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New Zealand further reduces interest rates WELLINGTON: New Zealand snipped a further 0.25 percentage points off interest rates on Thursday, the third reduction this year, and with the central bank suggesting further easing was likely in coming months.The cut in the official cash rate (OCR) to 2.75 percent was widely expected following similar reductions in June and July."Domestically, the economy is adjusting to the sharp decline in export prices, and the consequent fall in the exchange rate," bank governor Graeme Wheeler said in a statement."Several factors continue to support growth, including robust tourism, strong net immigration, the large pipeline of construction activity in Auckland and other regions, and, importantly, the lower interest rates and the depreciation of the New Zealand dollar." Wheeler said further depreciation was appropriate given the sharpness of the decline in New Zealand's export commodity prices. The New Zealand economy is now growing at an annual rate of around 2.0 percent. Wheeler said ...

Deutsche Bank merges listed derivatives unit into prime services arm LONDON: Deutsche Bank has merged its listed derivatives and markets clearing unit into its prime services arm following the departure of the unit's head Michelle Neal last month, a source with direct knowledge of the matter said. The unit will now report to Dixit Joshi, the bank's global head of prime services. A spokesman for Deutsche Bank declined comment. Prime brokers provide services such as securities lending and trade clearance for hedge funds. Neal left ...
Russia's VTB plans to invest 16bn rbls in Postal Bank MOSCOW: Russia's second-largest bank VTB will invest 16 billion roubles ($234.6 million) in Postal Bank, a project it is creating in partnership with Russia's state-run Russian Post, VTB's chief executive said on Monday. VTB's Andrey Kostin added to reporters that he hoped Postal Bank could break even from 2016. The new Postal Bank will have one of the largest branch network in the country, thanks to Russian Post offices. Postal Bank will be created using ...
Germany to top-up 2030 Linker by 1bn euros on Tuesday: Bundesbank BERLIN: Germany will reopen its 2030 inflation-linked bond at an auction on Tuesday, when it plans to offer another 1 billion euros ($1.11 billion) of the benchmark issue, the Bundesbank said on Monday. Germany has already issued 5 billion euros worth of the bond. Bidding for the top-up operation will run from 8.00 a.m. until 11.30 a.m. local time (0600-0930 GMT), the Bundesbank said in a statement.Copyright Reuters, 2015 ...
Kenya's central bank sells dollars to boost shilling NAIROBI: Kenya's central bank sold dollars on Monday after the shilling weakened to its lowest level since October 2011, traders said. "Yes, the central bank was in the market," said one trader at a Nairobi-based commercial bank. A second trader confirmed the bank had sold dollars. Traders said the shilling had reached the 106.40 level, close to its four-year low, when the bank intervened. The central bank said earlier on Monday it planned to mop ...
Russia central bank to introduce new liquidity requirement for big banks from Jan 1 MOSCOW: Russia's central bank said on Monday it had formally decided to introduce new liquidity rules for systemically important banks related to the Basel III regulatory framework. From Jan. 1 next year, systemically important banks will have to maintain a minimum liquidity coverage ratio (LCR) of 70 percent. The minimum LCR will increase by 10 percentage points each year to reach 100 percent from Jan. 1, 2019.The banks listed as being systemically important when the ...
Beijing admits stock bubbles, says routs almost over BEIJING: China's central bank governor and its market regulator have admitted that there were "bubbles" on the country's stock exchanges, after a spectacular rally was followed by a painful bust, but said the turbulence was coming to an end.The benchmark Shanghai Composite Index soared more than 150 percent in the year to June 12, fuelled by debt rather than fundamentals and encouraged by authorities.It has since plummeted nearly 40 percent, with official interventions to the ...


Index Closing Chg%
Arrow DJIA 16,790.19 0.08
Arrow Nasdaq 4,748.36 0.69
Arrow S&P 1,979.92 0.36
Arrow FTSE 6,326.16 0.43
Arrow DAX 9,902.83 0.90
Arrow CAC-40 4,660.64 0.95
Arrow Nikkei 18,186.10 1.00
Arrow H.Seng 21,831.62 0.10
Arrow Sensex 26,932.88 0.55

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln