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Euro dips as officials strive to head off Greek exit LONDON: The euro dipped on Wednesday, buffetted by a flurry of reports on new concessions made by Greece to its European creditors and the chances those might lead to a deal that prevents it becoming the first country to crash out of the single currency. In a feverish morning, Prime Minister Alexis Tsipras' latest proposals sent European stock markets higher but, in line with an often contradictory performance over the past month, the euro quickly handed back all of its own gains. Greece's default overnight on its International Monetary Fund loans had weakened the single currency overnight by around half a percent and it was stuck around those lows mid-morning in Europe at $1.1108. "Markets reacted (to Tsipras) and then quickly unreacted," said Richard Benson, co-head of portfolio investment at currency management firm Millennium Global. "Judging by what Ms Merkel said last night, unless they cancel the referendum, any chatter ...

Sterling drops after UK manufacturing PMI survey misses forecasts LONDON: Sterling fell against the dollar and the euro on Wednesday, after data showed British manufacturing growth unexpectedly slowed to its weakest rate in more than two years in June. The Markit/CIPS manufacturing purchasing managers' index (PMI) fell to 51.4, below a Reuters poll that had predicted a slight improvement to 52.5 though still above the 50 mark that separates growth from contraction. Sterling dropped to $1.5640, down 0.5 percent on the day, from around ...

Euro holds steady after Greece defaults TOKYO: The euro held steady in Asia on Wednesday as traders shrugged off the widely expected default by Greece, with focus now turning to the weekend's referendum, which could determine the country's eurozone future.The single currency bought $1.1136 and 136.44 yen in Tokyo trade compared with $1.1139 and 136.38 yen in New York late Tuesday.The dollar was at 122.48 yen against 122.44 yen. Athens missed Tuesday's deadline to repay the International Monetary Fund, making it ...

Sterling hits highest in more than seven years on safe-haven appeal LONDON: Sterling hit a 7 1/2-year high against the euro on Monday as investors veered towards currencies perceived to be a safe haven after Greece imposed capital controls.The pound fell from those highs in afternoon trade but was still firmer on the day, with traders citing intervention by the Swiss National Bank as one reason the euro was recovering. And while there was little panic across markets, most traders said any bounce in the euro ...

Euro down but showing few signs of panic over Greece LONDON: The euro proved broadly resilient on Monday to Greece's moving one step closer to an exit from the single currency, helped by intervention by the Swiss National Bank and investors concluding that the situation in Athens still has some way to run. Greece looks virtually certain to miss a debt repayment to the IMF on Tuesday as the country's European partners shut the door on extending a credit lifeline after Athens announced a referendum ...

South Africa's rand, bonds weaken sharply in Greece-related sell-off JOHANNESBURG: South Africa's rand fell more than 1 percent against the dollar on Monday as the looming prospect of a default by debt-ridden Greece sent investors scurrying from risky assets.The rand briefly plumbed a session low of 12.4100 per dollar before coming back to 12.2850 by 0642 GMT, down 0.66 percent from Friday's close in New York. Government bonds also fell sharply, with the yield for paper maturing in 2026 hitting a two-week high of ...

Sri Lankan spot rupee steady; forwards weaker on dollar short supply COLOMBO: The Sri Lankan rupee was steady in dull trade on Monday as a state-run bank, through which the central bank usually directs the market, sold dollars at 133.70, but the supply of greenbacks did not meet demand by importers, dealers said."The spot is steady as the state bank is selling at 133.70, but the demand (for dollars) is seen as the supply is low," said a currency dealer asking not to be named."With the ...


Index Closing Chg%
Arrow DJIA 17,757.91 0.79
Arrow Nasdaq 5,013.13 0.53
Arrow S&P 2,077.42 0.69
Arrow FTSE 6,608.59 1.34
Arrow DAX 11,180.50 2.15
Arrow CAC-40 4,883.19 1.94
Arrow Nikkei 20,329.32 0.46
Arrow H.Seng 26,250.03 1.09
Arrow Sensex 28,020.87 0.86

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln