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Sterling suffers ahead of UK austerity budget LONDON: Sterling fell another half a percent against the dollar and euro ahead of Britain's post-election budget on Wednesday, hitting a four-week low against the dollar which reflects a return of concern over the pace of economic growth ahead. Sterling had jumped on the back of some better economic numbers in recent months and the returning of a majority Conservative administration in May's general elections. But with Greece's problems threatening another shock to European economies, UK finance minister George Osborne's promise to go harder on austerity and start reducing overall debt soon bodes ill for the immediate outlook. "Osborne has frontloaded some of the bad news so the end result today may not be quite as bad for sterling, but on top of Greece it is still an austerity budget," said Jane Foley, a strategist with Rabobank in London. She said it was hard to disentangle the moves in sterling ...

Yen hits 6 week high as China, Greece turmoil saps risk appetite LONDON: The yen climbed to a six-week high against the dollar on Wednesday as investors already shaken by Greece's debt crisis were further rattled by plunging Chinese stocks, pushing them to seek out traditional safe havens. The euro stabilised at around $1.10, having been boosted a touch late on Tuesday after member states gave Athens until the end of the week to come up with a proposal for sweeping reforms in return for loans. Chinese ...
Dollar surge sends sterling to three-week low LONDON: Sterling fell to a three-week low against the dollar on Tuesday, suffering along with other European currencies from a jump in the greenback's value as interest rate differentials moved in its favour. Mixed data on UK industrial and manufacturing output, which is often secondary to services sector numbers in terms of impact on the country's economic growth, gave markets little steer on when the Bank of England could raise interest rates. The pound, however, ...
Assets rebound as euro summit on Greece approaches BUDAPEST: Central European currencies and government bonds mostly gained on Tuesday, recovering from a moderate decline after Greece rejected the terms of a debt bailout in a referendum on Sunday.Euro zone leaders will meet after local markets close to try to come up with a new bailout agreement. Without further aid, Greece is in danger of falling out of the euro zone.But the main signs of fear that Greece's problems will spread were a 0.1 ...
Sterling edges up against euro, UK welfare cuts expected LONDON: Sterling climbed against the euro on Monday after Greek voters overwhelmingly rejected terms of a rescue package, boosting safe-haven flows into Britain's bonds and currency. There was no sense of panic selling in the euro, amid expectations the European Central Bank would take policy action to stabilize the market if necessary and hold emergency funding to Greek banks at the same level as last week. But the common currency, which edged up from lows ...
Sterling recovers from 2-week low on US jobs data, upbeat UK numbers LONDON: Sterling recovered from two-week lows against the dollar on Thursday, after a softer-than-expected US jobs report weighed on the greenback while a robust survey on UK construction sector underpinned the pound. US nonfarm payrolls increased 223,000 last month, the Labor Department said, falling short of expectations. Adding to the report's soft note, April and May data was revised to show 60,000 fewer jobs were added than previously reported. In addition, average hourly earnings were ...
Russian rouble edges higher; market awaits payrolls MOSCOW: Russia's rouble edged higher early on Thursday, reversing some of its losses from the previous session, as traders switched focus from Greece's debt crisis to US data later in the day.At 0740 GMT, the rouble was around 0.5 percent stronger against the dollar at 55.57 and 0.4 percent higher at 61.43 versus the euro.Market volumes were relatively thin as Russia starts to enter the holiday season when many traders are away from their desks.The ...


Index Closing Chg%
Arrow DJIA 17,751.39 0.69
Arrow Nasdaq 5,111.73 0.44
Arrow S&P 2,108.57 0.73
Arrow FTSE 6,631.00 1.16
Arrow DAX 11,211.85 0.34
Arrow CAC-40 5,017.44 0.81
Arrow Nikkei 20,302.91 0.13
Arrow H.Seng 24,619.45 0.47
Arrow Sensex 27,563.43 0.38

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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln