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Euro hits new 3-month low, sterling falls LONDON: The euro fell to a new three-month low on Wednesday as expectations solidified for a multi-pronged attack on monetary policy by the European Central Bank next week.A number of banks have been reluctant to continue to sell the euro ahead of the central bank's policy meeting, speculating that the scale of action it takes to bolster the economy - and reduce euro zone interest rates - may yet disappoint markets.But comments this week by ECB President Mario Draghi were read as confirming the bank is on course to ease policy significantly. Many banks now expect cuts in more than one of its main rates as well as targeted steps to force more credit into the economy."It does feel like something is finally beginning to change on the euro," Neil Mellor, a strategist at Bank of New York Mellon in London, said."A lot is riding on Draghi's shoulders, but if ...

Turkish lira slips as government calls for lower interest rates ISTANBUL: The Turkish lira fell more on Wednesday as investors braced themselves for further interest rate cuts after Prime Minister Tayyip Erdogan said the central bank's latest rate reduction was insufficient. The lira slipped to 2.1094 against the dollar at 0726 GMT, compared with 2.0979 late on Tuesday. Last week the central bank cut interest rates for the first time in more than a year, following a round of huge rate hikes in late January ...
Euro heads back toward 3-month lows, yuan slides LONDON: The euro traded within sight of a three-month low on Wednesday as expectations solidified for a multi-pronged attack on monetary policy by the European Central Bank next week. A number of banks have been reluctant to continue to sell the euro ahead of the central bank's policy meeting, speculating that the scale of action it takes to bolster the economy - and reduce euro zone interest rates - may yet disappoint markets.But comments this ...
UK mortgage lending data halts sterling in its tracks LONDON: Sterling weakened against the dollar on Tuesday after a fall in British mortgage lending gave investors an excuse to cash in on the pound's recent gains a day after U.S. drug company Pfizer abandoned its attempt to buy Britain's AstraZeneca.Data from the British Bankers' Association painted a mixed picture of the housing market but showed Britain's banks last month approved the lowest number of mortgages since August.One week before the Bank of England releases ...
Turkish lira falls after Erdogan says rate cut not enough ANKARA: The Turkish lira fell on Tuesday in anticipation of further interest rate cuts after Prime Minister Tayyip Erdogan said the central bank's action last week on rates was not enough and called for more "serious" decisions from the bank.The central bank cut interest rates for the first time in a year last Thursday, despite stubborn inflation, after calls for a rate cut from the prime minister. It lowered its one-week repo rate, the main ...
Sterling retreats, eyes on US data LONDON: Sterling sank as much as 0.4 percent against the dollar and euro on Tuesday after weak lending data added to concerns over a European election win for the anti-EU UKIP party.Dealers said the pound, little traded during a UK and U.S. holiday on Monday, was also hurt by Pfizer's formal confirmation on Monday that it was abandoning its attempt to buy AstraZeneca for nearly 70 billion pounds ($118 billion)"There is a mix of factors ...
Euro inches up after EU elections LONDON: The euro recovered early losses on Monday after election results handed a significant share of the EU parliament to Eurosceptics but failed to deliver the serious domestic blow to some European governments feared by analysts.With London and U.S. markets closed for holidays, volumes were less than half of daily averages, often an environment which can make for volatile moves in pricing.The euro blipped higher soon after the start of European trading, but was still ...

 



 
Index Closing Chg%
Arrow DJIA 18,041.54 1.04
Arrow Nasdaq 5,032.75 1.11
Arrow S&P 2,104.20 1.03
Arrow FTSE 6,948.99 1.18
Arrow DAX 11,625.13 1.61
Arrow CAC-40 5,083.54 0.66
Arrow Nikkei 20,437.48 0.12
Arrow H.Seng 28,249.86 0.92
Arrow Sensex 27,531.41 0.41





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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln