic health, fell year-on-year in October, but by slightly less than in September, the European Central Bank said on Thursday. The volume of loans to private businesses and households declined by 1.1 percent in October compared with the same month in 2013, a slightly lower rate than the drop of 1.2 percent recorded in September, the ECB said in a statement. The ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln