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German seven-year bond yields fall below zero for first time LONDON: The German government's cost of borrowing over seven years fell below zero for the first time on Thursday, secondary market trading data collected by Reuters showed.Seven-year yields dipped around 2 basis points to a new record low of -0.003 percent.Germany sold its first five-year debt with negative yields on Wednesday.Copyright Reuters, 2015 ...

Sterling steadies after hitting 8-week high LONDON: Sterling steadied after hitting an eight-week high against the dollar on Wednesday, buoyed by optimism over the UK's economic performance compared with its peers in Europe, which has helped drive British shares to record levels.Although the pound has been weak against a broadly stronger dollar since last July, it has gained steadily against the European currencies in which it does most of its trade.In the past month it has also climbed 3 percent against ...
Dollar weakens as Yellen indicates no rush to raise rates LONDON: The dollar fell against a basket of currencies on Wednesday after Federal Reserve Chair Janet Yellen suggested the central bank would not rush into raising US interest rates. The drop in the dollar mirrored a pullback in US front-end yields from recent highs, as Yellen's testimony to Congress disappointed investors who had positioned themselves for a clearer signal on when rates would rise. Yellen declined to provide much insight into when the word "patient" ...
Yuan reserves set to rise by $500 billion over 5 years LONDON: More than 60 central banks hold China's yuan in their currency reserves and the amount held there and in sovereign wealth funds should grow by $500 billion over the next five years, China-focused bankers said on Wednesday. Speaking at an Association for Financial Markets in Europe conference in London, Massimiliano Castelli, UBS Asset Management's head of strategy for sovereign markets, said data and discussions with clients suggested the yuan made up around 0.1-0.3 percent ...
Turkish lira falls on Erdogan's criticism of central bank ISTANBUL: The Turkish lira fell on Wednesday after President Tayyip Erdogan criticised the central bank's interest rate policy and said it was not suitable for Turkey's economy. The lira weakened to 2.475, a low for the day, from 2.467 at 1400 GMT, making it one of the worst-performing currencies among emerging markets, after Erdogan said the quarter-point interest-rate reduction did not go far enough. Copyright Reuters, 2015 ...
Ukraine central bank defends currency trading ban KIEV: Ukraine's central bank defended its decision on Wednesday to ban most foreign currency trading for the rest of the week, after sharp criticism of the move by Prime Minister Arseny Yatseniuk.The bank's website updated the announcement of the move to add a justification, saying the decision was taken to "maintain the stability of the currency market and limit unfounded demand for foreign currency on the part of bank clients, which is causing a lack ...
Sterling dips against dollar after Yellen's comments LONDON: Sterling fell from a more than six-year high against a currency basket on Tuesday, dragged down by losses against the dollar, after Federal Reserve chair Janet Yellen seemed to lay the ground for an interest rate hike in coming months.The dollar rose after Yellen told a congressional committee that the Fed is preparing to consider rate hikes "on a meeting-by-meeting basis". That represented a subtle change of emphasis in how the Fed has been ...


Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
Arrow CAC-40 4,951.48 0.83
Arrow Nikkei 18,797.94 0.06
Arrow H.Seng 24,823.29 0.32
Arrow Sensex 29,220.12 1.65

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln