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Ford no longer using Takata air bag ammonium nitrate inflators DETROIT: Ford Motor Co said on Monday it is not using Takata Corp air bag inflators in vehicles under development, but is not issuing a recall or expanding previously announced recalls. Ford has recalled 1.51 million vehicles globally with Takata air bag inflators, which include all of its vehicles with inflators that Takata has recalled, a Ford spokeswoman said. Affected vehicles include 2005-2014 Ford Mustang and 2005-2006 Ford GT models, for driver-side air bag inflators, as well as 2004-2006 Ford Ranger pickup trucks made in North America, for passenger-side airbag inflators. These vehicles had been recalled earlier, the Ford spokeswoman said. Ford is one of a dozen automakers that have recalled vehicles with Takata air bags in the United States. The Japanese supplier has been at the center of a safety crisis over its air bags with ammonium nitrate inflators, and the unofficial number of vehicles recalled around the world ...

US 6-month T-bills sold at highest rate since 2009 NEW YORK: The US Treasury Department on Monday sold $26 billion of six-month bills at an interest rate of 0.35 percent, which was the highest at a six-month auction since April 2009 when it hit 0.37 percent, Treasury data showed. The ratio of bids to the amount offered was 3.46, down from 3.91 the prior week and the lowest in four auctions. In the meantime, the Treasury paid investors an interest rate of 0.140 percent ...

Hungary's central bank: weak corporate lending may jeopardise recovery BUDAPEST: Hungary's central bank said on Monday that a dearth of corporate lending risks slowing economic recovery and that its latest stress tests had shown banks were in a good position to withstand financial shocks.The central bank has been urging commerical lenders to take on more corporate debt since they started deleveraging in the 2008-2009 financial crisis. Banks say demand from eligible corporate borrowers has remained weak.In its twice-yearly financial stability report, the central bank ...

Germany wants bank risks reduced, not mutualised BERLIN: Germany has a number of questions about the European Commission's plans for banks to pay more to fund a deposit guarantee and wants risks in the sector to be reduced rather than mutualised, a Finance Ministry spokesman said on Monday.The EU executive wants to set up a European Deposit Insurance Scheme (EDIS) to increase guarantees for depositors in case of a banking crisis. The Commission is due to table proposals on Nov. 24 for ...

This ‘smart ring’ can control your phone, laptop and TV Wearable tech accessories like the Apple Watch are now capturing the mainstream and the public is slowly catching on. The latest addition to such invention is ‘Neyya’s smart ring’ which can control your phone, tablets, laptop and TV as well. According to, The stainless steel smart ring, which comes in titanium and gold-plated models, lets you tap and swipe across the capacitive surface on top of the black, polycarbonate stone area. The idea is ...

HSBC cuts UAE retail, commercial bank jobs DUBAI: HSBC has cut jobs in its retail and commercial banking units in the United Arab Emirates (UAE) as the bank prepares for lower growth in the Gulf Arab state next year, a source familiar with the matter said on Monday. The bank in June announced plans to slash 50,000 jobs globally, equivalent to nearly one in five people employed by the lender, as part of a strategy aimed at combating sluggish growth across its ...

Hungary bank sector solid, weak lending a risk BUDAPEST: Hungary's central bank said on Monday the ability of local banks to withstand shocks was solid, adding however that weak lending to companies and the high stock of distressed retail mortgages continued to pose risks going forward. "There is still a risk of a creditless recovery," the central bank said in its financial stability report. "Therefore, at present it is extremely important that banks and other institutions of the financial intermediary system be able ...


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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
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WeeklyNovember 23, 2015
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