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BOJ meets as economic slump, tax delay cast doubt over outlook TOKYO: The Bank of Japan is expected to hold policy steady when its two-day meeting ends on Wednesday, but what it has to say about the country's slide into recession may unsettle markets already digesting the government's decision to call a snap election.Prime Minister Shinzo Abe said on Tuesday he was postponing next year's sale tax hike and calling an early poll to get a fresh mandate for his reflationary economic policies that have so far struggled to show lasting results.The delay in raising the sales tax stokes worries that the BOJ's ultra-easy monetary stance is bank-rolling an alarmingly high public debt, already the highest among major economies.Having stunned markets with a surprise monetary easing on Oct. 31, the BOJ now gobbles up almost the same amount of government bonds issued each month, a move critics describe as tantamount to debt monetisation.In deploying the stimulus, BOJ Governor Haruhiko Kuroda stayed ...

US repo rate rises from 5-1/2 week low NEW YORK: A key overnight borrowing cost for banks and Wall Street firms rose on Tuesday after falling to a 5-1/2 week low.The interest rate on overnight repurchase agreements (repo) in which banks and bond dealers use Treasuries and other securities as collateral to raise cash to fund their trades was quoted at 0.10-0.13 percent, according to ICAP.This compared with 0.07 percent late on Monday, which was the lowest closing level, ICAP data showed.Monday's drop ...
Indonesia central bank raises interest rates after fuel price rise JAKARTA: Indonesia's central bank, moving quickly to contain inflation after the government raised fuel prices more than 30 percent, hiked its benchmark interest rate by 25 basis points to 7.75 percent on Tuesday.In his first major economic policy decision, President Joko Widodo on Monday night raised subsidised gasoline and diesel prices by more than 30 percent to help fund his reform agenda and tackle the country's budget and current account deficits."The increase of BI Rate ...
Bank of Spain says bad loans fall to 13.02pc in September MADRID: Spanish banks' bad debts as a percentage of total loans was 13.02 percent in September, slightly below the 13.24 percent registered a month earlier, the Bank of Spain said on Tuesday. The ratio of bad loans to total lending fell as the net value of credit in the financial system and soured loans dropped to 1.39 trillion euros ($1.74 trillion) and 180.52 billion euros respectively in September. Copyright Reuters, 2014 ...
Turkish central bank injects 5bn lira in repo auction, bids 9.69bn ISTANBUL: The Turkish central bank on Tuesday injected 5 billion lira ($2.25 billion) into the market in a one-week repo auction at a fixed simple rate of 8.25 percent, central bank data showed. Total bids for the repo, which matures on Nov. 25, were 9.69 billion lira, it said. Copyright Reuters, 2014 ...
China's FDI slows again in October, services sector in favour BEIJING: China's foreign direct investment fell for the fourth straight period on a cumulative basis in October, underscoring investor caution as the world's second-largest economy cools.China drew $95.9 billion in foreign direct investment (FDI) in the first 10 months of 2014, the Ministry of Commerce said on Tuesday, down 1.2 percent from a year earlier.In October alone, the country attracted $8.5 billion in FDI, up 1.3 percent from a year earlier, the ministry said.Investment flows ...
China central bank approves offshore yuan investment programme SHANGHAI: China's central bank has approved a pilot programme allowing some domestic institutional investors to buy offshore yuan products, the official Shanghai Securities News said, as Beijing pushes ahead in internationalizing its currency.The People's Bank of China (PBOC) has recently approved the so-called Renminbi Qualified Domestic Institutional Investor (RQDII) programme, the newspaper reported on Tuesday, without saying which institutions would be qualified to participate. To elevate the yuan's status as a global currency, Beijing has ...

 



 
Index Closing Chg%
Arrow DJIA 17,828.24 0.01
Arrow Nasdaq 4,791.63 0.09
Arrow S&P 2,067.56 0.25
Arrow FTSE 6,722.62 0.01
Arrow DAX 9,980.85 0.06
Arrow CAC-40 4,390.18 0.18
Arrow Nikkei 17,459.85 1.23
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Arrow Sensex 28,693.99 0.90






Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln