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Rouble crashes to new low as EM stocks suffer LONDON: Russia's rouble crashed to an all-time low on Friday and emerging market stocks headed for a steep weekly fall, as worries about slow growth, falling commodities prices and Ukraine all soured sentiment. The rouble plunged another 3 percent to put it on course for an eye-watering 10 percent weekly drop after Russian President Vladimir Putin held talks with his top security chiefs on Thursday over a "deterioration of the situation" in Ukraine. A source told Reuters that Russia's central bank Governor Elvira Nabiullina was holding a meeting, but markets were questioning what could be done to halt the slide. Having hiked interest rates dramatically last week and burning through almost $75 billion in reserves this year, the bank effectively abandoned formal currency market intervention this week and worries are growing about the psychological impact on both investors and normal Russians. Russian bonds fell broadly across the curve with the ...

UK readies for FX settlement with 6 banks on Wednesday LONDON: British regulators could fine a group of six bank for systems and controls failings in their foreign exchange operations as early as next Wednesday, people familiar with the matter said.Three sources said the Financial Conduct Authority (FCA) was working to release the coordinated settlement with the banks on Wednesday, although they said that timetable could slip if problems emerge with details.The six banks are Switzerland's UBS, US banks JPMorgan and Citigroup and Britain's HSBC ...
Ukraine's currency reserves fall 23pc to $12.6bn in October: central bank KIEV: Ukraine's central bank said on Friday foreign currency reserves had fallen by almost a quarter month-on-month to $12.6 billion in October after the bank helped state energy firm Naftogaz service its multi-billion dollar debt."The dynamics (of the fall) were influenced by the need to support Naftogaz (with) almost $2 billion ... and also by making payments for natural gas supplies from European suppliers," the bank said in a statement.On Monday the bank also said ...
Sterling slips before BoE and ECB rate decisions LONDON: Sterling struggled on Thursday on more evidence that the housing market was cooling, and got little support from a rebound in industrial activity with much of the focus on the Bank of England and European Central Bank rate decisions.The BOE's monetary policy committee concludes a two-day meeting and is widely expected to keep interest rates unchanged at a record low of 0.5 percent.Earlier this year there was widespread speculation that the BoE would be ...
Rouble crashes to new low, lags stable emerging markets LONDON: The rouble crashed to new record lows on Thursday after the central bank stepped back from its daily multi-billion dollar currency interventions, with Russian assets generally bucking a more stable emerging markets trend.The central bank announced on Wednesday that it would limit daily interventions to $350 million, a fraction of the amounts it has been selling for many weeks to support the rouble, a decision investors have interpreted as an effective move to a ...
Dollar steadies near seven-year high vs yen; eyes on ECB LONDON: The dollar steadied after hitting a seven-year high against the yen on Thursday as traders sold into a steep rally ahead of a European Central Bank meeting later in the session and US nonfarm payrolls data on Friday. The euro stayed near a two-year trough against the greenback as investors awaited the ECB's decision and its president Mario Draghi's press conference at 13.30 GMT. Draghi is likely to be quizzed about a Reuters report ...
Rouble slides further after central bank policy shift MOSCOW: The rouble sank further on Thursday, hitting another all-time low against the dollar, a day after the central bank softened its stance on defending the currency following heavy forex market interventions in October. At 0855 GMT, the rouble was 0.89 percent weaker against the dollar at 45.35 and lost 1.14 percent to trade at 56.71 versus the euro.That left the Russian currency 1.02 percent weaker at 50.47 against a dollar-euro basket. Central bank data ...

 



 
Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95






Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln