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UniCredit plans German growth but not by takeovers FRANKFURT: UniCredit Chief Executive Federico Ghizzoni on Wednesday said his group's German branch HVB had plans to expand in Germany but not through acquisitions. Ghizzoni ruled out any interest in Postbank, owned by Deutsche Bank. Deutsche Bank aims to sell Postbank on the stock market as part of a group restructuring plan. "We have no plans for acquisitions but we have a clear plan to expand our business" in Germany, he said at a conference. Copyright Reuters, 2015 ...

Polish central bank keeps rates flat, in line with forecasts WARSAW: Poland's central bank on Wednesday kept its benchmark interest rate unchanged at 1.50 percent, in line with the expectations of analysts polled by Reuters. The central bank, which announced in March it was ending an easing cycle, also kept its lombard rate flat at 2.50 percent, the deposit rate at 0.50 percent and the rediscount rate at 1.75 percent. The bank's rate-setting Monetary Policy Council will hold a news conference at 1400 GMT. Copyright ...
Romania central bank's FX reserves rise to 29.3bn euros BUCHAREST: The Romanian central bank's foreign exchange reserves, excluding 103.7 tonnes of gold, rose by 189 million euros to 29.34 billion euros ($33.05 billion) at the end of August, it said on Tuesday. Inflows were 654 million euros and accounted for changes in the foreign exchange minimum reserve requirements and inflows into finance ministry and the European Commission's accounts. Outflows totalled 465 million euros. The central bank said payments to service external public and publicly ...
Bank of Portugal turns to 2nd bidder for Novo Banco after talks fail LISBON: The Bank of Portugal has ended negotiations with a potential buyer of state-rescued Novo Banco after failing to reach an agreement, saying that it will now start talks with the second-placed bidder for the bank. "As no agreement has been reached, the Bank of Portugal decided today to end those negotiations and invite the second-placed potential buyer into negotiations," the bank said in a statement on Tuesday. Sources have told Reuters that the first-placed ...
India central bank: banks must move to marginal cost for new base lending rate MUMBAI: India's central bank has asked banks to calculate their base lending rates on the basis of the marginal cost of funds instead of the current practice of average cost and to implement the new rules by April 1, 2016. The Reserve Bank of India wants banks' lending rates to be sensitive to policy rates, it said in a circular on draft base rate guidelines on Tuesday. Indian banks have been reluctant to lower their ...
Australia interest rates left at historic low SYDNEY: Australia's central bank left interest rates at the historic low of 2.0 percent on Tuesday, saying the economy was expanding moderately while inflation was contained. The Reserve Bank of Australia (RBA), which last lowered rates 25 basis points to 2.0 percent in May, added that the Australian dollar was also adjusting to lower commodity prices as a decade-long mining boom unwinds."The board today judged that leaving the cash rate unchanged was appropriate at this ...
Sri Lanka holds rates at record lows, closely monitors credit COLOMBO: Sri Lanka's central bank kept its key policy rates steady at record lows on Monday as expected, with inflation seen lower in the next few months, and said it was closely monitoring credit growth to avoid excessive expansion. The central bank left the standing deposit facility rate (SDFR) and the standing lending facility rate (SLFR) unchanged at 6.00 percent and 7.50 percent, respectively. The commercial banks' statutory reserve ratio was unchanged at 6.00 percent. ...


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Arrow DJIA 17,131.86 0.28
Arrow Nasdaq 4,838.65 0.17
Arrow S&P 2,017.46 0.13
Arrow FTSE 6,371.18 0.70
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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 $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln