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European bank stocks outpace market before stress tests LONDON: European shares pared early losses on Friday as investors bet the fallout for the banking sector from stress test results due on Sunday should be contained, and took a more measured view of New York's first case of Ebola. The banking index rose 0.3 percent, boosted by hopes that the weekend update on the sector's financial health from the European Central Bank should not reveal too many problems. Banca Monte dei Paschi di Siena shares surged 8 percent as traders said the bailed-out Italian lender could pass the health checks relatively unscathed. The FTSEurofirst 300 index of top European shares fell 0.2 percent to 1,316.44 points by the middle of the trading session. It earlier declined as much as 0.6 percent on news a New York City doctor who treated Ebola patients in West Africa had become the first person to test positive for the virus in the US ...

New UK bank TSB gains customers in challenge to big banks LONDON: New British bank TSB said it was picking up nearly one in ten of all new current accounts being opened in the UK, swelling its deposit base as competition intensifies for the country's biggest lenders.As a result, the bank hived off from Lloyds Banking Group to challenge dominant lenders said it was ahead of a target to grow its share of Britons' personal current accounts to 6 percent in the next five years.Lloyds was ...
Russia's Sberbank takes EU to court over sanctions MOSCOW: Russia's biggest lender Sberbank said Friday that it has taken the EU to court over sanctions imposed on it as part of measures aimed at some of Moscow's biggest companies over the Ukraine crisis.State-controlled Sberbank said in a statement that it had lodged a suit at the European Union's Court of Justice in Luxemburg on Thursday to overturn the EU's decision to adopt "restrictive measures against the bank".The 28-nation bloc in July hit Sberbank ...
China and 20 other countries sign up to regional bank BEIJING: China and 20 other countries moved forward on Friday towards setting up an Asian infrastructure lender seen as a counterweight to Western-backed international development banks.The signatories put their names to a memorandum of understanding to establish the Asian Infrastructure Investment Bank (AIIB) at a ceremony in the Great Hall of the People in Beijing.The institution, whose development has been driven by China, will be based in Beijing according to the official news agency Xinhua, ...
Italian bank official says stress test reaction may be volatile FOLIGNO: Market reaction to bank stress tests due to be announced by the European Central Bank on Sunday could be volatile because of the difficulty of interpreting the results, a senior official of Italian banking association ABI said on Friday.ABI director general Giovanni Sabatini said any potential capital shortfalls at the end of 2013 would have to be seen along with almost 11 billion euros of capital increases undertaken in 2014 as well as additional ...
ECB to unveil results of eurozone bank health check FRANKFURT: The European Central Bank on Sunday releases the results of an unprecedented health check of eurozone banks before assuming the role of the region's banking supervisor next month.The ECB takes on its new watchdog role on November 4 and it hopes that a "comprehensive assessment" -- made up of a so-called asset quality review (AQR) and a "stress test" -- will uncover any potentially nasty surprises beforehand.After all, previous banking stress tests in Europe, ...
South Korea economy grows 0.9pc in Q3: central bank SEOUL: South Korea's economic growth picked up in the third quarter on revived consumer spending and a government stimulus package, the Bank of Korea said Friday.Gross domestic product rose a seasonally adjusted 0.9 percent from the April June-period, which had recorded growth of 0.5 percent from the first quarter.The central bank data showed a rebound in consumer spending, which had stalled in the second quarter as the entire country was plunged into mourning over the ...

 



 
Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
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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
WeeklyOctober 23, 2014
Reserves $13.465 bln