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Political interference in Kabul Bank prosecution KABUL: An inquiry into the theft of some $900 million which led to the near-collapse of Afghanistan's largest bank has found there was high-level political interference over who should face prosecution.   "Information received during the inquiry indicates that the final decision about who to indict was made at the political level in the spring of 2011 by a high-ranking committee," the inquiry report said Wednesday.   Copyright AFP (Agence France-Presse), 2012

Bankia, Banco de Valencia trading suspended MADRID: Trading in two Spanish banks, Bankia and Banco De Valencia, already nationalised because of their financial difficulties, has been suspended, banking regulators CNMV announced Wednesday.   The announcement came the day after the news that Banco de Valencia was to be taken over by Caixabank, the third largest in Spain. In Bankia's case, the CNMV referred to what it described as circumstances that could disturb trading in its stocks.   Copyright AFP (Agence France-Presse), 2012

China BEIJING: Chinese banks including Agricultural Bank of China Ltd and China Construction Bank Corp are rushing to sell up to 150 billion yuan ($24 billion) of subordinated debt by the year-end ahead of tougher issuance rules, bank disclosures show.   That would surpass the 100 billion yuan of subordinated bonds issued year-to-date, according to Thomson Reuters data.   Under the new rules, the funds raised by banks through subordinated bonds won't be counted as part of their capital base, ...

JGBs futures hit 9-1/2-year high on US fiscal woes, China worries  TOKYO: Japanese government bond prices ticked higher on Wednesday, with benchmark futures prices hitting a 9-1/2-year high, helped by lack of progress in negotiations to resolve the US "fiscal cliff" budget crisis and fall in Chinese shares.   The benchmark 10-year JGB futures price rose 0.16 point to 144.78, briefly rising to 144.79, their highest level since June 2003, when they had gone to as high as 145.09.   The current 10-year cash JGB yield fell 1.0 basis point ...

Qantas ends Tourism Australia link amid sabotage claim  SYDNEY: Qantas Airways on Wednesday severed a lucrative marketing deal with Tourism Australia after claiming its boss was leading a consortium trying to unseat the airline's management and buy out the company.   The carrier said it had advised the country's official tourism agency it was halting the Aus$50 million (US$52 million) deal "due to a potential conflict of interest of the agency's chairman", former Qantas chief Geoff Dixon.   Dixon ran the national flag-carrier between 2001 and 2008, ...

Canada orders automakers to halve emissions OTTAWA: Canada's environment minister unveiled on Thursday new regulations to improve fuel efficiency and halve the greenhouse gas emissions of passenger vehicles and light trucks.   The tougher standards, which must still be approved by parliament, would apply to model years 2017 to 2025 and align Canada's regulatory regime with the United States.   "By 2025 new cars will consume 50 percent less fuel and emit 50 percent less greenhouse gases than a similar 2008 model, leading to significant ...

Spanish company denies part in nuclear smuggling plan to Iran MADRID: Basque company ONA Electroerosion denied on Tuesday charges made by the Spanish tax authorities that it had smuggled machinery to Iran to use in the country's nuclear programme.   The company said it has absolutely nothing to do with Iran's nuclear programme and that all its exports to any country of equipment such as fan-manufacturing machines met with international rules.   On Monday, Spain's tax agancy said the company had managed to send over seven machines designed to ...


Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,825.31 0.08
Arrow DAX 9,479.03 0.09
Arrow CAC-40 4,379.73 0.03
Arrow Nikkei 15,476.60 0.34
Arrow H.Seng 24,752.09 0.04
Arrow Sensex 26,867.55 0.86

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln