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Emirates picks Rolls-Royce engines for 50 A380 aircraft PARIS/LONDON: Dubai's Emirates airline has selected British engines maker Rolls-Royce to supply 50 of the 140 A380 aircraft it has on order with Airbus, a source familiar with the matter said.It is the first time the Gulf carrier has ordered Rolls-Royce engines for its superjumbo fleet, the rest of which is powered by Engine Alliance, a joint venture of General Electric and Pratt & Whitney. Airbus and Emirates declined to comment on the deal, earlier reported by France's La Tribune newspaper. A spokeswoman for Rolls-Royce said the company did not comment on market rumours. Emirates is due to make what it has described as a major business announcement in London on Friday, but has declined to say what it will be about. The airline's president Tim Clark said in March he was considering Rolls-Royce engines for the 50 engines yet to be delivered. The expected deal comes as Airbus ponders ...

Telecom Italia's TV deal with Sky to last five years ROME: Telecom Italia's agreement to offer the full content of TV company Sky Italia on its networks will last five years, it said on Thursday, launching a service that will help boost broadband demand in Italy.The agreement, first announced about one year ago, could make Telecom Italia's broadband offering more attractive and help Sky Italia reach more clients on top of those who already receive its programmes via satellite. "The deal will last for five ...
China corporate jet sales 'dire' after graft sweep SHANGHAI: China's corporate jet market is facing a "dire" 2015, an aviation consultancy said, as slowing economic growth and a persistent crackdown on corruption batter sales.The number of corporate jets -- also called business or executive jets -- in mainland China rose 16 percent year-on-year to 297 in 2014, independent consultancy Asian Sky Group stated in its annual fleet report.That was a slowdown from a 26.7 percent surge in 2013 and little improvement is seen ...
GM is shielded from some ignition-switch suits, ruling finds NEW YORK: General Motors Co will not have to face dozens of lawsuits accusing it of concealing an ignition-switch defect that has been blamed for more than 200 deaths and serious injuries, a US bankruptcy judge ruled on Wednesday. Plaintiffs in the lawsuits said the company violated their constitutional rights by failing to disclose the defect, while GM had argued it was protected from claims on vehicles pre-dating its 2009 exit from Chapter 11 bankruptcy. ...
Renault summons board in response to French stake hike PARIS: Renault will hold an emergency board meeting on Thursday in response to French government moves to tighten its grip on the carmaker and its alliance with Nissan, a company source with knowledge of the matter said. The afternoon board session has been scheduled to discuss "shareholding changes", the source said, after France raised its Renault stake to bolster its influence over the company in a challenge to Chief Executive Carlos Ghosn. Neither Renault nor ...
Nokia agrees 15.6-bn-euro deal to buy Alcatel-Lucent PARIS: Nokia has struck a 15.6-billion-euro deal to buy its rival Alcatel-Lucent to create the world's biggest supplier of mobile phone network equipment, both firms said Wednesday.The merger of two companies that were once new technology stars but have since lost some of their lustre will produce a European champion able to take on Nokia's Swedish rival Ericsson or fierce Chinese competition.The announcement sent shares in Alcatel-Lucent plunging 15 percent on Paris's stock market, while ...
Toyota lifts new plant freeze with $1bn Mexico factory TOKYO: The world's biggest automaker Toyota, ending its freeze on building new factories, announced plans on Wednesday for a $1.0 billion plant in Mexico and another production line at a Chinese facility.The Japanese giant said it would build a factory in the central Mexican state of Guanajuato to start production of the Corolla sedan in 2019, creating about 2,000 jobs.The company also said it was adding another production line to an existing plant in southern ...

 



 
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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln