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Canon Q1 profit down nearly 29pc on falling camera demand TOKYO: Japanese camera and office equipment maker Canon said Monday its profits fell nearly 29pc in the three months to March, due to reduced demand for cameras.The company said net profit dropped to 33.9 billion yen ($284 million) for the January-March period, while operating profit fell 19.9 percent to 66.2 billion yen, on sales of 857.4 billion yen, down 1.3 percent.It said slower camera sales and an increase in the cost of research led to the decline in profit, although the firm saw steady demand for laser printers and copy machines."During the first quarter, MFDs (multifunction copier/printers) and laser printers enjoyed steady growth that has continued from the previous year," the company said in a statement."Despite solid growth in the US market, interchangeable-lens digital cameras continued to face severe conditions in other regions while sales volume for digital compact cameras decreased in all regions compared with the same period of ...

Deutsche Bank cuts Postbank loose in new restructuring FRANKFURT: Deutsche Bank, Germany's biggest lender, unveiled Monday details of a huge strategic shake-up in which it will rid itself of its Postbank unit and massively curb costs. Ending months of feverish speculation, Deutsche Bank finally lifted the veil on its blue-print for the future, bringing down annual costs by 3.5 billion euros ($3.8 billion) by 2020 and confronting the challenges of increased financial sector regulation and current low interest rates. The plans entailed the ...

Canon Q1 profit falls 29 pct as compact camera sales slump TOKYO: Canon Inc on Monday said net profit fell 28.7 percent in its first quarter, falling short of analyst estimates, as the Japanese company faced slumping sales of digital compact cameras.Profit was 33.93 billion yen ($285.27 million) in January-March, compared with the 53.64 billion yen average estimate of 5 analysts according to Thomson Reuters data.The result comes as the world's biggest camera maker seeks growth opportunities, in part to offset a drop in demand for ...

Deutsche Bank considers alternatives to Postbank IPO; CFO FRANKFURT: Deutsche Bank will consider alternatives to an initial public offering when divesting its retail Postbank business, Chief Financial Officer Stefan Krause said."It's the basis of our thinking right now to follow the IPO route," he said during a conference call with analysts to discuss the bank's strategic revamp."We don't rule out any alternative," he added.An IPO is seen as the safer path and potential proceeds are not the main driver for an exit of ...

Deutsche Bank Q1 profit falls by half as legal charges bite FRANKFURT: Deutsche Bank saw net profit fall by half to 559 million euros ($608.1 million) in the first quarter versus a year ago as hefty legal charges eroded gains from a 24 percent rise in revenue to a near record of 10.4 billion euros. The group's investment bank saw revenue increase but its pre-tax contribution to the group's bottom line fall by more than half to 643 million euros due to rising non-interest expenses. A ...

Philippines says China challenged plane over disputed waters MANILA: Chinese vessels challenged a Philippine military plane on patrol over disputed waters in the South China Sea, the military said Sunday as tensions rise between the neighbours.The Islander plane was flying over Subi Reef on April 19 when a Chinese vessel radioed a warning, said military spokesman Brigadier General Joselito Kakilala.The Chinese told the plane it was in Chinese territory and ordered it to leave, Kakilala said. "But our pilots ignored the challenge because ...

Turkish Airlines plane makes emergency landing after engine fire: report ISTANBUL: A Milan-bound Turkish Airlines plane had to make an emergency landing in Istanbul on Saturday after one of its engines caught fire shortly after take-off, local media reported. All passengers and members of the crew were immediately evacuated after the plane landed safely at Istanbul's Ataturk airport, the private Dogan news agency reported. No injuries were reported.Footage on NTV television showed smoke and flames around one of the plane's engines and fire fighters rushing ...


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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
WeeklyApril 16, 2015
Reserves $16.818 bln