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ECB sees rising chances of market selloff but few bubbles FRANKFURT: The chances of an abrupt reversal in global markets are rising but overall financial stability risk in the euro area is low, the European Central Bank said on Wednesday, supporting arguments for further monetary stimulus possibly as soon as next week.The ECB will debate policy easing on Dec. 3 with opponent arguing that ultra loose momentary policy raises the risk of bubbles and lowers banking profitability, creating systemic vulnerabilities and making the easing self defeating.But the ECB said the financial system handled recent bouts of volatility well and the biggest risk is external, stemming from emerging markets and the risk of faster-than-expected rate hikes by the U.S. Federal Reserve."There is in general a low level of systemic risk in the euro area," ECB Vice President Vitor Constancio told a news conference."There are risks, of course, and the main one is associated with the possible reversal of risk premia... which ...

ECB's Honohan says signs of results from QE but needs to continue DUBLIN: There are signs that the European Central Bank's quantitative easing is producing results but the bank needs to continue accomodative policies, ECB governing council member Patrick Honohan said on Wednesday."I think we can see results, not a huge bounce back to a 2 percent inflation rate, but I think if we didn't have it we would be looking at a worse situation," Honohan told journalists in Dublin on his last day as Irish Central ...
China allows first foreign institutions into interbank FX market BEIJING: The first batch of foreign central banks, sovereign wealth funds and international financial institutions have been registered to enter China's interbank foreign exchange market, the country's central bank said on Wednesday.This registration comes ahead of a highly-anticipated announcement by the International Monetary Fund on Monday that China's yuan may join its foreign exchange basket.That would place the yuan on par with the U.S. dollar , Japanese yen, British pound and euro in the exclusive ...
Sberbank posts Q3 profit of 65bn roubles, beats forecast MOSCOW: Russia's top bank Sberbank said on Wednesday it had made 65.1 billion roubles ($997.40 million) in net profit in the third quarter, 8.2 percent lower than a year earlier.Analysts had estimated the bank would make 61.4 billion roubles of profit in July-September, versus 70.9 billion roubles in the same period in 2014.Copyright Reuters, 2015 ...
Deutsche Bank to cut most German jobs in private client ops: Handelsblatt FRANKFURT: Deutsche Bank's private clients business is to shoulder the lion's share of planned job cuts in Germany, daily Handelsblatt reported on Wednesday, citing a memo to the lender's works council.Deutsche Bank said last month it would slash 15,000 jobs and shed businesses employing some 20,000 staff. Around 4,000 cuts, net of new hires, are to be in its German home market.According to Handelsblatt, the Private & Business Clients division is to see more than ...
U.S. judge holds Bank of China in contempt for withholding records A U.S. judge held Bank of China Ltd in contempt on Tuesday for refusing to turn over account information of Chinese entities accused of selling counterfeit luxury goods.U.S. District Judge Richard Sullivan in Manhattan, firing off the latest salvo in the battle between China and the United States over financial transparency and national sovereignty, held that the bank must pay a fine for withholding its customers' records.Sullivan said he would likely decide on the amount ...
Call to reopen a private bank in Karakh KHUZDAR: Karakh people demanded of the State Bank authorities to take steps to reopen a private United Bank Limited (UBL) which was closed for one week ago in Karakh area of the district.They said that the UBL has been closed from seven days ago by its staff in Karakh due to unknown reason and adding that citizens including employees and traders are suffering difficulties in the area.They urged the State Bank authorities to take measures ...


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ArrowS&P 2,088.87 0.01
ArrowFTSE 6,393.13 0.88
ArrowDAX 11,320.77 1.35
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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln