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  • BEIJING, Feb 28- China's central bank cut interest rates on Saturday, just days before the annual meeting of the country's parliament, in the latest effort to support the world's second-largest economy as its momentum slows and deflation risks rise. "The focus of the interest rate cut is to keep real interest rate levels suitable for fundamental trends in...

  • China's central bank cuts rates again to boost economy Saturday, 28 Feb 2015 | 5:46 AM ET

    BEIJING— China's central bank cut interest rates for the second time in three months Saturday, adding to signs the country's leaders are worried the economic slowdown is deepening too sharply. The People's Bank of China announced a rate cut on one-year loans by commercial banks by 0.25 percentage point to 5.35 percent. Last year, China's economic growth fell to...

  • BEIJING, Feb 28- China's central bank said on Saturday it would cut benchmark interest rates by 25 basis points to 5.35 percent. The People's Bank of China said it would further liberalise interest rates and lift the ceiling for the floating range for the saving rate to 1.3 times the benchmark rate. The central bank said it would cut the benchmark saving rate by 25...

  • WASHINGTON— Federal Reserve Chair Janet Yellen met Friday with a group of conservative activists who are unhappy with the way the central bank is conducting its interest-rate policies. Yellen rejected the GOP criticism as unfounded. Representatives of the Heritage Foundation and Cato Institute also participated in the meeting.

  • NEW YORK/ WASHINGTON, Feb 27- Puerto Rico's Doral Bank has failed and a local rival will take over its operations, authorities said on Friday after accidentally releasing the information early and sending shares down 46 percent before trading was halted. The FDIC announced on Friday that the bank had been closed and its banking operations and deposits will be...

  • Shares of the bank plunged 46.3 percent and were then halted on Friday, after the FDIC recalled a press release announcing that the bank was closed. The FDIC said the press release, announcing that it had been appointed as receiver to the bank, had been sent in error. Doral was closed by the Office of the Commissioner of Financial Institutions of Puerto Rico, which...

  • WASHINGTON, Feb 27- The U.S. Federal Deposit Insurance Corporation said on Friday Puerto Rico-based bank Doral Financial Corp was closed, and its business taken over by Banco Popular de Puerto Rico.

  • The FDIC, which is overseeing the shutdown and shift of operations, said Banco Popular will take over eight of Doral's 26 former branches and work with three other banks to operate the other 18 locations on the island. Banco Popular North America will operate Doral's three branches in New York City and Centennial Bank will take over its five branches in Florida.

  • NEW YORK, Feb 27- Shares of San-Juan, Puerto Rico- based lender Doral Financial Corp plunged 46.3 percent and were then halted on Friday, following a U.S. Federal Deposit Insurance Corp recall of a press release announcing that the bank was closed. The FDIC said the press release, announcing that it had been appointed as receiver to the bank, had been sent in error.

  • NEW YORK, Feb 27- Raising interest rates too late is safer than acting too early, an influential Federal Reserve official said on Friday, endorsing a high-profile research paper that argues that the U.S. economy, given time, can rebound to normal growth. The paper by four top U.S. economists, presented on Friday to a roomful of powerful central bankers in New York,...

  • NEW YORK, Feb 27- The dollar index dipped on Friday on month-end selling but remained on track for a record eighth month of gains on improving U.S. data and comments from Federal Reserve officials that bolstered bets for a interest rate rise later this year. "The trend is still in place to support the dollar," said Eric Viloria, currency strategist at Wells Fargo...

  • LONDON, Feb 27- Global investors increased their bets on stocks during February as major equity markets broke through all-time highs, fuelled by the promise of more monetary stimulus, Reuters' monthly asset allocation poll showed. As around 20 central banks have cut interest rates since the start of 2015, and with the European Central Bank set to launch...

  • NAIROBI, Feb 27- In a world where many central bankers fret about deflation, defaults and currency break-ups, Somalia's central bank chief has a more straightforward mission: helping a financial industry that grew up in war to survive in peace. Money transfer firms which kept cash flowing into Somalia during two decades of conflict when the nation's formal...

  • LONDON, Feb 27- For all the record inflows pouring into euro zone stock markets as the European Central Bank readies its bond-buying plan, there is still some way to go for economic powerhouse Germany to break its own stock-market records. Banking-sector stocks such as Deutsche Bank and Commerzbank are down a whopping 70 to 90 percent from their pre-crisis...

  • *Dollar index eases from previous day's 1- month high. Jan CPI, durables goods data raise rate-hike bets. LONDON, Feb 27- The dollar index fell on Friday amid month-end selling but was still on track for a record eighth month of gains on better data and comments from Federal Reserve officials that bolstered bets for a rate rise later this year.

  • LONDON, Feb 25- A portfolio manger at PIMCO, the world's biggest bond investor, said on Wednesday fewer banks would be available to execute deals for asset managers in two years times, as regulation reduces the trading capabilities of many market makers. A lot of highly professional and experienced traders are being let go, "said Alex Struc, an executive vice...

  • ISTANBUL, Feb 27- The Turkish lira tumbled to a fresh record low on Friday as investors worried about the future of Central Bank Governor Erdem Basci after President Tayyip Erdogan's blistering criticism of the bank. Market attention was focused on whether Erdogan would keep up the pressure or seek to lower tension when he speaks at a lunch he is hosting for...

  • LONDON— London- based Lloyds Banking Group passed a milestone Friday in its recovery from the financial crisis, reporting an annual profit and announcing plans to pay a dividend for the first time since it was rescued by British taxpayers. "This is a symbolic development that bears testament to our successful transformation and improved risk profile of the...

  • *Dollar index eases from previous day's 1- month high. LONDON, Feb 27- The dollar index slipped on Friday, pegged back by month-end selling, but was still on track for its eighth straight month of gains on better data and comments from Federal Reserve officials that bolstered bets for a rate rise this year. The index had rallied 1.1 percent on Thursday, bringing it...

  • MOSCOW, Feb 27- Austria's Raiffeisenbank will close its branches in Russia's far east to improve efficiency after they generated little income and had few opportunities for growth, a move which shows the impact of Russia's economic crisis on the sector. Banks are suffering from higher bad loan provisions and lower profits because of the crisis, deepened by...

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