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Retail shortfall prods sterling lower, gilts down LONDON: Sterling fell by around a third of a percent on Thursday after British retail sales dropped more than expected in September, another sign that one of the developed world's brighter economic recoveries is slowing. The impact was eased by subdued expectations for the data and by the prospect of a more upbeat first estimate of third-quarter economic growth on Friday. But the 0.3 percent decline on the month, largely ascribed to better weather that kept winter clothes sales down, was enough to knock sterling back against both the dollar and the euro. "Sterling has been very sensitive to data over the past couple of weeks and that is clearly because of the repricing in expectations for Bank of England interest rates," said Michael Sneyd, a strategist with BNP Paribas in London."It seems like against the dollar we may see a dip back below $1.60 in the next few days, ...


Polish zloty hits 15-month low against the dollar WARSAW: Poland's zloty currency fell to its lowest in 15 months against the dollar on Thursday, with weak Polish retail sales data supporting the case for further rate cuts in central and eastern Europe's largest economy.Regional currencies were stable against the euro, which was supported by data showing euro zone business growth has picked up unexpectedly this month.The diverging expectations for monetary policy in the United States, which is expected to tighten somewhere in 2015, ...

Sterling falls after UK retail sales disappoint LONDON: Sterling fell by around a third of a percent on Thursday after British retail sales dropped more than expected in September, another sign that one of the developed world's brighter economic recoveries is slowing. The impact was eased by subdued expectations for the data and by the prospect of a more upbeat first estimate of third-quarter economic growth on Friday. But the 0.3 percent decline on the month, largely ascribed to better weather that ...

Rouble at new low after oil slips, fragile China weighs on stocks LONDON: More problems related to the drop in oil prices pushed Russia's rouble to a record low on Thursday, as mixed data from China and gains by the dollar squeezed emerging market stocks and currencies from both sides. MSCI's main emerging market index was on course to break a four-day run of gains. A 1 percent decline in Chinese shares and a 1.6 percent drop by Russian stocks set the day's course. Moscow's troubles were ...

Brighter euro zone PMI surveys help euro recover from lows LONDON: The euro recovered from a two-week low against the dollar on Thursday after data showing an unexpected pick-up in euro zone business growth, though gains could be fleeting amid continued expectations of more monetary easing. Concerns over the health of the European banking sector have also weighed on the euro, and those worries deepened after Spanish newswire Efe said on Wednesday at least 11 lenders had failed stress tests run by the European Central ...

Turkish lira gains before central bank meeting ISTANBUL: Turkey's lira strengthened on Thursday before the central bank's monthly rate-setting meeting, after which the bank's language will be closely examined.All 15 economists polled by Reuters expect the Turkish central bank to leave its main one-week repo rate at 8.25 percent when it meets on Thursday. Only one predicted a 25-basis-point cut in the overnight lending rate.A signal from the central bank over possible rate cuts could hurt the lira, bankers said."If we see ...

Sri Lanka rupee forwards steady despite importer dollar demand; budget awaited COLOMBO: Sri Lankan rupee forwards traded steady on Thursday despite dollar demand from importers as the central bank's intervention via moral suasion prevented a sharp fall in the local currency, dealers said.Exporters were reluctant to sell dollars ahead of the budget announcement for 2015 on Friday, dealers said.The spot currency was quoted at 130.75/95 per dollar but not traded, dealers said. It closed at 130.60/80 on Friday.The three-day forwards, or spot-next, actively traded in the ...


 



 
Index Closing Chg%
Arrow DJIA 16,974.31 0.18
Arrow Nasdaq 4,549.23 0.33
Arrow S&P 1,982.30 0.14
Arrow FTSE 6,453.87 0.81
Arrow DAX 9,082.81 0.16
Arrow CAC-40 4,110.64 0.05
Arrow Nikkei 15,553.91 1.46
Arrow H.Seng 23,819.87 1.27
Arrow Sensex 27,098.17 0.81





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln