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Deutsche Bank braces for 1bn euros in US, UK Libor fines FRANKFURT: Deutsche Bank is bracing to pay almost 1 billion euros ($1.3 bln) for Libor-related fines as it nears a deal with US and UK authorities to settle allegations it attempted to manipulate the benchmark interest rate, two sources familiar with the matter said on Friday. The bank has already paid 6.1 billion euros in the past two and a half years as it attempts to clear a backlog of litigation and investigations, of which the Libor settlement is considered to be the most important."People are doing everything to get this issue off of the table by the end of the year," said one of the sources, who declined to be named because he was not authorised to speak to the media. Deutsche Bank declined to comment. A spokesman for the United States Department of Justice declined to comment. The bank has never publicly revealed how much it has put ...

Russia's VTB Bank says challenges Western sanctions in European Court MOSCOW: Russia's second-largest bank VTB Bank said on Friday it had launched a legal challenge in a European Union court over Western sanctions imposed on the bank over the Ukraine crisis. VTB Bank said in a statement that it would not elaborate on the terms of its legal challenge, in accordance with usual practice for such cases. "We are appealing the decision of the European Council on punitive measures, imposed on VTB, which harm both ...
Sweden's central bank seen cutting rates to just above zero STOCKHOLM: Sweden's central bank is expected to cut interest rates next week to a record low just above zero to fight stubbornly low inflation, a Reuters poll showed on Friday.Of the 13 analysts contributing to the poll, six saw a cut in the bank's main interest rate, the repo rate, to 0.05 percent from 0.25 percent next Tuesday, four expected a cut to 0.10 percent and two said they expected an easing to 0.15 percent. ...
ECB says sets minimum reserves for Lithuania FRANKFURT: The European Central Bank has set minimum reserves for banks in Lithuania, the ECB said on Friday.Following is its statement: On 21 October 2014 the Executive Board of the European Central Bank (ECB) adopted a Decision on the application of minimum reserves by the ECB following the introduction of the euro in Lithuania on 1 January 2015 (ECB/2014/42). As of that date, credit institutions and branches of credit institutions (hereafter referred to as "institutions") ...
Kenya's central bank seeks to mop up 4bn shillings NAIROBI: Kenya's central bank said on Friday it was in the money market to mop up 4 billion shillings ($44.77 million) in excess liquidity, using repurchase agreements (repo) and term auction deposits. By mopping up liquidity, the bank makes it relatively costlier to hold onto long dollar positions, which in turn helps strengthen the shilling. Copyright Reuters, 2014 ...
Spain's Caixabank, Bankia see core business upturn, lending lags MADRID: Spain's Caixabank and Bankia posted a rise in nine-month profits, as their core banking performance was boosted by lower costs and higher charges to clients. But, in a sign of Spain's slow-moving recovery, the banks also reported a drop in lending on Friday, as the country's banks cut back on new mortgages given tepid demand from indebted families, even as they seek to increase loans to businesses. Caixabank boss Gonzalo Gortazar said weaker lending ...
Banks to return 5.66bn euros in crisis loans to ECB next week FRANKFURT: Banks will return 5.661 billion euros in crisis loans to the European Central Bank next week after the central bank started offering lenders new four-year loans at cheap rates.The Oct. 29 repayment is slightly lower than the 5.8 billion euros banks repaid this week but more than the 4.5 billion euros money market traders polled by Reuters had expected.Banks are returning funds they took from the ECB in late 2011 and early 2012 to ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln