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Sterling hits 14-month low vs dollar, UK-US yield gap narrows LONDON: Sterling fell to a 14-month low against a buoyant dollar on Friday, on track for a fourth straight week of losses as investors unwound bets that the Bank of England would raise interest rates any time soon. The gap between the interest rate-sensitive two-year UK gilt yield and its US counterpart has narrowed to its lowest since October 2013, making the pound less attractive to investors. The gap has narrowed after the Bank of England said on Wednesday that inflation was likely to slow further, pushing back bets on the first post-crisis interest rate hike to the end of 2015 with some now pricing in a move in the first quarter of 2016. That raises the prospect that the UK will be beaten as the first major central bank to raise interest rates since the financial crisis - an accolade it had been widely expected to win until the ...

Swiss franc hits 26-month high vs euro, pressure on SNB's cap builds LONDON: The Swiss franc struck a 26-month high against the euro on Friday, after growth data from the euro zone's two biggest economies failed to cool bets for more monetary easing from the European Central Bank. Germany narrowly dodged recession, with gross domestic output up 0.1 percent in the third quarter, in line with the median forecast in a Reuters poll of economists. France, the euro zone's second biggest economy, eked out a surprising 0.3 ...
Sterling hovers near 14-month low, UK-US yield gap narrows LONDON: Sterling fell on Friday, hitting a 14-month low against the dollar, and on track for a fourth straight week of losses as investors unwound bets that the Bank of England would raise interest rates any time soon. The gap between the interest-rate sensitive two-year UK gilt yield and the US counterpart has narrowed to its lowest since October 2013, making the pound less attractive to investors. The gap has narrowed after the Bank of ...
Currencies firm on benign economic growth readings BUCHAREST: Central European currencies edged up in early session on Friday after a bout of positive economic data showing higher-than-expected economic growth and a confirmation that Romania was not undergoing temporary recession earlier this year. The forint firmed to a fresh four-week high, gaining 0.1 percent to 305.2 per euro and the Romanian leu edged up 0.1 percent to 4.42. the Polish zloty also firmed 0.1 percent to 4.23 per euro. Hungary's economy grew by ...
Rouble resumes slide as weak yen depresses mood LONDON: Emerging market assets continued to struggle on Friday, with a slowing China and political tensions around Russia depressing the mood while a sinking yen raised concerns about Asian economies competing with Japan. With Brent crude near a four-year low below $78 per barrel and a ceasefire in eastern Ukraine looking precarious, Russian assets suffered more pain, while commodity exporters like South Africa and Nigeria also saw their currencies slide. "You have these two major ...
Sterling at 14-month low after weak UK housing numbers LONDON: Sterling fell to a 14-month low against the dollar on Thursday, as weak UK housing data added to growing doubts that interest rates would rise any time soon, a day after a cautious message from the Bank of England.The monthly RICS house price survey showed British property values growing at their weakest in 18 months - until recently many had thought the UK's property market was bubbling over and had used it as an ...
Yen stuck near lows on talk of Japanese snap election LONDON: The dollar moved towards a recent seven-year high against the yen on Thursday, driven by speculation that Japanese Prime Minister Shinzo Abe will call a snap election in December.Abe would be likely to be returned to power with a bigger mandate, which analysts believe he would use to implement a second round of reflationary policies and possibly delay a planned sales tax hike.That has spurred a rally in Japanese stocks and weighed on the ...

 



 
Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95






Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln