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Morgan Stanley warns it could lose $292mn in subprime suit NEW YORK: Morgan Stanley warned on Monday it could lose some $292 million in a lawsuit filed by Deutsche Bank over subprime mortgages.Deutsche Bank, through the Deutsche Bank National Trust Company, filed a suit against Morgan Stanley last month.The German bank says Morgan Stanley knowingly passed on to it mortgages with an original principal balance of $735 million that were in fact toxic, according to a statement from Morgan Stanley.A New York court has rejected the US bank's attempts to have the suit thrown out, Morgan Stanley said.Morgan Stanley could incur a loss of up to approximately $292 million, plus pre- and post-judgement interest, fees and costs, it said.Copyright AFP (Agence France-Presse), 2015 ...

Philippine central bank says April CPI supports policy stance MANILA: Latest data showing that Philippine inflation hit its lowest in nearly two years in April "affirm the appropriatness" of the central bank's monetary policy, the head of Bangko Sentral ng Pilipinas said on Tuesday.Governor Amando Tetangco said policymakers will nevertheless keep watching developments, especially the actions of the US Federal Reserve and how markets react to its decisions because of their potential impact on Philippines inflation expectations.The consumer price index rose 2.2 percent in ...
ANZ Bank interim net profit up 3pc SYDNEY: The Australia and New Zealand Banking Group on Tuesday posted a modest first half net profit rise of three percent to Aus$3.5 billion (US$2.7 billion), spurred by growth in both domestic and international operations.ANZ's cash profit, which strips out one-off and other items and is a measure often preferred by financial institutions, jumped five percent to Aus$3.7 billion in the six months to March 31.The better-than-expected result came a day after fellow banking giant ...
Only 5pc of bank aid recovered: Spain central bank MADRID: Spain has recovered only five percent of 51.3 billion euros ($57.2 billion) of state aid given to the country's banking sector since 2009 to prevent its collapse, the Bank of Spain said on Monday.A total of 53.55 billion euros were provided to Spain's banking sector via a restructuring fund in the aftermath of the financial crisis, including 2.25 billion euros of contributions from the private sector.Of the remaining 51.3 billion euros, only 2.67 billion ...
Australia's central bank cuts interest rate to 2.0pc SYDNEY: Australia's central bank on Tuesday cut the official cash rate by 25 basis points to a new record low of 2.0 percent, its first easing since February amid a soft economic outlook."At today's meeting, the board judged that the inflation outlook provided the opportunity for monetary policy to be eased further, so as to reinforce recent encouraging trends in household demand," Reserve Bank of Australia governor Glenn Stevens said in a statement.Copyright AFP (Agence ...
Norway central bank survey sees weaker growth ahead OSLO: Norway's output growth has increased in line with previous expectations but the outlook was revised down, the central bank said on Monday in a survey of enterprises that will be key to its rate decision on Thursday. "Expectations regarding output growth ahead have been revised down somewhat from January," the bank said in a survey of 73 companies. The phone survey, a smaller version of the bank's quarterly regional network survey, is one of ...
Egypt central bank sells $500mn in interbank market CAIRO: Egypt's central bank said on Monday it sold $500 million in the interbank market to meet outstanding demand for "strategic staple food commodities" with the approach of the Muslim holy month of Ramadan, which begins in mid-June. The bank sold $281 million in the interbank market last month and $420 million in March to meet similar demand for dollars.Copyright Reuters, 2015 ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln