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Shares rally, yen slumps as BoJ ramps up stimulus NEW YORK: Global equity markets rallied and the yen fell to a nearly seven-year low against the dollar on Friday after the Bank of Japan surprised financial markets by ramping up its massive stimulus program.The unexpected jolt from the BOJ put the dollar on track for its biggest daily gain against the yen in 18 months, while driving gold and silver to their lowest since 2010.The stronger dollar also pushed Brent crude toward its steepest monthly decline since 2012 as the oil benchmark fell below $85 a barrel.Equity markets surged as the BOJ decision to buy more assets helped ease concerns about the end of the US Federal Reserve's own stimulus program and the European Central Bank's reluctance to date to engage in large-scale bond-buying.The BOJ's board voted 5-4 to accelerate its buying of government bonds, while tripling its purchases of exchange-traded funds and real-estate investment trusts.Also, Japan's $1.2 trillion ...


Asia-focused ANZ reports record profit of $6.5bn SYDNEY: The Australia and New Zealand Banking Group (ANZ) on Friday posted record annual net profit of Aus$7.3 billion (US$6.5 billion) -- up 15 percent -- pursuing an Asia-focused growth strategy.Cash profit, which strips out non-core items and is favoured by analysts, was up 10 percent to Aus$7.10 billion on last year.The results for ANZ, one of Australia's four major banks, were roughly in line with guidance and boosted by a 17 percent cut to ...

US consumer spending falls as income growth stalls WASHINGTON: US consumer spending fell in September after a surge in August as personal income growth slowed to a crawl, the Commerce Department reported Friday.Consumer spending, which accounts for the bulk of US economic activity, fell 0.2 percent in September after a 0.5 percent rise in August.It was the first decline in spending this year since January, when consumer outlays also fell 0.2 percent amid harsh winter weather.Personal income increased only 0.2 percent from the ...

EU says Burkina Faso people must decide own future BRUSSELS: The EU called Friday for the people of Burkina Faso to have the final say in who governs the west African country, as President Blaise Compaore stepped down after mass protests.The 28-nation bloc said it was ready to help with elections, which Compaore said in his resignation statement should be held within 90 days."The European Union believes that it is up to the people of Burkina Faso to decide their own future. Any solution ...

Dow, S&P surge into record territory after Japan stimulus NEW YORK: The Dow and S&P 500 surged into fresh record territory in opening trade Friday after the Bank of Japan's surprise stimulus move lifted global equity markets.About 20 minutes into trade, the Dow Jones Industrial Average stood at 17,321.10, up 125.68 points (0.73 percent). The S&P 500 rose 14.53 (0.73 percent) to 2,009.18, while the tech-rich Nasdaq Composite Index was up 55.77 (1.22 percent) to 4,621.91.The Dow rushed past 17,355 to a new intraday ...

NATO warns Russia over Ukraine rebel polls BRUSSELS: NATO chief Jens Stoltenberg warned Russia on Friday against recognising elections staged by pro-Kremlin rebels in eastern Ukraine, saying Moscow continues to destabilise the country instead of backing peace efforts."Statements by Russian officials that Russia would recognise these so-called 'elections' show that Russia continues its efforts to destabilise Ukraine," Stoltenberg said in a statement."NATO allies, as part of the broad international community, have made clear they will not recognise so-called separatist elections."Stoltenberg, the former ...


 



 
Index Closing Chg%
Arrow DJIA 17,390.52 1.13
Arrow Nasdaq 4,630.74 1.41
Arrow S&P 2,018.05 1.17
Arrow FTSE 6,546.47 1.28
Arrow DAX 9,326.87 2.33
Arrow CAC-40 4,233.09 2.22
Arrow Nikkei 16,413.76 4.83
Arrow H.Seng 23,998.06 1.25
Arrow Sensex 27,865.83 1.90





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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln