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Fed policy meeting: is Yellen turning bullish? WASHINGTON: Bullishness is not a word much associated with Janet Yellen since she became Federal Reserve chair 18 months ago, but that could change with the Fed's next policy meeting.With a global focus on when the US central bank will begin raising interest rates after nearly seven years locked at zero percent, analysts will be looking for a shift in how the Yellen-led Federal Open Market Committee on Wednesday describes the US economy.No decision to raise rates is expected in the end-July FOMC meeting Tuesday and Wednesday. But the language of the policy statement could point to a date, which could be as early as September.Long seen as the key voice of caution over tightening monetary policy, the 68-year-old economist in recent weeks has sounded more confident in the US economy, even as she stated publicly the risks that could challenge growth.In two separate statements this month, Yellen triggered surprise ...

Ryanair says Q1 profits climb LONDON: Irish no-frills airline Ryanair said Monday that net profits jumped by almost a quarter in the first three months of its financial year, helped by keen demand and cost-cutting.Earnings after taxation rallied almost 25 percent to 245 million euros ($270 million) in the three months to June 30, compared with 197 million euros in the same part of the previous fiscal year, Ryanair said in a results statement.Revenue swelled ten percent to 1.653 billion ...

Hyundai India to raise car prices by up to 30,000 rupees MUMBAI: South Korea's Hyundai Motor Co will raise prices on all but one of its car models in India by up to 30,000 rupees ($469) from Aug. 1 as input costs rise, the company said in a statement on Saturday.The newly launched sport-utility vehicle Creta was excluded from the price rise, it said."The price increase has been necessitated by increase of input costs. We have been absorbing most of the costs but now we are ...

Square exploring stock market debut: reports SAN FRANCISCO: Payments company Square has informed US regulators privately that it is exploring going public with a stock market debut, according to reports Friday.The mobile payments and financial services startup launched by Twitter co-founder Jack Dorsey is stealthily looking into an initial public offering of stock.He's doing so under legislation that lets young, growing companies secretly begin the process if they bring in less than a billion dollars in annual revenue, media reports said.The ...

Fiat Chrysler recalls 1.4mn vehicles after Jeep hacked NEW YORK: Fiat Chrysler Automobiles issued a safety recall for 1.4 million cars and trucks Friday after hackers demonstrated that they could remotely control the vehicles' systems while they are in operation."The recall aligns with an ongoing software distribution that insulates connected vehicles from remote manipulation, which, if unauthorized, constitutes criminal action," said FCA US, the American arm of the Italian auto group, in a statement.Copyright AFP (Agence France-Presse), 2015

Nigeria central bank keeps benchmark rate at 13pc ABUJA: Nigeria's central bank kept its benchmark interest rate on hold at 13 percent on Friday, saying concerns about rising inflation and expected normalisation of US interest rates meant monetary policy in Africa's biggest economy had to remain tight. Governor Godwin Emefiele said the bank's monetary policy committee voted 8-4 in favour of keeping the rate at its current level, one of the world's highest benchmark borrowing rates. Its last move was in November. The ...

India's Reliance Q1 profits up despite oil price slump MUMBAI: India's Reliance Industries announced better-than-expected profits Friday as income from core operations of refining and petrochemicals offset the impact from the slump in global oil prices.The Mumbai-based firm owned by Mukesh Ambani, India's wealthiest man, said in a statement that standalone profit in the three months until June 30 rose 11.8 percent to 63.18 billion rupees ($987.19 million) from 56.49 billion rupees a year ago.This outpaced the profit estimate of 62.5 billion rupees predicted ...


Index Closing Chg%
Arrow DJIA 17,689.86 0.03
Arrow Nasdaq 5,128.28 0.01
Arrow S&P 2,103.84 0.23
Arrow FTSE 6,696.28 0.41
Arrow DAX 11,308.99 0.46
Arrow CAC-40 5,082.61 0.72
Arrow Nikkei 20,585.24 0.30
Arrow H.Seng 24,636.28 0.56
Arrow Sensex 28,114.56 1.48

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln