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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 it.Bets against the euro are at a high level but investors are still looking to sell into rebounds, with ECB President Mario Draghi likely to say the bank intends to fully deliver previously announced stimulus measures as risks to growth remain and inflation is subdued.That would quash talk the ECB might scale down its asset purchase programme sooner rather than later, and send the euro lower, traders said. Draghi may also address Greece's debt problems ...

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 ...
Turkish lira tumbles to new low against dollar ISTANBUL: Turkey's embattled lira on Tuesday tumbled to a new low in value against the dollar, pressured by the possibility of the US Federal Reserve raising rates and domestic jitters ahead of June 7 elections.The lira hit the new record low in value against the dollar of 2.67 to the greenback, a loss of in value of 0.34 percent on the day and a loss of 2.75 percent over the last five days.The lira has ...
Rouble rallies, analysts warn euphoria may be short-lived MOSCOW: The Russian rouble rose strongly on Monday, supported by rising oil prices and looming tax payments by exporters who need to convert their foreign currency revenues to pay bills, but analysts said the rally could be short-lived.At 1155 GMT, the rouble was 2.0 percent stronger against the dollar at 52.54, after trading as much as 3 percent higher on the day. It also firmed 2.9 percent to trade at 55.36 to the euro.Oil prices ...
Russian ruble rides to five-month high MOSCOW: The Russian ruble traded at a five-month high Friday, having steadily climbed out of its winter slump to the joy of officials and leaving analysts scratching their heads. The Russian currency was trading as high as 50.27 to the dollar and 53.4 to the euro around the early afternoon. It was the ruble's strongest point since early December.The ruble slumped dramatically in December as global oil prices collapsed, taking its 2014 drop to over ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,142.89 0.07
Arrow Nikkei 20,264.41 0.30
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,957.50 0.53

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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 21, 2015
Reserves $17.75 bln