Just in:  

You are here: Home»Business»Banking & Finance

Banking & Finance


Russian central bank likely spent $700mn defending rouble on Friday-traders MOSCOW: Russia's central bank has probably spent $700 million in forex market interventions on Friday to defend the rouble, two traders said. The rouble hit a new low against the dollar in early trade on Friday, shrugging off the central bank's rate hike the day before as oil prices continued to slide. But it erased some of its losses later in the day to be 1.7 percent weaker by 0952 GMT at 57.4 versus dollar. "This, without doubt was the central bank. I believe it went out to defend the 58 roubles mark and sold some $700 million for a short time," said Alexei Vorobyov, head of forex operations department at Vozrozhdenie bank. Copyright Reuters, 2014 ...

Ugandan central bank holds lending rate at 11pc KAMPALA: Uganda's central bank held its benchmark lending rate at 11 percent on Friday, citing upward pressure on inflation from growing consumer demand and a weaker currency. The Ugandan shilling has lost 10 percent against the dollar this year after demand for imports rose, in line with the broader weakening of currencies across emerging markets. "There may be further exchange rate depreciation pressures and food prices may rise by more than expected if harvests are ...
Turkish central bank injects 21bn lira in repo, bids 40.82bn lira ISTANBUL: Turkey's central bank on Friday injected 21 billion lira ($9.23 billion) into the market in a one-week repo auction at a fixed rate simple rate of 8.25 percent, central bank data showed. Total bids for the repo, which matures on Dec. 19, were 40.82 billion lira, it said. Copyright Reuters, 2014 ...
Spanish public debt at 96.8pc of GDP in third quarter MADRID: Spain's public debt was 96.8 percent of Gross Domestic Product in the third quarter, up from 96.4 percent in the second, the Bank of Spain said on Friday. The amount stood at 1.02 trillion euros, setting it on course for the government's full-year target of 99.5 percent of GDP.Copyright Reuters, 2014 ...
Bank of Cyprus shares to resume trading on Dec. 16 NICOSIA: Bank of Cyprus shares will resume trading on the Cyprus Stock Exchange on Dec. 16, bourse authorities said on Friday, some 21 months after the stock was suspended during a chaotic bailout of Cyprus. The stock will start trading at 0.24 euros a share, the stock exchange said in a statement. Bank of Cyprus shares were suspended in March 2013 after international lenders forced it to absorb a loss-making bank, Laiki, and seize a ...
Hungary eyes new deal with battered banks: PM BUDAPEST: Hungary's government will open a "new chapter" in its relations with the country's banks and will soon sign a new deal to reduce the burdens on the sector in return for increased lending, Prime Minister Viktor Orban said.Orban told the daily Napi Gazdasag in an interview published on Friday that the government, which has recently bought two large banks, saw potential Hungarian buyers for banks operating in the country, including local lenders and stock ...
Australia budget concerns a 'real issue': central bank SYDNEY: Australia's central bank governor Friday called on the nation's politicians to tackle the "real issue" of the country's growing budget deficit, saying action was needed to retain credibility in financial markets.Treasurer Joe Hockey is expected to unveil a further blowout in the government's federal deficit in his mid-year economic and fiscal outlook Monday, with some estimates of a Aus$5 billion (US$4.1 billion) increase to Aus$35 billion.Government revenue has been hurt by sharp declines in ...


Index Closing Chg%
Arrow DJIA 17,356.87 1.69
Arrow Nasdaq 4,644.31 2.12
Arrow S&P 2,012.89 2.04
Arrow FTSE 6,336.48 0.07
Arrow DAX 9,544.43 0.20
Arrow CAC-40 4,111.91 0.46
Arrow Nikkei 16,819.73 0.38
Arrow H.Seng 22,585.84 0.37
Arrow Sensex 26,710.13 0.27

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln