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German new car sales up in August: data %9 FRANKFURT: New car registrations in Germany, a key measure of demand in one of the most important sectors of Europe's top economy, rose in August, data showed on Wednesday. A total of 226,300 new cars were registered last month, an increase of 6.2 percent compared with the figure for the same month last year, according to data compiled by the federal transport office KBA and released by the VDIK carmakers' federation. Compared to the first eight months of 2014, sales were up by 5.6 percent to 2.135 million vehicles, the data showed. "The positive trend on the car market is continuing," VDIK said in a statement. Copyright AFP (Agence France-Presse), 2015 ...

Lufthansa CEO defends cost cuts as pilots threaten more strikes FRANKFURT/VIENNA: Lufthansa's chief executive defended the German airline's hard line on strikes on Wednesday after pilots' union Vereinigung Cockpit (VC) threatened further walkouts in an row over retirement benefits and cost cuts. VC said earlier the German flag carrier had rejected its offer of concessions in a long-running dispute that has seen a dozen strikes over the last 18 months and cost the airline hundreds of millions of euros.Walkouts could start any time and could ...
VW's CEO Martin Winterkorn set to stay on for three more years FRANKFURT: The executive committee of Volkswagen's supervisory board has proposed extending Martin Winterkorn's contract as chief executive until the end of 2018, the company said on Tuesday, opening the door to the appointment of an outsider as chairman. Volkswagen is still looking for a permanent successor to Ferdinand Piech, the former chairman who was ousted earlier this year after clashing with Winterkorn over strategy, leading to the appointment of former union boss Berthold Huber as ...
Netflix starts Japan service in global push TOKYO: Netflix on Wednesday launched its service in Japan, the latest move in the US-based online streaming giant's global push as market competition heats up.The company said it has partnered with Japanese mobile carrier SoftBank in a joint bid to tap some 36 million households with high-speed Internet access. The announcement in Tokyo was attended by Netflix founder Reed Hastings.Rival Hulu launched in Japan several years ago before selling its local business to the Nippon ...
Volkswagen set to extend CEO's contact until 2018 FRANKFURT: German auto giant Volkswagen said on Wednesday that key members of its supervisory board want to extend the contract of the carmaker's chief executive Martin Winterkorn until 2018. The six-member steering committee "voted unanimously" to propose to the 20-strong supervisory board at its meeting on September 25 that Winterkorn be offered "a new contract until December 31, 2018," the group said in a statement. The steering committee comprises six of the most influential members ...
Foreign carmakers still driven to invest in China PARIS: Foreign carmakers that raced into China to profit from what has become the world's biggest automobile market by volume have no intention of backing out despite slowing sales as the Chinese economy shifts down.While maintaining their upbeat view of the market's potential in the medium-term, auto manufacturers have had to make some adjustments.They have lowered their forecasts for sales growth in 2015 and some have expressed concern about a looming price war, and the ...
Yahoo CEO says she's expecting twins SAN FRANCISCO: Yahoo chief executive Marissa Mayer revealed Tuesday she is expecting identical twin girls but will only take "limited time away" from running the Internet giant.In a blog post, Mayer said she and husband Zack Bogue are excited about the news and that Yahoo's board of directors has been "incredibly supportive and happy."She said the twins -- "quite a surprise" -- are likely to arrive in December."Since my pregnancy has been healthy and uncomplicated ...


ArrowDJIA 16,058.35 2.84
ArrowNasdaq 4,636.11 2.94
ArrowS&P 1,913.85 2.96
ArrowFTSE 6,058.54 3.03
ArrowDAX 10,015.57 2.38
ArrowCAC-40 4,541.16 2.40
ArrowNikkei 18,165.69 3.84
ArrowH.Seng 21,185.43 2.24
ArrowSensex 25,696.44 2.23

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln