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Telenor CEO says not been in touch with potential Vimpelcom buyers OSLO: Norway's Telenor has not yet been in touch with potential buyers of its shares in Vimpelcom, the firm's chief executive told Reuters on Monday."As the new chief executive I was asked to hold a review of our strategic positions. We concluded that we're no longer served by holding a minority position in Vimpelcom," Brekke said. Asked if any contacts with buyers had been made, he said "no"."We're just announcing that we're starting the (sales) process. We know it will take time, there is no pressure," Brekke added.Copyright Reuters, 2015 ...

Air France to announce job cuts under new restructuring plan PARIS: Air France-KLM is set to unveil details on Monday of a revamped restructuring plan which unions expect will lead to some 3,000 job losses.Four unions have called a strike to coincide with the expected launch of the plan due to be presented to the central company enterprise committee at 9:30 am (0730 GMT).Air France carrier said it did know how many people would join the strike, but insisted all flights would go ahead albeit ...
Volkswagen in race to detail refit plan within a week BERLIN/BRUSSELS: Volkswagen is under pressure to give details within the next week of its plan to refit up to 11 million diesel vehicles, with its US chief due to testify to lawmakers on Thursday and German regulators also demanding swift action. The German carmaker needs to fix software that allowed it to cheat emissions tests, the discovery of which has sparked the biggest business crisis in its 78-year history. The scandal has wiped more than ...
Shell says pipeline leak halts Nigeria crude exports LAGOS: Anglo-Dutch oil giant Shell says it has halted crude exports from a key terminal in southern Nigeria because of a pipeline leak. The suspension affected crude exports from one of Nigeria's main export points, the Forcados Terminal, which has a capacity of 400,000 barrels a day. The halt in crude exports was caused by a leak in the Trans Forcados Pipeline, Shell said in a statement released on Wednesday. The group declared force majeure, ...
Australia may hit Volkswagen with millions in regulatory fines SYDNEY: Australia's competition watchdog Thursday warned that Volkswagen could be hit with up to Aus$1.1 million (US$780,000) in fines for each pollution-cheating device installed and in use in its cars in the country.The German auto giant is facing its deepest-ever crisis after admitting up to 11 million diesel cars worldwide were equipped with sophisticated software that covertly switches on pollution controls when they undergo an emissions test.The Australian Competition and Consumer Commission (ACCC) said it ...
Ford recalls F-150 pickups to fix cruise control braking WASHINGTON: US automaker Ford recalled Wednesday some of its new F-150 pickup trucks to fix a cruise control braking problem that could cause a rear-end crash.Ford Motor said it had received a report of one accident that might be related to the problem but that no injuries were reported. The second-largest US automaker recalled nearly 37,000 F-150s, model year 2015, that might be affected in North America, most of them in the United States.The problem ...
Volkswagen loses 'green car of the year' prizes NEW YORK: Volkswagen has lost its "Green Car of the Year" prize for two models that employed technology at the heart of German giant's pollution-cheating scandal, US prize organizers said Wednesday.Green Car Journal announced it was rescinding the 2009 prize for the Volkswagen Jetta TDI and the 2010 prize for the Audi A3 TDI in the wake of Volkswagen's acknowledgement that it intentionally deceived government regulators overseeing air emissions rules."These models were selected as Green ...


Index Closing Chg%
Arrow DJIA 17,050.75 0.82
Arrow Nasdaq 4,810.79 0.41
Arrow S&P 2,013.43 0.88
Arrow FTSE 6,374.82 0.61
Arrow DAX 9,993.07 0.23
Arrow CAC-40 4,675.91 0.18
Arrow Nikkei 18,141.17 0.99
Arrow H.Seng 22,354.91 0.71
Arrow Sensex 26,845.81 0.70

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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 $-1.988 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklyOctober 08, 2015
Reserves $20.05 bln