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Fed's Fischer says still undecided on whether to hike in September WASHINGTON: The US Federal Reserve is waiting to see how data and markets unfold over the coming weeks before deciding whether to raise interest rates at its September meeting, Vice Chair Stanley Fischer said on Friday. "It's early to tell," Fed Vice Chairman Stanley Fischer told CNBC, asked if he felt the case for a September rate hike was less compelling after recent market volatility. "We're still watching how it unfolds. So I wouldn't want to go ahead and decide right now what the case is: more compelling, less compelling, etcetera." Copyright Reuters, 2015

Bank of China says faces margin pressure in H2 from rate liberalisation BEIJING: Bank of China Ltd said on Friday it faces margin pressure in the second half of this year from interest rate liberalisation, an official said at a press conference. Bank of China Vice President Zhang Jinliang also told a results briefing that the weak trade sector hurt the lender's fee income in the first half. Copyright Reuters, 2015

Mauritius 182-day Treasury bills yield rises to 1.80pc PORT LOUIS: The weighted average yield on Mauritius' 182-day Treasury bill rose to 1.80 percent at an auction on Friday from 1.54 percent at the previous sale on Aug. 7, the central bank said. The Bank of Mauritius said it sold all the 600 million Mauritius rupees ($17.12 million) worth of securities it had offered. It said it had received bids worth 1.655 billion rupees at yields ranging from 1.59 percent to 2.50 percent. Copyright ...

Nokia agrees on ‘Shanghai Bell’ joint venture with China Huaxin HELSINKI: Finnish telecom equipment maker Nokia said it had agreed to create a Chinese joint venture with Huaxin in a move that could pave the way for China's approval for Nokia's proposed takeover of Alcatel-Lucent . The joint venture, to be named Nokia Shanghai Bell, will be built upon a similar, long-time joint venture between France's Alcatel-Lucent and China Huaxin, which is a state-owned Chinese investment company. According to a memorandum of understanding, Nokia said ...

Air China reports leap in H1 profit on lower fuel costs SHANGHAI: Air China, the country's flag carrier, said its net profit surged more than 720 percent year-on-year in the first half of 2015, supported by lower fuel prices.The company made net profits of 4.19 billion yuan ($655 million) in the first half, up strongly from 510.37 million yuan in the same period last year, it said a statement filed to the Hong Kong stock exchange late Thursday."The global aviation industry was generally healthy with sustained ...

Boeing gets $1.49bn order to build 13 surveillance planes NEW YORK: Boeing has won a $1.49 billion contract to build 13 additional P-8A maritime surveillance aircraft, and provide parts for 20 other aircraft of the same type.The Defense Department said Thursday that nine planes were being built for the US Navy, while the four others were designed for the Royal Australian Air Force.The parts were being used for the manufacturer of 16 more P-8A planes for the US Navy and four other Australian aircraft.The ...

Nestle accused of using slave-caught fish in cat food NEW YORK: Swiss food giant Nestle is being sued in the United States for allegedly knowingly allowing its Fancy Feast cat food to contain fish from a Thai supplier that uses slave labor.Pet food buyers who filed the class action lawsuit on Thursday in US federal court in Los Angeles seek to represent all California consumers of Fancy Feast who would not have purchased the product had they known it had ties to slave labor.According ...


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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