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Sterling hits one-month low vs euro, extending two-week decline LONDON: Sterling slipped to a one-month low against the euro on Tuesday, extending a two-week losing streak despite data showing Britain's trade deficit narrowed to its lowest in over a year in April.The numbers from the Office of National Statistics, which showed Britain's total trade gap narrowed to 1.202 billion pounds in April, suggest the deficit might act as less of a brake on growth during the current quarter than it did in the first three months of the year.But sterling was hardly moved by the data, trading down half a percent against the euro at a one-month low of 73.895 pence .The shared currency has gained some 4.5 percent against the pound over the past two weeks, driven higher by a sharp rise in core European bond yields as well as a run of weaker-than-expected UK economic data.Figures released last week showed growth in Britain's dominant service sector slowed ...

Turkish lira near record low after AK Party fails to win majority ISTANBUL: The Turkish lira traded near a record lows on Monday as nervous investors reacted to the prospects of a minority or coalition government after the ruling AK Party failed to win a majority in a parliamentary election.The lira, already one of the worst performing emerging market currencies this year, hit a record low in out-of-hours trade on Sunday, after results showed the AKP had taken just short of 41 percent of the vote.The result ...
Euro pushes through $1.10 after higher inflation print LONDON: The euro rose one percent on Tuesday after a better-than- expected inflation number pushed it through resistance at $1.10, triggering automatic orders to limit losses for those betting on further gains for the dollar.The Australian dollar also surged after the country's central bank shied away from pointing to more cuts in interest rates, while the yen recovered some ground after weakening to more than 125 yen per dollar for the first time since 2002.With ...
Turkish lira hits three-week low as election slide continues ISTANBUL: The Turkish lira slid to a three-week low on Tuesday, pummelled again by investor concerns the ruling AK Party may struggle to form a single-party government after June 7 elections.The lira, one of the worst-performing emerging market currencies this year, has been at the whim of voter opinion polls in recent weeks.It was initially bolstered last month on forecasts the ruling party would secure a simple majority, ensuring continuity without giving the government enough ...
Sterling hits three-week low on UK manufacturing PMI miss LONDON: Sterling fell to a three-week low against the dollar on Monday, erasing all the gains it had made since last month's national election, after data showed the British manufacturing sector grew at a much slower pace than expected in May.The Markit/CIPS manufacturing Purchasing Managers' Index (PMI) rose to 52.0 in May from a downwardly revised 51.8 in April, but that was lower than the increase to 52.5 forecast by a Reuters poll of analysts..That ...
Dollar weighs on copper, but fundamentals support LONDON: Copper slipped on Monday as the higher dollar weighed on sentiment, but expectations of stronger demand from top consumer China and lower supplies of concentrate helped support.China's official manufacturing PMI survey edged up to 50.2 in May, but the survey also showed shrinking exports, which fuelled worries about a prolonged economic slowdown.A stronger dollar makes commodities priced in the US currency more expensive for non-US firms.Benchmark copper on the London Metal Exchange traded lower ...
Euro falls as Greece deadlock remains LONDON: The euro fell on Monday after Greece failed to meet a self-imposed Sunday deadline for reaching an agreement with its lenders to unlock aid, keeping alive fears of a debt default and possibile exit from the euro zone.Athens and its euro zone and International Monetary Fund (IMF) creditors have been locked in talks for months, with the single currency often reacting to signs of deadlock or breakthrough.Greece faces a payment to the International Monetary ...


Index Closing Chg%
Arrow DJIA 17,689.86 0.03
Arrow Nasdaq 5,128.28 0.01
Arrow S&P 2,103.84 0.23
Arrow FTSE 6,696.28 0.41
Arrow DAX 11,308.99 0.46
Arrow CAC-40 5,082.61 0.72
Arrow Nikkei 20,585.24 0.30
Arrow H.Seng 24,636.28 0.56
Arrow Sensex 28,114.56 1.48

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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