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Nigeria's debts hit $63.5 billion: government LAGOS: Nigeria's total debts stood at 12.06 trillion naira ($63.5 billion) at the end of March this year, up from 11.2 trillion naira in December 2014, the Debt Management Office (DMO) said on Wednesday.Nigeria, Africa's top economy and largest oil producer, has been hammered by the 50 percent fall in global oil prices as crude sales account for more than 70 percent of government revenue. Squeezed government revenues forced this year's budget to be revised and federal projects scrapped or halted while state employees have gone months without being paid.The national currency, the naira, has also come under intense pressure, losing substantial ground to the dollar on both the official and black market.The figure announced by the DMO confirms claims by Vice President Yemi Osinbajo that the country's debt stood at some $60 billion at the end of Goodluck Jonathan's term, after he lost to President Muhammadu Buhari in March ...

Mauritius cuts 2015 growth forecast on core industry slump PORT LOUIS: Mauritius has lowered its growth forecast for 2015 to 3.8 percent from its previous estimate of 4.1 percent due to a slump in the agricultural, manufacturing and construction sectors, Statistics Mauritius said on Tuesday. A decline in fishing has hit agricultural output, a weaker performance from the textile sector has affected manufacturing figures and construction has suffered due to slower public infrastructure expansion, the statistics agency said. The agricultural sector is expected to ...

Nigeria plans to sell 180-240bn of naira bonds in Q3 LAGOS: Nigeria plans to issue 180 billion to 240 billion naira of five and 20-year bonds in the third quarter, the Debt Management Office (DMO) said on Monday. The DMO raised 210.22 billion naira ($1.1 billion) through government bond sales in the second quarter. The debt management office plans to sell the 15.54 percent 2020 bond at auctions in July, August and September with 35-45 billion naira on offer each month. It said it would ...

Mauritius' 182-day Treasury bills yield rises to 1.76pc PORT LOUIS: The weighted average yield on Mauritius' 182-day Treasury bill rose to 1.76 percent at an auction on Friday from 1.72 percent at the previous sale on June 5, the central bank said. The Bank of Mauritius said it had sold all the 1 billion rupees ($29 million) worth of securities it had offered. It said it had received bids worth 2.11 billion rupees at yields ranging from 1.75 percent to 2.60 percent. Copyright ...

Two-year gilt yields hit seven-month peak as market eyes BoE outlook LONDON: Short-dated gilt yields rose to their highest level since November on Thursday, adjusting further to recent comments from Bank of England policymakers who suggested they could soon vote to hike interest rates.The two-year British government bond yield peaked at 0.699 percent, its highest level since Nov. 7, and was last 3 basis points up on the day at 0.685 percent.The five-year yield, while rising less strongly than the two-year gilt yield, touched a new ...

Euro zone bond markets turn cautious on Greek deal prospects LONDON: Italian, Spanish and Portuguese borrowing costs rose on Wednesday as doubts over a deal to save Greece from default and keep it in the euro zone re-emerged. Yields on top-rated German Bunds fell as investors sought refuge in safe-haven assets. A Greek government official said Prime Minister Alexis Tsipras told associates that creditors had rejected proposals presented by Athens to bridge a budget gap. Tsipras made the comments before heading to Brussels to meet ...

JGBs dip as Nikkei gains, Greece debt talks awaited TOKYO: Japanese government bond prices dipped Monday in response to a rise in Tokyo's Nikkei, but caution ahead of talks between cash-strapped Greece and its creditors later in the day limited market activity.Athens hopes to clinch a deal and unlock aid before it faces a month-end debt repayment deadline, with Greek Prime Minister Alexis Tsipras making a new offer on Sunday to foreign creditors.Still, uncertainty clouded the horizon ahead of Monday's emergency meetings, which includes ...


Index Closing Chg%
Arrow DJIA 17,050.75 0.82
Arrow Nasdaq 4,810.79 0.41
Arrow S&P 2,013.43 0.88
Arrow FTSE 6,374.82 0.61
Arrow DAX 9,993.07 0.23
Arrow CAC-40 4,675.91 0.18
Arrow Nikkei 18,141.17 0.99
Arrow H.Seng 22,354.91 0.71
Arrow Sensex 26,845.81 0.70

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln