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ECB lowers ELA cap for Greek banks as liquidity conditions improve ATHENS: The European Central Bank lowered on Thursday the ceiling for emergency liquidity assistance (ELA) Greek lenders can tap from the Greek central bank to 89.1 billion euros from 89.7 billion euros, a banking source said. "The ELA cap was lowered due to conditions and inflows normalising," the source told Reuters, speaking on condition of anonymity. Greek banks, who were shut for three weeks over the summer, have relied on emergency funding in recent months after a wave of deposit outflows. Copyright Reuters, 2015

Russia's VTB signs 12bn yuan trade finance agreement with CDB MOSCOW: Russia's VTB Bank said on Thursday it had signed a 12 billion yuan ($1.9 billion) trade finance agreement with China Development Bank (CDB), aimed at helping clients at both institutions fund bilateral import and export operations. The agreement was signed during a visit to Beijing by Russian President Vladimir Putin. Copyright Reuters, 2015

EasyJet forecasts record profits after bumper summer LONDON: British low-cost airline EasyJet on Thursday raised its forecast for pre-tax annual profits to a record high of up to £700 million (952 million euros, $1.1 billion) thanks to high summer traffic.The company said it expected profits in a range of £675 million to £700 million for its accounting year between October 1 and September 30.That was up from its previous forecast of £620 million to £660 million, helped along by a surge in ...

Sony reaches agreement with former employees over hack LOS ANGELES: Sony Pictures has reached an undisclosed agreement in principle with eight former employees who had sued over inadequate protection of their personal data during last year's major hack against the studio.A document filed Wednesday in a Los Angeles court said Sony and the former employees "reached an agreement in principle to settle all of the claims" of the proposed class-action lawsuit.The court has yet to validate the agreement, whose terms are unlikely to ...

Wikipedia blocks accounts linked to paid edits SAN FRANCISCO: Wikipedia on Wednesday said that it has blocked more than 300 accounts being used by people being paid to create or tweak entries at the communally sourced online encyclopedia.Weeks of investigation revealed 381 accounts being used at the English version of Wikipedia for "black hat" editing in which people took money to promote outside interests without disclosing they were on someone's payroll, according to a blog post.Wikipedia editors who led the investigation found ...

Low inflation back in focus at ECB policy meeting FRANKFURT: The European Central Bank may have to consider fresh policy measures to prevent deflation in the single currency area, but will not move at its meeting Thursday, analysts said. "After all the Greek excitement over the summer, the ECB had probably been hoping for a very ordinary and dull meeting this week; to slowly move from vacation into business mode," said ING DiBa economist Carsten Brzeski."Unfortunately, financial markets did not meet the ECB's wishes. ...

German new car sales up in August: data FRANKFURT: New car registrations in Germany, a key measure of demand in one of the most important sectors of Europe's top economy, rose in August, data showed on Wednesday. A total of 226,300 new cars were registered last month, an increase of 6.2 percent compared with the figure for the same month last year, according to data compiled by the federal transport office KBA and released by the VDIK carmakers' federation. Compared to the first ...


Index Closing Chg%
Arrow DJIA 16,351.38 1.82
Arrow Nasdaq 4,749.98 2.46
Arrow S&P 1,948.86 1.83
Arrow FTSE 6,083.31 0.41
Arrow DAX 10,048.05 0.32
Arrow CAC-40 4,554.92 0.30
Arrow Nikkei 18,095.40 0.39
Arrow H.Seng 20,934.94 1.18
Arrow Sensex 25,453.56 0.95

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln