01222017Sun
Last update: Sun, 22 Jan 2017 03pm

Banking & Finance

Business & Finance - Banking & Finance

South Africa's net foreign reserves fall to $40.809bn in Dec JOHANNESBURG: South Africa's net foreign reserves fell to $40.809 billion in December from $41.077 billion in November, the Reserve Bank said on Monday. Gross reserves rose to $47.356 billion from $47.043 billion, the central bank's data showed.The forward position, which represents the central bank's unsettled or swap transactions, fell to $1.771 billion in December from $2.412 billion in the previous month.Copyright Reuters, 2017 ...

Business & Finance - Banking & Finance

China Dec forex reserves fall for 6th month, near $3 trillion level BEIJING: China's foreign exchange reserves fell to near six-year lows in December, but held just above the critical $3 trillion level, as authorities stepped in to support the weakening yuan ahead of U.S. President-elect Donald Trump's inauguration.China's reserves shrank by $41 billion in December, slightly less than feared but the sixth straight month of declines, data showed on Saturday, after a week in which Beijing moved aggressively to punish those betting against the currency and ...

Business & Finance - Banking & Finance

China Dec forex reserves fall for 6th month, near $3trn level BEIJING: China's foreign exchange reserves fell to near six-year lows in December, but held just above the critical $3 trillion level, as authorities stepped in to support the weakening yuan ahead of US President-elect Donald Trump's inauguration. China's reserves shrank by $41 billion in December, slightly less than feared but the sixth straight month of declines, data showed on Saturday, after a week in which Beijing moved aggressively to punish those betting against the currency ...

Business & Finance - Banking & Finance

Romania central bank holds rates, says budget impact unclear BUCHAREST: Romania's central bank kept its benchmark interest rate unchanged at a record low of 1.75 percent on Friday, striking a balance between the twin impacts of negative inflation and the government's fiscal expansion plans. Central Bank Governor Mugur Isarescu said inflation would return to positive territory in the first quarter, but that it would be lower than initially forecast. Consumer prices fell a greater-than-expected 0.7 percent on the year in November and were in ...

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ECB's Mersch says too early to declare victory over weak economy PARIS: It is still premature to declare victory over economic weakness in the euro zone despite the latest figures showing a pick-up in inflation, European Central Bank Executive Board member Yves Mersch said on Friday. "Statistics from just one month is not going to change our position," Mersch told a conference in Paris. Mersch, considered a hawk, added that wages were not growing fast enough in the bloc to fuel inflationary pressure. Inflation - below ...

Business & Finance - Banking & Finance

Bank Indonesia still has room for monetary easing JAKARTA: Indonesia's central bank still sees room for easing monetary policy, but will keep an eye on inflation risks, a deputy governor said on Friday. "If we look at domestic conditions and see conducive conditions, of course there is still some room for easing," Bank Indonesia Deputy Governor Perry Warjiyo told reporters."To push for growth, we are using liquidity more (and looking at) how to push liquidity so that the banking sector issues more credit," ...

Business & Finance - Banking & Finance

Deutsche Bank agrees to pay $95mn to settle US tax fraud case NEW YORK: Deutsche Bank, Germany's biggest bank, has agreed to pay $95 million to settle a tax fraud case brought by the US Justice Department, the federal prosecutor in charge has announced.Preet Bharara, the US attorney for the Southern District of New York, said Deutsche Bank used a "web of shell companies and calculated transactions" to try to evade paying tens of millions of dollars in taxes.The US government "has made Deutsche Bank admit to ...