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Turkish lira set for strongest week in 3-1/2 years as election fears fade ISTANBUL: The Turkish lira rallied further on Thursday, putting it on track for its strongest week in 3-1/2 years as investors bet June elections will see the AK Party retain control of government, but without enough seats to change the constitution.The lira has fallen more than 10 percent this year, hurt by the resurgent dollar and by deep concerns about the election outcome and political meddling in monetary policy. It has underperformed most other major emerging market currencies including the South African rand.Moody's has warned that the currency's slide is so severe it could hit bank credit profiles, pushing up the cost of servicing foreign-currency loans.But the currency has won a reprieve this week as some recent polls suggest the ruling party may win the 276 seats needed to form a single-party government but fall well short of the 367 seats needed to change the constitution and usher in a ...

Euro jumps past $1.14 as US economic worries grow LONDON: The dollar fell on Thursday to its weakest against a basket of major currencies since the European Central Bank announced a programme of quantitative easing in January, hit by growing concern that the U.S. economy has not just been suffering from a winter chill.The euro surged past $1.14 for the first time since February in early trade in Europe. Sterling, resurgent since UK elections last week, hit a six-month high of $1.5815.Traders said a ...
Russian rouble hits highest since November as dollar slips, oil supports MOSCOW: The Russian rouble strengthened on Wednesday, extending gains from the previous day and hitting its highest since late November, as oil prices rose, the dollar weakened on global markets and the end-of-month tax period approached. At 1425 GMT, the rouble was around 1.5 percent stronger against the dollar at 49.22 and had gained 0.3 percent to 55.82 versus the euro. Brent crude oil was trading around 0.8 percent higher at around $67.4 a barrel. ...
Sterling races to 5-month high on robust UK data, awaits BoE report LONDON: Sterling hit a five-month high on Tuesday, rising past $1.57 against the dollar after better-than-expected industrial output data bolstered the view that the British economy is outpacing many of its developed world peers.Industrial output rose 0.5 percent in March -- the strongest growth since September and above economists' forecasts of no change -- after inching up 0.1 percent in February, the Office for National Statistics said. That led to talk that first-quarter growth data ...
Sterling holds post-election gains as focus shifts to data, BoE LONDON: Sterling hovered near two-month highs against the dollar on Monday, buoyed by an election that produced a Conservative majority, with the focus turning to economic data and when the Bank of England might hint when it will lift interest rates. BoE's monetary policy committee kept rates steady as expected on Monday at the record low of 0.5 percent.It issued no statement but Governor Mark Carney is due to give a quarterly update on forecasts ...
Swiss franc hits 2-week high after SNB reserves data LONDON: The Swiss franc hit a two-week high against the euro on Thursday after data showed Switzerland's foreign exchange reserves fell in April, suggesting it may have held off on buying significant amounts of euros to weaken the Swiss franc. The Swiss National Bank held 521.888 billion Swiss francs in foreign currency at the end of April, preliminary data from the International Monetary Fund showed, slightly lower than the 522.399 billion recorded in March. The ...
Sterling hits 3-month low vs euro as traders eye British election LONDON: Sterling shed one percent against a broadly stronger euro on Wednesday, hitting a three-month low just a day before Britons vote in the most closely fought national election in a generation.The pound has skidded around 4 percent in the past week against the euro, with dealers reporting many in the market finally opting to run short of the currency -- effectively betting it will fall -- ahead of Thursday's vote.The euro has also been ...

 



 
Index Closing Chg%
Arrow DJIA 17,730.11 0.16
Arrow Nasdaq 5,009.22 0.08
Arrow S&P 2,076.78 0.03
Arrow FTSE 6,630.47 0.33
Arrow DAX 11,099.35 0.73
Arrow CAC-40 4,835.56 0.98
Arrow Nikkei 20,522.50 0.95
Arrow H.Seng 26,282.32 0.12
Arrow Sensex 27,945.80 0.27





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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln