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Italian banks told to disclose capital ratios below SREP levels MILAN: Italian banks must inform the market immediately if at least one of their capital ratios is below the level required by the European Central Bank following the so-called Supervisory Review and Evaluation Process (SREP), the country's market watchdog said. The ECB, which is setting individual capital requirements for banks as part of the SREP process, will inform lenders in coming weeks of the final outcome of the review.Copyright Reuters, 2015

Alpha Bank, Eurobank gain EU okay for revised restructuring plans BRUSSELS: Greek lenders Alpha Bank and Eurobank secured European Union regulatory approval on Thursday for minor changes to their restructuring schemes after they managed to plug their capital shortfall without further state aid. The two banks had to downsize their operations and reinforced their balance sheets last year in return for EU regulatory clearance for their billion-euro state bailouts. Eurobank and Alpha, Greece's third and fourth largest banks, were able to cover their capital needs ...

Hungary central bank may slash GDP growth view next month BUDAPEST: Hungary's central bank may cut its economic growth outlook sharply next month, and any easing it adopts in response would probably use non-conventional policy tools, a rate-setter told Reuters on Thursday. The bank has this year cut interest rates to a record low 1.35 percent and already launched unconventional easing to counter a slowing economy. In September's inflation report it forecast growth would slow to 2.5 percent in 2016 from 3.2 percent expected this ...

AirAsia reports Q3 loss on Indonesian writedown, looks to consolidate accounts KUALA LUMPUR: AirAsia Bhd, Asia's biggest budget airline, reported a third-quarter net loss on Thursday, hit by foreign exchange losses and a writedown on its Indonesia AirAsia affiliate, and said it was looking to move to consolidated accounting for the group. The move comes months after Hong Kong-based GMT Research issued a report questioning the Malaysian company's accounting practices and alleged that the airline used transactions with its foreign associate airlines to inflate earnings. "On ...

BMW to raise car prices in India by up to 3pc starting 2016 NEW DELHI: German carmaker BMW will raise the prices of its BMW- and Mini-branded cars sold in India by up to 3 percent starting Jan. 1, 2016, the company's local unit said on Thursday. BMW Group India has 39 dealerships across the country selling 20 BMW models, including the 5 Series, 7 Series, BMW X1 and BMW X3. It also sells four variants of the Mini. Copyright Reuters, 2015

Lloyds to cut 945 jobs as part of three-year restructuring strategy LONDON: Taxpayer-backed Lloyds Banking Group said on Thursday it was cutting around 945 jobs in a restructuring plan first outlined a year ago with the aim of reducing the bank's workforce by 9,000. The staff affected are currently employed within the bank's retail, commercial banking and consumer finance teams, and in several back office divisions, the bank said. "The group's policy is always to use natural turnover and to redeploy people wherever possible to retain ...

India allows foreign investors to buy bonds in default MUMBAI: India's central bank is allowing foreign investors to buy corporate bonds that are either totally or partly in default, it said on Thursday, a potential boost to the country's nascent distressed debt market."This will provide an exit to existing investors and also help in reducing the level of stress in the banking sector," said a policymaker.India is struggling to clean up corporate balance sheets after years of expansion were followed by a sharp slowdown ...


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln