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Morgan Stanley chief marketing officer leaves after 9 months NEW YORK: Susan Smith Ellis has left Morgan Stanley nine months after becoming the chief marketing officer of the Wall Street bank, a spokeswoman confirmed on Tuesday. Ellis was responsible for firm-wide marketing, including global events and client functions.She joined Morgan Stanley as part of its transition from an investment bank for mainly institutional clients to one involving thousands of retail investors following its Smith Barney acquisition. Ellis could not be reached for comment.The reason for her departure was not immediately clear. Before joining Morgan Stanley in October, Ellis was CEO of (RED), a project co-founded by U2 lead singer Bono to help fight AIDS in Africa. In that role, she developed partnerships with major consumer brands such as Coca-Cola, Apple Inc and Starbucks Corp. Copyright Reuters, 2014 ...

JPMorgan names former Citi executive Krause to lead China bank HONG KONG: JPMorgan Chase & Co said on Wednesday it named Brett Krause to head its locally incorporated bank in China, adding to other recent hires as it rebuilds its leadership team in the country. Krause, a 20-year banking veteran, was hired as president of JPMorgan Chase Bank (China) Company Limited, the New York-based bank said in an e-mailed statement. He joined JPMorgan in January and previously held leading roles at Citigroup, including senior country ...
BoJ Deputy Governor Nakaso says end of deflation in sight SHIZUOKA: Bank of Japan Deputy Governor Hiroshi Nakaso said the country was eyeing an end to deflation as rising wages and inflation expectations allow companies to increase prices of their goods, signalling confidence over a sustained economic recovery. But he voiced caution over sluggish exports and stressed that the world's third-largest economy is only halfway to meeting the central bank's 2 percent price target, suggesting that the BoJ is nowhere near to withdrawing its massive ...
Barclays, Deutsche Bank in US tax scheme: Senate report WASHINGTON: Two of Europe's largest banks, Barclays and Deutsche Bank, have sold complex financial products that allowed hedge funds to avoid US taxes, a Senate report said Tuesday.The scheme has cost the federal government billions of dollars in tax revenues, according to the report by the Senate permanent subcommittee on investigations of the Committee on Homeland Security and Governmental Affairs.The committee said an investigation revealed how British bank Barclays and Germany's Deutsche Bank developed two ...
Hungary cuts base rate to record low, ends long easing cycle BUDAPEST: Hungary central bank MNB cut its main interest rate to a record low of 2.10 percent on Tuesday, ending a two-year-long monetary easing cycle aimed at stoking economic growth."The rate cut has brought the MNB's 490 basis point (4.9 percentage point) rate reduction cycle to an end," said a statement from the bank after the announcement."The base rate has reached the level which ensures both the medium-term inflation goal (of 3.0 percent) and continued ...
New Zealand central bank to raise rates again, but likely signal a pause WELLINGTON: New Zealand's central bank is set to raise interest rates for a fourth consecutive meeting this week but is expected to signal it will pause its tightening as it balances sliding commodity prices, rising inflation and a high flying currency. The country has been growing at close to 4 percent a year on the back of earthquake reconstruction projects in the Canterbury region, a strong housing market, booming commodity prices, and increasing migration. That ...
South Korea fin min, central bank chief cite risks to growth SEOUL: South Korea's top two economic policy officials agreed on Monday that downside risks to growth were increasing but did not say whether they saw the economy as weak enough to warrant an interest rate cut. Finance Minister Choi Kyung-hwan and Bank of Korea Governor Lee Ju-yeol also agreed to pursue "harmony between economic and monetary policies", the two organisations said in a joint statement after their first meeting since Choi took office last week. ...


Index Closing Chg%
Arrow DJIA 17,113.54 0.36
Arrow Nasdaq 4,456.02 0.71
Arrow S&P 1,983.53 0.50
Arrow FTSE 6,795.34 0.99
Arrow DAX 9,734.33 1.27
Arrow CAC-40 4,369.52 1.50
Arrow Nikkei 15,343.28 0.84
Arrow H.Seng 23,782.11 1.69
Arrow Sensex 26,025.80 1.21

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln