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Greece to auction 1.0bn euros of 3-month T-bills on March 11 ATHENS: Greece will auction 1.0 billion euros ($1.09 billion) of three-month treasury bills on March 11 to refinance a maturing issue, debt agency PDMA said on Friday, announcing its second sale this month as the government faces a cash crunch. Shut out of debt markets and with aid from its official creditors frozen, Athens is scrambling to meet this month's funding needs, which include maturing treasury paper and a 1.5 billion-euro loan payment to the International Monetary Fund. Issuing T-bills is the only source of commercial borrowing for the left-right coalition government of Prime Minister Alexis Tsipras. The country's EU/IMF creditors have set a 15 billion-euro cap on such issues which has already been reached.The European Central Bank made clear on Thursday it would not raise the limit on Greece's issuance of short-term debt to help it avert a funding crunch, since EU treaty barred monetary financing of governments. The ...

Deutsche Bank crosses 7pc stake in Merlin after share sale LONDON: Deutsche Bank now owns at least 7 percent in UK theme park resort company Merlin , according to a regulatory statement on Friday, after the bank failed to get rid of stock acquired as part of a secondary share placement earlier in the week. Deutsche Bank on Monday launched the sale of 156,541,347 shares in the company on behalf of private equity funds CVC and Blackstone, representing 15.44 percent of Merlin's issued share capital. ...

Nissan expands North America hood latch recall to 878,000 Altima sedans DETROIT: Nissan Motor Co expanded the North American recall of its top-selling Altima sedan to about 878,000 vehicles because a secondary hood latch may fail and cause the hood to fly up while the car is in motion, according to a company filing with US safety regulators. A secondary latch is meant to keep the hood down if the primary latch is not engaged. But Nissan said that in model years 2013 to 2015 Altima ...

VW will probably drop two-door Polos in cost-cutting drive BERLIN: Volkswagen will probably stop making two-door versions of the Polo hatchback, one of the German brand's top models, as Europe's largest carmaker accelerates cost cutting at its core division, company sources said.The VW brand will launch an overhauled Polo in 2017 and may stop producing two-door versions as demand for those is falling, two sources familiar with the matter told Reuters on Friday, adding the next-generation Polo would only come with four doors.The Polo, ...

Monte Paschi leads Italian bank stocks higher on cooperative reform MILAN: Shares in Italian lender Banca Monte dei Paschi di Siena rose more than 5 percent on Friday, helped by consolidation expectations for the sector. A Milan-based trader said the stock was enjoying a rally among Italian banks on the back of a reform of ownership rules for local cooperative lenders which is expected to fuel consolidation. By 1453 GMT, shares in Monte Paschi, which is due to launch a 3-billion-euro ($3.3-billion) cash call to ...

Yields jump after strong US February jobs report NEW YORK: US Treasury yields spiked higher on Friday after data showed US nonfarm payrolls beat expectations and the jobless rate fell to a more than 6-1/2 year low in February, bolstering the view that the Federal Reserve will consider hiking rates in June. Nonfarm payrolls rose 295,000 last month after an increase of 239,000 in January, the Labor Department said. The decline in the unemployment rate to 5.5 percent from 5.7 percent in January ...

Mexico central bank sells $200mn after peso hits 6-year low MEXICO CITY: Mexico's central bank on Friday said it sold all $200 million offered in an auction to support the peso after the currency hit a six-year low following strong US labor market data. The rules-based sale was only the second intervention since the bank started the program in December. The central bank sold the dollars at an average weighted price of 15.4102 pesos per dollar. The peso continued to slide after the auction. The ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln