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Turkish lira slumps to new low as central bank under pressure ISTANBUL: Turkish lira hit a new record low for a third consecutive day on Thursday as the government stepped up pressure on the central bank to lower interest rates, damaging investor confidence. The lira peaked at 2.6095 against the dollar at Thursday's close, breaking through the psychological barrier of 2.6. The currency has lost three percent in value over the past week alone as the government has renewed pressure on the nominally-independent central bank to cut interest rates to support growth. Since mid-January the lira has dropped more than 11 percent in value against the greenback. The main Istanbul stock index ended the day down 1.57 percent at 80,779.58, falling to its lowest level in 11 weeks."The intensifying political pressures on the central bank is seemingly the main reason behind the poor performance of the lira," economist Gokce Celik of Istanbul-based Finansbank said in a note to clients.With parliamentary elections ...

Euro hits 11-year low, stocks climb after ECB LONDON: The euro slumped to an 11-year-low against the dollar and stocks finished up on Thursday after the European Central Bank said it will begin a 1.1-trillion-euro bond buying programme next week.The euro sank to $1.0988 -- Its weakest level since September 2003 -- after trading at $1.1080 late in New York on Wednesday.The euro's further tumble came after ECB chief Mario Draghi said the bank will start buying government debt in its new quantitative ...
Rouble at multi-month highs on oil, ECB, comments by Russian official MOSCOW: The rouble firmed to multi-month highs on Thursday, supported by higher oil prices and comments by a senior Russian official who said the rouble remained undervalued. The European Central Bank's decision to start a bond-buying programme that could potentially affect flows of funds into emerging markets such as Russia, also helped. At 1407 GMT, the rouble was around 1.5 percent stronger at 60.96 against the dollar, near its highest since early January. It had ...
Currencies firm, bonds ease after Poland rates signal BUDAPEST: Central European currencies firmed and government bonds eased on Thursday after the Polish central bank cut interest rates the previous day by twice as much as expected but also said its rate easing was over.The bank's 50 basis point cut in its main rate to 1.5 percent is expected to herald further rate easing in Hungary and Romania as inflation is around zero in most of the region and central banks want to stimulate ...
Turkish lira hits record low of 2.6 against dollar ISTANBUL: The Turkish lira weakened to a fresh record low of 2.6 against the dollar on Thursday as concerns about President Tayyip Erdogan's battle with the central bank and the future of the government's economic team undermined sentiment. After touching an all-time low of 2.6002, the lira edged back to 2.5972 against the US currency by 1120 GMT, bringing its losses so far this year to more than 10 percent. Copyright Reuters, 2015 ...
Croatia PM speaks out to quash kuna devaluation proposals ZAGREB: Croatia should never consider devaluing the national kuna currency as such a move would hurt citizens and companies without improving business competitiveness, Prime Minister Zoran Milanovic said on Thursday.German consultants for the biggest opposition party, the conservative HDZ, presented broad outlines of a reform plan in Zagreb this week and mentioned kuna devaluation as a possible measure.This revived an old debate about whether the kuna, introduced two years after Croatia became independent in 1991, ...
Russian rouble strengthens on steady oil, eyes on ECB MOSCOW: The Russian rouble strengthened on Thursday morning, as the oil price held above $60 per barrel and investors awaited details of a European Central Bank bond-buying programme.At 0800 GMT, the rouble was around 0.3 percent stronger at 61.77 against the dollar and had gained 0.6 percent to 68.28 versus the euro.Brent oil prices remained above $60 per barrel at around $60.4. "This level of oil is quite comfortable for the rouble," VTB Capital analysts ...


Index Closing Chg%
Arrow DJIA 17,678.23 0.23
Arrow Nasdaq 4,863.36 0.27
Arrow S&P 2,056.15 0.24
Arrow FTSE 6,895.33 1.37
Arrow DAX 11,843.66 0.18
Arrow CAC-40 5,006.35 0.29
Arrow Nikkei 19,471.12 1.39
Arrow H.Seng 24,497.08 0.13
Arrow Sensex 27,457.58 2.33

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln