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Sterling hits six-year high against weakened euro LONDON: Sterling hit a six-year high against a struggling euro on Thursday on growing expectations the European Central Bank will embark soon on outright government bond buying.Traders said the pound was also still drawing support from expectations that the British economy would outperform its peers in Europe.With inflation subdued and growth slowing, investors have pushed back when they expect the Bank of England to raise interest rates. But the UK's prospects still contrast with the threat of deflation facing the euro zone.The euro was down 0.1 percent at 77.30 pence, having dropped to 77.25 pence, its lowest level since late 2008. The single currency has lost 3.5 percent in the past three months and chartists say it on the verge of dropping to lows of 74.50 pence - a level last visited in early 2008."Short euro/sterling looks a good avenue to be exposed to ECB QE and any re-assessment of ...

Swiss franc move sends shockwaves though central Europe LONDON: The forint hit record lows on Thursday and central European bank shares tumbled after Switzerland abandoned its cap on the franc, reviving concerns about franc debt held by households and banks in Poland and Hungary.Asian currencies had strengthened earlier, led by the rupee which benefited from India's first rate cut since May 2013.As the Swiss franc soared almost 30 percent against the euro, the forint dropped 1.8 percent against the shared currency and other ...
Swiss franc soars 29pc against euro LONDON: The Swiss franc soared 29 percent against the euro, after Switzerland's central bank said it was ending a three-year bid to artificially hold down the franc's value.Minutes after the bank said it was removing its exchange rate floor of 1.20 franc to the euro, the france strengthened sharply to 0.8517.Copyright AFP (Agence France-Presse), 2015 ...
Switzerland ends euro minimum exchange rate, cuts interest rate GENEVA: The Swiss central bank said Thursday it was ending its three-year bid to artificially hold down the value of the Swiss franc against the euro and said it was slashing interest rates to -0.75 percent."The Swiss National Bank is discontinuing the minimum exchange rate of 1.20 francs per euro," the bank said in a statement that immediately sent the franc soaring against Europe's common currency.Copyright AFP (Agence France-Presse), 2015 ...
Sterling firm near 6-year high against weakened euro LONDON: Sterling hit a more than six-year high against the euro on Wednesday after an adviser to Europe's highest court left the door open to the European Central Bank embarking on outright government bond buying. Sterling also rose against the dollar with the greenback fell on weaker-than-expected retail sales data out of the United States. Retail sales fell 0.9 percent in December as demand fell nearly across the board. It was the largest decline in ...
Currencies fall ahead of Polish central bank meeting BUDAPEST: Central European currencies and equities fell on Wednesday as concerns over the global economy weighed on sentiment ahead of a meeting of the Polish central bank.The bank is expected to keep rates on hold but its comments may underpin expectations for a cut later in the first quarter of 2015 as anaemic inflation and sluggish European growth are seen triggering further monetary policy easing in the region.The latest sign of pressure for easing was ...
Russian rouble trims losses on Finance Ministry forex plan MOSCOW: The Russian rouble weakened on Wednesday, tracking lower oil prices, but was lifted by a Finance Ministry plan to convert $7.6 billion in forex reserves. At 0930 GMT the rouble was 0.9 percent weaker against the dollar at 65.80 and 0.6 percent weaker against the euro at 77.45. The price of international oil benchmark Brent was down around 0.9 percent on Wednesday to $46.15 per barrel, hovering slightly above a six-year low. The rouble ...

 



 
Index Closing Chg%
Arrow DJIA 17,652.60 0.79
Arrow Nasdaq 4,757.88 0.16
Arrow S&P 2,051.82 0.55
Arrow FTSE 6,832.83 0.53
Arrow DAX 10,649.58 2.05
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Arrow Sensex 29,278.84 0.94






ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyNovember
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln