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Australian, NZ dollars capped by Chinese market turmoil SYDNEY/WELLINGTON: The Australian and New Zealand dollars were held hostage on Wednesday to developments in China in another choppy trading session, with sentiment remaining brittle amid concerns over the Asian giant's economy.The Australian dollar was down 0.1 percent at $0.7132, having swung between positive and negative territory. It received a modest boost after data showing domestic construction work rose 1.6 percent in the second quarter, handily beating forecasts of a 1.5 percent fall."The positive is that the construction sector, which accounts for around 15 percent of the economy, will add to growth in the June quarter," said Andrew Hanlan, a senior economist at Westpac.Australia's second-quarter gross domestic product data is due next week. However, the focus quickly returned to the Chinese share markets' reaction to the latest stimulus. The People's Bank of China cut interest rates and lowered the amount of reserves banks must hold for the second time in ...

Dollar ticks up after China moves to calm market turmoil TOKYO: The dollar ticked up against the yen on Wednesday as Chinese authorities moved to shore up the world's number two economy and reverse a global stock market bloodbath. In Tokyo, the dollar changed hands at 119.36 yen, up from 118.84 yen in New York late Tuesday. Fears over slowing growth in China have pushed investors into the yen -- a safe haven during times of turmoil -- sending the dollar tumbling to 116.18 yen ...

Egyptian pound steady at official auction, weaker at exchange bureaus CAIRO: Egypt's central bank kept the pound steady at 7.73 per dollar at a foreign exchange auction on Tuesday, and the currency was slightly weaker at exchange bureaus. The central bank said it had offered $40 million and sold $37.8 million at a cut-off price of 7.7301 pounds per dollar , unchanged from the rate at the last auction on Sunday. The central bank kept the pound at 7.5301 for five months until last month, ...

Ugandan shilling firms after central bank says will sell dollars KAMPALA: The Ugandan shilling strengthened on Tuesday after the central bank said it planned to sell dollars, a day after the local currency hit a record low. At 0924 GMT commercial banks quoted the shilling at 3,450/3,470, after pulling back from a record low of 3,685/3,695. It had closed Monday at 3,655/3,665. "The central bank actually sold dollars twice this morning," said Shahzad Kamaluddin, trader at Crane Bank. "The bold action has helped restore confidence ...

Indian rupee, bonds gain after China eases rates, reserve requirements MUMBAI: The Indian rupee extended gains in afternoon trading on Tuesday, rebounding further from a two-year low against the dollar earlier in the day, after China's central bank cut interest rates and simultaneously relaxed reserve requirements. The Indian rupee gained to as much as 65.89 per dollar after the news from China from levels of around 66.20. It had earlier hit as low as 66.76 to the dollar, its weakest since Sept. 4, 2013. Meanwhile, ...

Sri Lankan rupee falls after state-run bank raises dollar peg COLOMBO: The Sri Lankan rupee fell for a third straight session on Tuesday after a state-run bank, through which the central bank usually directs the market, raised the currency's peg against the dollar by 15 cents, allowing the exchange rate to depreciate to 134.25.The rupee closed at 134.25 per dollar, 0.11 percent weaker from Monday's close of 134.10. It has fallen 0.26 percent in the last three sessions. "Though the state bank defended the rupee ...

Czech crown drops 0.2pc on day, weakest since end-July PRAGUE: The Czech crown eased 0.2 percent on Tuesday to 27.115 per euro, its weakest level since the end of July, Reuters data showed. "The region went wild a bit yesterday and it is levelling up today," a trader in Prague said. "The difference (between crown and regional peers) is not that dramatic. It is a bit nervous situation, China moves rates and it is so closely watched that everything moves." Copyright Reuters, 2015


Index Closing Chg%
Arrow DJIA 16,058.35 2.84
Arrow Nasdaq 4,636.11 2.94
Arrow S&P 1,913.85 2.96
Arrow FTSE 6,058.54 3.03
Arrow DAX 10,015.57 2.38
Arrow CAC-40 4,541.16 2.40
Arrow Nikkei 18,165.69 3.84
Arrow H.Seng 21,185.43 2.24
Arrow Sensex 25,696.44 2.23

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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