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HSBC says facing French criminal probe over 'SwissLeaks' LONDON: British banking giant HSBC said Thursday it is facing a French criminal probe over its Swiss private banking arm, weeks after "SwissLeaks" allegations it had helped clients hide billions from the taxman.HSBC said in a statement that "it has been placed under formal criminal investigation by the French magistrates in connection with the conduct of HSBC's Swiss Private Bank in 2006 and 2007 for alleged tax-related offences".The probe is in addition to one launched by French authorities last year into HSBC's Swiss Private Bank.That unit was caught up in the so-called "SwissLeaks" affair: revelations that the HSBC unit allegedly helped over 120,000 clients to hide 180.6 billion euros ($193.6 billion) from tax authorities.The revelations were made in February by international newspapers led by France's Le Monde after they studied stolen documents supplied by former HSBC IT employee Herve Falciani.They came among growing evidence that pledges by banks to halt ...

Bank of Japan holds off further easing measures TOKYO: The Bank of Japan held off further easing measures on Wednesday as it struggles to drag up the country's flatlining inflation that is defying a massive stimulus programme launched two years ago.The central bank stayed pat on its record stimulus programme, which is adding about 80 trillion yen ($663 billion) to the money supply every year.After a two-day meeting, the BoJ said in a statement consumer inflation was likely to be about zero "for ...
Turkish central bank opens 1bn lira repo auction ISTANBUL: Turkey's central bank opened a 1 billion lira ($386 million) one-week repo auction on Wednesday, bank data showed.Copyright Reuters, 2015 ...
BNP Paribas appoints new country head for Malaysia KUALA LUMPUR: BNP Paribas, France's largest bank, said on Wednesday it appointed Philippe Aroyo as country head for Malaysia and chief executive of BNP Paribas Malaysia Bhd with immediate effect.Aroyo, who has been with BNP for 26 years, takes over the role from Krishna Chetti, who will move to take on a new position.Prior to the new appointment, Aroyo was the country head for BNP Paribas United Arab Emirates (UAE) since 2008Copyright Reuters, 2015 ...
Australia court rules in ANZ's favour on credit card fees SYDNEY: An Australian court ruled in favour of one of the country's biggest banks on Wednesday in a long-running case over credit card fees, but lawyers for a class action hoping to reclaim millions vowed to fight on.In early 2014, Justice Michelle Gordon of the Federal Court in Melbourne found that ANZ's credit card late fees of up to Aus$35 (US$26.85) far exceeded the true costs of dealing with late payments and were illegal.But a ...
Hundreds of flights scrapped as French air traffic controllers strike PARIS: Hundreds of flights to and from France were expected to be cancelled Wednesday as air traffic controllers launched a two-day strike over working conditions.The civil aviation authority has asked airlines to scrap around 40 percent of flights, warning of "disruption across the whole country."Flag carrier Air France warned of "very severe disruption" to its flight schedule. Although it pledged to operate "almost all" long-haul flights, medium and short-haul services would be badly affected, it ...
Australia's ANZ Bank wins appeal on landmark unfair fees class action MELBOURNE: Australia and New Zealand Banking Group on Wednesday won an appeal against a court ruling that some of its credit card fees were unfair, after thousands of disgruntled customers launched Australia's biggest ever class action.The ruling is a blow to the hopes of almost 200,000 customers involved in class actions against Australia's largest banks to receive millions of dollars in compensation for fees and charges they claim are unlawful.The ANZ case is the first ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln