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Austria's RBI says business doing well apart from Ukraine, Hungary VIENNA: Raiffeisen Bank International's (RBI) business is doing well apart from in Ukraine and Hungary, its finance chief said on Thursday, reiterating it expected to make a profit in 2015 after a loss this year. Emerging Europe's number two lender said last month it could lose as much as 500 million euros ($638.8 million) this year because of problems in Ukraine and Hungary. "We're still earning good money in many countries, we only have two countries that cause us concern," said Chief Financial Officer Martin Gruell at an investment conference in Vienna, referring to Ukraine and Hungary. He said sanctions on Russia were having an impact on RBI only in single-digit million euros so far. RBI has said the conflict in Ukraine and Hungary's campaign to make banks cough up money for mispriced loans were unusual items and that it would make a "mid-triple-digit million euro" profit next year. Gruell ...


Board of AbbVie says no longer backs takeover of Shire NEW YORK: The board of directors of US pharmaceutical firm AbbVie said early Thursday it no longer backs a $54 billion (40 billion euro) takeover of its Irish-based competitor Shire.In a statement recommending shareholders vote against the deal, AbbVie said its decision was due to a new crackdown on US firms relocating abroad to save on taxes.The change made the takeover less appealing financially, the company said in a statement.It acknowledged the company may have ...

ECB trims haircut on Greek banks' collateral ATHENS: The European Central Bank reduced the haircut it applies on the bonds Greek banks submit as collateral to borrow funds, a Greek central bank official told Reuters on Thursday, in a move to boost their access to liquidity."The move was decided late on Wednesday evening after talks between the government, the ECB and Greece's central bank governor," the official said.He said the new smaller valuation discount meant that an extra 12 billion euros of ...

Japan staffing giant Recruit soars on Tokyo debut TOKYO: Japanese staffing giant Recruit Holdings soared 7.4 percent on its trading debut Thursday after a nearly $2.0 billion initial public offering, one of the biggest in Tokyo this year.The firm ended its first trading day at 3,330 yen ($31), well up from its IPO price of 3,100 yen. That came even as the broad-based Topix index, on which it is listed, tumbled more than two percent following heavy losses in New York and Europe.As ...

BHP Billiton to list spin-off in London SYDNEY: BHP Billiton Thursday said it plans to list its new spin-off in London after British shareholders complained about the mining giant's decision to list only in Australia and South Africa.The firm, which is listed in Sydney and London, outlined a proposal in August to create a new independent company by demerging non-core assets, including some of its aluminium, coal, manganese, nickel and silver operations.Under the plan, the new entity -- provisionally named NewCo -- ...

China bank lending picks up in September: central bank SHANGHAI: China's banks stepped up their lending in September, the central bank announced Thursday, but analysts said more monetary easing was needed to bolster the weakening economy.Domestic banks extended 857.2 billion yuan ($139.9 billion) in new loans, the People's Bank of China (PBoC) said in a statement, up more than a fifth from the 702.5 billion yuan lent in August.The September figure also beat a median forecast of 745 billion yuan from a Wall Street ...

Thai Airways targets $5bn ticket sales, to focus on corporates BANGKOK: Thai Airways International PCL on Thursday said the flag carrier is aiming for passenger ticket sales of 157 billion baht ($4.84 billion) in 2014, and that it will focus more on corporate clients to boost revenue. The money-losing airline plans to approach companies in Singapore, China and India to buy its tickets after signing contracts with seven Thai companies, Vice President Surapol Isarakura na Ayutthaya told reporters, without providing 2013 figures. The airline, which ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln