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India central bank moves to restrict bank exposure to corporate loans MUMBAI: The Reserve Bank of India (RBI) has proposed to lower the ceiling on how much a bank can lend to a single corporate group, in a move to curb risks in the banking sector at a time when bad loans are on the rise. Under the proposal, banks would only be allowed to lend up to 25 percent of their core capital, down from the earlier ceiling of up to 55 percent, starting Jan. 1, 2019.The central bank also said late on Friday it would consider setting a minimum percentage of capital requirements that companies must raise from corporate bond and commercial paper markets, saying the corporate sector had become too dependent on banks for their financial needs.The RBI requested feedback on its proposals by April 30. The central bank regularly issues discussion papers on proposals, which are not final measures.The RBI had said earlier that it planned to ...

Ukraine's export-import bank asks bondholders to put back $750 million repayment to July KIEV: Ukraine's export-import bank has asked bondholders to extend repayment on a five-year $750 million eurobond to July 27 this year, it said in a statement on the Swiss exchange. The loan had been due to be repaid on April 27, but Finance Minister Natalie Yaresko said this month that she wanted Eximbank's debt included in restructuring plans.Copyright Reuters, 2015 ...
Kenya's central bank says in market to mop up 10bn shillings NAIROBI: Kenya's central bank said on Friday it planned to mop up 10 billion shillings ($109 million) in excess liquidity from the money markets using repurchase agreements and term auction deposits.Mopping up excess liquidity makes it more costly to hold dollars, which partly lends support to the shilling.Copyright Reuters, 2015 ...
Co-op Bank sees more branch, job cuts after 2014 loss LONDON: Britain's Co-operative Bank will close 57 more branches this year and more in the future under a turnaround plan that saw it cut 15 percent of its staff last year and make a loss of 264 million pounds ($392 million).Co-op Bank is trying to recover from a near collapse in 2013, when it was hit by a yawning hole in its finances, a drugs scandal, an exodus of top executives, and posted a 633 ...
Dutch govt delays ABN Amro listing over executive pay row AMSTERDAM: The Dutch government said on Friday it had delayed a decision on when to privatise ABN Amro bank over a dispute about executive pay. Finance Minister Jeroen Dijsselbloem's move comes after the bank's supervisory board decided this week to increase the base salaries of most managers.ABN Amro was nationalised during the financial crisis of 2008, ultimately costing taxpayers 24 billion euros ($26 billion).The move to boost salaries of ABN Amro executive board members by ...
Turkey applies to join China-proposed Asian Investment Bank ISLAMABAD: Turkey has applied to join the Asian Infrastructure Investment Bank (AIIB) as a prospective founding member, the Chinese Ministry of Finance said.The AIIB is an international financial institution providing support to infrastructure projects in Asia. It is expected to be established by the end of this year,a statement, Xinhua reported on Friday.The application deadline for prospective founding members is March 31. Twenty-one countries signed a Memorandum of Understanding (MoU) last October in Beijing on ...
Swiss private bank UBP says to buy RBS's Coutts International ZURICH: Swiss private bank Union Bancaire Privee (UBP) said on Friday it had agreed to buy Royal Bank of Scotland's international private banking arm Coutts International."This acquisition confirms our commitment in further developing our wealth management business and represents a significant milestone in our growth strategy," UBP Chief Executive said in a statement. A spokeswoman for Coutts International said both parties had agreed not to disclose the price of the deal. Britain's Financial Times reported ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln