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Deutsche Bank's new chief wants time to decide on strategy FRANKFURT: Deutsche Bank's new chief, John Cryan, said Wednesday that he intends to take until the autumn to consider how to tackle the current challenges facing Germany's biggest lender. Without calling into question his predecessors' strategy, which he himself approved as member of Deutsche Bank's supervisory board, the 54-year old Briton said he felt it "right to take the summer and early autumn to decide how to best execute those decisions. "We will therefore update the market with further details by the end of October," he said in a statement to the bank's employees.Deutsche Bank announced last month that its two co-chief executives were stepping down in the face of a wave of scandals and the company's failure to meet profit targets this year. Anshu Jain stood down at the end of June, while Juergen Fitschen plans to stay on in the job until after Deutsche Bank's annual shareholder meeting ...

Japan business confidence hits best level since March 2014: BoJ TOKYO: Confidence among major Japanese manufacturers increased in the three months to June, beating expectations to rise to its highest level in more than a year, a Bank of Japan survey showed Wednesday.The central bank's closely-watched quarterly Tankan report showed the confidence index stood at plus 15 in June, up from plus 12 for the two previous surveys.The reading beat economists' median forecast that the index would stay flat at plus 12 and marked the ...
Chinese media see international bank as diplomatic coup BEIJING: The creation of the Chinese-led Asian Infrastructure Investment Bank is a bigger coup for Beijing than its hosting of the 2008 Olympics, state-run media said Tuesday after 50 countries signed its legal framework.China was spurred to create the AIIB after "unfair treatment" by Washington-led institutions, the Global Times said in an editorial, apparently referring to the World Bank and International Monetary Fund.The AIIB has been viewed by some as a rival to the World ...
ECB chief Mario Draghi in front line of Greek crisis FRANKFURT: European Central Bank chief Mario Draghi famously vowed in 2012 to "do whatever it takes" to save the euro.As the single currency area hurtles towards a possible "Grexit" three years later, the 67-year-old central banker is seeing that pledge put to the test.With the debt-battered Greek economy essentially cut off from normal financing, the breakdown of talks between Athens and its creditors last weekend has placed Draghi -- who insists the ECB is not ...
BNP Paribas in talks to buy GE's European fleet management business PARIS: BNP Paribas's Arval unit signed a memorandum of understanding to buy GE Capital's European fleet management business, the group said in a statement on Monday.The completion of the transaction is expected in the fourth quarter of this year, The French bank said.Copyright Reuters, 2015 ...
Framework for China-led international bank signed BEIJING: Countries from five continents formally signed up to the China-led Asian Infrastructure Investment Bank at a ceremony on Monday, officials said, as Beijing steps up its global diplomatic and economic role.Australia was the first country to sign the articles of association creating the AIIB's legal framework in the Great Hall of the People, an AFP journalist saw, followed by 49 other founding members. Seven more are expected to do so by the end of ...
ECB considers tightening emergency funding for Greek banks FRANKFURT: European Central Bank policy setters are considering keeping Emergency Liquidity Assistance open to Greek banks on Monday but imposing a higher valuation discount on the security they offer in return for the funding, people familiar with the matter said. If the haircut on the assets Greek banks give for Emergency Liquidity Assistance is increased, it would, however, curb their use of such finance. "There is a possibility of an extension," said one of the ...


Index Closing Chg%
Arrow DJIA 17,730.11 0.16
Arrow Nasdaq 5,009.22 0.08
Arrow S&P 2,076.78 0.03
Arrow FTSE 6,585.78 0.67
Arrow DAX 11,058.39 0.37
Arrow CAC-40 4,808.22 0.57
Arrow Nikkei 20,539.79 0.08
Arrow H.Seng 26,064.11 0.83
Arrow Sensex 28,092.79 0.53

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln