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Sterling weak but steady after BoE testimony LONDON: Sterling drifted lower on Tuesday as a mixed bag of testimony to parliament by Bank of England Governor Mark Carney and fellow policymakers failed to shift the consensus view on when interest rates will start to rise.The pound has shown resilience against the dollar in the past week but is still 9 percent down from July's 2014 peak of $1.71, frustrated by political risk and a pushing out of rate hike expectations.Traders said that while there were hints in the testimony that another member of the BoE's nine-strong policy committee, Kristin Forbes, was inching closer to a vote to tighten monetary policy, they still see the bank in "wait and see" mode.In just a few months, markets have gone from pricing in a chance that the Bank would raise rates before the end of this year to not pricing in a full quarter-point move until the end of 2015. ...

Rouble falls back, ends five-day winning streak MOSCOW: The Russian rouble reversed earlier gains on Tuesday, breaking a five-day winning streak as a cautious mood prevailed ahead of a key OPEC meeting on Thursday.At 1305 GMT, the rouble was 1.2 percent weaker against the dollar at 45.54 and 1.1 percent weaker at 56.59 versus the euro.The rouble had risen on opening, helped by monthly tax payments. Russian companies pay the monthly mineral extraction tax on Tuesday, requiring major exporters to convert foreign ...
Solid yen, yuan rebound support Asia FX; won turns firmer SINGAPORE: Most emerging Asian currencies edged up on Tuesday, helped by the yen's strength and a rebound in the Chinese yuan after it opened weaker than central bank guidance for the first time since September.South Korea's won turned firmer, outpacing regional peers, on demand from local exporters for month-end settlements. Custodian banks bought the currency as foreign investors were net buyers in Seoul's main stock market for a sixth straight session.Foreign exchange authorities were spotted ...
Rouble strengthens ahead of tax payments, eyes on OPEC MOSCOW: The Russian rouble rose on Tuesday morning, extending recent gains as imminent monthly tax payments outweighed a softening of the oil price ahead of an OPEC meeting. At 0820 GMT, the rouble was 0.6 percent stronger against the dollar at 45.27 and 0.5 percent stronger at 56.22 versus the euro.Russian companies pay monthly mineral extraction tax on Tuesday, requiring major exporters to convert foreign currency earnings into roubles. Profit tax, another major payment, falls ...
Yen gains as some BoJ policymakers fret about QE costs LONDON: The yen rose on Tuesday after Bank of Japan minutes showed the hurdle to further quantitative easing was high and as the dollar struggled to make much headway before a second reading of US growth data. Minutes of the last BOJ meeting showed board members expressing concern that expanding the central bank's quantitative easing could increase the risk that it will be seen as financing the government deficit. Separately in a speech, Governor Haruhiko ...
Aussie dollar hits 4-year low as RBA ramps up rhetoric against currency LONDON: The Australian dollar sank to a four-year trough against its US counterpart on Tuesday after the Reserve Bank of Australia's Deputy Governor Philip Lowe said the currency was overvalued. Lowe also said that a further drop in the Australian dollar would help support economic growth while making wages look less excessive by international standards. The Aussie fell to $0.8532, its lowest since July 2010 and down almost 1 percent on the day. Traders cited ...
Sterling dips ahead of BoE testimony LONDON: Sterling drifted lower on Tuesday with testimony by Bank of England Governor Mark Carney in parliament likely to dominate morning trade late.The pound has shown more resilience against the dollar in the past week but is still 9 percent down from this year's peak of $1.71 hit in July, driven back by political risk and a retreat in forecasts of when the BoE will raise interest rates. BMO strategist Stephen Gallo said he expected ...


Index Closing Chg%
Arrow DJIA 17,814.94 0.02
Arrow Nasdaq 4,758.25 0.07
Arrow S&P 2,067.03 0.12
Arrow FTSE 6,731.14 0.02
Arrow DAX 9,861.21 0.77
Arrow CAC-40 4,382.31 0.32
Arrow Nikkei 17,407.62 0.29
Arrow H.Seng 23,843.91 0.21
Arrow Sensex 28,338.05 0.57

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln