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Wall Street gets joke about fixed-income trading NEW YORK: Wall Street may finally be getting the joke about trading. Citigroup, JPMorgan and other banks estimate that second-quarter revenue in fixed-income, currency and commodities will drop again by perhaps a fifth. Shareholders reckon it's a long-term slump.Brokerage executives may publicly claim otherwise, but a recent move by Credit Suisse acknowledges that the business is fading. The Swiss bank has set up Wake Securities, a joint venture with high-frequency trading firm Tower Research, to outsource some transactions in US Treasuries and interest-rate swaps.Tower's systems provide the market-making; Credit Suisse keeps its client relationships. The bank is now considering selling a stake in the venture, according to the Financial Times, which may help cut costs and reduce its need for capital.The latter is especially important after the bank paid a $2.8 billion fine last month to settle US charges of aiding tax evasion.Credit Suisse and its rivals have been refashioning ...

UAE markets slide in volatile trade; Arabtec tumbles again DUBAI: Stock markets in the United Arab Emirates extended losses on Tuesday, led by Dubai builder Arabtec which dominated trading volume, while Egypt pulled back slightly after leaping in the previous two sessions.Shares in Arabtec dropped their daily limit of 10.0 percent to 4.88 dirhams, dragging down Dubai's benchmark, which closed 1.6 percent lower after diving as much as 3.6 percent during the session.Arabtec had more than tripled in value this year after winning a ...

TSX steady as gold miners jump, banks slip TORONTO: Canada's main stock index was little changed on Tuesday as strength in gold mining shares, following a gain in the price of bullion, was offset by a decline in the financial sector.The Toronto market, which is up more than 9 percent this year, hit its highest level in nearly six years in the previous session.But investors appeared reluctant to acquire new positions in the absence of major economic or earnings news."I'm just being a ...

Treasury yields up, euro off as US rates seen rising NEW YORK: A worldwide measure of stocks dipped on Tuesday but was within reach of its record high, while U.S. Treasury yields touched one month highs and the euro slipped as a whiff of higher U.S. interest rates takes hold in markets.Stocks on Wall Street opened slightly lower a day after the S&P 500 closed at a record for a fourth straight session and world shares drifted near their record set in November 2007."Most valuation ...

South African stocks hit records but platinum shares hit JOHANNESBURG: South African stocks scaled to record highs on Tuesday for a second straight session but shares of platinum mining firms fell after talks to end a five-month wage strike in the sector deadlocked.Lomin was the biggest decliner among the top-three platinum producers affected by the walk out, falling 2.17 percent to 43.78 rand. Anglo American Platinum lost 1 percent to 467.74 rand."The platinum stocks are still struggling because of the impasse and continued uncertainty ...

Wall St dips, stays near record peaks; incentives scant NEW YORK: US stocks fell modestly on Tuesday as investors found few reasons to keep buying with the Dow and S&P 500 coming off a string of record highs.The day's losses were slight but broad, with eight of the ten primary S&P 500 sectors down on the day. The biggest declining group, industrials, was down a slight 0.4 percent, and some sectors were down 0.1 percent."Momentum" stocks, marked by hyper levels of growth and concerns ...

Wall St edges up, lifted by mergers, acquisitions NEW YORK: U.S. stocks advanced on Monday, boosted by a number of major acquisition deals, though gains were slight with key indexes continuing to hover around records.If the S&P 500 ends higher on Monday, that will mark its 11th rise of the past 13 sessions, and its seventh record close of the past eight trading days. While Wall Street's upward trend looks intact, traders may need new catalysts to bid the market up further lest ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,142.89 0.07
Arrow Nikkei 20,264.41 0.30
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,957.50 0.53

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln