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Coca-Cola partnership to create biggest bottler in Africa JOHANNESBURG: The Coca-Cola Company Thursday announced a partnership to form its largest soft drinks bottling company in Africa, serving "high growth" countries on the continent.The Coca-Cola company together with British drinks giant SABMiller and Gutsche Family Investment, a South Africa private firm, will join forces to form Coca-Cola Beverages Africa. "The new bottler, Coca-Cola Beverages Africa, will serve 12 high-growth countries accounting for approximately 40 percent of all Coca-Cola beverage volumes in Africa," said a statement.It will be majority owned by SABMiller with a 57 percent stake, Gutsche Family Investments with 31.7 percent and The Coca-Cola Company with 11.3 percent.According to the companies, bottling operations in 12 high-growth markets in southern and east Africa had an annual revenue of $2.9 billion.The deal is underpinned by "rising personal disposable income" and increased consumption per capita.As part of the deal, Coca-Cola will acquire SABMiller's Appletiser soft drinks and 19 other non-alcoholic brands ...

Toyota, Daihatsu announce new Takata airbag recall TOKYO: Toyota said Thursday that it is expanding a recall of cars with airbags made by auto parts maker Takata which have been linked to driver deaths, in another blow to the embattled firm.Toyota, the world's biggest automaker, said it would recall some 57,000 vehicles globally -- about 40,000 units in Japan and some 17,000 overseas -- while subsidiary Daihatsu would recall about 27,500 vehicles in Japan.Some 16 million vehicles from nearly a dozen automakers ...
German chip-maker Infineon sees growth after solid Q4 FRANKFURT: German semiconductors giant Infineon said Thursday it will pay an increased dividend for the year to September and forecasts further sales growth after a solid fourth quarter. Infineon, which runs its business year from October to September, said in a statement that its net profit rose by 27 percent to 181 million euros ($226 million) in the fourth quarter. Fourth-quarter sales were up 12 percent at 1.175 billion euros. Chief executive Reinhard Ploss said ...
Ebola vaccine from Glaxo passes early safety test NEW YORK: An experimental Ebola vaccine made by GlaxoSmithKline caused no serious side effects and produced an immune response in all 20 healthy volunteers who received it in an early-stage clinical trial, scientists reported on Wednesday in the New England Journal of Medicine.The trial, which began on Sept. 2 and will monitor the volunteers for 48 weeks, is primarily aimed at assessing how safe the vaccine is. But the immune response offered hope that it ...
Toyota recalls more cars for dangerous Takata air bags TOKYO: Toyota Motor Corp said on Thursday it would recall 57,000 vehicles globally to replace potentially deadly air bags made by Takata Corp, as a safety crisis around the Japanese auto parts maker looks far from being contained. Toyota's action follows a recall by rival Honda Motor Co for the same problem two weeks ago after revelations of a fifth death, in Malaysia, linked to Takata's air bag inflator. More than 16 million vehicles have ...
China October industrial profits down 2.1pc y/y BEIJING: China's industrial profits in October dropped 2.1 percent from a year earlier, reversing a 0.4 percent annual gain in September, data showed on Thursday. Profits rose 6.7 percent between January and October compared to the same period last year, the National Bureau of Statistics said. China's annual economic growth slowed to 7.3 percent in the third quarter, the weakest pace since the depths of the global financial crisis, and down from 7.5 percent in ...
US automakers aim for luxury market in China DETROIT: China is the new El Dorado for US automakers looking to develop sales of their luxury brands, which globally are lagging behind German and Japanese competitors.General Motors, the largest US automaker, already sells more cars in China each month than it does in its home market and expects that to continue."Our joint ventures in China are working to boost production capacity by 30 percent to more than five million units annually by 2015," GM ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln