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US Fed awards $152.31bn reverse repos Monday NEW YORK: The Federal Reserve on Monday awarded $152.31 billion of overnight 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 Friday, the U.S. central bank allotted $157.52 billion in three-day reverse repos to 46 bidders including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.05 percent.Demand for Fed's RRPs tends to rise when the interest rate on repurchase agreements falls. The repo rate was last quoted at zero to 0.03 percent on Monday, compared with 0.02-0.05 percent on Friday, according to ICAP. Copyright Reuters, 2015 ...

Philippine central bank: Any rate hike need not be in sync with Fed MANILA: The Philippine central bank can afford to leave its policy settings on hold for most of this year, and the timing and magnitude of any interest rate hike would not be determined by the US Federal Reserve's actions, its governor said on Monday. The Philippine central bank was tightening policy last year as inflation picked up, and its tone remained hawkish even as many countries around the world eased policy -- including Indonesia last ...
HSBC says Swiss scandal has brought "shame" on bank LONDON: HSBC reported a 17 percent fall in annual pre-tax profit and cut its profitability target, saying allegations its Swiss business had helped customers to dodge taxes had brought shame on the bank.Results from Europe's biggest bank on Monday reflected the cost of past misconduct and of protecting itself against the impact of further scandals. HSBC said allegations about its Geneva-based arm, raided last week by Swiss officials and now the subject of a UK ...
Ukraine's central bank to strengthen currency controls KIEV: The head of Ukraine's central bank said on Monday the bank would tighten currency controls on importers in a move to defend the struggling national hyrvnia currency. The bank said it would control all prepayment for importers' contracts over $50,000 and any importer with a contract over $500,000 would need to have a letter of credit with a top-rated foreign bank. "We analysed the situation on the foreign exchange market and believe now is ...
German business morale edges up in February BERLIN: German business morale inched up to a seven-month high in February, a leading survey showed on Monday, suggesting Europe's largest economy is starting 2015 on a strong footing after growing robustly at the end of last year.Ifo's business climate index, based on a monthly survey of some 7,000 firms, increased to 106.8 in February from 106.7 in January. That was the highest reading since July, but below a Reuters consensus forecast for 107.7.Copyright Reuters, ...
HSBC bank says annual net profits sink 15pc to $13.7bn LONDON: Troubled global bank HSBC said Monday that net profits fell 15 percent last year, hit by fines and mis-selling compensation, and apologised again over tax-dodging claims at its Swiss division.Earnings after taxation sank to $13.7 billion (12.0 billion euros) in 2014, compared with $18.7 billion in 2013 when it was also boosted by disposals, HSBC said in a results statement.Copyright AFP (Agence France-Presse), 2015 ...
HSBC says deeply regrets Swiss bank failings, cuts RoE target LONDON: HSBC Holdings Plc apologised and said it deeply regretted past conduct and compliance failures at its Swiss private bank as it reported a 17 percent drop in annual profit on Monday.Europe's biggest bank said recent disclosures about past practices and behaviour at its Swiss private bank - where it has been accused of helping clients dodge taxes - reminded it of "how much there still is to do" at the bank.HSBC said it was ...


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Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
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Arrow Sensex 29,220.12 1.65

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln