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Bank of Cyprus sells UK loan portfolio NICOSIA: Cypriot lender Bank of Cyprus has agreed to sell a UK loan portfolio to Mars Capital Finance and Camael Mortgages for 361 million euros ($465 million), it said on Thursday. The loan portfolio is largely composed of residential and commercial real estate-backed facilities, Bank of Cyprus said in a statement. It was part of a wider UK loan portfolio transferred to the group after its acquisition of now-defunct Laiki Bank in March 2013 and was not related to Bank of Cyprus UK, the Group's wholly-owned subsidiary. Bank of Cyprus has been gradually deleveraging and disposing of overseas assets after it was forced to convert its own depositors' cash into equity to recapitalise in early 2013. The process, known as a 'bail-in', was a condition of international lenders the IMF and the EU for Cyprus to receive 10 billion euros in bailout aid. The bank successfully managed to raise 1 ...

SNB keeps cap on franc, stands ready to take further measures ZURICH: The Swiss National Bank kept its cap on the franc at 1.20 per euro on Thursday, reiterating its commitment to defend the limit with currency interventions and take further measures immediately if necessary. It kept its target range for the three-month Libor at 0.00-0.25 percent, as analysts polled by Reuters all expected. The Swiss franc has strengthened towards the 1.20 threshold in recent weeks, fanning speculation about whether the central bank might take action ...
Indonesia central bank introduces new rules in bid to deepen FX trading JAKARTA: Indonesia's central bank on Thursday introduced a set of rules for foreign exchange trading in a bid to encourage more derivative trading and deepen the market. Four new regulations issued on Thursday included changes in the rules for forward or option FX transactions.From now on, all customers doing a transaction above $1 million must provide underlying documentation. Until now, they have only had to provide such a document to roll over a transaction. Bank ...
BoJ's Kuroda says ready to act if price target threatened TOKYO: Bank of Japan Governor Haruhiko Kuroda said on Thursday the central bank will not hesitate to adjust monetary policy if risks threaten the achievement of its price target. He also said the world's third-largest economy will continue recovering moderately with the pain from a sales tax hike in April seen gradually subsiding. "Exports will gradually increase reflecting improvements in the global economy," Kuroda told an annual meeting of securities firms. Data released on Thursday ...
Turkish central bank opens 3bn lira repo auction ISTANBUL: The Turkish central bank on Thursday opened a one-week, fixed-rate repo auction with a volume of 3 billion lira ($1.35 billion), bank data showed. The repo matures on Sept. 25.Copyright Reuters, 2014 ...
Australia central bank sold A$381mn in August SYDNEY: The Reserve Bank of Australia (RBA) sold A$381 million ($341 million) of Australian dollars on a net basis on the spot foreign exchange market during August, central bank data shows.The RBA manages the forex needs of the government, which for example may need foreign currency to buy military hardware or pay embassy wages, and that usually makes up the vast bulk of its spot transactions in any month.The RBA sold A$408 million for foreign ...
UniCredit seen picking talks partner for Pioneer towards end-Sept: sources LONDON: UniCredit, Italy's biggest bank by assets, is expected to pick a partner for exclusive talks to buy a stake of up to 50 percent in its asset management division Pioneer towards the end of September, two sources familiar with the matter said. The sources said on Wednesday Spanish bank Santander and a consortium comprising private equity fund CVC Capital Partners and Singapore sovereign fund GIC were the two strongest contenders, even though US fund ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklySeptember 25, 2014
Reserves $13.305 bln