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Top Greek banks pass recapitalisation hurdle: officials ATHENS: Greece's top four banks have raised over 5.0 billion euros ($5.3 billion) in private funds, officials said Monday, which together with EU funds should be enough to meet their recapitalisation needs so they can support the country's struggling economy."The attraction of over five billion in private capital shows that confidence is returning in the prospects of the Greek economy and the domestic banking system," a government source said.Burdened by non-performing loans and constrained by capital controls imposed in June, Greek banks had been living under the threat of having their assets seized, like their Cyprus counterparts in 2013.Under orders by the European Central Bank to raise private capital to receive an injection up to 10 billion euros of EU bailout funds, the nation's top four banks began soliciting investors at the beginning of the month.National Bank, Piraeus Bank, Alpha Bank and Eurobank were instructed by the ECB to bolster ...

Peugeot says to work with NGO to publish real-world fuel usage PARIS: French carmaker PSA Peugeot Citroen will cooperate with Brussels-based NGO Transport & Environment (T&E) to measure and publish the real-world fuel consumption of its vehicles, Chief Executive Carlos Tavares told reporters on Monday. The announcement by Europe's No 2 carmaker comes two months after the Volkswagen missions-cheating scandal came to light. "In these troubled times for the industry, we must keep the trust of our consumers," Tavares said. Copyright Reuters, 2015

UniCredit to book 210mn euro charge in Q4 for bank rescue MILAN: UniCredit, Italy's biggest bank in terms of assets, will issue loans to the tune of 1.33 billion euros and take overall pre-tax charges of some 300 million euros for its part in the rescue of four Italian banks, a banking source said on Monday. Around 210 million euros ($223 million) of the 300 million euro "ordinary and extraordinary contribution" to the bank resolution fund will be booked in UniCredit's fourth quarter results, the source ...

US Federal Reserve awards $144.6bn reverse repos NEW YORK: The Federal Reserve on Monday awarded $144.6 billion of overnight fixed-rate reverse repurchase agreements to 50 bidders at an interest rate of 0.05 percent, the New York Fed said on its website. This was the biggest award since Oct. 30, when the Fed awarded $225.33 billion to 79 bidders at the same rate. On Friday, the Fed had allotted $122.99 billion in three-day reverse repos to 50 bidders, including Wall Street dealers, money ...

Sri Lanka central bank signals vigilance over credit growth COLOMBO: Sri Lanka's central bank signalled its vigilance if credit growth continues beyond expected levels as borrowers take advantage of lower interest rates, and it revised down the economic growth forecast to 5.7 percent this year. In its latest report on economic development posted it its website over the weekend, the central bank also emphasised a need to limit public sector borrowing to encourage private sector investment. The central bank in April surprised markets with ...

Monte Paschi to pay 160mn euros in Q4 into bank rescue fund ROME: Banca Monte dei Paschi di Siena will pay 160 million euros ($170 million) in the fourth quarter into the fund set up to rescue four Italian banks, the lender's CEO said on Monday. The amount will be the equivalent of four yearly payments, Fabrizio Viola said. Viola said the "net impact" will be of 100 million euros. Copyright Reuters, 2015

Vodafone pulls 30-year benchmark US dollar bond NEW YORK: Vodafone pulled a 30-year US dollar bond offering from the market, hours after announcing initial price thoughts for the trade, one of the lead managers told IFR. Market participants had expected the deal to have a size of US$1.5bn to US$2bn, which was being marketed at a spread of 250bp area over US Treasuries. Vodafone is the second issuer to pull a multi-billion offering from the US corporate bond market in less than ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln