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Greece's Alpha Bank, Eurobank detail allocation of share issue ATHENS: Greece's Alpha Bank said on Monday new shares issued to fill a capital hole identified in a European Central Bank (ECB) health check would be allocated to investors in a bookbuilding process and to bondholders who took part in a debt-for-equity swap. Rival Eurobank said 80 percent of the new shares it sold in a share offering completed last week were allocated to investors in the placement, while the remaining 20 percent went to bondholders who took part in a debt-for-shares swap. Eurobank and Alpha, Greece's third and fourth largest lenders, are plugging their capital shorfall without state aid after investors showed strong interest in their share sales, giving a sign of confidence Greece can start growing again. Rivals Piraeus and National however were likely to require help from the country's bank rescue fund.Eurobank had orders of 2.6 billion euros, more than the 2.04 billion it was looking to ...

Fed's Tarullo says worried about too-low inflation WASHINGTON: Federal Reserve Governor Daniel Tarullo said on Monday there is still a lot of uncertainty on inflation and that the path of interest rate hikes should be influenced by how much inflation moves towards the Fed's 2 percent target rate. "It's hard to overlook the fact that both market-based measure of inflation compensation and survey-based measures of inflation expectations are sort of near historic lows it will be important for us to keep our ...
Norway central bank chief says monetary policy contributing to currency's weakness JEVNAKER: The Norwegian economy has been made more competitive by the weakening of the country's crown currency, central bank Governor Oeystein Olsen said on Monday. Norges Bank has cut its key policy rate three times in the last year, and the value of crown has dropped by about 12 percent on a trade weighted basis. "Monetary policy alone can't be credited with this, as the oil price has been the initial driver, but in a ...
Poland to seek review of EU refugee deal after Paris attacks WARSAW: Poland's new government said on Monday the attacks on Paris showed the need for a review of a European Union agreement struck earlier this year to take in refugees under a quota system. Hundreds of thousands of people have reached Europe as Syrian refugees in recent months, including at least one person using a passport found at the scene of the attacks. That man is thought to have travelled with another, who also blew ...
Bank of Cyprus posts nine-monthly net of 73 million euros NICOSIA: Cypriot lender Bank of Cyprus posted a net profit of 73 million euros ($77.5 million) in the first nine months of the year, it said on Monday, compared with 76 million in the corresponding period of 2014. The bank said it was engaged in a dialogue with the European Central Bank (ECB) on its capital position and did not expect to be required to raise any capital. Bank of Cyprus, which was forced to ...
Bankers are still paid too much: Deutsche Bank's Cryan FRANKFURT: More than seven years after the financial crisis, bankers in general are still paid too much, Deutsche Bank Chief Executive John Cryan told an academic conference on Monday. "Compensation is still too high," Cryan told the conference ethics and culture in the financial sector at Goethe University. "We've just paid people too much across the board." While many people in the banking sector were working to improve their performance each day, there were still ...
Hungary's central bank: weak corporate lending may jeopardise recovery BUDAPEST: Hungary's central bank said on Monday that a dearth of corporate lending risks slowing economic recovery and that its latest stress tests had shown banks were in a good position to withstand financial shocks.The central bank has been urging commerical lenders to take on more corporate debt since they started deleveraging in the 2008-2009 financial crisis. Banks say demand from eligible corporate borrowers has remained weak.In its twice-yearly financial stability report, the central bank ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln