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Egypt's central bank to hold rates after inflation pick-up CAIRO: Egypt's central bank is expected to keep interest rates on hold on Thursday, choosing not to cut borrowing costs to boost a slowing economy after inflation fell slightly in April from a five-month high in March. Four of five economists surveyed by Reuters said they expected the bank's monetary policy committee (MPC) would keep its overnight rates unchanged at 9.75 percent for lending and 8.75 percent for deposits at its meeting. "In what is likely to be a close call, we think the Central Bank of Egypt will keep its benchmark overnight deposit rate unchanged at 8.75 percent when the MPC meets," Capital Economics said in a research note. Price pressures reached a five-month high in March, due in part to a weaker pound, but has since eased in April. Urban consumer inflation fell to 11 percent in April, the last month for which data is available, from 11.5 ...

Deutsche Bank shares soar nearly 8pc after co-chiefs resign FRANKFURT: Shares of European financial giant Deutsche Bank soared nearly 8 percent on the Frankfurt stock exchange Monday, the day after its co-chief executives announced they were resigning as the banking group faces a wave of scandals and missed profit targets.Deutsche Bank shares on the DAX 30 index shot up 7.91 percent to 29.80 euros around 0705 GMT, with the overall market essentially flat.Germany's largest lender is mired in around 6,000 different litigation cases and ...
Deutsche Bank's co-chiefs resign FRANKFURT: European financial giant Deutsche Bank announced Sunday its co-chief executives are stepping down as the banking group faces a wave of scandals and has failed to meet profit targets this year. Anshu Jain will resign at the end of June, while Juergen Fitschen plans to stay on in the job until after Deutsche Bank's annual shareholder meeting in May 2016. Deutsche Bank said it has appointed supervisory board member John Cryan, 54, to take ...
Record fine for Lloyds bank for mistreating customer complaints LONDON: British regulators on Friday said they had fined Lloyds Banking Group £117 million ($179 million, 160 million euros) for unfair treatment of customer complaints after they were mis-sold an insurance product.The Financial Conduct Authority (FCA) said it had issued its largest ever retail banking fine to LBG "for failing to treat their customers fairly when handling Payment Protection Insurance complaints between March 2012 and May 2013", according to a statement.It comes after Lloyds and ...
Bundesbank upgrades German growth forecasts for 2015, 2016 FRANKFURT: The German central bank, or Bundesbank, upgraded Friday its growth forecasts for this year and next year, saying activity in Europe's biggest economy was being supported by both domestic and foreign demand.The Bundesbank said in a statement it was expecting gross domestic product (GDP) to expand by 1.7 percent in 2015, by 1.8 percent in 2016 and 1.5 percent in 2017. Previously, the central bank had been pencilling in growth of 1.0 percent for ...
RBI cuts rates for third time to put Indian growth on firmer footing MUMBAI: India's central bank cut interest rates for a third time this year on Tuesday, taking advantage of subdued inflation to lend more support to an economy that the bank itself says is not doing as well as latest impressive growth numbers suggest.The Reserve Bank of India also left open the possibility of further cuts later this year, even with forecasts of a below-average monsoon that could put pressure on food prices.The quarter point reduction ...
Bangladesh May remittances up 8.5pc year-on-year DHAKA: Money sent home by Bangladeshis working overseas in May rose 8.5 percent from a year earlier to nearly $1.32 billion, the central bank said on Tuesday.In July-May, the first 11 months of the 2014-15 financial year, Bangladesh received about $13.87 billion in remittances, up 7.2 percent from the same period of the previous year.Remittances from its millions of citizens abroad are critical for the South Asian nation of 160 million people.The inflows are a ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln