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Bank of England confirms EU exit research after email misfire LONDON: The Bank of England plans to assess the implications of a possible British exit from the European Union, it said in a statement, confirming an email it inadvertently sent to a newspaper about the supposedly confidential research project.The Guardian reported that an aide to a senior Bank official said in the email the project should be kept secret from most BoE staff and any journalists asking about it should be told the Bank was looking at a broad range of European economic issues.British Prime Minister David Cameron, who was re-elected on May 7, has pledged to reshape Britain's ties with the EU before holding an in-out membership referendum by the end of 2017.As with last year's referendum on Scottish independence, the BoE is keen to avoid any suggestion it is entering a political debate.In a statement on Friday evening, the Bank confirmed its intention to launch the assessment."It should ...

Monte Paschi prices 3bn-euro rights issue at big discount SIENA: Italy's Banca Monte dei Paschi di Siena priced its upcoming 3-billion-euro ($3.3-billion) rights issue at a big discount as it seeks to plug a capital shortfall unveiled by a Europe-wide health check of the sector. In a statement issued after the market closed on Thursday, the Tuscan lender said it would offer new shares in the bank at 1.17 euros each, or a 38.9 percent discount to the theoretical ex-rights price (TERP) calculated on ...
BoJ to stand pat on policy, may sound more upbeat on economy post-GDP TOKYO: The Bank of Japan is set to maintain its massive monetary stimulus on Friday and may offer a slightly more upbeat view of the economy, unfazed by first-quarter GDP data that offered mixed signs on the strength of the recovery. Data on Wednesday showed the world's third-largest economy expanded at an annualised 2.4 percent in the first three months of this year, the fastest pace in a year, a sign Japan was steadily emerging ...
Fed says auctions $79.919 billion in term deposit facility WASHINGTON: The Federal Reserve said on Thursday it awarded $79.919 billion of 14-day term deposits to 53 banks at an auction held earlier. The central bank will pay an interest rate set to the sum of the interest rate paid on excess reserves plus a fixed spread of 1 basis point on the deposits. The Fed currently pays an interest rate of 25 basis points on excess reserves. These floating rate term deposits will settle ...
Deutsche Bank faces shareholder ire at annual meeting FRANKFURT: Deutsche Bank, Germany's biggest lender, faced the wrath of shareholders over its poor profitability and wave of scandals at the annual meeting Thursday, while promising to make improvements. "We have made progress, but our work is not complete... We know you are disappointed," one of the co-chief executives Anshu Jain told around 4,000 shareholders who attended the meeting in Frankfurt's trade fair hall. "We have a clear strategy.... We are convinced we are on ...
Raiffeisen Bank International profit nearly halves VIENNA: Raiffeisen Bank International's (RBI) first-quarter profit fell by nearly half, showing the impact of a squeeze on the bank's income even though bad debt charges fell.The second-biggest lender in emerging Europe also reiterated on Thursday it might report an annual loss in 2015, partly the result of booking most of an expected 550 million euros in restructuring costs to help to hit a core capital ratio of 12 percent by the end of 2017.Vienna-based ...
Fed officials see June rate hike as unlikely WASHINGTON: Federal Reserve officials believed it would be premature to hike interest rates in June even though most felt the US economy was set to rebound from a dismal start to the year, according to minutes from their April policy meeting released on Wednesday. The central bank debated whether a slew of disappointing data, including weak consumer spending, signaled a temporary slump or evidence of a longer-lasting slowdown, with most participants agreeing economic growth would ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln