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Brazil lifts key rate to 11.25pc RIO DE JANEIRO: Brazil's central bank on Wednesday raised its key interest rate by 25 basis points to 11.25 percent -- the first hike since April -- in the wake of leftist Dilma Rousseff's re-election as president.Analysts had predicted the bank would leave the main Selic rate on hold at 11 percent.But with Brazil fighting inflationary pressures, the rates committee elected to send out a signal given what it termed a "less favorable risk balance for inflation."In the light of this, the committee considers it opportune to adjust monetary conditions" in order to facilitate a "more benign scenario for inflation in 2015 to 2016," the bank said in a statement.Last month, inflation moved a quarter point above a government target ceiling of 6.5 percent, but the market predicts it will end the year back down at 6.45 percent.On Tuesday, the bank's weekly survey of 100 market watchers had indicated they ...

Tropical Depression Hanna soaks Nicaragua, Honduras MANAGUA: Tropical Depression Hanna on Monday lashed northeastern Nicaragua and eastern Honduras, unleashing heavy rains that US forecasters warned could cause deadly flash-flooding. Though slightly weaker and downgraded from tropical storm status, Hanna still could drench much of Honduras and northern Nicaragua with up to 15 inches (38 centimeters) of rain, according to the Miami-based National Hurricane Center."These rainfall amounts will produce life-threatening flash floods and mudslides," the NHC cautioned at 0001 GMT Tuesday.Hanna, with ...
Rousseff faces battle to govern divided Brazil BRASoLIA: Brazil's newly re-elected President Dilma Rousseff faces huge challenges to govern the sprawling South American country after winning a deeply divisive race by a narrow margin, analysts said.The leftist incumbent beat business favorite Aecio Neves 51.6 percent to 48.4 percent in a hard-fought run-off Sunday, leaving her with a fragile mandate to reboot the recession-hit economy and answer voters' frustrations over corruption and weak public services.Political analyst Andre Cesar summed up the laundry list ...
Runner-up urges unity after bruising Brazil election BELO HORIZONTE: Aecio Neves, the center-right challenger who suffered a narrow election defeat Sunday to Brazilian President Dilma Rousseff, said he had called to congratulate her and urge unity after a divisive campaign."I congratulated the president just now on the phone and I wished her success for her second term," Neves told disappointed supporters in an address in Belo Horizonte, where he served two terms as governor of Minas Gerais state."I told her the priority ...
Rousseff narrowly wins Brazil re-election RIO DE JANEIRO: Brazilians narrowly voted leftist President Dilma Rousseff back into office Sunday for a second term after a bitter election campaign that split Latin America's biggest economy largely between the poor north and richer south.Rousseff, Brazil's first woman president, went into the run-off as slight favorite -- despite overseeing economic recession -- and defeated center-right challenger Aecio Neves by three million ballots for a vote share of 51.6 percent after 99 percent of ...
Neymar backing Brazil challenger Neves in election run-off SAO PAULO: Brazilian football idol Neymar on Thursday voiced support for presidential challenger Aecio Neves, just three days before this weekend's election run-off.Neymar, the hugely popular captain of Brazil's national team, said he was backing Neves over leftist incumbent Dilma Rousseff because he believed the center-right challenger was the best option for Brazil."I will support the candidate (Neves) because I identify with his proposals for Brazil," the 22-year-old multi-millionaire Barcelona star said in a video ...
Mexico mayor accused of ordering attack on missing students MEXICO CITY: Mexico on Wednesday ordered the arrest of the mayor of the city of Iguala, his wife and an aide, charging they masterminded last month's attack that left six students dead and 43 missing. Carrying torches and candles, tens of thousands of people marched through Mexico City and other cities to protest the disappearance of the students."We shall overcome," protesters shouted with clenched fists in the air. Marching were students, teachers, farmers and activists ...

 



 
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Banking Review 2013


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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