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Australia's NAB to move Scottish unit south if Scots vote for independence SYDNEY: National Australia Bank (NAB) , the country's No.4 lender by market value, said contingency plans for its Scottish-based subsidiary included moving to England if Scotland votes to end its 307-year union with the rest of the United Kingdom. The move would address some of the uncertainties and risks surrounding terms of separation for NAB's Clydesdale Bank if Scotland were to become an independent country, NAB said in a statement on Thursday, citing Group CEO Andrew Thorburn. Re-registration in England would be subject to a number of regulatory approvals and other requirements, the timing and cost of which would be determined in due course, the bank added.Earlier, Scottish-based Lloyds Banking Group and Royal Bank of Scotland said they will relocate to England in the event of a "yes" vote. Reuters reported on Tuesday that Scottish banks were increasingly concerned about worried customers looking to move funds out of the region ...


Clydesdale Bank could move to England if Scots vote 'yes' SYDNEY: National Australia Bank on Thursday said it could re-register its subsidiary Clydesdale Bank in England if Scotland votes for independence next week.The Australian bank confirmed its contingency planning in the event of a "Yes" vote included "seeking registration as an English company"."Re-registration would address some of the uncertainties and risks surrounding terms of separation if Scotland were to become an independent country," NAB said in a statement.Earlier Thursday Royal Bank of Scotland said it ...

ECB to monitor risks to inflation outlook closely FRANKFURT: The European Central Bank will keep a close eye on the risks surrounding the outlook for inflation in the euro zone, it said in its monthly bulletin on Thursday, stressing that it stands ready to do more if necessary. As usual, the editorial of the bank's bulletin was virtually identical to its main policy statement, read out by ECB President Mario Draghi last Thursday when the ECB decided to cut its main interest rate ...

Turkish central bank injects 1bn lira in repo, bids 1.47bn lira ISTANBUL: Turkey's central bank injected 1 billion lira ($456.6 million) into the market in a one-week repo auction on Thursday at fixed simple rate of 8.25, the bank data showed. Total bids for the repo, which matures on September 18, were at 1.47 billion lira. Copyright Reuters, 2014

Greece sets pricing on offer to sell 3-,5-year bonds for T-bills ATHENS: Greece on Thursday set the pricing on its offer to top up its recent three- and five-year bonds by about 1 billion euros (US$1.3 billion) and exchange them for outstanding T-bills instead of cash. Holders of T-bills maturing between Sept.19 2014 to March 6, 2015 can exchange them for three-year bonds due in 2017 at exchange ratios of 99.340339 to 98.813836 percent, it said in a bourse filing. T-bill holders of the above maturities ...

ECB's Noyer says still need to lower euro PARIS: Bank of France chief Christian Noyer said the European Central Bank had already succeeded in its aim of lowering the euro but that the single currency needed to ease further for the central bank to achieve its inflation target."We succeeded perfectly in what was one of our aims, which we need in order to get back to our inflation target of 2 percent a year: we needed to bring the euro down and we ...

Turkish central bank opens 1 billion lira repo auction ISTANBUL: The Turkish central bank opened a one-week, fixed-rate repo auction on Thursday with a volume of 1 billion lira ($455 million), bank data showed. The repo will mature on Sept. 18.Copyright Reuters, 2014


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 15, 2014
Reserves $13.414 bln