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Bank of China shortlists 8 banks for Tier 1 offering SINGAPORE: Bank of China has shortlisted 8 banks for a planned offshore Basel III-compliant Additional Tier 1 capital offering of up to US$6.5bn, according a source involved in the deal.Bank of China International is leading the deal, which could be the world's biggest AT1 offering. The Chinese bank has recently hosted a global roadshow for the potential deal, sources said. The US$6.5bn offering of preference shares could include a US$5bn tranche and a 1bn tranche, the sources said.BOC could also issue in other currencies. However, preference shares in US dollars and euros would allow the bank to attract more demand and attain better pricing than other currencies, they said. Copyright Reuters, 2014 ...

PBOC does 10bn yuan repos, injects 11bn yuan for week SHANGHAI: China's central bank will drain 10 billion yuan ($1.63 billion) from the money markets through 14-day bond repurchase agreements on Thursday, traders said, meaning it will inject a net 11 billion yuan into the market this week.The People's Bank of China (PBOC) conducted a net injection of 14 billion yuan into the market last week.Copyright Reuters, 2014 ...
Brazil announces new $4.5bn credit stimulus SAO PAULO: Brazil's central bank said on Wednesday it would ease banks' reserve requirements for the second time in less than a month, freeing up $4.5 billion to stimulate lending and boost the sluggish economy.Under the new rules, banks will be allowed to use up to 60 percent of reserves for credit operations, an increase from the 50-percent limit announced on July 25.The bank said the move would free up an additional 10 billion reals ...
Bank of America $17bn deal could come Thursday: report NEW YORK: Bank of America is expected to pay $17 billion to settle charges it misled investors on mortgage-linked securities in a deal that could come this week, US media reported Wednesday.The agreement, the largest US settlement with a single company, could come as soon as Thursday, reported the Wall Street Journal, citing an unnamed source.The agreement is the latest to hold large banks accountable for the packaging and sale of securities linked to risky ...
World Bank arm to raise $2.5bn in India bond sale NEW DELHI: The World Bank's private sector financing arm said on Wednesday it would raise $2.5 billion in Indian rupee-denominated bonds to fund much-needed infrastructure projects across the country.The debt sale by the International Finance Corporation (IFC), the largest global development institution focused on the private sector, marks one of India's biggest-ever financing offers.The proceeds of the bond sale will be used to help finance India's ambitious infrastructure programme to overhaul its shabby roads, ports ...
Bank of England splits over rate hike for first time in 3 years LONDON: Bank of England policymakers have broken ranks over interest rates for the first time in three years, with two of them unexpectedly voting to tighten policy, in a move that revives speculation about a 2014 rate hike.Martin Weale and Ian McCafferty - external members of the BoE's nine-member Monetary Policy Committee - voted to raise interest rates to 0.75 percent from 0.5 percent, according to minutes of the MPC's Aug. 6-7 meeting released on ...
StanChart's $300 million fine raises heat on board NEW YORK/LONDON: A $300 million fine on Standard Chartered for lapses in anti-money laundering controls has piled pressure on the bank's board, coming after a series of transgressions and a drop in earnings that had already prompted calls for change at the top.Chief Executive Peter Sands has faced criticism following big losses in Korea, a slowdown in investment banking and the impact of tougher regulations. The bank warned in June that profit would fall in ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln