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Greek central bank cautiously upbeat ATHENS: Greece now has "relatively few" problems left to solve following a "very rough" several years of recession and harsh austerity cuts, the country's central bank said Thursday in a cautiously upbeat annual report."In the past few years, we have covered some very rough ground at high cost to the whole of Greek society," central bank governor Yannis Stournaras said."If we can address the relatively few issues still pending and complete the first phase of the effort launched in 2010, we will then be able to move on to the next phase, in which the growth potential of the economy will be considerably enhanced."He was also upbeat on economic output after last year's return to growth of 0.7 percent following six straight years of recession in which gross domestic product (GDP) contracted more than 25 percent."Based on the latest available data, GDP growth is projected to be positive in 2015 ...

Outgoing Allianz CEO blasts ECB bond buy plan MUNICH: The chief executive of Europe's largest insurer, Allianz, on Thursday blasted the European Central Bank's ultra-cheap money policy as a threat to the single currency's cohesion and a driver of further financial market ructions."We are very skeptical about this policy of 'cheap money' in the euro zone," Diekmann said in remarks on the insurer's 2014 results before he turns over the company's helm to Oliver Baete in May."Its benefits are controversial; from a political ...
Standard Chartered bank says CEO to depart LONDON: The chief executive of Asia-focused bank Standard Chartered will step down in June, the company said Thursday, following poor results, job cuts and fines for failing to detect possible money-laundering."Peter Sands will stand down from the Board and as Group Chief Executive in June 2015," the British bank said in a statement, adding that he would be replaced by former JP Morgan co-CEO Bill Winters.The bank's chairman John Peace praised Sands, who became the ...
Singapore Temasek says welcomes Standard Chartered’s new CEO SINGAPORE: Singapore state investor Temasek Holdings welcomed on Wednesday the appointment of Bill Winters as Standard Chartered's new chief executive."We take this opportunity to welcome Bill Winters as the next CEO of Standard Chartered, to build on and grow its excellent franchise," Temasek said in a statement."He brings with him considerable experience as well as an excellent reputation for building good teams.""This on-going process for board renewal must continue as the requirements and challenges facing ...
Euro zone lending falls slightly in January FRANKFURT: Lending to households and firms in the euro zone fell by 0.1 percent in January, a slower pace of decline than in the previous month, while money supply grew by 4.1 percent, the European Central Bank said on Thursday.Sparce lending to companies continues to dog the struggling economy of the 19-country euro zone. Earlier this year, the ECB laid down a plan to spend hundreds of billions of euros on government bonds.In monthly 60 ...
StanChart picks ex-JPMorgan exec Winters as CEO to replace Sands LONDON: Asia-focused bank Standard Chartered said former JPMorgan investment bank boss Bill Winters will take over as chief executive in June to replace embattled boss Peter Sands.Standard Chartered said on Thursday Chairman John Peace will also leave next year, and named other changes to its board in a massive overhaul in management following a run of problems for the UK bank prompted top shareholders to call for change.Copyright Reuters, 2015 ...
South Korea to sell 7.65trn won T-bonds in March SEOUL: South Korea plans to sell 7.65 trillion won ($6.98 billion) worth of treasury bonds through auctions in March, the same as the amount planned for February, the finance ministry said on Thursday.The Ministry of Strategy and Finance also said it would buy back 1.0 trillion worth of treasury bonds ahead of maturity next month.Copyright Reuters, 2015 ...


Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
Arrow CAC-40 4,951.48 0.83
Arrow Nikkei 18,797.94 0.06
Arrow H.Seng 24,823.29 0.32
Arrow Sensex 29,220.12 1.65

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln