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Currency market furore wipes $100bn off Swiss stocks LONDON: Frantic foreign exchange trading after the Swiss National Bank scrapped its euro cap on the franc took $100 billion off the value of Switzerland's blue-chips on Thursday, putting them on track for their biggest one-day fall in at least 25 years.The Swiss blue-chip SMI index slumped more than 8.6 percent, with stocks including Swatch, luxury-goods firm Richemont and cement-maker Holcim down between 12 and 14 percent in what some traders described as "carnage".Swiss-listed shares of offshore drilling contractor Transocean slumped to an all-time low. Lenders Julius Baer and UBS were down 10 percent.The SNB's shock decision to discontinue the cap against the euro it introduced on Sept. 6, 2011 to fight recession and deflation pressures sent the Swiss franc soaring by almost 30 percent, a move that rippled through global markets and which was seen hurting Swiss firms' exporting power.Swatch Chief Executive Nick Hayek called the decision "a tsunami" ...

European shares track commodity bounce; Beiersdorf leads after sales LONDON: European shares rebounded on Thursday, boosted by a bounce in mining and oil companies, as well as by strong results at retailer H&M and Nivea cream-maker Beiersdorf.Markets were expected to remain volatile as investors reassessed global growth prospects amid a slowdown in areas such as the euro zone and China.Shares in oil & gas and basic resources companies led the bounce, rising 2 percent and 1.5 percent respectively, after Brent crude staged a late ...
Europe shares, peripheral debt trim losses after court adviser's OMT opinion LONDON: European shares trimmed losses on Wednesday, while yields on Italian, Spanish and Portuguese bonds hit the day's lows after an adviser to Europe's top court said an ECB bond-buying programme was legal under some conditions. The opinion was on the Outright Monetary Transaction programme, which the European Central Bank launched in 2012 at the height of the euro zone crisis, but never used. In a non-binding opinion for the European Court of Justice, the ...
Europe shares fall as growth fears hit energy, miners LONDON: European shares fell at the open on Wednesday, mirroring a slump in copper and oil prices after the World Bank cut its global growth forecast for this year.The FTSEurofirst 300 index of pan-European shares was down 1 percent at 1,362 points at 0802 GMT, with oil major Total and commodity firm Glencore the biggest drag on the index as they fell 2.9 percent and 6.5 percent, respectively.Copyright Reuters, 2015 ...
Oil slides but bets on ECB action lift Europe shares LONDON: Oil prices slid on Tuesday to their lowest in almost six years, but European shares rose as investors focused on expectations that policymakers would soon take action to prevent the euro zone slipping into deflation.Strength in European shares and the prospect Wall Street would open higher saw the dollar reverse earlier losses against the safe-haven yen. Weaker-than-expected British inflation data pushed sterling towards an 18-month low against the U.S. currency.Brent crude fell as low ...
Oil prices down again as UAE defends production hold LONDON: Crude oil prices hit their lowest in almost six years on Tuesday in a market readying for further falls, as a big OPEC producer stood by the group's decision not to cut output to tackle a supply glut.Oil prices have fallen 60 percent from their June 2014 peaks, driven down by rising production, particularly U.S. shale oil, and weaker-than-expected demand in Europe and Asia.Rather than cutting output to try to balance the market, producers ...
Retail sector fuels gains for Britain's FTSE 100 LONDON: Britain's top equity index rose on Tuesday, supported by Morrisons after the grocer announced the departure of its chief executive following its poor performance during the busy Christmas trading season.The blue-chip FTSE 100 index was up 0.7 percent at 6,544.49 points by 1452 GMT. However, weaker commodity stocks on the back of fresh lows for oil and copper prices limited gains.Morrisons jumped 4.2 percent after the grocer said Chief Executive Dalton Philips would go, ...

 



 
Index Closing Chg%
Arrow DJIA 17,652.60 0.79
Arrow Nasdaq 4,757.88 0.16
Arrow S&P 2,051.82 0.55
Arrow FTSE 6,832.83 0.53
Arrow DAX 10,649.58 2.05
Arrow CAC-40 4,640.69 1.93
Arrow Nikkei 17,511.75 1.05
Arrow H.Seng 24,850.45 1.34
Arrow Sensex 29,278.84 0.94






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln