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Yields drop as retail sales miss expectations NEW YORK: US Treasury yields fell on Tuesday after data showed that retail sales rose in March for the first time since last year, but at a slower pace than expected, adding to bets the Federal Reserve was unlikely to increase interest rates in June.The Commerce Department said retail sales increased 0.9 percent. That was the largest gain since March of last year and snapped three straight months of declines blamed on harsh winter weather.Economists polled by Reuters forecast retail sales rebounding 1 percent last month."It's lower than consensus, you can make a case that some of the winter effects are still lingering," said Sean Murphy, a Treasuries trader at Societe Generale in New York. "This is slightly helping to confirm that June might be a little bit too early."Weaker-than-expected jobs growth in March and more dovish minutes from the Fed's March meeting have boosted expectations that the US central ...

Indonesia holds key interest rate at 7.5 percent JAKARTA: Indonesia's central bank held its key interest rate steady for the second consecutive month on Tuesday, seeking to balance concerns over a weakening currency and slowing growth.Bank Indonesia's board of governors kept the rate at 7.50 percent, as expected.The bank cut the rate by 25 basis points in February in a bid to boost growth, which slipped to a five-year low in 2014, and after inflation slowed on the back of falling fuel prices.However, ...

Saudi Arabian Airlines among top 10 carriers ISLAMABAD: Saudi Arabian Airlines has won the 9th position among the top 10 reliable carriers in the world, according to a survey conducted by WanderBat travel site on the basis of airlines' on-time performance, low costs to check bags and average age of fleet.Saudia has achieved an average on-time flight arrival and departure rate of 90 percent while the average age of a Saudia aircraft is 10.1 years, the survey said, Saudi Gazette reported.The national ...

Australia's Atlas Iron says in 'positive' talks with creditors SYDNEY: Australia's Atlas Iron Ltd on Tuesday said it was holding "positive" discussions with unsecured creditors and was not at risk of defaulting after deciding to cease mining due to low iron ore prices."There is no default pursuant to the terms of our secured debt facilities," it said in a statement to the Australian Securities Exchange, where Atlas share have been in a voluntary trading halt since April 7.Atlas, which was scheduled to ship the ...

Exploding Takata airbag hurts another US driver: Honda TOKYO: Another exploding Takata airbag has left a US driver hurt, after a crash in a Honda car last month, the Japanese auto company said Tuesday, the latest in a series of problems that have sparked huge recalls.About 20 million vehicles produced by some of the world's biggest automakers are being recalled due to the risk their Takata-made airbags could deploy with excessive explosive power, spraying potentially fatal shrapnel into the vehicle. The problem has ...

Nokia nears purchase of Alcatel-Lucent wireless business: reports PARIS: Finland's Nokia is in advanced talks to acquire the wireless infrastructure business of telecom firm Alcatel-Lucent, reports said Monday.The announcement of a deal could come "quickly", an unnamed source told French business newspaper Les Echos, while Bloomberg News quoted sources as saying Nokia could announce an agreement "as early as this week".Rumours have swirled since December of a possible deal between Nokia and its Franco-American rival, and Les Echos said executives had been in ...

Germany's Bundesbank backs IMF quota and governance reforms FRANKFURT: A top policymaker from Germany's Bundesbank urged on Monday global finance officials to push through reforms of the International Monetary Fund currently being held up by the United States. Last year, officials from the Group of 20 leading economies and representatives for all IMF member nations gave the US until the end of 2014 to ratify long-delayed IMF reforms which would give a more powerful voice to emerging market countries like China. Talking to ...


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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 $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln