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US stock rally snaps 6-day skid; Dow up 3.95pc NEW YORK: US stocks surged Wednesday, snapping a six-day losing streak prompted by a big pullback in Chinese equities that has roiled global markets.The Dow Jones Industrial Average jumped 619.07 points (3.95 percent) to 16,285.51. The broad-based S&P 500 gained 72.90 (3.90 percent) at 1,940.51, while the tech-rich Nasdaq Composite Index bolted up 191.05 (4.24 percent) to 4,697.54.All 30 members of the Dow rose, led by Merck with 6.4 percent. Several other companies rose more than five percent, including Apple, JPMorgan Chase, Microsoft, Nike, Visa and ExxonMobil.US stocks opened sharply higher for the second straight day. However, unlike Tuesday, when a late-afternoon slump pushed the market into the red, US stocks picked up momentum in the afternoon and closed near session highs."The market has found its legs," said Chris Low, chief economist at FTN Financial. "I couldn't tell you that the low is in place, but I am very comfortable ...


US stocks surge in opening trade NEW YORK: Wall Street equities jumped in opening trade Wednesday as investors tried to snap a six-day losing streak prompted by turmoil in the Chinese stock market.About 20 minutes into trade, the Dow Jones Industrial Average stood at 15,985.73, up 319.29 points (2.04 percent).The broad-based S&P 500 rose 39.09 (2.09 percent) to 1,906.70, while the tech-rich Nasdaq Composite Index gained 105.82 (2.35 percent) at 4,612.30.The buoyant start in the US recalled Tuesday's confident open, which ...

Britain's FTSE recovers some of its China losses LONDON: Britain's top share index fell on Wednesday but recovered some of its losses by midday, as worries over China's economy continued to weigh on equities around the world. Data showing an unexpected pick-up in UK retail sales and an increase in mortgage approvals offered encouraging signals on the domestic economy, however. The FTSE 100 index was down 0.9 percent by 1057 GMT, recovering from earlier steeper losses. European equities were broadly in line after ...

European stocks shed more than one percent at open LONDON: Europe's stock markets fell by more than one percent at the open on Wednesday despite gains in Asia, as investor enthusiasm waned over China's interest rate cut.In initial trade, London's benchmark FTSE 100 index lost 1.30 percent to 6,002.28 points, Frankfurt's DAX 30 tumbled 1.69 percent to 9,956.85 and the CAC 40 in Paris sank 1.44 percent to 4,499.23 points.European markets had rebounded Tuesday after China cut interest rates in an attempt to boost ...

Tokyo shares end 3.2pc higher after China rate cut TOKYO: Tokyo shares ended 3.2 percent higher Wednesday, rebounding sharply from six days of losses after China cut interest rates in a bid to shore up confidence in the world's number two economy.The benchmark Nikkei 225 index at the Tokyo Stock Exchange jumped 570.13 points to 18,376.83.The Topix index of all first section shares rose 3.23 percent, or 46.32 points, to 1,478.97.China's central bank reduced interest rates and slashed the amount of money banks need ...

Asian shares rise in nervous trade after China rate cut HONG KONG: Asian stocks rose on Wednesday after an interest rate cut in China helped to restore confidence in the world's number two economy, although dealers warned markets remained on edge after this week's global selloff.The dollar edged up in Tokyo, extending a rebound from this week's heavy losses as China's move to cut rates and free up cash for banks to lend spurred optimism.Tokyo surged 3.20 percent, or 570.13 points, to close at 18,376.83, ...

China's yuan weakens after c.bank cuts interest rates, reserve levels SHANGHAI: China's yuan fell against the dollar on Wednesday after the central bank cut the one-year benchmark bank lending rate by 25 basis points and reserve requirements by 50 basis points for most big banks.After the aggressive monetary easing, the central bank seemed to intervene little to prop up the yuan on Wednesday, permitting the currency to depreciate slightly, traders said."The central bank set its midpoint weaker than 6.4 following the offshore market reaction to ...


 



 
Index Closing Chg%
Arrow DJIA 16,351.38 1.82
Arrow Nasdaq 4,749.98 2.46
Arrow S&P 1,948.86 1.83
Arrow FTSE 6,083.31 0.41
Arrow DAX 10,048.05 0.32
Arrow CAC-40 4,554.92 0.30
Arrow Nikkei 18,095.40 0.39
Arrow H.Seng 20,934.94 1.18
Arrow Sensex 25,453.56 0.95





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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln