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Deutsche Bank says to review strategy, no comment on Postbank sale report FRANKFURT: Deutsche Bank AG said it would review its strategy in 2015 after a business magazine said it was considering major changes, possibly including the sale of its Postbank-branded retail unit and a revision of its profit targets.However, in comments following a report by Manager Magazin, Germany's biggest lender said it would be irresponsible to speculate on the sale of any business and declined further comment.The magazine said big shareholders had expressed displeasure with progress in the group's turnaround led by co-Chief Executives Anshu Jain and Juergen Fitschen.It said that could lead the bank to present changes including the sale of its Postbank division, purchased between 2008 and 2009. Spain's Banco Santander would be interested in buying Postbank, the magazine said.Santander declined to comment.A sale of Postbank, purchased as Europe reeled under the financial crisis, would represent a major reversal for the bank, which has sought to diversify its earnings ...

Swiss central bank introduces negative interest rate ZURICH: Switzerland's central bank on Thursday announced it was introducing negative interest rates, in a bid to stop the Swiss franc -- a safe haven currency -- from gaining further value.The Swiss National Bank is imposing an interest rate of -0.25 percent on bank deposits, with the aim of pushing the target range of a benchmark rate into negative territory.Copyright AFP (Agence France-Presse), 2014 ...
Swiss national bank introduces negative interest rates ZURICH: The Swiss National Bank surprised markets on Thursday by introducing a negative interest rate on sight deposit account balances, seeking to discourage safe-haven buying by investors anxious over the crisis in Russia and oil's slide. In a brief statement, the SNB said it would impose an interest rate of -0.25 percent on sight deposit account balances of over 10 million Swiss francs and expand its three-month Libor target range to -0.75 percent to 0.25 ...
Norway's central bank says has firm policy against currency intervention OSLO: Norway's central bank has a firm policy against intervening in the currency market and has no position on where the crown currency should be, central bank Governor Oeystein Olsen told national daily DN, confirming the bank's stance. The crown has been hit in recent months by the plunge in oil prices and suffered its biggest intraday drop in decades on Monday. It recovered by the end of the day, but is still nearly 10 ...
Indonesian finance minister says 7pc GDP growth in 2016 is 'possible' JAKARTA: Indonesia can lift its economic growth rate to 7 percent in 2016 barring any major turbulence, Finance Minister Bambang Brodjonegoro said on Thursday. This year, Indonesia will have its slowest growth since 2009. The finance ministry has forecast growth of 5.1 percent for 2014 and 5.8 percent for next year. Brodjonegoro also said on Thursday that Indonesia aims to cut its budget deficit to 1 percent of gross domestic product (GDP) in 2019, partly ...
Japan PM expected to tip BOJ board closer to his views in 2015 TOKYO: Two vacancies opening up in the Bank of Japan next year give premier Shinzo Abe a chance to tip the board's balance in favour of further monetary stimulus, removing a headache for his hand-picked central bank head.The board's composition has taken on greater significance after Governor Haruhiko Kuroda won a tight 5-4 vote in October's surprise expansion of an already radical monetary experiment that pumps roughly $84 billion each month into the economy.The October ...
Bank of England policymakers see oil price fall lowering short-term inflation LONDON: Bank of England policymakers focused heavily on falling oil prices in their December meeting, and the majority who have been voting to keep interest rates on hold appeared slightly more united.Minutes of the BoE Monetary Policy Committee's Dec. 3-4 meeting released on Wednesday showed the majority thought the weak outlook for inflation warranted keeping interest rates on hold at a record low 0.5 percent.Ian McCafferty and Martin Weale, who have voted for a rate ...


Index Closing Chg%
Arrow DJIA 17,356.87 1.69
Arrow Nasdaq 4,644.31 2.12
Arrow S&P 2,012.89 2.04
Arrow FTSE 6,336.48 0.07
Arrow DAX 9,544.43 0.20
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Arrow Sensex 26,710.13 0.27

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln