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Swiss franc hits 2-year low as SNB cuts rates to negative LONDON: The Swiss franc hit its lowest against the dollar in more than two years, and touched a two-month trough against the euro, on Thursday after the Swiss National Bank said it would introduce negative interest rates.In a brief statement, the SNB said it would impose an interest rate of -0.25 percent on sight deposit account balances of over 10 million Swiss francs as it seeks to discourage safe-haven buying of francs.Global markets have been rocked recently by the unfolding financial crisis in Russia and the continued slide in oil prices, fueling demand for safety.The Swiss franc weakened to as much as 1.2098 francs per euro on trading platform EBS, pulling away from the SNB's three-year old cap of 1.20 francs per euro.Against the dollar, the franc fell to 0.9848 francs, a level not seen since August 2012.Geoffrey Yu, a currency strategist at UBS in London, said the SNB's move ...


Ringgit sentiment worst since 2008; bearish rupiah bets rise SINGAPORE: Bearish bets on the Malaysian ringgit rose slightly and remained at their highest since the 2008-09 global financial crisis, while short positions in the Indonesian rupiah hit a two-month high, a Reuters poll found on Thursday.A recent slide in oil prices and the Russian rouble have soured investor sentiment toward emerging market currencies in general and weighed on Asian currencies, although sentiment improved somewhat after the rouble strengthened sharply on Wednesday.Investor bets on the ...

Russian rouble weakens as traders see no major measures in Putin speech MOSCOW: The rouble weakened against the dollar and euro on Thursday with traders saying President Vladimir Putin had so far offered no concrete measures to pull Russia out of a crisis at his end-of-year news conference.At 0954 GMT, the rouble was around 3 percent weaker against the dollar at 62.04 after opening more than 1 percent higher. The rouble was also around 2 percent weaker versus the euro at 76.50 on the Moscow Exchange.Traders said ...

Rupiah and ringgit climb as Fed calms market nerves SINGAPORE: The Indonesian rupiah, Malaysian ringgit and Indian rupee all rose on Thursday as an upbeat economic assessment by the US Federal Reserve calmed market nerves.The South Korean won, however, fell against the dollar after the Fed signalled it was on track to raise interest rates next year, altering a pledge to keep them near zero for a "considerable time" in a show of confidence in the US economy.The rupiah outperformed and pulled away from ...

UK retail sales helps sterling bounce back after Fed hit LONDON: Sterling rose against the dollar and the euro on Thursday, helped by much better than expected retail sales numbers for November, a boost for an economy that had appeared to be cooling off.The pound had shot lower against the dollar overnight along with a raft of other currencies in reaction to a statement on policy by the Federal Reserve, which was read as leaving it firmly on course to raise U.S. interest rates next ...

Egyptian pound steady on official market, weaker on black market CAIRO: The Egyptian pound was unchanged at a central bank dollar sale on Thursday and weaker on the unofficial market after the government established a fourth weekly dollar auction.The bank offered $40 million and said it had sold $38.2 million at a cut-off price of 7.1401 pounds to the dollar, a rate unchanged from its sales on Wednesday and Monday.The rates at which banks are allowed to trade dollars are determined by the results of ...

Kenyan shilling steady, seen gaining slightly NAIROBI: The Kenyan shilling held steady on Thursday, with traders expecting the trend to continue amid less dollar demand as companies close their books for the holiday season.At 0730 GMT, commercial banks quoted the shilling at 90.35/45 to the dollar, equal to Wednesday's close."As companies close out for the festive season, we shall see less dollar demand. So we expect the shilling to be supported by that a bit," said a trader at a major ...


 



 
Index Closing Chg%
Arrow DJIA 17,356.87 1.69
Arrow Nasdaq 4,644.31 2.12
Arrow S&P 2,012.89 2.04
Arrow FTSE 6,336.48 0.07
Arrow DAX 9,544.43 0.20
Arrow CAC-40 4,111.91 0.46
Arrow Nikkei 16,819.73 0.38
Arrow H.Seng 22,585.84 0.37
Arrow Sensex 26,710.13 0.27






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln