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Turkey's central bank says holds key interest rate, defying PM ANKARA: Turkey's central bank kept its key interest rates steady on Thursday, defying pressure from the prime minister for a rate cut.In a statement posted on its website, the bank said the overnight lending rate was being held at 12.0 percent, while the borrowing and one-week repo rates were left at 8.0 percent and 10.0 percent.The announcement came after the bank held its monetary policy committee meeting, which agreed that the tight monetary policy would be maintained until an improvement in the inflation outlook was secured. Prime Minister Recep Tayyip Erdogan said early this month after his Islamic-rooted party scored a sweeping victory in the March 30 local polls despite corruption allegations and Internet bans that the bank should cut interest rates in order to stimulate the economy. Erdogan, a strong candidate for the presidency in August, has made a turnaround in Turkey's economic fortunes a keystone of his 11-year ...

Spain shows fastest growth in six years: central bank MADRID: Spain's economy grew at the fastest pace in six years in the first quarter of 2014, the central bank said Thursday in a preliminary estimate.Available data indicated that economic output climbed by 0.4 percent on a quarterly basis in the first quarter, the largest expansion since a decade-long property boom imploded in 2008, the Bank of Spain said.Copyright AFP (Agence France-Presse), 2014 ...
Credit Suisse hires Deutsche banker to cover power, utilities NEW YORK: Credit Suisse Group AG has hired a senior banker from Deutsche Bank AG to boost its global power and renewables practice, according to an internal memo reviewed by Reuters.Jonathon Kaufman, who was a managing director at Deutsche Bank's natural resources group, will join Credit Suisse in July and help cover power producers and utility companies, the memo said. A Credit Suisse spokesman confirmed the contents of the memo.The appointment comes about a month ...
Marcato Capital Management makes new bet on Dillard's NEW YORK: Hedge fund manager Mick McGuire of Marcato Capital Management has taken a new position in Dillard's and is betting the retailer's stock can climb to $155 a share, which would mark a 62 percent gain from its current level.McGuire said in a regulatory filing on Wednesday that the department store operator has been turning itself around by closing underperforming stores, cutting expenses and buying back shares.He did not reveal the size of Marcato's ...
India central bank says reserve money grew 8.9pc on year in week to April 18 MUMBAI: India's reserve money rose an annualised 8.9 percent in the week to April 18, faster than 7.6 percent a year earlier, the Reserve Bank of India said on Wednesday. Currency in circulation grew 9.7 percent year-on-year in the week to April 18, compared with 10.6 percent a year earlier. Copyright Reuters, 2014 ...
ECB's Hansson: Must keep an eye on euro exchange rate TALLINN: The European Central Bank must keep an eye on the euro exchange rate to assess whether it poses a risk to the medium-term inflation outlook, ECB Governing Council member Ardo Hansson said on Wednesday. In recent weeks, the ECB has spoken frequently about the currency and warned that any further strengthening could lead it to use unconventional tools such as asset purchases.Hansson, the head of the Estonian central bank, told Reuters on the sidelines ...
Eurozone deficits improve, debt mounts: Eurostat BRUSSELS: Eurozone public finances improved in 2013 as the economy finally turned the corner on a record recession but total debt levels remained dangerously high, official data showed on Wednesday.The average eurozone government deficit -- the shortfall between revenue and spending -- came in at 3.0 percent last year, in line with the EU ceiling and down from 3.7 percent in 2012, the Eurostat statistics agency said.Total accumulated debt, however, increased to 92.6 percent of ...


Index Closing Chg%
Arrow DJIA 16,501.65 0.08
Arrow Nasdaq 4,126.97 0.83
Arrow S&P 1,875.39 0.22
Arrow FTSE 6,674.74 0.11
Arrow DAX 9,544.19 0.58
Arrow CAC-40 4,451.08 0.74
Arrow Nikkei 14,546.27 1.09
Arrow H.Seng 22,509.64 0.97
Arrow Sensex 22,876.54 0.52

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln