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Judge approves $450mn deal in Apple ebook suit SAN FRANCISCO: A US judge signed off Friday on Apple's $450 million legal deal to compensate consumers harmed by an illegal price-fixing conspiracy for electronic books.The settlement negotiated to avoid trial in the civil case brought by authorities in 33 states calls on Apple to reimburse consumers to the tune of about $400 million and then pay legal costs and fees.The settlement was deemed by the court to be "fair, reasonable and adequate."In an unusual twist, the agreement is contingent on the upholding of a verdict in a July 2013 federal court ruling that Apple violated antitrust laws by orchestrating a conspiracy with five publishers to raise e-book prices.Apple is appealing the decision.If Apple's federal conviction is overturned, no money will be paid. In the case of a retrial, Apple will pay a reduced settlement figure.Apple declined to comment for this report."This settlement proves that even the biggest, most powerful ...

Bouygues shares soar on Altice interest in telecoms subsidiary PARIS: Shares of French group Bouygues rose on Friday after Altice, the parent company of cable operator Numericable, showed interest in its telecoms subsidiary, signalling another possible tie-up in France's mobile phone market.In morning trade in Paris, the stock climbed 3.66 percent to 29.89 euros in a market up 0.94 percent.Altice, which signalled its interest in Bouygues Telecoms on Thursday, is currently finalising its acquisition of another French mobile phone operator SFR."At this time, we ...
Skymark Airlines shares soar 25.6pc on JAL tie-up report TOKYO: Shares in Skymark Airlines soared 25.6 percent Friday on a report that the troubled Japanese carrier was in tie-up talks with Japan Airlines (JAL).The Tokyo-listed stock skyrocketed 50 yen to at 245 yen ($2) after the leading Nikkei business daily's online edition said the firm was negotiating code-sharing with JAL on some routes.The deal would broaden Skymark's sales channels, as it now mainly sell tickets through its website, the Nikkei said.A spokeswoman for Skymark, ...
Telekom Slovenia 9-month profit down 19pc LJUBLJANA: Slovenia's leading telecom operator Telekom Slovenia, which is slated for privatisation, posted a 19 percent drop in nine-month group net profit over the same period last year, the company said on Thursday.Net profit was 37.7 million euros ($47.3 million) while revenues fell to 579.3 million euros versus 599.1 million a year ago.Telekom is the most prized of the 15 companies the government put up for sale last year, with a market value of about ...
Saudi Kayan signs two Islamic financing deals totalling $700mn DUBAI: Saudi Kayan Petrochemical Company , an affiliate of Saudi Basic Industries Corp (SABIC) , has signed two Islamic financing deals totalling 2.63 billion riyals ($700 million), it said in a statement on Thursday.It signed a 1.5 billion riyal agreement with National Commercial Bank, the kingdom's largest lender by assets, for up to 15 years, and a 1.13 billion riyal facility with Samba Financial Group, another Saudi Arabian lender, for up to 10 years.Both deals ...
Hyundai shipyard union stages first strike in 18 years SEOUL: Unionised workers at South Korea's Hyundai Heavy Industries staged their first walkout in 18 years Thursday as the world's largest shipbuilder reels from a protracted business slump.The shipyard's union said thousands walked out from a scheduled one hour of extra work after their regular eight-hour shift over pay. It added warned it would consider an all-out strike unless its demands are met. "After today's walkout, we will step up our action and may launch ...
Apple supplier Hon Hai plans new display facility in Taiwan TAIPEI: Taiwan's tech giant Hon Hai said Thursday it plans to invest around Tw$80 billion ($2.6 billion) for a new smartphone display facility on the island, reportedly to manufacture mainly Apple products.Hon Hai founder Terry Gou said the company and its unit, flat-panel maker Innolux Corp., will jointly invest in the facility in southern Kaohsiung city which will produce displays used in smartphones."We hope to make mobile phones here. Innolux is lacking in the area ...

 



 
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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