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Turkish banks' Jan-July net profit rises 5.7pc ISTANBUL: Turkish banks' combined net profit rose 5.7 percent to 15.35 billion lira ($5.26 billion) in the first seven months of the year, data from the BDDK banking watchdog showed on Monday. The BDDK said bank assets at the end of July stood at 2.27 trillion lira, up 22.8 percent from a year earlier. Loans totalled 1.43 trillion lira at end-July, up 25.6 percent year-on-year. Copyright Reuters, 2015

Bank of China to open Czech branch as Prague seeks closer ties with Beijing PRAGUE: Bank of China said on Monday it will open a branch in the Czech Republic, highlighting efforts by the two countries to boost business ties. China's fourth biggest commercial bank already has branches in Poland and Hungary, and plans to boost business in the region, said Wenbo Hou, the head of the team setting up the Prague branch. "Because CEE (central and east European) countries have big economic potential we will invest more in ...

Japan factory output turns down in July as China demand slumps TOKYO: Japan's factory output contracted a worse-than-expected 0.6 percent on-month in July, official data showed on Monday, owing to lacklustre demand at home and as a slowdown in China weighs on exports.The reading published by the industry ministry was weaker than the median forecast for a modest 0.1 percent rise in a survey of economists by Bloomberg News.In June, industrial production rose 1.1 percent from May.Production cutbacks in the electrical components and transport equipment industries ...

China Construction Bank H1 net profit flat, hit by bad loans SHANGHAI: China Construction Bank (CCB), one of the country's biggest state banks, said net profit for the first half of the year were flat, hit by rising bad loans.The bank's net profit for the January-June period rose just under one percent year-on-year to 131.90 billion yuan ($20.64 billion), the bank said late Sunday, just a fraction higher than the 130.66 billion yuan for the same period last year.At the same time, its bad loans rose ...

Fuel pump fault sees Qantas A380 flight diverted SYDNEY: A Qantas passenger jet bound for Sydney was diverted to the west Australian city of Perth on Monday after the pilots detected an issue with a fuel pump, the airline said.The Airbus A380 was travelling from Dubai when the problem was detected, forcing an unscheduled landing in Perth shortly before 3:00am (1900 GMT Sunday)."While travelling to Sydney from Dubai, the pilots received an indication that there was a technical issue with the aircraft so ...

Italy's Eni makes mega gas discovery off Egyptian coast ROME/MILAN: Italian energy group Eni said on Sunday it had discovered potentially one of the world's largest natural-gas fields off the Egyptian coast, predicting the find could help meet Egypt's gas needs for decades to come. "According to the well and geophysical data available, the field could hold a potential of 30 trillion cubic feet of lean gas in place," Eni said in a statement. It said the discovery well was located off Egypt's Mediterranean ...

Chinese machine maker Sany sees H1 earnings drop 75pc BEIJING: Major Chinese construction machinery maker Sany Heavy Industry Co Ltd on Sunday reported a 75.6 percent fall in its first half earnings amid a sustained downturn of the domestic market. Net income in January-June came to 334.8 million yuan ($52.42 million), compared with 1.4 billion yuan a year earlier, according to a stock exchange filing. Encouraged to expand after Beijing fired up a $644 billion stimulus package in 2008, Chinese heavy equipment makers are ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln