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ECB again increases emergency liquidity reserve for Greek banks ATHENS: The European Central Bank (ECB) again increased emergency liquidity funds for Greece's banks Monday, according to a Greek bank source who said the ECB may renew the hike "at any time" if necessary.The new increase of the ECB's Emergency Liquidity Assistance (ELA) was the third since Wednesday and came as Greek savers continued withdrawing their money in large volumes from the country's banks.Though the total amount of the new reserve was not divulged, the Greek source said ECB "governors may meet at any time ... including today or tomorrow" to review the situation, which is likely to evolve against an emergency eurozone summit in Brussels later Monday to seek an accord on Greece's debt crisis. On Wednesday the ELA ceiling was raised by 1.1 billion euros ($1.25 billion) to 84.1 billion euros, as the rate of Greek bank withdrawals rose. On Friday the reserve was increased a further 1.8 ...

Honda reports eighth death in exploding airbag crisis TOKYO: Japanese automaker Honda on Monday confirmed a new death linked to an exploding air bag crisis -- bringing the global total to eight fatalities -- that has sparked the recall of millions of vehicles.The company said a woman in Los Angeles died in September last year after the faulty inflator in a 2001 Honda Civic ruptured, firing metal shrapnel at her."The airbag inflator rupture that occurred during this crash resulted in the death of ...

AirAsia says aviation laws prevent it from consolidating associates' accounts KUALA LUMPUR: AirAsia refuted on Monday a report that had said the airline was unwilling to consolidate the accounts of its foreign associates and be more transparent about its finances, saying it was prevented from doing so by aviation regulations. Little-known Hong Kong-based GMT Research said in a June 10 report that AirAsia is unwilling to consolidate the accounts of its foreign associates. AirAsia's internal audit committee said in a statement the airline had, in ...

Apple bows to Taylor Swift on streaming payments NEW YORK: Tech giant Apple late Sunday bowed to pressure from pop superstar Taylor Swift and raised payments to artists for its forthcoming music streaming service.The about-face by one of the world's most powerful companies showed the extraordinary influence of the 25-year-old Swift, who had vowed a partial boycott of the new Apple Music service.Swift, saying that she was speaking up for artists afraid of upsetting Apple, had called the company's behavior "shocking" over its ...

Failure to reach Greece deal would be 'insane': bank chief LONDON: The head of Greece's biggest bank voiced optimism Sunday that the country would avoid a default, saying it would be "insane" if there was no deal with creditors.The clock is ticking for Athens to reach a deal with the European Union and the International Monetary Fund, with a key debt repayment due at the end of the month.But Louka Katseli, chair of the National Bank of Greece, told BBC radio on the eve of ...

SoftBank paid $135m to former Google exec Arora; reports TOKYO: Japan's telecom carrier SoftBank paid vice president and ex-Google executive Nikesh Arora a whopping $135 million in the year to March, reports said Saturday.The amount included a one-time, sign-on bonus for the Indian-born 47-year-old, according to the Nikkei business daily and the Asahi Shimbun.Arora gave up his high-profile post at the Internet search giant to join the Japanese firm in October last year.SoftBank's official filing showed it paid 16.556 billion yen ($135 million) to ...

New management at News Corp to push Asia expansion SYDNEY: A new management team at Rupert Murdoch's News Corp's Australian operations will support plans to expand into fast-growing Asia, son Lachlan Murdoch said Saturday.It was announced Friday that chief executive Julian Clarke will retire at the end of the year to be replaced by chief operating officer Peter Tonagh.In addition, Michael Miller will rejoin News from APN News & Media, which has newspaper and radio assets, to take on the newly created role of ...


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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln