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US economy tepid in early Q2, but jobs market resilient WASHINGTON: The US economy was on a modest growth path early in the second quarter with home resales falling in April and manufacturing activity on the backfoot in May, although the labor market continued to tighten. Growth is struggling to rebound strongly after slumping at the start of the year, weighed down by bad weather, a strong dollar, port disruptions and deep energy spending cuts. The sturdy labor market keeps the Federal Reserve on track to raise interest rates later this year. Minutes of the US central bank's April meeting released on Wednesday showed most policymakers saw little chance of a June rate hike because of the anemic pace of the rebound in growth so far. "The labor market is doing well and continues to tighten. Still, the economy got off to a slow start this quarter. It seems it hasn't found a rhythm after the poor first three months ...

Stocks rise as investors look past mixed data; oil jumps NEW YORK: Equity markets inched ahead on Thursday, with investors brushing aside mixed economic data in Europe and the United States, while the dollar slipped after a three-day rally and US Treasury yields declined.Oil prices rallied almost 3 percent, with Brent crude topping $66 a barrel on signs a global supply glut may be starting to ease.Wall Street's benchmark S&P 500 index, which has posted a string of highs recently, was near a new record ...

ECB's Draghi says growth is too low everywhere SINTRA: Economic conditions in Europe have improved recently but growth remains too low, as does inflation in some countries, the president of the European Central Bank said on Thursday. "Recently, economic conditions have improved somewhat in Europe but growth is too low everywhere," Mario Draghi told an audience of central bankers and academics at an ECB event in Portugal. He said that "inflation is too low" in some countries. Copyright Reuters, 2015

Oil gains over 2pc on inventory draws, Iraq fighting NEW YORK: Oil prices jumped more than 2 percent on Thursday, giving Brent its biggest rally in more than a week, as draws reported in the Cushing delivery point for US crude futures boosted optimism that a supply glut was easing. Fighting in Iraq that raised worries about the security of Middle East oil shipments also boosted the market.The dollar's retreat took some pressure off crude prices as well. The greenback snapped a broad three-day ...

Russia's Lavrov discusses Syria and Yemen with Kerry MOSCOW: Russian Foreign Minister Sergei Lavrov discussed the situation in Syria and Yemen as well as Ukraine with US Secretary of State John Kerry on Thursday, the Russian Foreign Ministry said in a statement. The phone call was the latest in a string of high-level contacts between Moscow and Washington in recent days over the crises in the Middle East as well as Ukraine, a conflict that has dragged ties between the Cold War-era foes ...

Spain confident of Greek debt deal 'within coming days' MADRID: Spanish Economy Minister Luis de Guindos said Thursday he expects Greece will reach an agreement with its bailout creditors in the "coming days" which would save the cash-strapped country from default."The central scenario we are working with is that a deal will be reached," he told reporters in the northern city of Santander when asked about the talks between Greece and its EU-IMF creditors. De Guindos, one of the frontrunners to take over the ...


Index Closing Chg%
Arrow DJIA 18,285.74 0.01
Arrow Nasdaq 5,090.79 0.38
Arrow S&P 2,130.82 0.23
Arrow FTSE 7,013.47 0.09
Arrow DAX 11,864.59 0.14
Arrow CAC-40 5,146.70 0.26
Arrow Nikkei 20,202.87 0.03
Arrow H.Seng 27,523.72 0.22
Arrow Sensex 27,809.35 0.10

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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 $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln