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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 two-year low earlier in the European session, recovered to trade at 126.77 yen, broadly flat on the day.Koichi Hamada, an emeritus professor of economics at Yale University, also told Reuters that "120 yen per dollar is acceptable."He was quoted on Monday as saying a 105 yen rate was acceptable, but sought on Tuesday to clarify that he had been referring to the purchasing power parity-implied rate, which is around 101 yen, not the spot market ...

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 ...
Russian rouble extends rally on Friday MOSCOW: The Russian rouble opened up against the dollar and euro on Friday, continuing a week-long rally.At 0708 GMT the rouble was up 0.7 percent against the dollar at 51.48 and 1.1 percent stronger at 54.75 against the euro. Copyright Reuters, 2015 ...
Sterling up 1pc on M&A talk, options market busy as election looms LONDON: Sterling rose on Wednesday on talk that foreign bids for two major British firms would bolster demand for the pound, while activity in the options market showed investors were busy hedging against sharp swings before a May general election.Royal Dutch Shell's deal to buy BG Group for 47 billion pounds and French media conglomerate Vivendi's possible purchase of pay-TV group Sky drew bets that they would need sterling to fund the acquisitions.Sky has a ...
Russian rouble extends gains to new 2015 highs MOSCOW: The Russian rouble extended gains on Wednesday, setting new 2015 highs against the dollar and the euro on the back of this week's rally in international oil prices.At 0740 GMT, the rouble was 1.5 percent stronger against the dollar at 54.22, having earlier hit a 2015 high of 54.17, the strongest since Dec. 26.The rouble also gained 1 percent to 58.94 versus the euro, having fallen below 58 roubles per euro for the first ...


Index Closing Chg%
Arrow DJIA 18,010.68 0.64
Arrow Nasdaq 5,070.03 0.55
Arrow S&P 2,107.39 0.63
Arrow FTSE 6,984.43 0.80
Arrow DAX 11,413.82 2.26
Arrow CAC-40 5,007.89 2.53
Arrow Nikkei 20,563.15 0.06
Arrow H.Seng 27,424.19 0.11
Arrow Sensex 27,828.44 1.17

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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 $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln