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Apple Watch could need time: analysts SAN FRANCISCO: Is Apple Watch a dud?Nearly three months after the launch of Apple's fashionably smart wrist wear, some analysts say it's not a mainstream mega-hit. But others see promise in its popularity with Internet-savvy young people.Media outlets last week jumped on a study by research firm Slice Intelligence suggesting that, based on a large sampling of email receipts in the United States, orders for Apple Watch have plunged 90 percent since the week that the wearable computing gadget made its debut.The estimate did not factor in data about Apple Watch sales at real-world stores. It remains to be seen whether the famously tight-lipped technology company will provide insights into Apple Watch sales when it releases a quarterly earnings report on Tuesday.While not sounding an alarm, BMO Capital Markets analysts put out word to investors that they were "disappointed" and reduced their estimate for Apple Watch sales in the coming ...

Toshiba bosses blamed for accounting scandal, panel warns: media TOKYO: Top executives of Japanese conglomerate Toshiba were systematically involved in overstating more than $1.2 billion in profits, the firm's independent panel has warned in a report to be released on Monday, according to local media.The firm has hired an outside team of investigators to look into its accounting irregularities, which were unveiled after the nation's securities watchdog probed its balance sheet earlier this year.Toshiba said last week the third-party panel, headed by a former ...

Greece's Eurobank to buy Alpha Bank branches in Bulgaria: source ATHENS: Greece's Eurobank will buy out the Bulgarian branches of another top Greek lender Alpha Bank for the symbolic price of one euro, a Eurobank source said Friday."The agreement is all drawn up," the source said, adding that the boards of Eurobank, Greece's number three lender, and number four Alpha Bank would separately meet later on Friday to approve it.Around 80 Alpha branches will be absorbed by Eurobank's Bulgarian subsidiary Postbank."Postbank currently has 180 branches. ...

Ericsson Q2 op profit tops forecasts STOCKHOLM: Mobile telecom equipment maker Ericsson posted second-quarter sales and operating profit above market expectations on Friday as business stabilised in North America. Operating profit was 3.6 billion Swedish crowns ($422 million) compared to 4.0 billion in the year-ago quarter and above a mean forecast of 2.8 billion crowns in a Reuters poll of analysts. Sales at Ericsson, the world number one mobile network equipment maker, were 60.7 billion crowns, above a forecast of 58.6 ...

Samsung wins approval for key merger after bitter fight SEOUL: South Korea's dominant Samsung conglomerate -- run by the country's wealthiest family -- secured shareholder approval Friday for the crucial merger of two affiliates, seeing off a formidable challenge from investor activists led by a combative US hedge fund.The victory, following a bitterly contested proxy battle, will come as an enormous relief to the Samsung Group's founding Lee family as it seeks to restructure the multi-headed corporation ahead of a generational transfer of power ...

UK interest rates could rise at turn of year: BoE boss LONDON: Bank of England governor Mark Carney has indicated that Britain's record-low interest rates could start to rise at the turn of the year.The BoE chief, speaking at Lincoln Cathedral late Thursday, said he expected the key rate to climb over the next three years from its current level of 0.50 percent -- where it has stood for more than six years to stimulate growth after the global financial crisis.Carney cautioned that rates would rise ...

Bank of Cyprus offloads Russian subsidiary NICOSIA: Bank of Cyprus, the EU member's largest lender, announced Friday it has sold off its Russian subsidiary Uniastrum as part of what it called a "de-risk strategy".BoC said the sale follows a similar deal in Ukraine and completes the disposal of the group's overseas banking subsidiaries identified for sale.It reached agreement to sell 80 percent of its 120 Uniastrum branches and other Russian loan exposures to Artem Avetisyan, the majority shareholder in Bank Regional ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln