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Sterling rises against dollar on US rate hike doubts LONDON: Sterling hit its highest against the dollar in over a week on Thursday, after weaker-than-expected US economic data cast doubt on prospects of a Federal Reserve interest rate hike this year. US housing starts rose far less than expected in March and permits recorded their biggest drop since last May, which could raise concerns about the US economy's ability to bounce back from a soft patch hit in the first quarter. Separate data showed the number of Americans filing new claims for jobless benefits unexpectedly rose last week. By 1415 GMT, sterling was up 0.3 percent at $1.4886 as the dollar fell across the board, having fallen to a five-year trough of $1.4567 at the start of the week. Against the euro, the greenback was 0.2 percent lower, having yo-yoed by up to 5 cents this week. "Euro/dollar is a bit all over the place at the moment, and ...

Currencies ease, Poland gives no guidance on zloty BUDAPEST: Central Europe's main currencies weakened on Wednesday, although the zloty remained near multi-year highs after Poland's central bank avoided commenting at a news conference on its recent strength.Hungary's forint led the weakening, shedding 1.2 percent against the euro by 1530 GMT. The Hungarian central bank said a planned tax cut would depend on banks increasing corporate lending. Managing Director Martin Nagy also said more measures might be adopted to help foreign currency borrowers.In Poland, ...
Sterling hits four-week high vs euro after ECB sticks to QE guns LONDON: Sterling rose half a percent to a four-week high against the euro on Wednesday after the European Central Bank said it had no plans to curb or curtail its 1.1 trillion-euro asset-purchase programme.Describing speculation that the fledgling 60 billion-euro-a- month scheme would be scaled back as "surprising", ECB President Mario Draghi made clear quantitative easing would last until September 2016 or until inflation was back up to target. The euro fell across the board ...
Euro on the ropes as ECB set to stick to QE despite recent pickup LONDON: The euro fell broadly on Wednesday, after the European Central Bank kept borrowing rates unchanged, as expected, and is likely to reiterate a dovish policy bias despite a recent pick-up in economic activity.At Wednesday's meeting, the ECB left its main refinancing rate, which determines the cost of credit in the economy, at 0.05 percent. It also kept the rate on bank overnight deposits at -0.20 percent, which means banks pay to park funds with ...
Sterling dips vs dollar, all eyes on polls LONDON: Sterling fell a third of a percent against a broadly stronger dollar on Wednesday, but was around 2 cents above 5-year lows hit earlier this week as questions continue about the impact of elections next month.While there has been much hedging by financial players against potential volatility around May 7 polls from which no outright winner is expected, the pound's trade-weighted value has been stable for almost two months and is up more than ...
Sterling dips after inflation holds at zero LONDON: Sterling fell by as much as half a cent against the dollar on Tuesday after UK headline inflation came in at zero for the second month running, while other price indicators were marginally softer than expected.Weak inflation is one of the main barriers standing between the Bank of England and an early rise in interest rates, and doubt about the bank's ability to move before the middle of next year have hurt the pound. ...
Yen weakens briefly after PM's advisor clarifies FX comments LONDON: The yen weakened slightly on Tuesday after an economic adviser to Japan's Prime Minister Shinzo Abe told Reuters that the U.S. dollar at 120 yen is acceptable, a day after comments that were taken to mean the government viewed it as too weak.The dollar, which was trading at around 119.70 yen before his comments, rose to trade at 119.95 yen, still down 0.1 percent on the day. The euro which had fallen to a ...


Index Closing Chg%
Arrow DJIA 18,070.40 1.26
Arrow Nasdaq 5,016.93 0.23
Arrow S&P 2,114.49 0.29
Arrow FTSE 6,985.95 0.36
Arrow DAX 11,619.85 1.44
Arrow CAC-40 5,081.97 0.70
Arrow Nikkei 19,531.63 0.06
Arrow H.Seng 28,133.82 0.03
Arrow Sensex 27,490.59 1.77

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 04, 2015
Reserves $17.491 bln