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BNP Paribas in talks to buy GE's European fleet management business PARIS: BNP Paribas's Arval unit signed a memorandum of understanding to buy GE Capital's European fleet management business, the group said in a statement on Monday.The completion of the transaction is expected in the fourth quarter of this year, The French bank said.Copyright Reuters, 2015


Framework for China-led international bank signed BEIJING: Countries from five continents formally signed up to the China-led Asian Infrastructure Investment Bank at a ceremony on Monday, officials said, as Beijing steps up its global diplomatic and economic role.Australia was the first country to sign the articles of association creating the AIIB's legal framework in the Great Hall of the People, an AFP journalist saw, followed by 49 other founding members. Seven more are expected to do so by the end of ...

ECB considers tightening emergency funding for Greek banks FRANKFURT: European Central Bank policy setters are considering keeping Emergency Liquidity Assistance open to Greek banks on Monday but imposing a higher valuation discount on the security they offer in return for the funding, people familiar with the matter said. If the haircut on the assets Greek banks give for Emergency Liquidity Assistance is increased, it would, however, curb their use of such finance. "There is a possibility of an extension," said one of the ...

Honda revises last year earnings due to airbag recall TOKYO: Japanese car giant Honda revised down its annual earnings for the last fiscal year on Friday, blaming the expanding recalls of faulty airbags made by Takata, which have been linked with eight deaths.The nation's third biggest automaker said its net profit for the year to March this year was 493 billion yen, or $4 billion, falling 14.1 percent from the previous year.The level compared with the originally announced 522.7 billion yen that would have ...

Air France denies reports of sweeping job cuts PARIS: Air France on Friday denied a report that it was preparing to lay off 3,300 employees as part of continuing cost cutting at the French flag carrier.An email sent by the company said Air France "formally denies information published in the press" Friday, when the Le Monde daily reported the airline was preparing "3,000 ground crew departures and 300 among pilots.""These job cuts will be accompanied by the withdrawal of 20 planes from the ...

Honda revises last year earnings due to airbag recall TOKYO: Japanese car giant Honda revised down its annual earnings for the last fiscal year on Friday, blaming the expanding recalls of faulty airbags made by Takata, which have been linked with eight deaths.The nation's third biggest automaker said its net profit for the year to March this year was 493 billion yen, or $4 billion, falling 14.1 percent from the previous year.The level compared with the originally announced 522.7 billion yen that would have ...

Apple Watch lands in competitive S. Korea market SEOUL: Apple's first smartwatch landed in South Korea, one of the world's most competitive markets Friday, drawing a good response from fans, but analysts cast doubt on its long-term success there, citing a tough challenge from local brands.Eager South Korean consumers braved the onset of monsoon rains and concerns over a MERS outbreak, which has killed 31 people, to form long queues outside stores selling the Apple Watch wearable device."I'm very happy," said Lee Woo-Min, ...


 



 
Index Closing Chg%
Arrow DJIA 17,596.35 1.95
Arrow Nasdaq 4,958.47 2.40
Arrow S&P 2,057.64 2.09
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Arrow DAX 11,083.20 3.56
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJune 25, 2015
Reserves $17.457 bln