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Baker Hughes confirms merger talks with Halliburton  NEW YORK: US oil services company Baker Hughes said Friday it was in preliminary talks with Halliburton on a possible merger, confirming media reports on the negotiations.In a brief statement, Baker Hughes, the world's third-biggest company in the oil field services sector, said the discussions "may or may not lead to any transaction" with Halliburton Company, the world's second-largest.Copyright AFP (Agence France-Presse), 2014

Google joins fight against illegal fishing SYDNEY: Technology giant Google has taken the battle against illegal fishing online, with the company unveiling a tool in Australia on Friday that harnesses satellite data to track thousands of boats in real time.A prototype interactive tool, which was developed in conjunction with environmental activists SkyTruth and marine advocacy group Oceana, was unveiled at the once-a-decade World Parks Congress in Sydney.The tool is the latest salvo from environmentalists against illegal fishing, which is currently estimated ...

Asiana service to San Francisco suspended for 45 days SEOUL: South Korea on Friday ordered a 45-day suspension of Asiana Airlines' service to San Francisco as a penalty for one of its planes crashing there last year, the transport ministry said.Asiana said it would appeal the decision, citing the inconvenience for passengers booked on the once-a-day service between Incheon and San Francisco.An Asiana Airlines Boeing 777 crashed at San Francisco International Airport in July last year, killing three passengers and injuring more than 180.In ...

Swiss banker indicted for helping clients hide money NEW YORK: The US Justice Department indicted a Swiss banker Thursday for helping US taxpayers hide millions of dollars in assets in offshore accounts over nearly two decades to avoid paying taxes.The department said that Martin Dunki, working for the small bank Rahn & Bodmer Co., continued to help clients hide money even after the US government fined Swiss bank UBS $780 million in 2009 for doing the same.Beginning in 1995 Dunki helped US clients ...

Brazil oil giant Petrobras delays 3Q results over graft probe SAO PAULO: Scandal-tainted Brazilian oil giant Petrobras said Thursday it was delaying release of its third-quarter results because of ongoing corruption investigations involving the company."Petrobras will not be releasing its accounts for the third trimester of 2014...," a statement said. Preliminary results would be released on December 12 but no date for definitive figures was given."Petrobras is going through a unique moment in its history due to investigations regarding allegations of conspiracy, embezzlement and corruption ...

Glencore Xstrata to shut Australian mines over Christmas SYDNEY: Mining and commodities giant Glencore Xstrata said Friday it would close its Australian coal mines for three weeks during Christmas owing to weak prices and oversupply.The shutdown will start in mid-December and affect the company's 13 mines, which have 8,600 workers and produce more than 80 million tonnes of thermal and coking coal, across the states of New South Wales and Queensland."Glencore has decided to implement production shut downs across our Australian coal operations ...

Takata hit with US criminal probe over exploding airbags TOKYO: Takata confirmed Friday that US justice authorities have opened a criminal investigation into the embattled Japanese autoparts firm over exploding airbags linked to at least five driver deaths.The Tokyo-based company said it was "dealing with" a subpoena from a grand jury in New York targeting the defect, but it declined to give further details."We have received it," a Takata spokesman said."Of course, we are dealing with it. We have also received an instruction from ...


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln