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FTSE steadies near 2-month high; Aviva, Petrofac fall LONDON: Britain's top share index steadied near a two-month high on Monday, with Aviva sliding after outlining a deal to buy Friends Life and Petrofac slumping after predicting a low net profit.Aviva fell 3.9 percent after saying on Friday it had agreed terms on a possible deal to buy rival Friends Life for 5.6 billion pounds ($8.8 billion), as British pension reforms put pressure on insurers to find new business. Friends Life rose 7.3 percent."The news from Friday evening has placed the UK life assurance sector on the centre stage. Cost savings are likely to prove a major factor for shareholders," said Keith Bowman, equity analyst at Hargreaves Lansdown.The deal should produce cost and revenue synergies of 1.7 billion pounds, more than offsetting the offer premium of 700 million pounds, Bernstein analysts said in a client note. They said it was "a good deal for shareholders of both Friends Life ...


Hong Kong, Shanghai stocks jump on China rate cut HONG KONG: Hong Kong stocks rallied 1.95 percent Monday and Shanghai also jumped after China's central bank announced a surprise interest rate cut in an attempt to strengthen growth.The Hang Seng Index added 456.02 points to 23,893.14 on turnover of HK$105.25 billion ($13.58 billion).The People's Bank of China Friday slashed its one-year rate for deposits by 25 basis points to 2.75 percent, and its one-year lending rate by 40 basis points to 5.6 percent.Friday's announcement ...

Hong Kong, Shanghai stocks jump on China rate cut HONG KONG: Hong Kong stocks rallied 1.95 percent Monday after China's central bank announced a surprise interest rate cut at the end of last week in a bid to strengthen growth.The Hang Seng Index added 456.02 points to 23,893.14 on turnover of HK$105.25 billion ($13.58 billion).The benchmark Shanghai Composite Index jumped 1.85 percent, or 46.09 points, to 2,532.88 on turnover of 330.3 billion yuan ($53.9 billion). The close was the highest since September 1, 2011.The ...

Asian stocks climb after China rate cut HONG KONG: Asian markets rallied Monday after China's surprise move last week to cut interest rates for the first time in more than two years as its leaders try to strengthen growth.The euro struggled following a sell-off Friday in response to comments from the head of the European Central Bank hinting at further stimulus measures to fight off deflation.Shanghai rose 1.85 percent, or 46.09 points, to end at 2,532.88 while Hong Kong closed up 1.95 ...

Asian stocks climb after China rate cut HONG KONG: Asian markets rallied Monday after China's surprise move last week to cut interest rates for the first time in more than two years as its leaders try to strengthen growth.The euro struggled following a sell-off Friday in response to comments from the head of the European Central Bank hinting at further stimulus measures to fight off deflation.Shanghai rose 1.85 percent, or 46.09 points, to end at 2,532.88 while in late trade Hong Kong ...

South Korean shares hit 7-week high on China rate cut; won nearly flat SEOUL: South Korean shares climbed to a seven-week high on Monday as risk appetite was sharpened by China's surprise decision to cut interest rates for the first time in more than two years.The Korea Composite Stock Price Index (KOSPI) rose 0.7 percent to close at 1,978.54 points.The South Korean won was nearly flat on Monday, surrendering early gains to track the weakness of the Japanese yen during the afternoon session.The South Korean currency was quoted ...

China stocks rise after surprise rate cut, yuan drops HONG KONG/SHANGHAI: Chinese stocks rose, with a key index hitting a three-year high, while bond yields fell on Monday, as markets cheered a surprise rate cut that investors hope may signal the start of a fresh cycle of aggressive policies to boost flagging growth.The People's Bank of China cut one-year benchmark lending rates by 40 basis points to 5.6 percent late of Friday, taking by surprise market participants who had predicted more covert policy easing ...


 



 
IndexClosingChg%
ArrowDJIA 17,810.06 0.51
ArrowNasdaq 4,712.97 0.24
ArrowS&P 2,063.50 0.52
ArrowFTSE 6,750.76 1.08
ArrowDAX 9,732.55 2.62
ArrowCAC-40 4,347.23 2.67
ArrowNikkei 17,357.51 0.33
ArrowH.Seng 23,437.12 0.37
ArrowSensex 28,334.63 0.95






Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln