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ECB to keep interest rates low, Europe must boost investment: Coeure AIX-EN-PROVENCE: The European Central Bank will keep interest rates very low for a very long period of time to ensure monetary stability but governments must also work to boost growth, ECB executive board member Benoit Coeure said.Speaking at an economic conference on Sunday, Coeure said governments must do their part by cutting debt and boosting investments. "The only way out is by investing," he said, adding that the current economic situation was very worrying.He urged euro zone countries to make sure that flexibility in the bloc's stability pact is used wisely and based on reforms that have been "proven", not on mere pledges.Copyright Reuters, 2014 ...

Saudi Hollandi Bank Q2 net profit jumps 28.1pc on higher income DUBAI: Saudi Hollandi Bank posted a 28.1 percent increase in second-quarter net profit on Sunday, boosted by higher operating income. The kingdom's oldest bank and its seventh-largest listed lender by assets made a net profit of 480.3 million riyals ($128.1 million) in the three months to June 30, compared with 374.8 million riyals in the corresponding period of 2013, it said in a statement. It cited higher operating income - which increased 17 percent year-on-year ...
ECB's Lautenschlaeger does not see bond-buying: paper FRANKFURT: European Central Bank executive board member Sabine Lautenschlaeger said she does not see the ECB embarking on a bond-buying spree in the near future, according to a German newspaper report."I absolutely do not see the purchase of government bonds on the horizon," she told Frankfurter Allgemeine Sonntagszeitung, according to an excerpt of an article to be published on Sunday.She said a large-scale purchase of bonds would only be an option if the ECB faced ...
Airbus says ‘jury still out’ on A330neo airshow launch AIX-EN-PROVENCE: Airbus Group has not decided whether it will launch its proposed A330neo jet at this month's Farnborough Airshow but is confident about the outlook for plane orders at the gala event, its strategy chief Marwan Lahoud said on Saturday.Airbus has drawn up plans to revamp its biggest-selling wide-body passenger jet to preserve a second front in its competition with the delayed Boeing 787 Dreamliner in addition to the new A350-800.Lahoud said "the jury is ...
Bank of Cyprus says will explore interest for capital increase NICOSIA: Bank of Cyprus, the Cypriot lender which recapitalised in 2013 using customer deposits, said it would engage directly with institutional investors for a possible capital increase. The bank said any capital transaction would be structured in a manner allowing existing shareholders to participate. Bank of Cyprus, which briefly came under control of regulators following a tumultuous international bailout of Cyprus a year ago, has come under strong pressure from the central bank to up ...
Banks to return 4.0bn euros in crisis loans to ECB next week FRANKFURT: Banks will return 4.015 billion euros ($5.48 billion) in long-term loans to the European Central Bank next week, after the ECB started to charge for holding banks' excess cash overnight and promised more long-term loans.The amount that banks will repay on July 9 is slightly less than this week's crisis-loan repayments of 4.48 billion euros and just under 4.3 billion forecast in a Reuters poll.The ECB cut interest rates last month to record lows ...
Sri Lanka central bank sees no overheating despite lower rates COLOMBO: Sri Lanka's economy can achieve its growth target this year without risk of overheating, central bank governor Ajith Nivard Cabraal said on Friday, despite interest rates at multi-year lows. The central bank has been maintaining low interest rates since January and yields in government treasuries have also dropped to multi-year lows. The island nation's economy expanded 7.6 percent in the first quarter of this year, slowing from 8.2 percent in the previous quarter. The ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln