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Capital One slips on Main Street bank victory lap WASHINGTON: Capital One has slipped up on Main Street banks' victory lap. A slew of mid-sized lenders this week announced fourth-quarter earnings that beat estimates as Wall Street giants faltered. The credit-card titan, though, fell short as its provisions for loan losses rose. Though small, it's a sign that an industry slowdown may be more likely than an earnings boom. The Virginia-based firm actually did fairly well in the fourth quarter. Earnings jumped 17 percent compared with the final three months of 2013.That's even more impressive considering that revenue was only up about 5 percent. That performance is at least as good, if not better, than most of its regional rivals and easily bests most big Wall Street mega-banks. Its efficiency ratio, which measures how much revenue is spent on costs, is among the industry's lowest at 56.5 percent. The bank run by Richard Fairbank only undershot the sell-side analysts' ...

Peru central bank cuts view of 2015 growth to 4.8pc LIMA: Peru's central bank on Friday cut its view of economic growth in the global minerals producer this year to 4.8 percent from its previous forecast, made in December, for an expansion of 5.2 percent to 5.5 percent. The central bank also said in a quarterly report that the economy likely grew 2.4 percent in all of 2014, under its previous estimate of between 2.6 and 3 percent and well below surging rates that topped ...
US Fed awards $129.84bn reverse repos Friday NEW YORK: The Federal Reserve on Friday awarded $129.84 billion of fixed-rate reverse repurchase agreements to 53 bidders at an interest rate of 0.05 percent, the New York Federal Reserve said on its website. On Thursday, the US central bank allotted $168.18 billion in overnight reverse repos to 51 bidders, including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.05 percent. Thursday's amount was the highest ...
Russia details bank recapitalisation scheme MOSCOW: Russian banks with at least 25 billion roubles in capital and willing to increase lending to key sectors of the economy will be able to participate in a 1 trillion rouble ($15.65 billion) recapitalisation plan, Russia announced on Friday. The banks would also need to raise capital from other sources equivalent to 50 percent of the amount they receive, Finance Minister Anton Siluanov Siluanov said in an emailed statement giving details of the scheme ...
Mexico central bank seen holding rate steady, hiking in Q3 MEXICO CITY: Mexico's central bank is expected to hold its benchmark interest rate steady at a record low next week despite a deep slump in the peso and amid cooling inflation, analysts surveyed by Reuters said on Friday. All 20 analysts polled by Reuters expect the Banco de Mexico to hold its key rate at 3.00 percent on Jan. 29, after inflation slowed to 3.08 percent in early January after earlier spiking above the central ...
Spain bank BBVA sells stake in China's CNCB MADRID: Spanish banking giant BBVA said Friday it will sell half of its stake in Chinese lender CNCB for 1.46 billion euros ($1.64 billion) to strengthen its capital base.BBVA, Spain's second-biggest bank by market value, said it was selling the 4.9-percent stake to one of China's biggest real estate firms, Xinhu Zhongbao, via Swiss bank UBS.The deal will leave BBVA with a 4.7-percent stake in China CITIC Bank Corporation Limited (CNBC) with a net capital ...
Rise in euro forgeries in second half of 2014: ECB FRANKFURT: The number of counterfeit euro banknotes withdrawn from circulation increased in the second half of 2014, the European Central Bank said on Friday. A total of 507,00 fake banknotes were removed from circulation in the period from July to December, a jump of 44 percent from the second half of 2013, the Frankfurt-based institution said in its twice-yearly counterfeits survey."The number of counterfeits, however, remains very low in comparison with the increasing number of ...


Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln