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Oil sinks, Russian moves fail to quell nerves LONDON: A plunge in oil below $60 and the failure of an emergency interest rate rise to stabilise Russia's rouble sent another shock through global financial markets on Tuesday, adding to a growing sense of crisis in a volatile end to 2014.Moscow's main stock exchanges fell by 5 and 9 percent respectively and those in Europe's big developed markets fell as much as half a percent in response.Stock markets in Asia ended lower and the yen, one of investors' last refuges in times of economic stress, rose almost one percent as the rouble lost everything it gained after central bank raised rates 6 1/2 points on Monday.After a bumper few years driven by the huge quantities of extra cash pumped into the financial sector by the world's central banks, the struggle for growth in Europe and Japan and a slowdown in China has left investors deeply concerned over the shape ...

Russia rout hits European shares PARIS: European shares fell on Tuesday, extending their recent sharp slide, as a hefty Russian interest rate hike hit stocks with exposure to the country and the relentless drop in oil prices knocked energy shares.Shares in Austrian lender Raiffeisen Bank International , which relies heavily on Russia for profits, slid 5.3 percent to a record low, after Russia's central bank raised its key interest rate to 17 percent from 10.5 percent in an emergency move ...

SE Asia stocks down; extends losses on sell-off in emerging markets  JAKARTA: Southeast Asian stock markets extend losses on Tuesday after a fall in the Russian rouble triggered a sell-off in emerging markets due to global risk aversion.The slump in the rouble on the back of falling oil prices and Western sanctions has sent emerging market investors into a panic, analysts said, prompting US dollar buying which hurt local currencies and stock prices in Southeast Asia.Russia's central bank sharply hiked interest rates early on Tuesday to ...

Drop in UK inflation lifts Britain's FTSE 100 LONDON: British shares turned higher on Tuesday, buoyed by a drop in inflation to a 12-year low that further eased a squeeze on consumers and raised prospects of interest rates staying lower for longer.The blue-chip FTSE 100 index, which had fallen to two-month lows at the start of the trading session, rose following the November inflation data and traded 0.6 percent higher at 6,219.41 points going into the middle of the session."The inflation data was ...

Gulf markets tumble as oil slides below $60 DUBAI: Stock markets in the Gulf fell sharply on Tuesday after oil resumed its slide on bearish comments about OPEC and weak Chinese manufacturing data.Dubai's index closed 7.3 percent lower at 3,084 points, a one-year low. Abu Dhabi's benchmark ended 6.9 percent lower, posting its biggest daily loss in five years and hitting a one-year low of 3,892 points."We are in the panic mode now, there is no more support and investors are not rational ...

Sri Lankan stocks tad weaker in thin trade COLOMBO: Sri Lankan stocks fell for a fourth straight session on Tuesday, led by blue-chips such as John Keells Holdings as investors remained cautious ahead of the Jan. 8 presidential poll.The main stock index ended 0.09 percent, or 6.70 points, lower at 7,223.56, its lowest close since Dec. 9."There was limited activity. Political worries are hindering market activity," a stockbroker said on condition of anonymity."Investors expect political stability after the election and until such time ...

India's BSE slumps 2pc; weakening rupee challenges rate cut hopes MUMBAI: Indian shares slumped nearly 2 percent on Tuesday, marking their biggest daily fall in more than five months on worries the global turmoil will spur heavy foreign selling and force the central bank to delay expected cuts in interest rates.The Indian rupee hit a 13-month low on Tuesday after Russia's sharp increase in interest rates reinforced concerns about the global economy at a time when oil prices are sliding. A downbeat China factory survey ...


Index Closing Chg%
Arrow DJIA 17,778.15 2.43
Arrow Nasdaq 4,748.40 2.24
Arrow S&P 2,061.23 2.40
Arrow FTSE 6,466.00 2.04
Arrow DAX 9,811.06 2.79
Arrow CAC-40 4,249.49 3.35
Arrow Nikkei 17,210.05 2.32
Arrow H.Seng 22,832.21 1.09
Arrow Sensex 27,126.57 1.56

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln