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Sterling surges after stronger-than-expected UK retail sales LONDON: Sterling hit a two-month high versus the euro and jumped against the dollar on Thursday after data showed British retail sales rose more strongly than expected in April, recovering from a fall the previous month.The pound had taken a knock earlier in the week on news that UK inflation had fallen below zero for the first time since 1960 in April. But the sales figures eased concerns that a slowdown in Britain's economy in the first quarter might be the start of a longer period of weakness.Retail sales volumes rose 1.2 percent on the month, the strongest increase since November, to show 4.7 percent growth on the year, the Office for National Statistics said. That exceeded economists' expectations of a 3.8 percent year-on-year rise.Sterling hit the day's high of $1.5657 after the numbers, up from $1.5605 before their release and leaving the pound up 0.9 percent on the day."The ...

Euro lifted by French PMI survey, but weaker German data caps gains LONDON: The euro rose against the dollar for the first time in four days on Thursday, helped by signs of a recovery in French business activity, although a slowdown in Germany's private sector kept gains limited.Markit's flash composite Purchasing Managers' Index (PMI) for Germany, which tracks manufacturing and services activity accounting for more than two-thirds of the economy, dropped from April's final reading.For France, data compiler Markit said its preliminary composite purchasing managers index, moved ...
Bank of England minutes push sterling higher LONDON: Sterling rallied against the dollar and euro on Wednesday after minutes from the latest Bank of England meeting showed that two policymakers who voted to keep interest rates on hold made finely balanced decisions.Minutes of the Monetary Policy Committee's May meeting showed all nine members voted to keep rates at a record low of 0.5 percent. But they were split on the risk that falling unemployment would trigger faster wage growth, which could stoke ...
Dollar up for third day, eyes on Fed and Greece LONDON: The dollar touched a three-week high against the euro before halting on Wednesday, a third day of gains adding to a growing sense the U.S. currency may be ready for another run higher after its weakest period in four years.Another push below $1.10 per euro in the short term should depend largely on upcoming economic data, and Federal Reserve minutes later on Wednesday will provide more fodder for the argument over whether the U.S. ...
Turkish lira eases ahead of central bank decision, Otosan shares ease ISTANBUL: The Turkish lira weakened against the dollar on Wednesday as the US currency gained globally, and as investors took a cautious tack ahead of a Turkish central bank policy meeting expected to see interest rates left on hold.Shares also weakened, with carmaker Ford Otosan dropping 1.2 percent after it said production was halted at two plants due to supply problems caused by a widening labour dispute in the sector.All 19 economists in a Reuters ...
Euro dives under $1.12 as ECB officials signal further action LONDON: The euro dived back below $1.12 on Tuesday after European Central Bank officials said the bank could take further action to lower euro zone bond yields and boost inflation, potentially flooding the market with yet more euros.Sterling also skidded, shedding over 1 percent to fall below $1.55 after data showed British inflation fell into negative territory last month for the first time since 1960.ECB Executive Board member Benoit Coeure said the bank would buy ...
Sterling falls back after consumer prices drop LONDON: Sterling sank below $1.56 on Tuesday, hitting a one-week low as the dollar rebounded and data showed UK consumer prices fell last month from a year ago, the first annual decline since 1960.Two days of gains for the dollar, on its worst run in four years since mid-April, have curbed a rally for sterling that followed a victory for Prime Minister David Cameron's Conservatives at elections on May 7.The market broadly favours Cameron, but ...


Index Closing Chg%
Arrow DJIA 17,619.51 0.13
Arrow Nasdaq 4,986.87 0.57
Arrow S&P 2,063.11 0.27
Arrow FTSE 6,520.98 1.50
Arrow DAX 10,944.97 1.25
Arrow CAC-40 4,790.20 1.63
Arrow Nikkei 20,235.73 0.63
Arrow H.Seng 26,250.03 1.09
Arrow Sensex 27,780.83 0.49

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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJune 25, 2015
Reserves $17.457 bln