Moody’s Investors Service has maintained its stable outlook on the Saudi Arabian banking system, reflecting the rating agency’s expectation that in the context of persistently low oil prices, banks’ profitability and capital buffers will remain resilient and underpin their solid credit profiles. “Countercyclical government spending will continue to support the non-oil sectors, to which most
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By Lukman Otunuga, Research Analyst, FXTM The EURUSD has surrendered its gains from Thursday after the euro bears were provided with encouragement following Mario Draghi repeating his dovish view on the Eurozone economy during his conference in Frankfurt. www.ForexTime.com FXTM is an international forex broker regulated by the Cyprus Securities and Exchange Commission (CySEC), and
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The number of lives lost to terrorism increased by 80% in 2014, reaching the highest level ever recorded at 32,658. This compares to 18,111 in 2013, according to the third edition of the Global Terrorism Index (GTI) released this week, the largest yearly increase in deaths ever recorded. The report also highlights the dramatic rise
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By Lukman Otunuga, Research Analyst, FXTM The increased confidence investors acquired from the FOMC minutes regarding the high possibility of a US rate rise in December has led to investors unwinding their Dollar positions. While the unwinding of the USD may continue to encourage others to loosen USD positions, the fundamental case for USD strength
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By Lukman Otunuga, Research Analyst, FXTM The Dollar acquired some stability following a firm US CPI of 0.2% in October which supported the growing expectations that the Federal Reserve may raise rates in December. November data from the US has illustrated employment picking up, and now with inflation on the route to recovery this may
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* Outlook stable, as bank rating upgrades could follow * Moody’s Investors Service upgraded Cyprus’ government bond rating by two notches to B1 from B3 on Friday, maintaining a ‘stable’ outlook, with the short-term rating affirmed at Not-Prime (NP). As is common in such cases, a Moody’s upgrade of the long-term ratings of the three
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Cyprus seems to be doing well as regards the implementation of of the economic reform programme, but still needs to overcome three major hurdles in order to secure the next tranche of financial aid from the Troika of international lenders. Auditors from the Troika of international lenders (EC, ECB, IMF) issued their report after concluding
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The total assets of the Cyprus investment funds (CIFs) have decreased by 2% to EUR 2.908 bln in September, compared with EUR 2.963 bln in June, according to the investment funds quarterly statistics released by the Central Bank of Cyprus. This is due to the decrease of the number of reporting entities, following the revocation
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* Cyprus-Germany have “almost identical policies” at Foreign Affairs Councils * Foreign Minister Ioannis Kasoulides and his German counterpart, Dr Frank-Walter Steinmeier, on a working visit to the island, said that both countries have almost identical policies during their monthly Foreign Affairs Councils (FAC) meetings, especially on the situation in Syria and Libya, the Middle
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. By Oren Laurent President, Banc De Binary Current global conditions have created an atmosphere conducive to a Fed rate hike in December. However, the vice-chairman of the Federal Reserve Bank, Stanley Fischer, has indicated that various pressures are being brought to bear on the economy including global economic weakness and a strong USD. Regardless,
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