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Vodafone plans up to 1,300 job cuts in Spain MADRID: British telecom giant Vodafone said Tuesday it planned to lay off up to 1,300 workers, about a fifth of the workforce, from its Spanish division which bought cable provider ONO last year.Vodafone Espana and ONO said they would launch a month of negotiations with labour unions in September to reach "the best agreement possible for employees and both companies" on the layoffs."The collective dismissal procedures will affect a maximum of 1,300 people" out of a total of around 6,100 in Vodafone and ONO in Spain, it said in a statement."The procedures are part of the integration process of Vodafone and ONO."Vodafone bought phone and Internet provider ONO for 7.2 billion euros ($8.0 billion) last year and has been integrating ONO's cable network into its own wireless services.It said the layoffs were necessitated by the merger and essential investments as well as falling earnings by both companies in a market ...

VW overtakes Toyota as world's biggest carmaker MUNICH/TOKYO: Volkswagen overtook Toyota as the world's largest carmaker by sales in the first half, achieving its long-held ambition three years ahead of target.Japan's biggest automaker said on Tuesday it sold 5.02 million cars between January and June, a 1.5 percent decline on year-ago levels and fewer than the 5.04 million deliveries VW reported on July 17.Toyota, due to announce first-half earnings next Tuesday, said its six-month sales were dragged down by a slowdown in ...
BHP cutting 37pc of Melbourne office staff SYDNEY: Global mining giant BHP Billiton is cutting 37 percent of the staff at its Melbourne headquarters, Sky News Australia reported. BHP has been working to create greater efficiencies, with its latest production report showing double-digit price falls for all of its main commodities.Copyright Reuters, 2015 ...
BP falls into Q2 loss on oil spill charge, price slump LONDON: BP said Tuesday it sank into the red in the second quarter, after taking a vast $10.8-billion (9.8-billion-euro) hit on costs linked to the deadly 2010 Gulf of Mexico oil spill.The British energy giant's performance also took a heavy knock from slumping global oil prices.Losses after taxation stood at $5.82 billion (5.26 billion euros) between April and June, BP said in a results statement. That contrasted with net profit of $3.37 billion in the ...
Toyota falls behind VW in world's biggest automaker race TOKYO: Toyota has fallen behind Volkswagen in the race for the world's biggest automaker title, figures showed Tuesday, as the German giant outsold its Japanese rival in the first half of the year.Toyota said it sold 5.02 million vehicles worldwide between January and June, falling below earlier figures from Volkswagen of 5.04 million units shifted in the same period.US-based General Motors was sitting in third spot with 4.86 million in sales.Camry and Prius maker Toyota ...
Android flaw lets hackers break in with a text message SAN FRANCISCO: Cyber security firm Zimperium warned of a flaw in the world's most popular smartphone operating system that lets hackers take control with a text message."Attackers only need your mobile number, using which they can remotely execute code via a specially crafted media file delivered via MMS (text message)," Zimperium Mobile Security said in a blog post."A fully weaponized successful attack could even delete the message before you see it. You will only see ...
China's Baidu shares dive on earnings miss SAN FRANCISCO: Baidu shares skidded Monday after the Chinese Internet colossus reported earnings shy of most market expectations.Baidu's profit for the second quarter was 3.66 billion yuan ($591 million), up slightly from 3.55 billion yuan in the same quarter a year earlier.Sometimes referred to as the Chinese answer to Google, Baidu reported revenues rose 38 percent from a year earlier to 16.57 billion yuan.But the results were below market forecasts, and Baidu shares tumbled 8.69 ...


Index Closing Chg%
Arrow DJIA 17,440.59 0.73
Arrow Nasdaq 5,039.78 0.96
Arrow S&P 2,067.64 0.58
Arrow FTSE 6,505.13 1.13
Arrow DAX 11,056.40 2.56
Arrow CAC-40 4,927.60 2.57
Arrow Nikkei 20,350.10 0.95
Arrow H.Seng 24,351.96 3.09
Arrow Sensex 27,561.38 1.96

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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln