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Allianz eyes stable or slightly higher 2013 net profit BERLIN: German insurance giant Allianz expects its net profit to be stable or slightly higher this year as well as in 2014, according to its annual report published Friday.The group also said it expected 2014 operating profit to improve compared with 2013, when it is due to reach around 9.2 billion euros ($11.9 billion).Announcing its annual results last month, the group had only expressed cautious optimism for 2013 and had forecast an annual operating profit of between 8.7 and 9.7 billion euros.It confirmed the forecast in its annual report and highlighted that it did not give precise outlooks for net income."However since our outlook presumes no major disruptions of capital markets, we nevertheless expect a stable or slightly increasing net income for 2013," the report said.The group reiterated a similar statement in the report concerning 2014.Last month it announced that its net profit more than doubled last year to 5.169 ...

Turkish central bank says to hold 1.5bn lira one month repo auction ISTANBUL: Turkey's central bank will hold a one-month repo auction on Friday, maturing on April 12, with a volume of 1.5 billion lira ($829 million), bank data showed.The bank also said it will hold a one-week repo auction with a volume of 6.5 billion lira, maturing on March 22.The one-month repo auction will be held by the standard auction method, according to which banks tell the central bank the amount they want and the interest ...

Turkish Airlines Jan-Feb passengers rise 26 percent ISTANBUL: Turkey's national carrier Turkish Airlines said on Friday its passenger numbers jumped 26 percent from a year earlier to 6.4 million in the January-February period.The Istanbul-based airline said its load factor rose 4.7 points to 76.5 percent during the two months.Copyright Reuters, 2013

Credit Suisse CEO plays down impact of EU, Swiss pay curbs ZURICH: Credit Suisse chief Brady Dougan does not see major problems from Swiss plans for strict curbs on executive pay, nor is he concerned about warnings of an exodus of bankers due to the European Union's plans to cap bonuses."People are always writing about bankers leaving. In the end, not so many tend to move and I think that will also be the case this time," Dougan was quoted saying in Germany's Handelsblatt newspaper in ...

Kenya central bank says in the market to mop up 15bn shillings NAIROBI: Kenya's central bank sought on Friday to mop up 15 billion shillings ($175.8 million) from the market through repurchase agreements (repos) and term auction deposits.The bank said it was in the market seeking to soak up 8 billion shillings in repos and 7 billion shillings using term auction deposits.The bank has actively absorbed liquidity since last year to support the shilling against the dollar by making it more expensive to fund long dollar positions. ...

Fed OKs capital plans for 16 of 18 top US banks WASHINGTON: The Federal Reserve on Thursday told Goldman Sachs and JPMorgan Chase to revise their capital plans within months to address weaknesses, as it signed off on the plans of 14 other major banks.The Fed meanwhile objected to the plans for capital investment and dividend payments of two banks, BB&T and government-controlled Ally Financial.Copyright AFP (Agence France-Presse), 2013

Honda to recall 250,000 vehicles globally for braking problems TOKYO: Honda Motor Co Ltd will recall nearly 250,000 vehicles globally, including sedans, minivans and SUVs, due to braking problems, the automaker said.Seven models are affected by the recall. In the United States and five other countries, the Acura RL sedan, Acura MDX crossover SUV and the Honda Pilot SUV will be recalled.In Japan, the recall will include the Legend sedan and three types of minivans -- the Odyssey, the Elysion, and the Stepwgn.All vehicles ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln