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Commerzbank says profits almost triple to 280mn euros FRANKFURT: Germany's second biggest banking group Commerzbank said Monday its second quarter profits had almost tripled, pushed up by higher revenue and a lower tax bill.From April to June the bank made a net profit of 280 million euros, it said, against 100 million in the first quarter. The results are better than analysts predicted, with Factset saying the bank's net profits were likely to come in around 267 million euros.Copyright AFP (Agence France-Presse), 2015

Chile central bank says will likely cut 2015 growth forecast SANTIAGO: Chile's central bank will likely cut its forecast for 2015 growth due to weaker second quarter activity but cannot reduce interest rates given above-target inflation, bank Governor Rodrigo Vergara told a local newspaper. "Although we do not yet have all the data for the second quarter that just ended, everything indicates it will be lower than the first one, which implicates a downwards revision of growth for this year," Vergara told La Tercera newspaper ...

China central bank official sees downward pressure on economy persisting: paper BEIJING: Downward pressure on China's economy will persist in the second half of the year as growth in infrastructure spending and exports is unlikely to pick up, a senior central bank official was quoted as saying.Chinese companies are not optimistic about business prospects according to the central bank's second-quarter survey, Sheng Songcheng, the director of the statistics division of the People's Bank of China (PBOC), was quoted as saying by the National Business Daily on ...

BMW CEO hints there is space for more electric models VIENNA: The chief executive of BMW hinted in a German paper that there was potential for another of its "i" electric car models."Between the i3 and the i8, there is space if you look at it from the number point of view," Harald Krueger told Frankfurter Allgemeine Sonntagszeitung, when asked if he was planning new models.He added that he could not give any more details at present.Krueger also said BMW was in regular contact with ...

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 ...

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


Index Closing Chg%
Arrow DJIA 17,689.86 0.03
Arrow Nasdaq 5,128.28 0.01
Arrow S&P 2,103.84 0.23
Arrow FTSE 6,696.28 0.41
Arrow DAX 11,308.99 0.46
Arrow CAC-40 5,082.61 0.72
Arrow Nikkei 20,585.24 0.30
Arrow H.Seng 24,636.28 0.56
Arrow Sensex 28,114.56 1.48

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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