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ECB tells Greek banks not to buy any more Greek government debt BERLIN: The European Central Bank has written to Greek banks urging them not to increase their exposure to Greek sovereign debt to avoid endangering the solidity of their finances, a source told AFP on Wednesday.The ECB, which took over as European banking supervisor last November, was concerned about the risk "that (Greek banks') balance sheets might be impaired by assets of low quality," said the source familiar with the central bank's thinking on the matter. In a "communication" this week, the ECB urged banks "not to increase their risks," the source said. "It is something (the banks) should take seriously," it added. Earlier, both the Financial Times and the Wall Street Journal reported that the ECB had written to the banks asking them not to increase their risk exposure. The ECB itself declined to comment on the information. Greek banks are currently the main source of financing for the Greek ...

Bank of China profit growth slowest in six years as bad loans jump SHANGHAI: Bank of China Ltd (BoC) posted its slowest fourth-quarter net profit growth in six years on Wednesday as losses on bad assets doubled and unpaid loans jumped against a backdrop of a slower economy.China's fourth-largest lender reported net profit for the fourth quarter of 38.5 billion yuan ($6.2 billion), five percent higher than a year earlier and in line with analyst estimates, according to Thomson Reuters data.Rising bad loans and lower profit growth show ...
Indonesia central bank sees pressure on rupiah in March-June JAKARTA: Indonesia's central bank expects the rupiah to remain under pressure through June this year as dollar demand rises for dividend payments, Bank Indonesia Governor told parliament on Wednesday.The rupiah fell to its lowest level in 17 years last week at 13,245 per dollar. Though it has since recovered some ground to trade at 12,960 on Wednesday, it has still lost more than 4 percent against the greenback so far this year.Subsidiaries of multinational companies ...
Philippine central bank to hold rates on strong growth, low inflation MANILA: The Philippine central bank is expected to leave its main policy rate steady on Thursday and keep it unchanged for at least a few more months as low inflation and solid economic growth allow it to buck the global tide of monetary policy easing.All 11 economists polled by Reuters expect the Bangko Sentral ng Pilipinas (BSP) to leave the overnight borrowing rate steady at 4 percent for a fourth straight meeting.At least one analyst ...
Australia to join Asia infrastructure bank if conditions met SYDNEY, Australia will join a China-backed infrastructure bank if conditions such as multilateral and transparent governance are met, Prime Minister Tony Abbott said Wednesday, flagging an announcement "in the next few days".China and 20 other countries signed a memorandum last October of understanding to establish the Beijing-headquartered US$50 billion Asian Infrastructure Investment Bank (AIIB) bank.Britain, France, Germany and Italy have also announced plans to join.But Washington has voiced concern about whether the bank would meet ...
HSBC chairman says new banker accountability rules are reasonable LONDON: New rules being rolled out to make bankers more accountable were "entirely reasonable" given the pain Britain suffered in the financial crisis, HSBC Chairman Douglas Flint said on Tuesday. The new "senior managers' regime" will make top bankers directly accountable for rule breaches on their patch from 2016, but it has been criticised by some bankers and financial lawyers for going too far and hard to apply in practice. The rules reverse the "burden ...
India's central bank rejects Tata offer for DoCoMo's Teleservices stake MUMBAI: Indian conglomerate Tata Sons Ltd on Tuesday said the country's central bank has rejected its request to buy Japanese group NTT DoCoMo Inc's stake in their Indian telecom joint venture at a premium to its current fair value.In January the Reserve Bank of India had said it was "inclined to accept" Tata's proposal to pay $1.1 billion for DoCoMo's near 26 percent stake in Tata Teleservices, the seventh-biggest mobile phone network operator, but had ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 20, 2015
Reserves $16.132 bln