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Turkish bonds, lira little changed after energy price hikes  ISTANBUL: Turkish bond prices and the lira were close to flat on Monday, showing little reaction to hikes in natural gas and electricity prices that, while steep, were less harsh than expected. Shares dipped 0.3 percent, slightly underperforming the emerging markets index. State energy company Botas said on Sunday that natural gas prices for consumers would rise by 9.8 percent in response to increasing global energy costs. Officials of energy market watchdog EPDK said on Monday - ahead of the release of inflation data for Istanbul - that electricity prices would rise for industry by 4.03 percent and for households by 9.81 percent. The yield on Turkey's two-year benchmark bond edged up to 7.60 percent in early over-the-counter trade, from 7.56 percent late on Friday. "The (energy) price hikes pushed short-term bond yields up. However, the timing looks good as the government is expected to announce its medium-term plan this month. They will probably set ...

Bund futures slip after Spanish bank tests  LONDON: German Bund futures inched lower at the open on Monday, extending falls from late Friday trade after results of an external audit of the capital needs of Spain's ailing banks came in line with market expectations.   The independent audit of Spanish banks showed a 59.3 billion euro capital shortfall in the event of a serious economic downturn.   Markets were expecting a 60 billion euro shortfall and the result was welcomed by the European Central Bank - ...
Italy sells 1.05 bln euros bonds, notes at extra auction  MILAN: Specialist banks in Italian government debt bought the whole amount offered in bonds and notes at a supplementary auction on Friday, showing demand is still strong after the regular sale on Thursday. Rome sold 450 million euros ($578.77 million) both of the five-year bond and the 10-year paper. It also placed 150 million euros of a five-year floating-rate CCTeu note, bringing the total sold on Friday to 1.05 billion euros. Earlier this week specialist banks bought ...
Emerging bond issuance set to top $300bn in 2012  LONDON: Investor appetite for yield has fuelled record bond issuance by emerging market borrowers, and the 2012 total is set to top $300 billion helped by some players pre-financing next year's needs. Bond markets are benefiting from two major initiatives announced over the summer to boost economic growth in Europe and the United States. Firstly, the European Central Bank said it will "do what it takes" to save the euro zone and then the US Federal Reserve ...
Euro zone ESM bailout fund to charge symbolic margin for help  BERLIN: The euro zone's permanent bailout fund will charge only a symbolic fee on top of its costs for loans to troubled sovereigns and only slightly more for loans to recapitalise banks, ESM pricing policy guidelines showed. The guidelines, obtained by Reuters on Thursday, said that while the price of help from the European Stability Mechanism (ESM) would be the same for every euro zone government, it would differ depending on the instrument chosen, because of ...
Italy MILAN: Italy raised 5.645 billion euros ($7.258 billion) in a five- and ten-year bond auction on Thursday, slightly less than targeted but at lower rates, despite fresh debt-crisis nervousness. The Italian Treasury issued 2.718 billion euros in bonds set to mature within five years at a rate of 4.09, compared to 4.63 percent at the last similar operation, and 2.927 billion euros of 10-year bonds at a rate of 5.24 percent, down from 5.82 percent. Copyright AFP ...
Gilts follow Bunds lower, eye UK GDP  LONDON: Gilt futures fell in step with Bunds on Thursday, after closing at a three-week high the previous session, as traders awaited the final reading of Britain's second-quarter gross domestic product. The release, due at 0830 GMT, was expected to confirm a 0.5 percent quarterly decline in GDP, though some economists were betting on an upward revision. Nonetheless, Lloyds strategists said an upward revision was likely to be trumped by safe-haven flows into gilts. "All else equal, gilts ...


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

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