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Brazil banking shares sink on concern of higher tax burden SAO PAULO: Shares in the largest Brazilian listed banks fell on Thursday on concern the government might be preparing steps to raise taxation of commercial banking activities to help plug a swelling budget deficit. According to weekly magazine Exame, Finance Minister Joaquim Levy told Febraban, the group representing the nation's banks, that the government is considering increasing a type of income taxes known as CSLL to 17 percent from 15 percent currently. The magazine did not say how it obtained the information. Following the congressional scrapping of a tax on financial transactions in 2008, Brazilian banks have been subject to a higher tax burden than other sectors. A tax hike could add to current industry headwinds ranging from a recession to fallout from a corruption scandal involving the largest state company and major engineering firms - all key bank clients.Still, analysts at Ita? BBA and Banco Brasil Plural said the ...

HSBC says facing French criminal probe over 'SwissLeaks' LONDON: British banking giant HSBC said Thursday it is facing a French criminal probe over its Swiss private banking arm, weeks after "SwissLeaks" allegations it had helped clients hide billions from the taxman.HSBC said in a statement that "it has been placed under formal criminal investigation by the French magistrates in connection with the conduct of HSBC's Swiss Private Bank in 2006 and 2007 for alleged tax-related offences".The probe is in addition to one launched ...
Bank of Japan holds off further easing measures TOKYO: The Bank of Japan held off further easing measures on Wednesday as it struggles to drag up the country's flatlining inflation that is defying a massive stimulus programme launched two years ago.The central bank stayed pat on its record stimulus programme, which is adding about 80 trillion yen ($663 billion) to the money supply every year.After a two-day meeting, the BoJ said in a statement consumer inflation was likely to be about zero "for ...
Turkish central bank opens 1bn lira repo auction ISTANBUL: Turkey's central bank opened a 1 billion lira ($386 million) one-week repo auction on Wednesday, bank data showed.Copyright Reuters, 2015 ...
BNP Paribas appoints new country head for Malaysia KUALA LUMPUR: BNP Paribas, France's largest bank, said on Wednesday it appointed Philippe Aroyo as country head for Malaysia and chief executive of BNP Paribas Malaysia Bhd with immediate effect.Aroyo, who has been with BNP for 26 years, takes over the role from Krishna Chetti, who will move to take on a new position.Prior to the new appointment, Aroyo was the country head for BNP Paribas United Arab Emirates (UAE) since 2008Copyright Reuters, 2015 ...
Australia court rules in ANZ's favour on credit card fees SYDNEY: An Australian court ruled in favour of one of the country's biggest banks on Wednesday in a long-running case over credit card fees, but lawyers for a class action hoping to reclaim millions vowed to fight on.In early 2014, Justice Michelle Gordon of the Federal Court in Melbourne found that ANZ's credit card late fees of up to Aus$35 (US$26.85) far exceeded the true costs of dealing with late payments and were illegal.But a ...
Hundreds of flights scrapped as French air traffic controllers strike PARIS: Hundreds of flights to and from France were expected to be cancelled Wednesday as air traffic controllers launched a two-day strike over working conditions.The civil aviation authority has asked airlines to scrap around 40 percent of flights, warning of "disruption across the whole country."Flag carrier Air France warned of "very severe disruption" to its flight schedule. Although it pledged to operate "almost all" long-haul flights, medium and short-haul services would be badly affected, it ...


Index Closing Chg%
Arrow DJIA 18,080.14 0.12
Arrow Nasdaq 5,092.09 0.71
Arrow S&P 2,117.69 0.23
Arrow FTSE 7,070.70 0.24
Arrow DAX 11,810.85 0.74
Arrow CAC-40 5,201.45 0.44
Arrow Nikkei 20,020.04 0.83
Arrow H.Seng 28,060.98 0.84
Arrow Sensex 27,437.94 1.07

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln