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Euro rises after Fed says more bond-buying in 2013  NEW YORK: The euro extended its gains against the US dollar on Wednesday after the Federal Reserve, as expected, left benchmark US interest rates unchanged and said it would extend its bond- buying economic stimulus program into 2013.   The Fed's program, which has also kept interest rates in a range of zero to 0.25 percent for four years, is being beefed up with a commitment to purchase $45 billion monthly in long-term US Treasuries. This is in addition to buying $40 billion a month in agency mortgage-backed securities.   Market expectations for the program were well flagged by investors and led to losses for the greenback ahead of the Fed's decision. The extra spending floods financial markets with cash, reducing the buying power of the US currency.   The Fed hopes the cash will spur extra spending and investment and result in longer-term hiring. For the first time the Fed tied its monetary policy to ...


Italy MILAN: Italy raised 6.5 billion euros ($8.5 billion) in one-year bonds on Wednesday at a rate that was lower than last month despite increased tensions after Prime Minister Mario Monti announced he will resign.   The borrowing rate demanded by investors was 1.456 percent compared to 1.762 percent previously and demand was almost twice as high as the offer.   Copyright APP (Associated Press of Pakistan), 2012** Copyright AFP (Agence France-Presse), 2012**

Forint, zloty down on rate cut prospects BUCHAREST: Hungarian forint and Polish zloty fell against the euro on Wednesday driven by rate cut expectations, while the Czech crown shrugged off central bank comments pointing to intervention aimed at weakening the unit to support a fragile economy.   Prospects of Hungarian and Polish rate cuts outweighed expectations the Federal Reserve will announce a fresh round of bond buying with newly created money later on Wednesday, which were supporting riskier assets worldwide.   The forint and zloty are ...

Sterling hits 5-weak high vs dollar LONDON: Sterling hit a five-week high against the dollar on Wednesday after a better-than-expected UK jobs report and could gain further if the Federal Reserve aggressively eases monetary policy.   The Fed's Open Market Committee (FOMC) is expected to announce a fresh round of bond buying as part of its efforts to support a fragile economic recovery threatened by political wrangling over the government's budget.   Traders said the pound could extend gains to hit early November highs of ...

Sterling hits five-week high versus dollar  LONDON: Sterling hit a five-week high against the dollar on Wednesday after the number of UK unemployment claims fell unexpectedly in November.   The pound hit a high of $1.6134, its highest level since Nov. 1, before paring gains to last trade close to flat on the day at $1.6120. Copyright Reuters, 2012**

Dollar vulnerable before Fed, yen weakens further  LONDON: The dollar dropped to a three-month low against the higher-yielding Australian dollar on expectations of further monetary stimulus from the US Federal Reserve later on Wednesday.   But it hit an eight-month high against the yen on bets the Bank of Japan will implement more aggressive monetary easing after a likely victory of the Liberal Democratic Party in an election on Sunday.   The Fed is expected to announce a fresh round of Treasury bond purchases later on ...

South Africa JOHANNESBURG: South Africa's rand was steady against the dollar on Wednesday ahead of domestic inflation data as markets also await the Federal Reserve's policy meeting announcement.   At 0730 GMT the rand was little changed at 8.6535 against the greenback after ending Tuesday's New York session at 8.6551.  Consumer price inflation figures are due at 0800 GMT, with economists expecting year-on-year inflation to have remained steady at 5.6 percent in November.   A higher number could raise the prospect ...


 



 
Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
Arrow DAX 9,598.17 0.48
Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52





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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln