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Yuan slide seen adding to StanChart's Asian challenges LONDON: Already faced with a battle to revive the fortunes of banking group Standard Chartered , new Chief Executive Bill Winters is now confronted with another challenge in the shape of China's yuan devaluation. Just over a week after Winters outlined his plans to revive the bank after a slump in profits, analysts say his turnaround efforts could be hampered by the yuan devaluation which threatens to increase bad debts in Asia and weaken other currencies in the region. London-based Standard Chartered is the European bank most exposed to Asia's economic weakness and currency volatility, which come just as Winters launches his attempts to lift the bank's fortunes and improve profitability. "We think that asset quality will continue to deteriorate and the worst is yet to come," said Barry Norris, chief investment officer at Argonaut, a fund that has a short position on the stock. The bank, for many years ...

Turkish lira falls after two biggest parties end meeting on coalition ISTANBUL: The Turkish lira on Thursday declined to its weakest level in two months as the heads of the two biggest parties ended a meeting on forming a coalition government after 1-1/2 hours and a senior opposition official said the talks ended negatively.The lira traded at 2.8 against the dollar after Prime Minister Ahmet Davutoglu and main opposition leader Kemal Kilicdaroglu ended their meeting. Davutoglu was due to hold a news conference at 4.30 pm ...
Growth outlook buoys currencies, inflation data weighs BUDAPEST/WARSAW: Central European currencies were mostly steady on Tuesday after lower-than-expected Hungarian and Romanian consumer price data underpinned that inflation remains anemic in the region.China's unexpected devaluation of its currency also raised the prospect of weaker global commodities prices, which would reduce inflation pressure in Central Europe.That also helped push up bonds across the region but some stock prices fell, tracking global equity markets as investors worried about the implications of China's move, which was ...
Sterling falls on lingering UK rate hike doubts LONDON: Sterling edged towards a three-week low versus the dollar on Monday, after its weakest week in three months against the US currency as investors pushed back their expectations of when UK interest rates would rise.Minutes from the Bank of England's latest monetary policy committee meeting released on Thursday showed just one policymaker voted for an immediate increase in interest rates. Many in the market had speculated that at least two MPC members would vote ...
Sterling steady before Bank of England ‘Super Thursday’ LONDON: Sterling trod water, less than 1 percent off a 7-1/2-year high against the euro on Monday with all eyes on a bumper day of data and Bank of England publications on Thursday that could give the pound another boost. Sterling has risen steadily for four months against the single currency, even as the euro stabilised against the dollar, driven chiefly by a revival of speculation that Britain's central bank could raise interest rates at ...
Swiss franc strengthens after SNB posts record losses LONDON: The Swiss franc rose to a one-week high against the euro and jumped 0.8 percent against the dollar on Friday, after the Swiss National Bank unveiled record losses that raised questions about how long it can keep intervening to check the strength of the franc. The euro fell to 1.05315 francs while the dollar dropped to 0.96165 francs, retreating from a three-month high hit earlier this week on expectations that the Federal Reserve will ...
Sterling bucks dollar bull trend with help from UK rate outlook LONDON: Sterling hit a one-week high on a trade-weighted basis on Thursday, bucking a broad dollar rally on expectations that the Bank of England is likely to follow the US Federal Reserve in raising interest rates in the coming months. The pound was the only major currency to remain steady versus the greenback on Thursday, which was boosted by data that showed US economic growth accelerated in the second quarter as consumer spending picked up, ...


Index Closing Chg%
Arrow DJIA 16,643.01 0.07
Arrow Nasdaq 4,828.32 0.32
Arrow S&P 1,988.87 0.06
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,298.53 0.17
Arrow CAC-40 4,675.13 0.36
Arrow Nikkei 19,136.32 3.03
Arrow H.Seng 21,612.39 1.04
Arrow Sensex 26,392.38 0.61

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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