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Airbus signs draft deal to sell 250 planes to IndiGo PARIS: European aircraft giant Airbus has signed a draft agreement to sell 250 medium range, fuel-efficient A320neo airliners to Indian low cost operator IndiGo, it announced on Wednesday.If completed, the deal worth around $25 billion (20 billion euros) at list prices, will represent the biggest sale ever by Airbus in terms of number of aircraft, the group said.Like in many countries in Asia, India's air passenger market has expanded at breakneck speed.And IndiGo, India's largest passenger carrier, is the sole airline among the four biggest currently operating to consistently report profits."This new order reaffirms IndiGo's commitment to the long-term development of affordable air transportation in India and overseas," airline president Aditya Ghosh said in a statement.Copyright AFP (Agence France-Presse), 2014


BOJ senior official QE makes it easier for banks to lend, helps economy TOKYO: A senior Bank of Japan official said on Wednesday that the central bank's quantitative easing makes it easier for banks to lend money as it pushes interest rates lower.Quantitative easing also helps increase demand for funding and contributes to overall growth, BOJ Executive Director Masayoshi Amamiya said in parliament.Amamiya is an architect of the BOJ's quantitative easing and is in charge of an important division that determines monetary policy options.Copyright Reuters, 2014

Bank of Korea governor's comments at news conference SEOUL: South Korea's central bank cut its policy interest rate for the second time in three months on Wednesday to spur the flagging economy, in line with the market's expectations, but many analysts see slim chances of further easing.Following are key remarks from Bank of Korea Governor Lee Ju-yeol at a news conference."The decision to lower rates on Wednesday was not unanimous as one dissenter voted to hold rates steady.""Our decision to cut rates was ...

Drugmaker Shire urges AbbVie to proceed with $54bn takeover LONDON: Shire Pharmaceuticals on Wednesday urged AbbVie to proceed with its agreed $54-billion takeover, after the US drugmaker decided to reconsider the deal citing a US crackdown on tax inversions.Chicago-based AbbVie announced in a statement overnight that its board will meet next week to reconsider the Shire bid, in light of White House proposals to stop US companies moving offshore to cut their tax bills.The news sent Shire's share price plunging by almost a third ...

Samsung's Cheil Industries submits plans for roughly $1.4 bln IPO -source SEOUL: Cheil Industries Inc, widely seen as the de facto holding company of Samsung Group, is likely to offer around 1.5 trillion won ($1.41 billion) worth of shares in its upcoming initial public offering (IPO), a person with knowledge of the matter said on Wednesday.Cheil may sell the shares at a price ranging from 45,000 won to 55,000 won each, according to a preliminary plan submitted by the company to South Korea's stock exchange, said ...

Toyota to recall 1.75mn vehicles globally TOKYO: Toyota said Wednesday it is recalling 1.75 million vehicles globally over brake problems and other glitches that posed a fire risk, marking the latest in a string of call backs by the world's biggest automaker.The Japanese giant pointed to three problems in several models including its luxury Lexus brand.Among the issues was an improperly shaped part in the braking system that could change the "feel" of the brake pedal over time -- a problem ...

Bank of Korea cuts rates, avoids signalling end of cycle SEOUL: South Korea's central bank slashed its policy interest rate for the second time in three months on Wednesday to match its record low and gave no clear signal that its easing cycle had ended - keeping the door open for another cut.Bond prices rose modestly as Wednesday's decision had been widely expected, with the anticipated tightening in US monetary policy next year obscuring the outlook for South Korea's own policy direction.The Bank of Korea ...


 



 
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Banking Review 2013


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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln