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Chile traders see easing cycle to restart in six months SANTIAGO: Chile's central bank is seen restarting its monetary easing cycle in six months, as above-target inflation is expected to subside over the next year, according to the median estimate of 64 traders surveyed in a central bank poll published on Wednesday. The key rate is forecast to remain steady at its current 3.0 percent in December and in three months, but then be cut to 2.75 percent in half a year. Traders see inflation at 0.1 percent in November and reaching an annual rate of 2.43 percent in 12 months. Annual inflation clocked in at 5.7 percent in October, the highest since January 2009 and the seventh month in a row that inflation was been above the central bank's tolerance range of 2 percent to 4 percent. Copyright Reuters, 2014


EBRD eyes 20pc stake in Hypo Balkans for up to 50mn euros VIENNA: The European Bank for Reconstruction and Development (EBRD) plans to invest up to 50 million euros ($62 million) for a 20 percent stake in the Balkans network of nationalised Austrian lender Hypo Alpe Adria, it said on Wednesday. Hypo Alpe Adria -- now known as Heta Asset Resolution after its conversion to a "bad bank" -- has agreed in principle to sell the Balkans network to US private equity group Advent International and the ...

Russian FinMin sells 70mn rbls of OFZ bonds, avg yield 10.2pc MOSCOW: Russia's Finance Ministry said on Wednesday it had sold 70 million roubles ($1.5 million) of OFZ treasury bonds at an average yield of 10.2 percent at a second of two auctions. The ministry offered 5 billion roubles of OFZ bonds maturing in 2016 and said there was 520 million roubles of bids. It earlier sold 603 million roubles of OFZ bonds maturing in 2023 at an average yield of 10.39 percent. Copyright Reuters, 2014 ...

Alibaba founder pledges more investment in India NEW DELHI: Alibaba founder Jack Ma, China's wealthiest man, said Wednesday he plans to invest more funds in India and believes the Internet can transform the country's future.Ma, whose Alibaba controls 80 percent of e-commerce in China, was speaking to a business audience on his first visit to India, two months after his record initial-public-share offering raised $25 billion."We will invest more in India, work with Indian entrepreneurs and technology companies," the billionaire promised in ...

Profits squeezed at sanctions-hit Russian lender MOSCOW: Russia's biggest lender Sberbank said Wednesday its profits fell 10 percent year-on-year in the first nine months of 2014 as the sanctions-hit bank stepped up loan-loss provisions due to the slowing economy and falling ruble."The group's net profit in the first nine months of 2014 was 241.3 billion rubles, down 10.1 percent compared to the same period of 2013," Sberbank said in a statement."The fall in net profits.... is mainly explained by a significant ...

Thomas Cook shares slump as chief executive quits LONDON: Thomas Cook's share price tumbled by more than a fifth on Wednesday after the British travel group announced the exit of chief executive Harriet Green.Green has left with immediate effect and has been replaced by chief operating officer Peter Fankhauser, the group said in a statement to the London Stock Exchange.In reaction, shares tumbled 20.09 percent to 110.2 pence in morning deals on London's second-tier FTSE 250 index, which was flat at 15,831.06 points.Shares ...

Profit at world's top diamond producer falls 44pc as ruble plunges MOSCOW: Russia's state-held Alrosa, the world's top diamond producer, said Wednesday its profits fell 44 percent year-on-year in the first nine months of 2014 due to the plunging value of the ruble.Net profit from the first nine months of 2014 fell 44 percent to 12.8 billion rubles ($277 million), Alrosa said in a statement.The group, which extracts diamonds in far northern Russia, said it suffered increased foreign exchange losses as the fall in the ruble ...


 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln