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Political interference in Kabul Bank prosecution KABUL: An inquiry into the theft of some $900 million which led to the near-collapse of Afghanistan's largest bank has found there was high-level political interference over who should face prosecution.   "Information received during the inquiry indicates that the final decision about who to indict was made at the political level in the spring of 2011 by a high-ranking committee," the inquiry report said Wednesday.   Copyright AFP (Agence France-Presse), 2012 ...

Bankia, Banco de Valencia trading suspended MADRID: Trading in two Spanish banks, Bankia and Banco De Valencia, already nationalised because of their financial difficulties, has been suspended, banking regulators CNMV announced Wednesday.   The announcement came the day after the news that Banco de Valencia was to be taken over by Caixabank, the third largest in Spain. In Bankia's case, the CNMV referred to what it described as circumstances that could disturb trading in its stocks.   Copyright AFP (Agence France-Presse), 2012 ...
China BEIJING: Chinese banks including Agricultural Bank of China Ltd and China Construction Bank Corp are rushing to sell up to 150 billion yuan ($24 billion) of subordinated debt by the year-end ahead of tougher issuance rules, bank disclosures show.   That would surpass the 100 billion yuan of subordinated bonds issued year-to-date, according to Thomson Reuters data.   Under the new rules, the funds raised by banks through subordinated bonds won't be counted as part of their capital base, ...
Hungary central bank cuts rates by 25 bps to 6pc  BUDAPEST: Hungary's central bank cut interest rates by another 25 basis points to 6 percent on Tuesday, its fourth rate reduction in a row, in line with market expectations.   Hungary's base rate is now a full percentage point lower than in August, when the divided Monetary Council began an easing cycle to unshackle the shrinking economy, saddled with domestic austerity and a slowdown in exports.   Governor Andras Simor will hold a news conference about the decision at ...
Bankia junior debt holders MADRID: Junior debt holders in Spain's Bankia could lose as little as 10 percent of the face value of their investment as a condition for the nationalised lender to receive European aid, a source involved in the talks said.   The likely loss will range from 10 percent to around 50 percent, a level which Reuters reported last week.   Many junior debt holders, who rank behind other creditors in Spain's state-rescued lenders, are customers who entrusted their life ...
BoE officials speak to parliament committee on economy  LONDON: Bank of England Governor Mervyn King and other policymakers spoke to the British parliament's treasury committee about the central bank's quarterly economic outlook on Tuesday.   Following are highlights of remarks from King, BoE executive director for markets Paul Fisher and external members of the Monetary Policy Committee Paul Fisher, Ben Broadbent and Martin Weale.   KING COMPLETELY CONFIDENT WITH CARNEY   "I think anyone who holds down a job like mine wants very much on the day when they ...
Allied Irish Banks expects lower full-year provisions  DUBLIN: State-owned Allied Irish Banks (AIB) expects a material reduction in provisions against bad debt this year after the rise in arrears in its mortgage and business loan books slowed in the four months to October 31.   The loss-making bank, which has received more 20 billion euros ($26 billion) of state support, set aside 8.2 billion euros for provisions last year, a hangover from the bursting of a huge property bubble.   Tuesday's trading statement also said that ...


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 6,819.75 0.20
Arrow DAX 9,470.17 0.08
Arrow CAC-40 4,381.04 0.34
Arrow Nikkei 15,424.59 0.23
Arrow H.Seng 24,742.06 0.01
Arrow Sensex 26,638.11 0.29

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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