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China sovereign wealth fund expands by $93 billion BEIJING: Sovereign wealth fund China Investment Corp (CIC) saw its total assets soar by $93 billion to nearly $750 billion last year, it said Friday, although subdued global growth slowed returns on its overseas portfolio.CIC was created in 2007 with $200 billion to make better use of China's colossal foreign exchange reserves, which amounted to $3.73 trillion this March.Its total assets expanded to $746.73 billion by the end of 2014, an increase of $93.5 billion, CIC said in its annual report.But returns on the overseas portfolio dropped to 5.47 percent, down from 9.33 percent in 2013 and the weakest since 2011, according to the document."During 2014, the global economy recovered at a slower speed than expected," Ding Xuedong, chairman and chief executive officer of CIC, said in the report. "CIC... remained focused on identifying the investment opportunities that China's economic success, economic structural upgrading, and global outreach present," he added.The ...

US bond prices rise as jobs data disappoint NEW YORK: US Treasuries prices rose on Thursday as data showed a setback in labor market improvement in June, raising doubts whether the Federal Reserve would end its near-zero interest rate policy later this year.The US Labor Department said US employers added 223,000 workers last month, less than the 230,000 increase projected by economists polled by Reuters. It downgraded its readings of April and May job increases, resulting in 60,000 fewer jobs created than previously ...
India's end-March external debt $475.8bn: RBI MUMBAI: India's external debt stood at $475.8 billion as of end-March, up 6.6 percent from a year earlier, the Reserve Bank of India said in a release on Tuesday. India's external debt-to-gross domestic ratio (GDP) stood at 23.8 percent as of end-March, compared with 23.6 percent year ago. "Excluding the valuation gains due to appreciation of US dollar against the Indian rupee and other major currencies, the increase in external debt by end-March 2015 over ...
US yields hit session highs on stock futures gains NEW YORK: Longer-dated US Treasuries yields rose to session highs in early US trading on Tuesday as US stock index futures rose on hopes of a last-minute debt deal for Greece, with the cash-strapped nation poised to miss a debt repayment to the International Monetary Fund.Benchmark 10-year Treasuries yields were last 2.362 percent, up 3 basis points from late on Monday, while the 30-year yield was up 3 basis points to 3.124 percent.Copyright Reuters, 2015 ...
Bond prices slip on renewed optimism for Greece debt deal NEW YORK: US Treasuries prices slipped on Thursday on renewed optimism that Greece would avert a debt default after the country's international creditors presented a final cash-for-reform proposal to euro zone finance ministers.Euro zone finance ministers will work on a financing-for-reforms deal with Greece on the basis of a proposal from the creditor institutions as negotiations with Athens have produced no agreement, officials said."The main thing is Greece, and the market is still going to ...
ECB to review Greek bank funding again on Monday FRANKFURT: The European Central Bank will review its limits on emergency funding (ELA) for Greek banks again on Monday when euro zone finance ministers and euro zone leaders meet in Brussels for last-ditch talks a loans for reforms deal with Athens, officials said on Friday. The ECB's Emergency Liquidity Assistance to Greek banks is the only thing that keeps the Greek banking sector alive amid huge daily outflows of deposits. Savers pull out cash fearing ...
Yields fall after Fed cuts growth, fed funds rate forecasts  NEW YORK: US Treasury yields fell on Wednesday after the Federal Reserve reduced its growth and federal funds rate forecasts, but said growth this year is still likely strong enough to support an interest rate increase later in the year.After contracting in the first quarter, the economy is now on track to grow between 1.8 percent and 2.0 percent in 2015, according to the central bank's latest policy statement and new projections issued by Fed ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln