Just in:  

You are here: Home»Business


Kenya's new car sales jump 15pc in first 10 months NAIROBI: Sales of light commercial trucks helped push new vehicle sales in Kenya to 16,711 units in the first 10 months of 2015, 15 percent higher than in the same period last year, the head of the industry's association said on Tuesday.Rita Kavashe, the chairman of the Kenya Motor Industry Association, told Reuters sales of light trucks used to distribute goods and ferry construction materials had grown by 25-30 percent from a year before."The distribution and construction side of the economy is booming, driving demand of the medium, light duty trucks," she said by telephone.Heavy duty trucks, used for long distance haulage of goods, including into neighbouring countries from the port of Mombasa, was also growing by double digits, Kavashe said.The luxury car segment, which is dominated by second-hand imports, grew at a more sluggish pace, Kavashe said, attaining a growth rate of 1.5 percent, accounting for 2,000 of the ...

Hungary central bank aims to sell all of MKB Bank BUDAPEST: The National Bank of Hungary aims to sell all of state-owned MKB Bank in a privatisation process advised by JP Morgan, central bank Deputy Governor Marton Nagy said on Tuesday.He said MKB Bank and JP Morgan had recently held a road show to meet foreign investors in London and the goal was to sell at least 51 percent of the bank, but ideally all of MKB Bank would be privatised early next year.Nagy said ...

Allianz sharpens focus on profitability FRANKFURT: Europe's biggest insurer Allianz is to focus on profitability and efficiency as part of plans to win 5 million new customers and generate 6.5 billion euros ($6.92 billion) in revenues by 2018.The Munich-based insurer said in a statement ahead of an investor day on Tuesday that it would improve growth and productivity at its businesses and "reposition" those that were uncompetitive.Allianz unveiled a raft of productivity initiatives to boost earnings over the coming years ...

Instagram Challenged There is a new app in town challenging Instagram’s supremacy in picture business. The app going by name Flipagaram, it is a mixture of videos, photos, text and a new thing which is 60 second snippets of hit songs.Farhad Mohit the creator of the app went from facing overnight problems to investor’s selection. Developed in home of Farhad, the app is now riding waves by catching attention of some of the biggest investing firms like ...

Credit Suisse says agrees pay increase for Swiss staff ZURICH: Swiss bank Credit Suisse said on Tuesday it had agreed on pay increases for next year for its staff in Switzerland."The social partners have agreed on an increase in the total salary amount in accordance with the Agreement on Conditions of Employment for Bank Staff (ACEBS) of 0.75 percent for individual and performance-based salary increases for 2016," the Zurich-based bank said in a statement.This applies to employees in Switzerland who are subject to the ...

VW says it has fixes for 90% of emissions scandal cars in Europe BERLIN: German auto giant Volkswagen, mired in a massive emissions cheating scandal, said Monday that it has found technical solutions for more than 90 percent of the vehicles affected in Europe. The recall process is now viable "technically, financially and in terms of manpower.This is good news," chief executive Matthias Mueller said. "For over 90 percent of the Europe group's vehicles, solutions are now confirmed," he told around a thousand VW executives at the company's ...

Russia central bank withdraws licences from four banks MOSCOW: Russia's central bank said on Tuesday it had withdrawn the licences from four banks for violating banking regulations, part of a long-running campaign to clean up the country's financial sector.The four were Moscow-based Baltica Bank, Svyaznoy Bank and Nota-Bank, and Samara-based Ipozembank. Nota-Bank was in Russia's top 100 banks by assets, while Svyaznoy Bank is the banking arm of one of Russia's largest electronics retailers.Two of the banks, Ipozembank and Baltica Bank, were found ...


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

Wholesale Camping Equipment from China at 

New 2015 adidas and Nike Soccer Cleats at Kicks Corner uk

Ad Asia 2015

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln