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Mexico central bank holds interest rate at 4.5 percent MEXICO CITY: Mexico's central bank kept its benchmark interest rate at 4.5 percent on Friday, backing away from a threat to raise interest rates soon. The following is an unofficial translation of the central bank's statement: The Board of Governors of Banco de Mexico has decided to maintain the 4.5 percent target for overnight interbank interest rates. Global economic activity continues to show weakness. In the United States, forward-looking indicators continue to point to moderate growth, wherein the housing sector and other indicators have improved. However, the job market recovery has not been consolidated. Additionally, the possibility of a severe fiscal adjustment in 2013 is affecting domestic demand, particularly private investment. In the euro area, economic activity continues to contract and in 2013 is expected to continue to show great weakness.   In the face of this, the fiscal sustainability indicators of several euro zone countries have deteriorated. Uncertainty about the outlook for global economic activity ...

RBS India retail unit sale to HSBC falls through  LONDON: Royal Bank of Scotland's sale of its Indian retail and commercial banking operations to HSBC has fallen through more than two years after it was struck, leaving RBS to wind it down.   RBS agreed to sell the business to HSBC in July 2010. It has 31 branches, 400,000 customers and was profitable, with assets of 190 million pounds ($305 million) and revenues of 42 million pounds in the first nine months of this year.   The collapse ...
Spain savings bank Ibercaja to acquire Caja 3  MADRID: Spanish savings bank Ibercaja Banco will take over peer Banco Grupo Caja 3, formed by the fusion of three savings banks, the two lenders said on Thursday.   The acquisition will go ahead once Caja 3's restructuring plans are approved, the banks said.   Ibercaja needs to beef up its capital by 226 million euros ($293 million) to weather a serious downturn of the economy, according to an independent audit released in September, while Caja 3 had needs ...
RBC profit rises 22 percent on strong trading  TORONTO: Royal Bank of Canada's quarterly profit rose 22 percent on a sharp jump in fixed income trading revenue and steady loan growth, suggesting the long-awaited slowdown in Canadian consumer lending has yet to materialize.   RBC, Canada's largest bank and the first Canadian lender to report year-end results, said on Thursday it earned C$1.9 billion, or C$1.25 a share, in the fourth quarter ended Oct. 31.   That compared with a year-earlier profit of C$1.6 billion, or C$1.02 ...
BoE warns UK banks may lack enough capital  LONDON: The Bank of England stepped up pressure on commercial banks to shore up their capital on Thursday, days after the government chose a leader of the global push for tighter banking regulation to head the central bank.   The BoE's Financial Policy Commmittee (FPC), which from next year will take charge of British bank regulation, urged the current regulator to reassess whether banks' capital properly reflects the risk of loans going sour and future fines for ...
Reserve Bank of India to buy 120bn rupees of bonds in open market  MUMBAI: Reserve Bank of India will buy 120 billion rupees ($2.2 billion) of federal government bonds on Dec. 4 through open market operations (OMO), it said in a release on Thursday.   The Reserve Bank of India will buy 8.24 percent 2018 bonds, 8.19 percent 2020 bonds, 8.15 percent 2022 bonds and 8.28 percent 2027 bonds.   Copyright Reuters, 2012 ...
Euribor rates rise as ECB seen on hold  FRANKFURT: Key Euribor bank-to-bank lending rates rose for the first time in four weeks on Thursday, adding to signs they have found a floor as expectations for further interest rate cuts by the European Central Bank fade.   Bank-to-bank lending rates have fallen sharply since last November when ECB plans emerged to flood the banking system with ultra-cheap, three-year cash.    But the impact of the excess liquidity has now been largely priced in and there is uncertainty about ...


Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,825.31 0.08
Arrow DAX 9,479.03 0.09
Arrow CAC-40 4,379.73 0.03
Arrow Nikkei 15,476.60 0.34
Arrow H.Seng 24,752.09 0.04
Arrow Sensex 26,867.55 0.86

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln