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Bahrain sovereign fund Mumtalakat says 2014 net profit up 10.8pc DUBAI: Bahrain sovereign fund Mumtalakat posted a 10.8 percent increase in net profit in 2014, it said on Wednesday.The fund, which holds stakes in Bahraini companies including Aluminium Bahrain, Gulf Air and Batelco, made 91.6 million bahraini dinars ($243 million) in 2014 versus 82.7 million dinars in the previous year.Copyright Reuters, 2015


Deutsche Bank settles with US SEC over financial crisis case WASHINGTON: Deutsche Bank AG will pay $55 million to settle civil charges by US regulators alleging the bank filed misstated financial reports during the financial crisis concerning material risks it faced for possibly losing billions of dollars. The Securities and Exchange Commission said on Tuesday the German bank over-valued a derivatives portfolio of leveraged trades, but did not have enough collateral to protect against potential losses. It then in turn did not properly reflect these ...

Qatar Airways says to make important announcements at air show AMSTERDAM: Qatar Airways plans to make "important announcements" at the June 15-21 Paris Airshow, its chief executive said on Tuesday. Speaking in Amsterdam, where the Gulf carrier is launching new services from June 16, Akbar Al Baker said, "The reason I am here today and not on June 16 is because I have to be at the air show at Le Bourget, and we also have some important announcements to make at that time".Qatar Airways ...

Russian central bank soon to announce criteria for forex reserve sufficiency MOSCOW: Russia's central bank will soon announce new criteria that will be used to determine whether it regards its international reserves as sufficient, a senior bank official said on Tuesday. "We have sufficient reserves. At the moment we are working on more detailed criteria (for the sufficiency of the reserves), which we think could be applicable based on our experience," Ksenia Yudayeva, first deputy governor of the central bank, told reporters. "We will make an ...

Argentina industrial output falls in yr to April; 21st monthly drop BUENOS AIRES: Argentina's industrial output contracted 1.5 percent in the twelve months to April, Economy Ministry data showed on Tuesday, marking the 21st consecutive monthly decline on the previous year. The figure was better than the median forecast in a Reuters poll of six analysts for a 1.9 percent fall. On a month-on-month basis, industrial output rose 0.4 percent in April in seasonally adjusted terms, the ministry said. Copyright Reuters, 2015

Short-dated yields up on Fed rate hike bets; 30-year yields slip NEW YORK: Short-dated US Treasury yields hit two-week highs on Tuesday on continued expectations that the Federal Reserve would hike rates this year, while yields on longer-dated Treasuries slid on concerns over Greece and global economic growth.U.S. two- and three-year yields, which are sensitive to expectations on when the Fed will hike rates, hit two-week highs of 0.65 percent and 1.03 percent, respectively, after traders took a sanguine view of U.S. durable goods orders data.Commerce ...

India has scope to ease monetary policy: chief economic adviser NEW DELHI: India's central bank has room to further ease its monetary policy, Chief Economic Adviser Arvind Subramanian told reporters on Tuesday.The Reserve Bank of India is widely expected to lower interest rates for a third time this year, at its policy review on June 2, after retail inflation cooled to a four-month low of 4.87 percent in April.Copyright Reuters, 2015


 



 
Index Closing Chg%
Arrow DJIA 18,162.99 0.67
Arrow Nasdaq 5,106.59 1.47
Arrow S&P 2,123.48 0.92
Arrow FTSE 7,033.33 1.21
Arrow DAX 11,771.13 1.26
Arrow CAC-40 5,182.53 1.95
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln