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Kenya's central bank to mop up 21bn shillings NAIROBI: Kenya's central bank sought to mop up 21 billion shillings ($212 million) from the market on Thursday saying there was excess liquidity.The bank uses repurchase agreements (repo) and term auction deposits (TAD) to try and minimise liquidity, in order to make it a bit more expensive for people to bet against the shilling, thus offering a measure of stability in the currency market.Copyright Reuters, 2015 ...

Romania central bank governor: continuing IMF aid deal is key to reforms BUCHAREST: Romania should continue to have some sort of aid agreement with the International Monetary Fund and the European Commission, as this is key to continuing economic reforms, Central Bank Governor Mugur Isarescu said on Wednesday. Romania has a standby aid deal with the IMF that expires in September and it is unclear whether it will be renewed. Romania has defied the lenders with a programme of sweeping tax cuts, despite warnings that these would ...
ELA, the ECB's financial lifeline for Greek banks FRANKFURT: The European Central Bank meets again Wednesday to decide whether to keep open the Emergency Liquidity Assistance or ELA programme for Greece.ELA was originally intended as a lifeline for solvent lenders that get into a cash jam, but has become a tool to keep the entire Greek economy alive while Athens and its creditors try to find a way out of their current deadlock. With bailout talks having failed and Greece since defaulted on ...
Deutsche Bank's new chief wants time to decide on strategy FRANKFURT: Deutsche Bank's new chief, John Cryan, said Wednesday that he intends to take until the autumn to consider how to tackle the current challenges facing Germany's biggest lender. Without calling into question his predecessors' strategy, which he himself approved as member of Deutsche Bank's supervisory board, the 54-year old Briton said he felt it "right to take the summer and early autumn to decide how to best execute those decisions. "We will therefore update ...
Japan business confidence hits best level since March 2014: BoJ TOKYO: Confidence among major Japanese manufacturers increased in the three months to June, beating expectations to rise to its highest level in more than a year, a Bank of Japan survey showed Wednesday.The central bank's closely-watched quarterly Tankan report showed the confidence index stood at plus 15 in June, up from plus 12 for the two previous surveys.The reading beat economists' median forecast that the index would stay flat at plus 12 and marked the ...
Chinese media see international bank as diplomatic coup BEIJING: The creation of the Chinese-led Asian Infrastructure Investment Bank is a bigger coup for Beijing than its hosting of the 2008 Olympics, state-run media said Tuesday after 50 countries signed its legal framework.China was spurred to create the AIIB after "unfair treatment" by Washington-led institutions, the Global Times said in an editorial, apparently referring to the World Bank and International Monetary Fund.The AIIB has been viewed by some as a rival to the World ...
ECB chief Mario Draghi in front line of Greek crisis FRANKFURT: European Central Bank chief Mario Draghi famously vowed in 2012 to "do whatever it takes" to save the euro.As the single currency area hurtles towards a possible "Grexit" three years later, the 67-year-old central banker is seeing that pledge put to the test.With the debt-battered Greek economy essentially cut off from normal financing, the breakdown of talks between Athens and its creditors last weekend has placed Draghi -- who insists the ECB is not ...


Index Closing Chg%
Arrow DJIA 17,757.91 0.79
Arrow Nasdaq 5,013.13 0.53
Arrow S&P 2,077.42 0.69
Arrow FTSE 6,608.59 1.34
Arrow DAX 11,180.50 2.15
Arrow CAC-40 4,883.19 1.94
Arrow Nikkei 20,329.32 0.46
Arrow H.Seng 26,250.03 1.09
Arrow Sensex 28,020.87 0.86

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln