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Spain shows fastest growth in six years: central bank MADRID: Spain's economy grew at the fastest pace in six years in the first quarter of 2014, the central bank said Thursday in a preliminary estimate.Available data indicated that economic output climbed by 0.4 percent on a quarterly basis in the first quarter, the largest expansion since a decade-long property boom imploded in 2008, the Bank of Spain said.Copyright AFP (Agence France-Presse), 2014 ...

Credit Suisse hires Deutsche banker to cover power, utilities NEW YORK: Credit Suisse Group AG has hired a senior banker from Deutsche Bank AG to boost its global power and renewables practice, according to an internal memo reviewed by Reuters.Jonathon Kaufman, who was a managing director at Deutsche Bank's natural resources group, will join Credit Suisse in July and help cover power producers and utility companies, the memo said. A Credit Suisse spokesman confirmed the contents of the memo.The appointment comes about a month ...
Marcato Capital Management makes new bet on Dillard's NEW YORK: Hedge fund manager Mick McGuire of Marcato Capital Management has taken a new position in Dillard's and is betting the retailer's stock can climb to $155 a share, which would mark a 62 percent gain from its current level.McGuire said in a regulatory filing on Wednesday that the department store operator has been turning itself around by closing underperforming stores, cutting expenses and buying back shares.He did not reveal the size of Marcato's ...
India central bank says reserve money grew 8.9pc on year in week to April 18 MUMBAI: India's reserve money rose an annualised 8.9 percent in the week to April 18, faster than 7.6 percent a year earlier, the Reserve Bank of India said on Wednesday. Currency in circulation grew 9.7 percent year-on-year in the week to April 18, compared with 10.6 percent a year earlier. Copyright Reuters, 2014 ...
ECB's Hansson: Must keep an eye on euro exchange rate TALLINN: The European Central Bank must keep an eye on the euro exchange rate to assess whether it poses a risk to the medium-term inflation outlook, ECB Governing Council member Ardo Hansson said on Wednesday. In recent weeks, the ECB has spoken frequently about the currency and warned that any further strengthening could lead it to use unconventional tools such as asset purchases.Hansson, the head of the Estonian central bank, told Reuters on the sidelines ...
Eurozone deficits improve, debt mounts: Eurostat BRUSSELS: Eurozone public finances improved in 2013 as the economy finally turned the corner on a record recession but total debt levels remained dangerously high, official data showed on Wednesday.The average eurozone government deficit -- the shortfall between revenue and spending -- came in at 3.0 percent last year, in line with the EU ceiling and down from 3.7 percent in 2012, the Eurostat statistics agency said.Total accumulated debt, however, increased to 92.6 percent of ...
French fiscal watchdog deems govt growth forecasts ‘optimistic’ PARIS: France's independent fiscal watchdog said on Wednesday the government's growth forecasts for 2016 and 2017 were "optimistic", while the 1.7 percent target for 2015 was attainable but dependent on favorable circumstances. The High Council for Public Finances, weighing in on the government's three-year budget plan ahead of its submission to the European Commission later, said the government's forecast for 1.0 percent growth in 2014 was "realistic." The government's budget outline, which is partly based ...

 



 
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Banking Review 2013


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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln