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Hyundai Motor to launch first battery-powered electric car in 2016 HWASEONG: Hyundai Motor Co plans to start selling its first battery-powered electric vehicle (EV) in 2016 as South Korea's champion of fuel-cell cars hedges its bets in next-generation green technology. Hyundai has leant toward engines which turn hydrogen into electricity in response to stricter emissions regulations in markets such as the United States. Research and development partner Kia Motors Corp has focused on rechargeable batteries. But the division of labour is blurring at a time when the number of battery-powered EVs is on the rise. BMW's i3 and Nissan Motor Co Ltd's Leaf are widely expected to reach Korea this year - as will Kia's Soul EV. "There is no clear direction about which eco-friendly cars will win. We are dividing roles of Hyundai and Kia, with Hyundai launching fuel cell cars and Kia focusing on electric cars," Senior Vice President Lee Ki-sang told reporters on Tuesday. "But the time ...

ThyssenKrupp to close railway equipment business FRANKFURT: Germany's ThyssenKrupp said on Tuesday it would close its railway equipment business, which was damaged by its involvement in a cartel, after failing to secure a sale of its wider railways and construction arm. ThyssenKrupp said bids for the Railway/Construction division - which comprises ThyssenKrupp GfT Gleistechnik (railway equipment) and ThyssenKrupp Bautechnik (construction equipment) - were not high enough. It said the closure of the unprofitable railway equipment activities would result in the partial ...

Blackstone, TPG offer $5.5bn for Gates Global: source NEW YORK: A consortium that includes private equity firms Blackstone Group and TPG plans to offer $5.5 billion to acquire auto supply firm Gates Global Inc., a person familiar with the matter said Monday.The deal would be one of the largest private equity transactions so far this year after Cerberus Capital last week announced the $9.1 billion purchase of supermarket Safeway.Gates Global is a leading producer of power transmission belts and fluid power products for ...

Microsoft hopes 'Titanfall' can boost Xbox One WASHINGTON: Tech titan Microsoft -- which has struggled to keep pace with Sony and its PlayStation 4 -- is pinning its hopes on a new action video game, ironically named "Titanfall."The highly anticipated game for the new generation Xbox One console lands this week in a major global release, with Microsoft is betting it will keep the company in the forefront of the battle for the living room and home entertainment."The challenge is finding the ...

Japan's Sprint owner eyes US telecom price war WASHINGTON: The Japanese owner of US mobile carrier Sprint said Monday he wanted to launch a "price war" with the two major carriers as he seeks to acquire T-Mobile's US unit.Masayoshi Son, the tycoon whose SoftBank company holds a controlling stake in Sprint, confirmed his reported interest in T-Mobile, whose parent company is Germany's Deutsche Telekom, in an interview broadcast on US public television.Son, while declining to discuss details, said that he wanted to go ...

BoJ holds off new easing measures as tax hike looms TOKYO: The Bank of Japan held off launching fresh monetary easing measures Tuesday, saying the economy was picking up, despite slowing growth in the last quarter of 2013 and fears that a looming tax hike will dent the recovery.Policymakers kept in place the central bank's existing asset-purchasing scheme -- which aims to stoke growth by pumping huge amounts of money into the financial system -- after a two-day policy meeting."Japan's economy has continued to recover ...

Bitcoin exchange MtGox files for US bankruptcy protection NEW YORK: The troubled Bitcoin exchange MtGox filed for protection under US bankruptcy law Monday, 10 days after doing the same in Japan after a huge loss of the digital currency, a court document showed.The Japanese firm is now protected temporarily under Chapter 15 of US bankruptcy law for foreign firms.A bankruptcy court in Dallas, Texas accepted the request and will make a definitive ruling in April, the document said.Chapter 15 protects assets in the ...


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Arrow DJIA 16,790.19 0.08
Arrow Nasdaq 4,748.36 0.69
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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 $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 05, 2015
Reserves $18.349 bln