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Prices gain after weak NY manufacturing data NEW YORK: US Treasury prices gained on Monday after data showing manufacturing activity in New York state plunged to its weakest level in August since 2009, raising concerns the weakness may weigh on broader US economic growth indicators.The New York Fed's Empire State general business conditions index tumbled from 3.86 in July to -14.92 in August, its lowest since April 2009, due to steep drops in new orders and shipments.Economists polled by Reuters had expected the index to rise to 5.00 this month. A reading above zero indicates expansion."Some people are talking about it in regards to what this means for the broader manufacturing indexes at the beginning of next month," said Thomas Simons, a money market economist at Jefferies in New York.Benchmark 10-year notes were last up 13/32 in price to yield 2.15 percent, down from 2.18 percent before the data.Slowing growth could complicate the Federal Reserve's ability to ...

Volkswagen says 2,700 cars damaged in China port blasts BEIJING: Volkswagen AG said on Monday that around 2,700 of its imported cars were damaged in last week's blasts at the port in China's Tianjin, which killed more than 100 people. Tianjin is China's largest port for car imports. Volkswagen's announcement follows Renault SA confirming that nearly 1,500 of its cars burned in the explosions originating in an area of the port that stored toxic chemicals. Copyright Reuters, 2015

BMW diverts China imports to Shanghai from Tianjin after blasts FRANKFURT: BMW has switched to Shanghai as the main harbour for importing vehicles into China in the aftermath of explosions which damaged the port facilities in Tianjin, a company spokesman said on Monday. Around 2,000 vehicles a week which would otherwise have gone via Tianjin have been redirected to Shanghai, which normally handles about 10,000 vehicles weekly, BMW said. Because access to facilities within 3 km of the blast zone remains blocked, BMW is unable ...

Singapore Air seeks Northeast Asia deals after collapsed Jeju talks SINGAPORE: Singapore Airlines Ltd (SIA) is continuing to search for growth through partnerships and investment in Northeast Asia, two people close to the company told Reuters, days after tie-up talks collapsed with South Korea budget carrier Jeju Air. The airline, which tried to buy into China Eastern Airlines Corp Ltd in 2008, is particularly looking for a way to access China's vast domestic flights market, the people said. SIA has put money into markets such ...

Alstom and H&M rise as European shares climb higher LONDON: European stocks rose on Monday to rebound from losses last week caused by worries over China's currency devaluation, with shares in French industrial group Alstom outperforming.The pan-European FTSEurofirst 300 index was up by 0.9 percent while the euro zone's blue-chip Euro STOXX 50 index also moved 1 percent higher.Alstom shares rose around 7 percent, after two people familiar with the matter told Reuters that General Electric was expected to secure EU approval for its ...

IndiGo confirms record order of 250 Airbus A320neos PARIS: Indian airline IndiGo has confirmed an order for 250 A320neo planes, Airbus announced Monday, the aviation giant's largest ever contract by number.The order is worth some $26.5 billion (24 billion euros) at catalogue prices, and brings to 530 the number of A320 and A320neo medium-haul planes owned by the low-cost operator.The purchase of the single-aisle A320neo planes confirms a draft deal signed in October."This new order further reaffirms IndiGo's commitment to the long-term development ...

Lotte chief wins key battle in family feud SEOUL: The chairman of South Korea's Lotte Group secured crucial shareholder support Monday in his bitter struggle against his father and elder brother for control of the family-run retail giant.Shareholders of Lotte Holdings -- the group's Japan-based de facto holding group -- approved corporate governance proposals to be implemented "under the leadership" of the chairman Shin Dong-Bin, Lotte said in a statement.It said Lotte, the country's fifth largest conglomerate, "welcomed" the vote.The keenly-watched shareholder meeting ...


Index Closing Chg%
Arrow DJIA 16,643.01 0.07
Arrow Nasdaq 4,828.32 0.32
Arrow S&P 1,988.87 0.06
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,298.53 0.17
Arrow CAC-40 4,675.13 0.36
Arrow Nikkei 19,136.32 3.03
Arrow H.Seng 21,612.39 1.04
Arrow Sensex 26,392.38 0.61

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln