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Bank of England increases lenders' risk buffers, but less than expected LONDON: The Bank of England told British banks on Friday they will be required to hold more capital to guard against the risks of bad loans, but the new measures were less stringent than many had expected.Shares in Barclays -- one of the banks which analysts had feared might be hit hardest by the new rules -- rose a hefty 7 percent on the news, and shares in Lloyds Banking Group also gained. The new leverage ratio -- the minimum amount of capital banks must hold relative to their exposure to loans -- is part of global reforms introduced after the 2007-09 financial crisis to reduce the chances of banks needing public bailouts.Britain's central bank said the ratio could rise to up to 4.95 percent from 2019, from 3 percent now. That means banks would need to hold 1 pound of capital for every 20 pounds they lend, compared to ...


Mexico central bank holds rate, flags risk from social unrest MEXICO CITY: Mexico's central bank kept interest rates on hold on Friday and argued that a recent spike in inflation would quickly fade next year while flagging the risk that social unrest in the country could dampen a modest recovery. The Banco de Mexico maintained its benchmark interest rate at a record low of 3.00 percent, as expected by 15 of 16 analysts polled by Reuters. Policymakers said the risks to growth were unchanged from ...

British Airways owner confident on growth as rivals falter LONDON: The owner of British Airways and Iberia raised its forecast for profits this year and said it was on course for another rise in 2015 despite an increasingly competitive backdrop that has hit rival European airlines. International Airlines Group's performance contrasts with Air France-KLM and Lufthansa, which have cut forecasts because of strikes and competition from short-haul budget airlines and long-haul Gulf carriers. IAG Chief Executive Willie Walsh sought to end speculation about the ...

Banks to return 3.85bn euros in crisis loans to ECB next week  FRANKFURT: Banks will return 3.85 billion euros in crisis loans to the European Central Bank next week after the central bank started offering lenders new four-year loans at cheap rates.The Nov. 5 repayment is lower than the 5.7 billion euros banks repaid this week and less than the 4.5 billion euros money market traders polled by Reuters had expected.Banks are returning funds they took from the ECB in late 2011 and early 2012 to ride ...

Turkish central bank raises 2014, 2015 inflation forecasts ISTANBUL: Turkey's inflation will be higher than previously forecast this year and in 2015, although falling oil prices could temper its rise, the central bank said on Friday, pledging to keep policy tight until the inflation outlook improves.Presenting the bank's quarterly inflation report, Governor Erdem Basci said inflation was now expected to be around 8.9 percent at the end of 2014, an upwards revision from a mid-point forecast of 7.6 percent in its July report.Basci ...

Monte Paschi options dwindle as Intesa rules out tie-up ROME/MILAN: Options on the table to rescue Banca Monte dei Paschi di Siena dwindled on Friday when larger rival Intesa Sanpaolo ruled out any idea of a merger and denied that the central bank had contacted it to help out. "It is in no way possible," Intesa Chief Executive Carlo Messina told reporters at a banking conference on Friday after a report in La Repubblica said the Bank of Italy had asked his opinion on ...

Daimler to buy 25pc stake in Italy's MV Agusta FRANKFURT: Daimler AG will buy a 25 percent stake in Italian motorcycle manufacturer MV Agusta as part of a long-term cooperation deal which gives the German car and truck maker access to lightweight three-cylinder engines. Daimler said on Friday it will buy the stake via its AMG performance cars unit and will take a seat on the board of directors at MV Agusta. Daimler did not disclose the financial terms of the deal. Cooperation between ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln