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Thomas Cook shares slump as chief executive quits LONDON: Thomas Cook's share price tumbled by more than a fifth on Wednesday after the British travel group announced the exit of chief executive Harriet Green.Green has left with immediate effect and has been replaced by chief operating officer Peter Fankhauser, the group said in a statement to the London Stock Exchange.In reaction, shares tumbled 20.09 percent to 110.2 pence in morning deals on London's second-tier FTSE 250 index, which was flat at 15,831.06 points.Shares were also hit as Thomas Cook warned in a separate earnings statement that it expects growth this year to be at a more moderate pace due to the tougher trading environment.Green said her work at the once-troubled company was done, after returning it to a sound financial footing during her two years at the helm."I always said that I would move on to another company with fresh challenges once my work was complete. That time ...

Profit at world's top diamond producer falls 44pc as ruble plunges MOSCOW: Russia's state-held Alrosa, the world's top diamond producer, said Wednesday its profits fell 44 percent year-on-year in the first nine months of 2014 due to the plunging value of the ruble.Net profit from the first nine months of 2014 fell 44 percent to 12.8 billion rubles ($277 million), Alrosa said in a statement.The group, which extracts diamonds in far northern Russia, said it suffered increased foreign exchange losses as the fall in the ruble ...
Samsung sells units and announces $2 bn share buyback SEOUL: Samsung announced Wednesday the $1.7 billion sale of stakes in four affiliates and a $2.0 billion share buyback as the South Korean giant steps up restructuring efforts ahead of a generational ownership succession. The sale of its petrochemical and defence units to the Hanwha conglomerate, which has major petrochemical holdings, is expected to be finalised in the first half of next year, Samsung Group said in a statement.The deal involves Samsung Electronics and other ...
Deutsche Telekom says in talks with BT over EE FRANKFURT: Deutsche Telekom said it and France's Orange had entered into preliminary discussions with Britain's BT Group over the Franco-German mobile telecoms joint venture EE Ltd."It is too early to state whether any transaction may occur," Deutsche Telekom said on Wednesday.It added various strategic options were being evaluated.A return to the mobile sector would complement BT's strong position in the consumer market in Britain, where it has broadband, landline and pay-TV businesses. BT is ...
Samsung sells defence, petrochemical units for $1.7bn SEOUL: Samsung Group announced Wednesday the sale of stakes in four petrochemical and defence affiliates for $1.7 billion as the South Korean giant steps up restructuring efforts ahead of a generational ownership succession. The sale to the Hanwha conglomerate, which has major petrochemical holdings, is expected to be finalised in the first half of next year, Samsung said in a statement.The deal involves Samsung Electronics and other group affiliates selling their combined stakes in defence ...
Volvo makes 400mn euro provision for EU antitrust investigation STOCKHOLM: Swedish truck maker Volvo said on Tuesday it had decided to make a provision of 400 million euros ($497 million), corresponding to 3.7 billion Swedish crowns, due to an ongoing antitrust investigation by the European Commission. Volvo said the provision would hit the group's fourth-quarter operating profit. "The proceedings are still at an early stage and there are a number of uncertainties associated with the final outcome of the Commission's investigation as well as ...
Bayer resumes efforts to sell diabetes device unit FRANKFURT: German drugmaker Bayer AG is considering a fresh attempt to sell its diabetes device business as it sharpens its focus on margin-rich healthcare sectors, two people familiar with the matter told Reuters on Tuesday. Bayer is overhauling its structure with plans to list its plastics business on the stock market to free up money for investments and acquisitions in healthcare, veterinary drugs and crop protection products. It already tried to find a buyer for ...

 



 
Index Closing Chg%
Arrow DJIA 17,827.75 0.07
Arrow Nasdaq 4,787.32 0.61
Arrow S&P 2,072.83 0.28
Arrow FTSE 6,723.42 0.09
Arrow DAX 9,974.87 0.60
Arrow CAC-40 4,382.34 0.20
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Arrow Sensex 28,438.91 0.19






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