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Mexico central bank sells $200mn in currency auction MEXICO CITY: Mexico's central bank sold $200 million on Wednesday in an auction aimed at providing liquidity amid foreign currency market volatility. The sale does not feature a minimum price, but the weighted average of the auction was 16.5342 pesos per dollar with a total of $444 million demanded. Copyright Reuters, 2015 ...

SoftBank President Arora to buy $480mn of company's shares TOKYO: SoftBank Group Corp President Nikesh Arora said he is buying about 60 billion yen ($483 million) worth of the company's shares over the next six months, calling it a show of "commitment" to his employer. "I have decided to take a personal bet on the SoftBank Group and ensure an alignment of vision with our founder, Chairman and CEO Masayoshi Son," Arora said in a press release from SoftBank. Arora plans to buy the ...
Floating Russia's rouble rate caused volatility but prevented bankruptcies MOSCOW: Russian central bank's decision to introduce a floating rouble rate regime last year has caused volatility on the forex market but helped to prevent bankruptcies and unemployment, the central bank said in a statement on Wednesday. The Russian rouble has lost around a half of its value since last year hit by Western sanctions put on Moscow due to its role in the Ukraine crisis, along with falling oil prices. Weak rouble helps to ...
US fed funds rate holds at 0.15pc NEW YORK: The US federal funds rate , which banks charge each other to borrow excess reserves, averaged 0.15 percent for a second day on Tuesday, according to Federal Reserve data. The average or effective fed funds rate, which the Fed targets to achieve its rate objective, traded in a range of 0.06 percent to 0.3125 percent, compared with 0.07 percent to 0.35 on Monday, Fed data released on Wednesday showed. This interbank lending rate ...
South Korea watchdog approves Hana-KEB bank merger SEOUL: South Korea's financial regulator on Wednesday gave the green light for Hana Financial Group to combine its two flagship bank units, clearing the way for the creation of the country's largest lender by assets.Hana Financial, the country's third-largest banking group, has wanted to merge Hana Bank and Korea Exchange Bank (KEB) since it acquired KEB from a US buyout fund in 2012.The green light from the Financial Services Commission came after shareholders and KEB's ...
Deutsche Bank mulls selling activities in China, India: report FRANKFURT: Deutsche Bank, Germany's biggest lender, is considering selling its stake in Chinese group Hua Xia Bank and divesting its retail banking activities in India, the business daily Handelsblatt reported on Wednesday. Deutsche Bank spent a total 1.3 billion euros ($1.4 billion) in amassing a stake of nearly 20 percent in Hua Xia Bank between 2006 and 2010, the newspaper said. At current prices, that stake is now worth around 3.3 billion euros, but no ...
Bundesbank calls for independent watchdog on EU budgets FRANKFURT: The head of the German central bank, or Bundesbank, called Friday for an independent body to be set up to ensure eurozone countries abide by the bloc's budget rules. "Given the current role of the EU Commission, there's a lot to be said for transferring its tasks of budget monitoring and rule inspection to an independent authority," Bundesbank president Jens Weidmann wrote in an article for the weekly magazine Focus. Weidmann accused Brussels of ...


Index Closing Chg%
Arrow DJIA 16,528.03 0.69
Arrow Nasdaq 4,776.51 1.07
Arrow S&P 1,927.18 0.84
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,259.46 0.38
Arrow CAC-40 4,652.95 0.47
Arrow Nikkei 18,890.48 1.28
Arrow H.Seng 21,670.58 0.27
Arrow Sensex 26,283.09 0.41

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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln