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BlackBerry stock falls after Apple-IBM deal MONTREAL: Blackberry stock fell sharply on Wednesday, one day after the announcement of a landmark deal between rivals Apple and IBM to offer custom-tailored apps for businesses.At around 1440 GMT, Blackberry shares were down 5.58 percent to 10.68 dollars, after falling 6.3 percent when the markets opened in New York.Blackberry helped create a culture of mobile users glued to smartphones, but consumers have moved in droves to iPhones and devices using Google's Android software. The deal between Apple and IBM seemed likely to hasten the Waterloo, Ontario-based company's demise.After posting record losses last year, Blackberry brought in new management and outsourced its handset production to Taiwan-based Foxconn.The company said it sold 2.6 million smartphones in the last quarter. Hardware sales accounted for 39 percent of its revenues, while services grew to 54 percent. The remainder came from software and other sources.Copyright AFP (Agence France-Presse), 2014


UK recoups £135mn in tax from leaked Swiss bank list LONDON: Britain has recovered £135 million ($231 million, 171 million euros) from clients named on a leaked list of HSBC's private banking operation in Switzerland, the tax authority said on Wednesday.Her Majesty's Revenue and Customs (HMRC) told a parliamentary hearing that one person had been prosecuted from a list of 24,000 HSBC Private Bank clients leaked by former employee Herve Falciani, who said he wanted to expose tax evasion.The leak sent shockwaves through the world ...

Apple to pay consumers up to $400mn in e-books case NEW YORK: Apple will pay up to $400 million to compensate consumers for illegal price-fixing conspiracy for electronic books, officials said Wednesday.The settlement would reimburse consumers in 33 states whose authorities sought damages for Apple's price-fixing, according to a statement from New York's attorney general.But the settlement is contingent on the upholding of a verdict in a July 2013 federal court ruling that Apple violated antitrust laws by orchestrating a conspiracy with five publishers to ...

BMW to raise China capacity to 400,000 cars in next 2 years BERLIN: German luxury carmaker BMW plans to raise capacity at its two Chinese factories to 400,000 cars over the next two years, finance chief Friedrich Eichiner said on Wednesday.Munich-based BMW will also double the number of models built in the world's largest auto market to six from three, the CFO said in remarks prepared for delivery in Beijing."We are strengthening our focus on meeting the needs and aspirations of our Chinese customers," Eichiner said.Capacity at ...

Qatar Airways confirms Boeing 777 jets order for $18.9bn FARNBOROUGH: Qatar Airways has finalised a deal to buy 50 777-9X passenger planes from US group Boeing in a deal worth $18.9 billion (14 billion euros) at list prices, the pair announced on Wednesday.Qatar has also agreed a commitment for 50 more of the long-haul US planes, which if exercised would bring the total value to $37.7 billion, the airline announced at the Farnborough airshow.Copyright AFP (Agence France-Presse), 2014

Global business leaders push for infrastructure funding overhaul SYDNEY: International business leaders are lobbying the Group of 20 bloc of advanced and developing countries to tackle a $57 trillion shortfall in global infrastructure, pressing for changes to funding rules they say would help big projects move ahead. This week’s Sydney summit of the Business 20 group will push for lighter financial regulation and improved access to capital for businesses as it sets out a corporate blueprint for the world’s top economies to ...

Qantas to remain majority Australian owned SYDNEY: The Australian government Wednesday abandoned plans to allow struggling national carrier Qantas to be majority overseas owned but agreed to a compromise that will see foreign investment restrictions eased.Qantas has been lobbying for help after a Aus$235 million (US$219 million) loss in the six months to December 31 and a decision to slash 5,000 jobs as it battles high fuel prices and fierce competition from subsidised rivals.It wanted Canberra to relax the 1992 Qantas ...


 



 
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Banking Review 2013


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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln