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Australia holds interest rates at record low SYDNEY: Australia's central bank on Tuesday kept interest rates at a record low of 2.0 percent, opting against a further cut that would put more downward pressure on the country's dollar.The Reserve Bank of Australia (RBA) last moved its official cash rate in May when it slashed 25 basis points to a historic low as it tries to spur economic growth.The bank said Tuesday that while domestic growth remained below longer-term averages, jobs growth had strengthened and indications were that "moderate expansion" was continuing in the economy. "At its meeting today, the board decided to leave the cash rate unchanged at 2.0 percent," central bank governor Glenn Stevens said in a statement almost identical to the one issued in September. "Overall, the economy is likely to be operating with a degree of spare capacity for some time yet, with domestic inflationary pressures contained." The "Aussie" dollar rose after the announcement, ...

UK plans $3bn Lloyds share sale to private investors LONDON: Britain's finance ministry said it will sell at least 2 billion pounds ($3 billion) worth of shares in Lloyds Banking Group to private retail investors in spring 2016 to return the bank to full private ownership. The sale is set to be the biggest privatisation in Britain since the 1980s, when Margaret Thatcher's government sold 3.9 billion pounds worth of shares in British Telecom and 5.6 billion pounds worth of British Gas shares. As ...
UK government plans $3bn Lloyds retail share sale in spring 2016 LONDON: Britain's finance ministry will sell at least 2 billion pounds ($3.04 billion) in Lloyds Banking Group to retail investors in spring 2016 as part of plans to return the bank to full private ownership, it said on Monday.The shares will be offered to retail investors at a discount of 5 percent to the market price, with a bonus share for every 10 shares for those who hold their investment for more than a year. ...
RBC leads rise in Canadian equity issues despite choppy markets TORONTO: Royal Bank of Canada led a rise in the value of Canadian equity issues for the first nine months of 2015, overcoming a slowdown in the third quarter due to increased choppiness in equity markets. Equity financings rose to C$36 billion ($27.23 billion) in the period, compared with C$33.6 million a year ago, according to Thomson Reuters data released on Friday. BMO Capital Markets was No. 2 in the league table rankings, followed by ...
Russia's Sberbank to see profit fall by third or half in 2015 MOSCOW: Sberbank, Russia's largest bank, will see its profit fall by either a third or half in 2015 compared with a year earlier, its Chief Executive German Gref said in conflicting comments on Friday. Gref said in a televised interview at a conference in Sochi that Sberbank's profit in 2015 would be half as much as in 2014. But he later told journalists from Russian news agencies that the bank's profit this year would likely ...
Deutsche Bank to invest more to prevent money laundering FRANKFURT: Deutsche Bank plans to invest more in technology to prevent money laundering, according to the head of the division that processes its transactions. Germany's biggest bank was hit by a scandal over suspected money laundering at its Moscow office over the summer and last month said it was closing part of its business in Russia as part of a review of its global structure. It has also yet to settle with US authorities over ...
Bundesbank official says monetary stimulus will not boost growth in long term FRANKFURT: Short-term stimulus from central banks cannot help the economy to grow in the longer term, a senior official at Germany's central bank said on Thursday. The comments from Andreas Dombret show the Bundesbank's continued scepticism about any extension of the European Central Bank's 1-trillion-euro-plus money printing programme. "Moderate potential growth cannot be increased on a long-term basis by means of short-term macroeconomic stimulus measures," Dombret, who sits on the German central bank's executive board, ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln