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Volkswagen China growth slows to 10pc due to capacity limits SHANGHAI: Volkswagen AG's growth in China is expected to slow to around 10 percent this year from 16 percent in 2013 due to a conservative strategy that has limited its production capacity, the head of its Chinese operations said on Tuesday. A shortage in capacity is the only reason Volkswagen's growth rate has lagged overall growth in China's vehicle market recently, Volkswagen China President Jochem Heizmann told reporters in Guangzhou, ahead of an annual auto show that will open on Thursday in the southern Chinese city. The German car maker plans to step up investment in manufacturing so that this is no longer an impediment, he said. Heizmann said he expected Volkswagen Group, whose brands include Audi, Skoda and Porsche, to deliver a total of 3.6 million vehicles in China this year, which amounts to an annual increase of around 10 percent. That's a slowdown from last year's 16 percent ...

BoJ keeps economic outlook despite Japan sinking into recession TOKYO: The Bank of Japan on Wednesday kept its view that Japan's economy was recovering, despite GDP data that showed the country had slipped into recession.Wrapping up a two-day policy meeting, the central bank kept its policy unchanged -- after expanding the already huge stimulus package last month -- as investors eye a press briefing later Wednesday by BoJ governor Haruhiko Kuroda.Markets want to see what Kuroda will say about the government's decision to delay ...

Samsung scraps unit merger on shareholder opposition SEOUL: South Korea's Samsung scrapped Wednesday a merger between two major units, citing the spiralling cost of buying back stock from shareholders opposed to the deal.Samsung Heavy Industries -- the world's third largest shipmaker -- and Samsung Engineering had announced the planned merger in September as part of a major restructuring to smooth a generational ownership succession. Under the deal, the two firms were required to buy back shares from investors opposed to the merger.The ...

Honda says no notice yet from NHTSA about expanding regional recalls TOKYO: Honda Motor Co said on Wednesday it had not received a notice from US safety regulators about expanding nationwide a previous region-specific recall of flawed air bags supplied by Takata Corp. The National Highway Traffic Safety Agency's (NHTSA) call for a recall expansion was prompted by an August incident in North Carolina, outside the area previously included in a recall involving hot and humid regions. "Honda will continue to cooperate with NHTSA in its ...

Netflix to launch in Australia, New Zealand in March SYDNEY: US online entertainment powerhouse Netflix ended months of speculation Wednesday in announcing it is moving into the Australian and New Zealand market from March.Netflix has pioneered online streaming of original content, including TV shows and films, challenging traditional network and cable broadcasters."Internet-connected users in Australia and New Zealand will be able to subscribe to Netflix and instantly watch a curated selection of popular movies and TV shows," the company said in a statement. Netflix ...

Safety watchdog urges full Takata air bag recall in US WASHINGTON: US safety regulators pushed Tuesday for a nationwide recall of cars with defective Takata air bags, increasing the pressure on both the Japanese firm and automakers ahead of a Senate hearing into the deadly problem.An earlier recall limited to several mostly southern US states needed to be expanded to the full country, said David Friedman, deputy administrator of the National Highway Traffic Safety Administration (NHTSA)."We now know that millions of vehicles must be recalled ...

BOJ meets as economic slump, tax delay cast doubt over outlook TOKYO: The Bank of Japan is expected to hold policy steady when its two-day meeting ends on Wednesday, but what it has to say about the country's slide into recession may unsettle markets already digesting the government's decision to call a snap election.Prime Minister Shinzo Abe said on Tuesday he was postponing next year's sale tax hike and calling an early poll to get a fresh mandate for his reflationary economic policies that have so ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln