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RBNZ adds yuan to NZ dollar index, slashes US dollar weighting WELLINGTON: The Reserve Bank of New Zealand on Monday announced changes in the way it calculates the domestic currency's trade-weighted value to better reflect its growing trading ties with China, while cutting the share of US dollars, euros and yen. As of Wednesday, the Australian dollar will comprise 21.98 percent of the index, the largest proportion and rising from 21.61 percent now, while the Chinese yuan will be added to make up 20.09 percent. The increase in the Australian dollar's weighting and the inclusion of the yuan reflect the impact that the values of those currencies have on the "kiwi" dollar given that Australia and China are New Zealand's two largest trading partners. The US dollar, which currently accounts for 31.71 percent of the index, will see its weighting cut to 12.34 percent this week while the euro component will fall to 10.87 percent from 26.85 percent. The British pound ...

Indonesia central bank say in forex market to smooth rupiah volatility JAKARTA: Indonesia's central bank said on Monday it was acting in the foreign exchange market to smooth out volatility of the rupiah against the US dollar, spokesman said. The spot rupiah fell beyond 12,600 to the dollar by mid-moprning, its lowest since August 1998, according to Reuters data. Peter Jacobs, Bank Indonesia spokesman, said that year-end demand as well as the strengthening US dollar led to the rupiah weakening. Copyright Reuters, 2014 ...
Japan business confidence down in December quarter: BoJ TOKYO: Confidence among major Japanese manufacturers edged down in the three months to December, a quarterly central bank survey showed Monday, underscoring the lacklustre state of the world's third largest economy.The Bank of Japan's closely watched Tankan survey showed confidence among large manufacturers stood at plus 12 against plus 13 in the September survey.Economists had expected the reading would stay flat, according to a survey by the leading business daily Nikkei.Confidence among non-manufacturing companies rose ...
Egypt to issue $1.1bn, 1-year T-bill on Tuesday CAIRO: Egypt's central bank said on Sunday it would offer a $1.1 billion one-year treasury bill to local banks and foreign financial institutions at an auction on December 16. Copyright Reuters, 2014 ...
Bundesbank chief critical of EU stance on French budget: report PARIS: Bundesbank President Jens Weidmann said the European Commission's decision to give France longer to prove it is serious about economic reform and fixing its excessive public deficit risks damaging the credibility of the bloc's budget rules."I would have hoped for clearer decisions. It would be unfortunate if the impression set in that (EU budget) rules are in the end up for negotiation and that budgetary consolidation can be perpetually put off by national governments," ...
Cyprus's Hellenic raises 201mn euro in new capital NICOSIA: Cyprus's Hellenic Bank has raised 201 million euros ($250.45 million) in new capital, covering the adverse scenario capitalisation shortfall of Europe-wide stress tests in October.The bank said its three major shareholders -- Wargaming, Third Point Hellenic Recovery Fund and Demetra Investments -- fully supported the rights issue.Stress tests found a 105 million euro gap in the capitalisation of Hellenic under adverse conditions. Hellenic said that the capital issue brought its common equity tier 1 ...
China's Tencent wins approval to start banking business SHANGHAI: China's Tencent Holdings Ltd has been given approval to start its banking operations, the banking regulator said, making the internet firm the first of five recently approved private banks to open its doors to clients.The launch of Tencent's private bank marks a gradual opening of China's closely guarded banking sector that is currently dominated by state giants. As part of broader efforts to channel more loans to the country's cash-starved small businesses, the banking ...

 



 
Index Closing Chg%
Arrow DJIA 17,356.87 1.69
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Arrow S&P 2,012.89 2.04
Arrow FTSE 6,336.48 0.07
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln