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Turkish central bank injects 4bn lira in repo, bids 7.68bn ISTANBUL: Turkey's central bank injected 4 billion lira ($1.79 billion) into the market in a one-week repo auction on Tuesday at a fixed simple rate of 8.25 percent, bank data showed. Total bids for the repo, maturing on Dec. 2, amounted to 7.68 billion lira. Copyright Reuters, 2014

Germany not in recession, says Schaeuble BERLIN: German Finance Minister Wolfgang Schaeuble said on Tuesday that Europe's biggest economy was not in recession."We are not in a recession," Schaeuble told the Bundestag lower house in a debate. "We don't have quite such good economic growth as we did before but we are performing close to our economic capacity," he said. Schaeuble said that Germany has invested heavily in research in development and that it doesn't make sense to only count investment ...

Euro zone indexes pause after two-day rise LONDON: Euro zone shares marked time on Tuesday after a two-day rise that left some key regional indexes in "overbought" territory on a technical basis.An unexpected rise French industrial morale helped put a floor on the market, however, building on a strong German business sentiment survey on Monday.At 0811 the euro zone Euro STOXX 50 was flat at 3,213.10 points. Germany's DAX was up 0.1 percent while France's CAC was flat.All three indexes closed in ...

Volvo makes 400mn euros provision for EU antitrust probe STOCKHOLM: Sweden's Volvo, the world's second-largest maker of trucks, said Tuesday that it was setting aside 400 million euros ($497 million) to cover a potential antitrust fine from the European Union.Last week the European Commission notified Volvo -- along with Germany's MAN and Daimler Benz -- that it was formally suspected of operating an illegal cartel to rig prices which could lead to heavy fines if found guilty. An EU investigation of the companies started ...

Dutch bank ING says to slash 1,700 jobs THE HAGUE: Leading Dutch bank ING on Tuesday announced it will slash 1,700 local jobs over the next three years, as it upgraded its automated online banking services."ING is to take the next step in digital banking in the Netherlands. The measure (is) to result in the reduction of 1,700 jobs in ING's Dutch workforce," it said in a statement.In addition a further 1,075 external contract jobs will also be scrapped.The cuts will mainly target ...

Kingfisher profit held back by tough French market LONDON: Kingfisher, Europe's No. 1 home improvement retailer, posted an 11.8 percent decline in third quarter profit, hurt by a tough French market and foreign currency movements.The firm, which trades as B&Q and Screwfix in Britain and Castorama and Brico Depot in France, said on Tuesday it made a retail profit of 225 million pounds ($353 million) in the 13 weeks to Nov. 1.That compared to analyst's average forecast of 227 million pounds and was ...

Sony to end FIFA sponsorship contract: report TOKYO: Sony has decided not to renew a multi-million-dollar sponsorship contract with FIFA, a report said Tuesday, as the money-losing electronics giant undergoes a painful restructuring.Japan's leading Nikkei business daily said the eight-year, 33 billion yen ($280 million) contract, which expires this year, would not be re-negotiated owing to worries that a new deal would be even more costly.South Korea's Samsung is rumoured to be Sony's successor in the FIFA sponsorship, the Nikkei said in ...


Index Closing Chg%
Arrow DJIA 17,827.75 0.07
Arrow Nasdaq 4,787.32 0.61
Arrow S&P 2,072.83 0.28
Arrow FTSE 6,723.42 0.09
Arrow DAX 9,974.87 0.60
Arrow CAC-40 4,382.34 0.20
Arrow Nikkei 17,248.50 0.78
Arrow H.Seng 24,004.28 0.45
Arrow Sensex 28,438.91 0.19

Banking Review 2013

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