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Toyota sees decision on sportscar project with BMW by year-end FRANKFURT: Japan's Toyota Motor Corp and Germany's BMW will decide by year end on whether to develop a common sportscar architecture, Toyota executives said on Wednesday. BMW and Toyota have for some years been collaborating on fuel cell technology, lightweight components, and on possibly jointly developing the underpinnings of a sportscar. Speaking on the sidelines of the Frankfurt auto show, Johan van Zyl, head of Toyota's European operations, said all three projects were progressing well. "They are all on schedule and on track," he told Reuters. A spokesman for the company added that a decision on the sportscar, which would spawn separate vehicles for each brand, would be made in the near term. "By the end of the year we will approve whether or not we will make it," the spokesman said. "The whole study before that, on what kind of platform, on what kind of architecture, that's been progressing ...

Telecom Italia stock conversion unlikely at current prices MILAN/LONDON: Telecom Italia is unlikely to proceed with the mooted conversion of its 6 billion savings shares into ordinary stock until the price gap widens between the two share classes, three sources close to the matter said on Wednesday. The Italian group has said it will discuss the possible conversion in the second half of 2015. Such a move would be designed to generate cash for the heavily indebted company, as savings shares do not ...

Renault chief says manufacturing know-how vital for new carmakers FRANKFURT: Renault-Nissan Chief Executive Carlos Ghosn said aggressive hiring of auto industry executives by software companies shows how vital it is for new players to understand manufacturing and vehicle design. The increased use of computing power in vehicles has sparked fears that carmakers could suffer the same fate as some computer manufacturers, who became dependent on outside companies to write an operating system - a step which saw software makers eventually harvest most of the ...

Lufthansa sees 500mn-euro profit boost from new overhaul ESSEN: Lufthansa's profits will be boosted by 500 million euros ($564 million) annually thanks to a reorganisation of the group that will strip out layers of management and give budget unit Eurowings a new boss, it said on Wednesday. The airline, long known for a focus on business customers, is expanding budget operations as it battles for market share on shorthaul routes in Europe with the likes of Ryanair and easyJet. Lufthansa's attempts to cut ...

Kenya 364-day, 182-day T-bill yields rise at latest sale NAIROBI: The weighted average yield on Kenya's 364-day Treasury bill rose to 15.768 percent at auction on Wednesday from 14.948 percent last week, the central bank said. The yield on the 182-day Treasury bill yield rose to 13.861 percent at the same auction from 12.877 percent last week. The bank received bids worth 3.07 billion shillings ($28.99 million) for the 8 billion shillings worth of bills it had offered. It accepted 2.71 billion shillings worth ...

Former RBS FX trader joins list of ex-bankers suing over dismissals LONDON: A former Royal Bank of Scotland foreign exchange trader is suing the state-backed bank over his dismissal last year, adding to a growing list of fired traders who claim they were treated unfairly. Ian Drysdale - a senior FX trader who was suspended from RBS in February 2014 and later dismissed, according to sources - has filed a claim at a London employment tribunal against RBS for unfair dismissal and breach of contract. The ...

Fed awards $82.18bn in reverse repos Wednesday NEW YORK: The Federal Reserve awarded $82.18 billion of overnight fixed-rate reverse repurchase agreements on Wednesday to 36 bidders at an interest rate of 0.05 percent, the New York Fed said on its website. On Tuesday, the Fed allotted $73.12 billion in overnight reverse repos to 31 bidders, including Wall Street dealers, money market mutual funds and mortgage finance agencies, also at an interest rate of 0.05 percent. The overnight interest rate in the repurchase ...


Index Closing Chg%
Arrow DJIA 16,790.19 0.08
Arrow Nasdaq 4,748.36 0.69
Arrow S&P 1,979.92 0.36
Arrow FTSE 6,326.16 0.43
Arrow DAX 9,902.83 0.90
Arrow CAC-40 4,660.64 0.95
Arrow Nikkei 18,186.10 1.00
Arrow H.Seng 21,831.62 0.10
Arrow Sensex 26,932.88 0.55

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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