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Goldman Sachs earnings surge on strong trading results NEW YORK: Goldman Sachs' profits soared in the first quarter on heavy merger and acquisition activity and strong trading levels in financial markets, earnings released Thursday showed.Net income rose nearly 40 percent to $2.7 billion compared with the year-ago period.The investment bank prospered from a wave of dealmaking that has resulted in large transactions in the pharmaceutical, energy and other sectors. Net revenues in financial advisory were $961 million, 41 percent higher than in 2014.Goldman also benefited from a 10 percent rise in revenues in fixed income, currency and commodity client execution to $3.13 billion. Activity in foreign exchange trading was high due to major policy decisions by central banks, including in Switzerland and the eurozone.The bank also notched a 46 percent increase in equity trading, which "operated in an environment generally characterized by more favorable market-making conditions, generally higher global equity prices and strong client activity level."Goldman chief executive ...


Lower expenses lift Citigroup earnings NEW YORK: Lower expenses helped lift Citigroup earnings in the first quarter, but the bank's divisions reported mixed performance amid lower revenues, according to earnings Thursday.Net income was $4.8 billion, up about 21 percent compared with a year ago.A key improvement was the 10 percent decline in operating expenses to $12.1 billion, partly due to legal costs that were less than half the level a year ago. Citi also had just $16 million in repositioning ...

China corporate jet sales 'dire' after graft sweep SHANGHAI: China's corporate jet market is facing a "dire" 2015, an aviation consultancy said, as slowing economic growth and a persistent crackdown on corruption batter sales.The number of corporate jets -- also called business or executive jets -- in mainland China rose 16 percent year-on-year to 297 in 2014, independent consultancy Asian Sky Group stated in its annual fleet report.That was a slowdown from a 26.7 percent surge in 2013 and little improvement is seen ...

ANZ Bank says to pay $23mn in compensation to some financial planning clients SYDNEY: Australia and New Zealand Banking Group on Thursday said it will pay about A$30 million ($23.29 million) in compensation to clients of a fee-for-service package after it failed to provide a documented annual review.Australia's No. 3 lender by market value said the decision would affect about 8,500 clients of the Prime Access product.Prime Access was introduced in 2003 and includes priority access to financial planners, investment monitoring alerts and a documented annual review. Australian ...

GM is shielded from some ignition-switch suits, ruling finds NEW YORK: General Motors Co will not have to face dozens of lawsuits accusing it of concealing an ignition-switch defect that has been blamed for more than 200 deaths and serious injuries, a US bankruptcy judge ruled on Wednesday. Plaintiffs in the lawsuits said the company violated their constitutional rights by failing to disclose the defect, while GM had argued it was protected from claims on vehicles pre-dating its 2009 exit from Chapter 11 bankruptcy. ...

Renault summons board in response to French stake hike PARIS: Renault will hold an emergency board meeting on Thursday in response to French government moves to tighten its grip on the carmaker and its alliance with Nissan, a company source with knowledge of the matter said. The afternoon board session has been scheduled to discuss "shareholding changes", the source said, after France raised its Renault stake to bolster its influence over the company in a challenge to Chief Executive Carlos Ghosn. Neither Renault nor ...

Nokia agrees 15.6-bn-euro deal to buy Alcatel-Lucent PARIS: Nokia has struck a 15.6-billion-euro deal to buy its rival Alcatel-Lucent to create the world's biggest supplier of mobile phone network equipment, both firms said Wednesday.The merger of two companies that were once new technology stars but have since lost some of their lustre will produce a European champion able to take on Nokia's Swedish rival Ericsson or fierce Chinese competition.The announcement sent shares in Alcatel-Lucent plunging 15 percent on Paris's stock market, while ...


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln