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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 frequently places aircraft orders at the industry's annual showcase event, which alternates with the Farnborough Airshow in England. But Al Baker declined to be drawn on whether he expected to announce new plane purchases. "We don't only order airplanes at an air show.There are all kinds of manufacturers. There are cabin products, there are people with seats, with entertainment systems," he said at a news conference. "We don't need engines, we have already ordered them," ...


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

Amazon says has begun declaring sales in UK, Germany, Spain, Italy PARIS: Online retail giant Amazon said it has started declaring sales made in major European markets in the respective countries instead of Luxembourg, meaning it will pay taxes on the sales in the nations."As of May 1, Amazon... is recording retail sales made to customers through... branches in the UK, Germany, Spain and Italy," the company said in a statement. "Previously, these retail sales were recorded in Luxembourg. We are working on opening a branch ...

US shale oil producers to ramp up drilling at current price: Goldman Sachs SINGAPORE: Shale oil producers, benefiting from lower costs, are expected to ramp up drilling activity if the price of US oil stays near $60 a barrel, Goldman Sachs said."We believe that should West Texas Intermediate prices remain near $60 a barrel, US producers will ramp up activity, given improved returns, with costs down by at least 20 percent," analysts at Goldman Sachs said in a report.US drillers cut the number of rigs by just one ...


 



 
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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 28, 2015
Reserves $17.494 bln