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Commerzbank deepens job cuts in toughened savings plan: sources FRANKFURT: Commerzbank, Germany's second-biggest bank, is widening the scope of its savings programme and plans to shed more than 450 jobs on top of an ongoing restructuring plan, three people familiar with the matter said.At a staff meeting last week, Commerzbank's works council representatives announced that the bank is targeting 350 jobs cuts at its finance department in Frankfurt by 2017 and 100 at sites in Duisburg and Berlin, according to people who attended the meeting."There have been signals from the board that there is more to come and that all departments of the group could be hit in the short term," one of the people said.Commerzbank, which is in the midst of a radical cost-cutting programme - its second in four years - had announced plans to shed 5,200 of its roughly 45,000 staff.It has struggled to overhaul itself since receiving an 18 billion euro ($24.2 billion) bailout following ...


Hindustan Unilever Q1 net profit rises 4pc, beats estimates MUMBAI: Hindustan Unilever Ltd on Monday said first-quarter net profit rose 4 percent on year, beating analyst estimates.The Indian subsidiary of Anglo-Dutch parent Unilevermade a net profit of 10.57 billion rupees ($175.9 million) for the three months ended June 30, from 10.19 billion rupees in the same period a year earlier.Sales by India's largest manufacturer of household products and consumer goods rose 13 percent to 75.7 billion rupees.Analysts had estimated net profit of 9.66 billion ...

Irish central bank raises 2014 economic growth forecast to 2.5pc DUBLIN: Ireland's central bank increased its economic growth forecast for 2014 to 2.5 percent from 2 percent on Monday, citing better than expected export growth underpinning a recovery beginning to firmly take hold.The economy expanded 2.7 percent in the first quarter, having been stuck in neutral for the last two years. The central bank reiterated that the economy has now broadly stabilised and domestic demand will contribute to growth this year.The government has said the ...

Nissan aims to boost US sales and profit as it closes on Honda YOKOHAMA: Nissan Motor Co Ltd aims to boost sales and profitability in the United States, its biggest market, an executive said, after Japan's No.2 automaker posted a 14 percent rise in quarterly U.S. sales, closing in on rival Honda Motor Co.For the April-June quarter, Nissan posted a 4.3 percent quarterly operating profit margin for North America, up from the 3.8 percent it booked the same period a year ago. It sold around 350,000 vehicles in ...

Reckitt Benckiser says to spin off pharmaceuticals arm LONDON: British household goods firm Reckitt Benckiser (RB) has decided to spin off its pharmaceuticals division, it announced on Monday after a strategic review.The company will float the unit, RB Pharmaceuticals, on the London stock market later this year, it said in a statement which also revealed that first-half net profits jumped by almost a quarter."We believe that RB Pharmaceuticals has the potential to deliver significant long term value creation as a stand-alone business," said ...

Samsung delays Tizen smartphone sales launch SEOUL: Samsung Electronics said Monday it would postpone the roll-out of its new smartphone based on Tizen, a home-grown operating system aimed at breaking away from Google's Android system.The delay is seen as a blow to Samsung's campaign to carve out a niche in mobile software and services, to complement its dominant hardware role.The Samsung Z, which has been specially developed by Samsung to run on the Tizen platform, was to go on sale in ...

Commerzbank to cut over 450 more jobs in savings plan FRANKFURT: Commerzbank, Germany's second-biggest bank, is widening the scope of its savings programme and plans to shed more than 450 jobs on top of an ongoing restructuring plan, three people familiar with the matter said.At a staff meeting last week, Commerzbank's works council representatives announced that the bank is targeting 350 jobs cuts at its finance department in Frankfurt by 2017 and 100 at sites in Duisburg and Berlin, according to people who attended the ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln