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China finance ministry to auction 22bn yuan of 1-year bills on Aug 7 SHANGHAI: China's Ministry of Finance said on Friday that it will auction 22 billion yuan ($3.54 billion) in one-year government bills on Aug. 7. After the auction, the bonds will be issued from Aug. 7-12 and begin secondary market trading on Aug. 14, it said in a statement published on the website of China's main bond clearing house. Copyright Reuters, 2015

Greece to auction T-bills on August 5 ATHENS: Greece will sell 625 million euros ($684.44 million) of six-month Treasury bills on August 5 to refinance a maturing issue, its debt agency said on Friday. Cash-strapped Greece sold 813 million euros of three-month T-bills earlier this month to refinance a maturing issue, managing to keep its public finances afloat amid a bank shutdown. The settlement date of the new T-bills will be August 7. Only primary dealers will be allowed to participate and ...

Japan's Sharp to exit Americas TV market after deep Q1 loss TOKYO: Sharp Corp on Friday said it would exit the TV set business in the Americas and consider more steps to shore up its finances, after reporting a deeper-than-expected quarterly loss on weak sales of smartphone displays. The Japanese electronics maker said it would sell its TV manufacturing plant in Mexico and license its brand in the Americas to China's Hisense Group. In a separate statement, Hisense said it would pay $23.7 million for the ...

Bank of Spain says clients should not be charged twice for ATM use MADRID: The Bank of Spain said on Friday that banking clients should only be charged once for cash withdrawals from ATMs, in a rebuke to some banks which are looking into a new fee system which could penalise people twice over. Santander, Caixabank and BBVA want to introduce a two euro fee to non-clients who use their ATMs for withdrawals. But many are already charged by their own banks for using ATMs at rival lenders. ...

BNP Paribas eyes market share of retreating rivals PARIS: BNP Paribas aims to grab market share from rivals pulling back from investment banking even as its moves ahead with its own cutbacks, the French bank said on Friday. With regulatory pressures weighing on risky activities, many European banks from HSBC to Deutsche Bank are trying to scale back their investment banks.BNP Paribas has taken a more measured approach to revamping its investment bank, said Chief Officer Philippe Bordenave, who plans an update on ...

Caixabank CEO says no acquisitions planned outside Spain WARSAW: Caixabank is not planning any acquisitions outside Spain, the lender's chief executive said on Friday, denying reports it is bidding for General Electric's (GE) Polish Bank BPH. Earlier on Friday, Polish daily Puls Biznesu said Caixabank, Italy's UniCredit, Polish billionaire Leszek Czarnecki and local insurer PZU were all in the race for BPH, Poland's No. 11 lender in terms of assets. "We're not looking for acquisitions outside Spain," Caixabank CEO Gonzalo Gortazar said during ...

Russian central bank says won't replenish FX reserves in Q3, Q4 MOSCOW: The Russian central bank said on Friday its decision not to continue replenishing FX reserves in the third and fourth quarters meant there will be less pressure on the rouble until the end of the year. The bank cut the main interest rate by 50 basis points to 11 percent earlier on Friday, as expected. Copyright Reuters, 2015


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln