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Barclays CEO vacancy will be a headache to fill LONDON: Barclays will struggle to find the right replacement for Antony Jenkins. The UK bank dismissed its chief executive of three years on July 8, and a 3 percent share price jump suggests it was right to do so. But the lender is in a strategic logjam which will make candidates think twice about applying for the job. Jenkins was well-intentioned, but beset by bad luck and ill-starred judgments. In 2013 he reshaped the bank's strategy to grow its capital base, but the Bank of England wrong-footed him by forcing him to raise 5.8 billion pounds immediately. Jenkins' focus on ethics was welcome, but initially seemed to take precedence over more pressing operational challenges in the investment bank. Jenkins' ethical credentials then suffered because he hiked investment bank bonuses even though returns had fallen. Underlying Jenkins' departure is the sense he'd lost the confidence of the investment bank - hardly ...

Bank of Italy liabilities towards other central banks up in June MILAN: The Bank of Italy's liabilities towards other central banks of the euro zone rose in June to 189 billion euros ($207 billion) from 164 billion euros a month earlier, data showed on Tuesday. The Bank of Italy's position within the Target 2 system, which settles cross-border payments in the euro zone, is monitored because its rising can be a sign of financial stress. But seasonal factors also affect it.In December Italy's Target 2 position ...
Malaysian central bank defends ailing ringgit amid political storm SINGAPORE: Malaysia's central bank intervened for a third successive trading day on Tuesday to support the ringgit currency, traders said, as corruption allegations swirled round Prime Minister Najib Razak, raising doubts over his grip on power. Thanks to Bank Negara's damage limitation, the ringgit has lost only 0.8 percent since the political storm broke on Friday, but it has weakened past an old currency peg of 3.80 per dollar, fixed in September 1998 during the ...
Australia's central bank holds interest rate at 2.0pc SYDNEY: Australia's central bank Tuesday kept interest rates on hold at 2.0 percent for the second-straight month, saying accommodative monetary policy was needed with economic growth subdued.The Reserve Bank of Australia has slashed rates 250 basis points since November 2011 to support the resources-dependent economy as it experiences a sharp fall in mining investment after an unprecedented boom that has helped avoid a recession for more than two decades.In a statement mostly identical to the ...
Kenya's central bank seeks to mop up 24bn shillings NAIROBI: Kenya's central bank said on Monday it planned to mop up 24 billion shillings ($240.00 million) in excess liquidity from the money markets. The bank uses repurchase agreements (repo) and term auction deposits (TAD) to absorb the liquidity, which makes expensive to hold dollars, which in turn contributes to a stronger shilling. Copyright Reuters, 2015 ...
Indonesia central bank governor sees a trade surplus for June JAKARTA: Indonesia will likely report a trade surplus in June, the central bank governor said on Monday. "I haven't gotten the latest estimation. But generally, the trade balance will be in surplus," Agus Martowardojo told reporters when asked about June trade data. The statistics bureau will release June trade data on July 15. Southeast Asia's largest economy had a trade surplus of $950 million in May, its sixth straight monthly surplus. Copyright Reuters, 2015 ...
German banks see limited risk of contagion from Greek 'No' FRANKFURT: The German banking federation said Monday it sees little danger of contagion for the wider euro area from the Greek crisis after Greece voted against the austerity measures demanded by its creditors."Regardless of the outcome of the referendum, we do not expect an increased risk of contagion for other euro countries," the head of the BdB federation, Michael Kemmer, said in a statement. Kemmer argued that the new structures put in place in Europe ...


Index Closing Chg%
Arrow DJIA 17,550.69 0.27
Arrow Nasdaq 5,105.55 0.19
Arrow S&P 2,093.32 0.22
Arrow FTSE 6,686.57 0.03
Arrow DAX 11,456.07 0.11
Arrow CAC-40 5,112.14 0.16
Arrow Nikkei 20,520.36 0.14
Arrow H.Seng 24,406.12 0.02
Arrow Sensex 28,071.93 0.41

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln