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China and Peru agree to study transcontinental rail link BEIJING: China and Peru have agreed to study the feasibility of a controversial 5,300 km (3,300 miles) transcontinental railroad that will connect Peru's Pacific coast with Brazil's Atlantic coast, China's official Xinhua News Agency reported.The agreement came as Chinese Premier Li Keqiang arrived in Peru, on the third leg of a Latin America visit. This week, Brazil and China agreed on a feasibility study for the rail link.In talks with Peruvian President Ollanta Humala on Friday, Li called for cooperation in the oil, clean energy, mining, agriculture, forestry and fishery sectors, the news agency said.Li also said the two governments should cooperate on financial issues, including a method to carry out trade settlement in local currencies, and a currency swap scheme.The proposed transcontinental railway would span the Andes to the Pacific and reduce the cost of shipping grain and minerals to Asia.China and Latin America would each benefit from the ...

South Africa's Eskom implements rolling power cuts on Saturday JOHANNESBURG: South Africa's state-owned power utility Eskom will cut as much as 2,000 megawatts from the national grid on Saturday because of a shortage of generating units, the company said.The utility cuts power to prevent demand from surging past available supply as it embarks on maintenance of its old stations.Copyright Reuters, 2015 ...
Google aims to patent child toy that pays attention SAN FRANCISCO: Google has filed a patent for toys that pay attention to who is in a room and can interact with other media devices.The US Patent and Trademark Office shared diagrams Thursday depicting what resembled rabbit and bear toys with microphones in their ears, cameras in their eyes, speakers in their mouths and motors in their necks.The envisioned devices were described as being able to listen for someone, turn a head to make "eye ...
Probe into GM recall uncovers 'criminal wrongdoing': report NEW YORK: General Motors is negotiating what could be a record fine with US justice authorities after a federal investigation into a defect linked to at least 104 deaths uncovered criminal wrongdoing, the New York Times reported Friday.The Times cited people familiar with the inquiry as saying that a settlement likely to surpass the $1.2 billion paid out by Toyota over sudden unintended acceleration could be reached in the next few months.The report said GM ...
Lufthansa mulls spot medical checks on pilots: CEO FRANKFURT: Lufthansa's chief said Friday the German airline is considering the possibility of regular spot medical checks for pilots, after one deliberately crashed a jet over the French Alps in March, killing all 150 on board."Unannounced checks" could be a "possible means" to ascertain whether pilots were regularly taking anti-depressives, which could provide an indication of potential psychological problems, CEO Carsten Spohr told the daily Frankfurter Allgemeine Zeitung. The surprise nature of the tests would ...
Audi says to enhance Chinese connected-car offerings with Baidu NECKARSULM: Audi said on Friday its planned cooperation with China's web services provider Baidu aims to enhance connected-car offerings in the world's largest auto market.Based on a partnership agreed in January, the two companies will jointly develop navigation map data, positioning algorithms and point-of-interest functions, Audi said in a statement published ahead of its annual shareholder meeting in Neckarsulm, Germany.Audi and Baidu agreed a memorandum of understanding in January and will sign a contract on ...
HP sells stake in China unit for $2.3bn NEW YORK: Hewlett-Packard announced Thursday it was selling a 51 percent stake in its China-based server business, creating a joint venture with Tsinghua Holdings that will be a sector leader in China.The US tech giant said it would sell the stake for $2.3 billion, creating a new business called H3C worth $4.5 billion that would be the leader in China in computer servers, storage and technology services.The deal brings together HP with the investment arm ...


Index Closing Chg%
Arrow DJIA 18,232.02 0.29
Arrow Nasdaq 5,089.36 0.03
Arrow S&P 2,126.06 0.22
Arrow FTSE 7,031.72 0.05
Arrow DAX 11,815.01 0.42
Arrow CAC-40 5,142.89 0.07
Arrow Nikkei 20,264.41 0.30
Arrow H.Seng 27,992.83 1.70
Arrow Sensex 27,957.50 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 $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln