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Deutsche Bank co-CEO to face trial on false testimony charges     FRANKFURT: Deutsche Bank co-chief Juergen Fitschen will face trial in April on allegations he gave false evidence in a long-running legal battle with the defunct Kirch group, the court said Monday. Fitschen and four others -- ex-CEOs Rolf Breuer and Josef Ackermann and former executives Clemens Boersig and Tessen von Heydebreck -- were all indicted last September and charged with the alleged attempted deception in the long-running case. All five have denied any wrongdoing.The higher regional court in Munich said in a statement on Monday that the trial would begin on April 28, with a total 13 hearings set aside lasting until at least August. The executives have been accused of giving misleading evidence to judges in one of the suits brought by the late media magnate Leo Kirch against the bank. Leo Kirch, who died aged 84 in 2011, had accused Deutsche Bank of causing the downfall of his ...

Ukraine's central bank offers to buy dollars at 26.86 hryvnia KIEV: Ukraine's central bank offered on Monday to buy dollars at a rate of 26.86 hryvnias on the interbank market, following three interventions last week to limit volatility for the struggling national currency.On Friday, the bank bought $62.35 million at a rate of 27.5 hryvnias to the dollar. The hryvnia has halved in value so far in 2015, having weakened 50 percent last year. On Monday, the average rate of bank trades for Ukraine's hryvnia ...
Russian central bank seen holding rates as inflation soars MOSCOW: Russia's central bank will hold its interest rates steady this month as inflation stays in double digits despite an economic slump, a Reuters poll predicted on Monday. The economy is set to see its first recession this year since the aftermath of the global financial crisis as sanctions imposed on Moscow for its role in the Ukraine conflict and a sharp drop in oil prices bite. These pressures have also led to a steep ...
Deutsche Bank bets big on US for investment bank growth NEW YORK: From its tower on Wall Street, Deutsche Bank enjoys a commanding view of lower Manhattan. Its target is to gain a presence in investment banking which is nearly as dominant. As Germany's largest bank prepares to announce a new strategy, possibly before the end of this month, it is packing its ranks with Wall Street veterans and preparing to give its division focused on capital markets, trading and advisory an even bigger role. ...
Morgan Stanley says New York Attorney General may file lawsuit NEW YORK: Morgan Stanley said on Monday that the New York Attorney General's office has indicated that it intends to file a lawsuit alleging that the Wall Street bank misrepresented or omitted material information in about 30 subprime securitizations. In its annual 10-K regulatory filing, Morgan Stanley said it does not agree with the allegations and presented defenses to the New York Attorney General. It also said legal expenses last year rose to $3.41 billion ...
Indonesia sees rupiah trading in 3-5pc range this year JAKARTA: Indonesia's central bank said on Monday it expected the rupiah to trade within a 3 to 5 percent range from 12,500 per dollar this year.The government had assumed the rupiah to trade at 12,500 per dollar on average in 2015 in the state budget."The 12,500 level is average for a year and it is possible that it (the rupiah) will strengthen or weaken by 3 to 5 percent," Bank Indonesia Governor Agus Martowardojo told ...
JGBs edge down ahead of 10-year auction TOKYO: Japanese government bonds edged down on Monday as investors prepared for the following day's monthly auction of 10-year JGBs, with the Bank of Japan's bond-buying operations providing some support to the market. The BOJ offered to buy 50 billion yen ($417 million) of JGBs maturing in one year, 240 billion yen in the 10-year to 25-year zone and another 140 billion yen maturing in more than 25 years under its massive JGB purchase programme.The ...


Index Closing Chg%
Arrow DJIA 18,135.72 0.21
Arrow Nasdaq 4,982.81 0.32
Arrow S&P 2,101.04 0.12
Arrow FTSE 6,961.14 0.6
Arrow DAX 11,504.01 1.00
Arrow CAC-40 4,963.51 0.94
Arrow Nikkei 18,751.84 0.26
Arrow H.Seng 24,193.04 1.11
Arrow Sensex 29,448.95 0.23

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $16.137 bln