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US Toyota exec released after drug charge was dropped TOKYO: The American former Toyota executive arrested in Japan for allegedly importing a controlled drug was released after three weeks in custody Wednesday after prosecutors dropped the case against her.Julie Hamp, 55, who quit her job as global public relations head at the world's biggest carmaker just months after being appointed, emerged from a Tokyo police building and was driven away in a waiting car.She knew the painkiller oxycodone was tightly regulated in Japan, but had her father send the drugs for her knee pain, prosecutors said.Investigators decided not to prosecute her, saying that her intent was not malicious enough, and that she did not plan to use the drug to get high.They said that she has already faced "social punishment", including having resigned from the firm, a senior Tokyo prosecutor told reporters.The notion of social punishment -- publicly dragging someone over hot coals -- is common in Japan, and ...


China passenger car sales fall on economy, market woes BEIJING: Passenger vehicle sales in China fell in June as slowing growth in the world's second-largest economy and plunging share prices dampened consumer demand, an industry group said Wednesday.Sales of saloon cars, multi-purpose vehicles (MPVs), sport utility vehicles (SUVs) and minivans declined 3.2 percent in June from a year ago to 1.43 million units, the China Passenger Car Association (CPCA) said.The decrease was "a result of the stock market (coming off) the peak compounded with ...

China's Uber-style taxi app raises $2 bn BEIJING: China's top taxi hailing app Didi Kuaidi announced Wednesday it raised $2.0 billion in two weeks, after reports said US rival Uber planned to invest $1.1 billion in the country this year.Didi Kuaidi, which is backed by technology giants Alibaba and Tencent and calls itself the world's largest one-stop mobile-based transportation network, said its fundraising attracted "tremendous interest" from global investors.It is looking to raise "a further few hundred million dollars" from new investors ...

Thirty-year gilt auction draws strongest demand since Oct 2014 LONDON: British government bond prices jumped on Tuesday after a sale of 1.75 billion pounds ($2.71 billion) of 30-year gilts attracted the strongest demand for a conventional bond auction since October. The UK Debt Management Office said investors bid for 1.89 times the amount of the gilt on offer, the strongest demand for any non-inflation linked British government bond since a sale of the same gilt on Oct. 7, 2014. September gilt futures extended gains ...

Bond yields drop in calm market before crucial Greece summit LONDON: Euro zone bond yields fell broadly on Tuesday as investors appeared relaxed ahead of a meeting later in the day at which Greece and its euro zone partners will try to agree last-ditch terms for an aid package to keep Athens in the currency club. Prime Minister Alexis Tsipras is expected to present a new reform plan to other euro zone leaders in Brussels on Tuesday after Greeks rejected the conditions of a previous ...

Bank of Italy liabilities towards other central banks up in June MILAN: The Bank of Italy's liabilities towards other central banks of the euro zone rose in June to 189 billion euros ($207 billion) from 164 billion euros a month earlier, data showed on Tuesday. The Bank of Italy's position within the Target 2 system, which settles cross-border payments in the euro zone, is monitored because its rising can be a sign of financial stress. But seasonal factors also affect it.In December Italy's Target 2 position ...

Toyota-Peugeot Czech car plant raises production by 38pc PRAGUE: Toyota Motor Corp's and PSA Peugeot Citroen's car factory in the Czech Republic increased first-half production by 38 percent to 114,694 vehicles thanks to the launch of new models, the company which operates the joint venture said on Tuesday. The joint venture, known as TPCA, plans to produce more than 220,000 cars in 2015. It makes the two car companies' smaller models, like the Toyota Aygo, Peugeot 108 and Citroen C1, and exports the ...


 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln