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Germany's BMW among suitors for ANZ car finance unit SYDNEY: Germany's BMW AG, Australia's Macquarie Group and a host of US private equity firms are expected to bid for Australia and New Zealand Banking Group's more than $6 billion car and equipment loan book, a source said on Monday.The automaker and Australia's top investment bank have requested information memorandums for the sale, as have buyout firms TPG, Blackstone and Carlyle, said the source who is involved in the process.The sale is expected to fetch a price higher than the A$8.3 billion ($6.35 billion) book value of the loans, the source told Reuters. The strong global interest, even as world financial markets tumbled on concerns of a Greek default, suggests the sale will achieve its purpose of helping Australia's third-largest lender meet tough new requirements for higher cash reserves. Representatives of BMW, Macquarie, TPG, Carlyle and Blackstone were not immediately available to comment. Another source involved in the process told ...

Honda revises last year earnings due to airbag recall TOKYO: Japanese car giant Honda revised down its annual earnings for the last fiscal year on Friday, blaming the expanding recalls of faulty airbags made by Takata, which have been linked with eight deaths.The nation's third biggest automaker said its net profit for the year to March this year was 493 billion yen, or $4 billion, falling 14.1 percent from the previous year.The level compared with the originally announced 522.7 billion yen that would have ...
Air France denies reports of sweeping job cuts PARIS: Air France on Friday denied a report that it was preparing to lay off 3,300 employees as part of continuing cost cutting at the French flag carrier.An email sent by the company said Air France "formally denies information published in the press" Friday, when the Le Monde daily reported the airline was preparing "3,000 ground crew departures and 300 among pilots.""These job cuts will be accompanied by the withdrawal of 20 planes from the ...
Honda revises last year earnings due to airbag recall TOKYO: Japanese car giant Honda revised down its annual earnings for the last fiscal year on Friday, blaming the expanding recalls of faulty airbags made by Takata, which have been linked with eight deaths.The nation's third biggest automaker said its net profit for the year to March this year was 493 billion yen, or $4 billion, falling 14.1 percent from the previous year.The level compared with the originally announced 522.7 billion yen that would have ...
Apple Watch lands in competitive S. Korea market SEOUL: Apple's first smartwatch landed in South Korea, one of the world's most competitive markets Friday, drawing a good response from fans, but analysts cast doubt on its long-term success there, citing a tough challenge from local brands.Eager South Korean consumers braved the onset of monsoon rains and concerns over a MERS outbreak, which has killed 31 people, to form long queues outside stores selling the Apple Watch wearable device."I'm very happy," said Lee Woo-Min, ...
Tesco beats forecasts with improved quarterly trading LONDON: Britain's biggest supermarket Tesco showed a tentative recovery in its key home market was starting to move onto a stronger footing, with the sales decline in its first quarter coming in ahead of forecasts.A trading update on Friday, published ahead of a potentially stormy annual shareholders' meeting later in the day, said sales at British stores open over a year fell 1.3 percent over the 13 weeks to May 30, the first quarter of ...
Toyota, Nissan to recall more than 3mn more cars over airbags TOKYO: Toyota and Nissan, Japan's two top automakers, on Thursday expanded their global car recall by more than three million vehicles to replace potentially deadly airbags that have already been linked to eight deaths.Toyota said it will call back an additional 2.86 million vehicles "equipped with certain front passenger airbag inflators" worldwide, while Nissan said it would recall 198,000 units.Smaller rival Japanese automaker Mitsubishi also said Thursday it would recall 120,000 vehicles.Faulty airbags made by ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln