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Euro falls as Greece rejects bailout talks with troika NEW YORK: The euro retreated against other major currencies Friday as struggling Greece refused to meet with its international creditors and rejected fresh loans, and the eurozone showed weaker inflation.The finance minister of Greece's new anti-austerity government, Yanis Varoufakis, said that despite warnings Greece would shortly run out of money, his government preferred to do without the instant fresh cash, and instead renegotiate the entire bailout package."This government was elected on the basis of analytically questioning the very logic of the program now being applied," he said, referring to the reforms and budget cuts demanded by Athens's international troika of creditors -- the European Union, the European Central Bank and the International Monetary Fund.Copyright AFP (Agence France-Presse), 2015

Dollar set to end month with record run; GDP data weighs on stocks NEW YORK: The dollar index edged higher on Friday and was on track to end January with gains of more than 5 percent, while stock indexes around the world fell as data showed US growth slowed sharply in the fourth quarter. European stocks ended lower, but registered their biggest monthly gain in three years, while major US stock indexes were on track for a second straight monthly decline. The dollar index, bolstered by expectations the ...

Turkish currency hits new record low against dollar ISTANBUL: The Turkish lira sank to a fresh record low against the dollar on Friday, as it remained under pressure due to expectations that the central bank may cut interest rates as early as next week. In afternoon trading on Friday, the lira fell to as low as 2.43 to the dollar after hitting a record low of 2.41 late on Thursday. Against the euro, the currency lost 0.8 percent in value to trade at ...

Norway central bank to sell NOK 700mn of FX per day in Feb OSLO: Norway's central bank will sell foreign exchange equivalent of 700 million crowns ($89.7 million) per day in February after selling 500 million crowns worth of currency per day in January, it said in a statement on Friday.The bank is selling the currency because the government's transfers to its $850 billion sovereign wealth fund have been smaller than earlier expected and the budget is spending more of its oil related income.The bank puts foreign currency ...

China money rates rise on seasonal cash pressure, stock exchange SHANGHAI: China's money markets rose on Friday, with the major benchmark money rate gaining over 24 basis points on cash demand for month-end tax payments and the looming lunar new year holiday that will close markets for a week.The seven-day bond repurchase agreement closed out the week averaging over 4.16 percent up from 3.92 percent the previous Friday, the first time it has done so since December. Other commonly traded tenors also rose.Liquidity conditions remain ...

Yuan eases, stays near daily limit as analysts call for wider band SHANGHAI: China's yuan weakened slightly on Friday, trading within a hair's breadth of lower limit of the official daily trading band, as central bank has limited the yuan's decline against a dollar that has gained sharply against other major currencies.The People's Bank of China set the midpoint rate at 6.137 per dollar prior to market open, weaker than the previous fix 6.1335, putting it on course to end the week down over 0.3 percent.The spot ...

Commodity currencies feel heat; dollar, yen, euro stable SYDNEY/TOKYO: Commodity currencies nursed hefty losses on Friday, as investors sent the Australian dollar to 5 1/2 year lows as they bet on the Australian central bank reducing interest rates when it meets next week.While currencies from energy and resource producing countries, such as Canada and Australia, struggled under the weight of falling energy prices, the dollar, yen and euro were locked in familiar ranges.The Aussie dollar barely made any recovery on Friday, after dropping ...


Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln