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Turkish central bank injects 2bn lira in repo, bids 3.38bn lira ISTANBUL: Turkey's central bank injected 2 billion lira ($924 million) into the market in a one-week repo auction on Wednesday at a fixed simple rate of 8.25 percent, bank data showed. Total bids for the repo, maturing on Aug. 27, were 3.38 billion lira. Copyright Reuters, 2014 ...

Bank of England split adds muddle to confusion LONDON: Two of the nine members of the UK central bank's rate-setting committee voted to increase rates. There is good evidence of job market tightening. But inflation is still falling. Markets don't know which way to turn. Neither, it seems, does the BoE.Copyright Reuters, 2014 ...
Australia says Bitcoin not taxable as currency SYDNEY: Crypto-currencies such as Bitcoin should not be considered as money or a foreign currency when it comes to taxation, Australia's tax authority ruled Wednesday.In guidance designed to help people finalise their tax returns, the Australian Tax Office said Bitcoins were a form of property, disappointing those hoping they would be seen as a currency. The decision follows a similar move by the US Inland Revenue Service in March."Transacting with Bitcoins is akin to a ...
Citigroup eyes sale of Japan retail banking business: reports TOKYO: Citigroup is eyeing the sale of its Japanese retail banking operations, reports said Wednesday, more than a century after setting up shop in the Asian nation.The Nikkei business daily said the US financial giant was talking to Japan's three top lenders about a possible deal, among others.The bidding process was expected to begin as early as September, the daily said, adding that a number of domestic banks have expressed an interest, aiming to gain ...
Australia central bank stresses policy limitations, wants businesses to step up SYDNEY: Australia's central bank chief said on Wednesday that record low interest rates alone cannot drive confidence or spur business activity, suggesting that firms should do more to stimulate stronger economic growth. Reserve Bank of Australia Governor Glenn Stevens told lawmakers at his semi-annual testimony the economy now needs 'animal spirits' in order to support an expansion of non-mining firms, and this is not what monetary policy can directly do. "We need an environment where ...
Moody's downgrades four top South African banks JOHANNESBURG: Moody's downgraded the credit rating of four top South African banks Tuesday after the government bailed out a troubled lender, in a move that sent ripples across Africa's most developed economy.The ratings agency downgraded financial giants Standard Bank, FNB, Nedbank and Barclays-owned ABSA by one notch to Baa1, raising more questions about the health of the vital sector.Moody's said the terms of African Bank's recent rescue showed that investors in other larger banks were ...
Standard Chartered fined $300mn over laundering controls NEW YORK: New York state's banking regulator hit Standard Chartered Bank with a $300 million fine and restrictions on its dollar-clearing business on Tuesday for not detecting possible money laundering.The New York Department of Financial Services (DFS) said the British bank's internal compliance systems had failed to detect or act on a large number of "potentially high-risk transactions" mostly originating from Hong Kong and the United Arab Emirates.The new punishment came two years after the ...


Index Closing Chg%
Arrow DJIA 16,919.59 0.48
Arrow Nasdaq 4,527.52 0.43
Arrow S&P 1,981.60 0.50
Arrow FTSE 6,779.31 0.56
Arrow DAX 9,334.28 0.96
Arrow CAC-40 4,254.45 0.56
Arrow Nikkei 15,449.79 0.83
Arrow H.Seng 25,122.95 0.67
Arrow Sensex 26,420.67 0.11

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln