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BP says completes maintenance at major Azeri oil field BAKU: British oil major BP has completed month-long maintenance work at one of its main oil fields in Azerbaijan, BP Azerbaijan said on Friday."Planned maintenance on the Central Azeri (oil field) was completed on Nov. 27 as initially planned," said spokeswoman Tamam Bayatly. "The platform resumed operations at 22:00 (local time on Thursday)."BP said a month ago that it would replace some worn-out equipment to ensure the safety and reliability of the facility.Falling output at the main Azeri, Chirag and Guneshli (ACG) oil fields has long worried Baku.BP and its partner, Azeri state energy firm SOCAR, tried to ease those concerns last year, saying production had stabilised. Total oil output grew in 2013 for the first time since 2011 to 43.15 million tonnes.Earlier this year, however, BP said 2014 oil production at ACG might be slightly lower because of planned maintenance work at the Central Azeri and West Azeri platforms.Oil ...

Germany backs Blackberry's purchase of Secusmart BERLIN: Germany has approved Canadian smartphone maker Blackberry's planned acquisition of Secusmart, the encryption technology of which is used to protect the mobile devices of top politicians including Chancellor Angela Merkel.The deal is part of new Chief Executive John Chen's effort to enhance Blackberry's appeal for security conscious clients such as government agencies as it seeks to regain ground lost to Apple's iPhone and rival devices powered by Google's Android operating system.The German government said ...
German power giant E.ON sells US wind farms FRANKFURT: E.ON, Germany's biggest power supplier, said Friday it has agreed to sell two US wind farms to Canadian group Enbridge. E.ON "has agreed to sell an 80-percent interest in a portfolio of two wind farms in the US to Enbridge," the German group said in a statement. The two wind farms -- the 203 megawatt (MW) Magic Valley 1 wind farm near Harligen, Texas and the 202 MW Wildcat 1 wind farm near Elwood, ...
Malaysia's Sime Darby Q1 profit up 2.4pc KUALA LUMPUR: Malaysia's Sime Darby, the world's biggest listed palm-oil producer by acreage, announced on Friday a 2.4 percent rise in net profit in the July-September quarter, mainly on the back of higher output.The diversified conglomerate said net profit for its fiscal first quarter came in at 500.7 million ringgit ($148.4 million), up from 489 million ringgit the same quarter last year."The plantation division was the biggest contributor to profit on the back of improvements ...
Japan may expand air bag recalls; worried about impact on industry TOKYO: Honda Motor and Mazda Motor may have to recall another 200,000 cars in Japan to replace Takata Corp air bags if Takata complies with a US order to recall cars across the United States rather than just in humid regions.Several automakers in the US have issued regional recalls of certain models to investigate what is causing some Takata air bags to explode with excessive force. US safety regulators have ordered Takata to have those ...
Airports of Thailand annual net profit falls 25pc BANGKOK: Airports of Thailand Pcl said on Friday that net profit for the fiscal year ended September dropped 25 percent due to a decrease in foreign exchange gains and asset impairment losses. The country's largest airport operator posted a net profit of 12.2 billion baht ($371.95 million) compared with 16.3 billion baht a year earlier.Copyright Reuters, 2014 ...
Novartis says heart-failure drug wins faster review in Europe ZURICH: Novartis' new heart failure drug was granted a speedier evaluation by the European health regulator, shortening the review by 60 days, the Swiss drugmaker said on Friday.Basel-based Novartis in August reported data for LCZ696, which found the drug cut the risk of both cardiovascular death and admissions to hospital by a fifth.Novartis said it expected to ask EU regulators early next year for approval to sell the drug, which it expected to be a ...

 



 
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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