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India court concludes hearing Maggi noodles case MUMBAI: An Indian court has concluded hearing a case filed by Nestle India challenging a local regulator's report that Maggi instant noodles contained excess lead, a lawyer for the company said.The Bombay High Court will give a judgement at a later date, Rajesh Batra said in a statement late on Friday.Nestle has been at the centre of India's worst food scare in a decade after a regulator in the northern state of Uttar Pradesh in May said it found excess lead in a sample of the firm's popular Maggi noodles.The company withdrew the brand from Indian stores last month. It has since challenged the findings of the Food Safety and Standards Authority of India (FSSAI) at the Bombay High Court.The lawyer said television reports on Friday that the court had asked FSSAI and Nestle India to retest Maggi noodles were incorrect. A lawyer for FSSAI could not be reached by ...

Facebook hackathon gives Super Mario millennial touch MENLO PARK: Amanda Maler wasn't even born yet when Nintendo's beloved Super Mario made his debut 30 years ago.But, the playfully heroic video game character became fodder for fierce rivalry between Maler and her brother as children and she pounced on a chance to create a Facebook-infused level during a two-day hackathon at the social network's headquarters in the Silicon Valley city of Menlo Park.Maler and fellow 20-somethings named their team "Move Fast and Brick ...

China finance ministry to auction 22bn yuan of 1-year bills on Aug 7 SHANGHAI: China's Ministry of Finance said on Friday that it will auction 22 billion yuan ($3.54 billion) in one-year government bills on Aug. 7. After the auction, the bonds will be issued from Aug. 7-12 and begin secondary market trading on Aug. 14, it said in a statement published on the website of China's main bond clearing house. Copyright Reuters, 2015

Greece to auction T-bills on August 5 ATHENS: Greece will sell 625 million euros ($684.44 million) of six-month Treasury bills on August 5 to refinance a maturing issue, its debt agency said on Friday. Cash-strapped Greece sold 813 million euros of three-month T-bills earlier this month to refinance a maturing issue, managing to keep its public finances afloat amid a bank shutdown. The settlement date of the new T-bills will be August 7. Only primary dealers will be allowed to participate and ...

Japan's Sharp to exit Americas TV market after deep Q1 loss TOKYO: Sharp Corp on Friday said it would exit the TV set business in the Americas and consider more steps to shore up its finances, after reporting a deeper-than-expected quarterly loss on weak sales of smartphone displays. The Japanese electronics maker said it would sell its TV manufacturing plant in Mexico and license its brand in the Americas to China's Hisense Group. In a separate statement, Hisense said it would pay $23.7 million for the ...

Bank of Spain says clients should not be charged twice for ATM use MADRID: The Bank of Spain said on Friday that banking clients should only be charged once for cash withdrawals from ATMs, in a rebuke to some banks which are looking into a new fee system which could penalise people twice over. Santander, Caixabank and BBVA want to introduce a two euro fee to non-clients who use their ATMs for withdrawals. But many are already charged by their own banks for using ATMs at rival lenders. ...

BNP Paribas eyes market share of retreating rivals PARIS: BNP Paribas aims to grab market share from rivals pulling back from investment banking even as its moves ahead with its own cutbacks, the French bank said on Friday. With regulatory pressures weighing on risky activities, many European banks from HSBC to Deutsche Bank are trying to scale back their investment banks.BNP Paribas has taken a more measured approach to revamping its investment bank, said Chief Officer Philippe Bordenave, who plans an update on ...


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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln