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Singapore's GIC buys stake in anti-plagiarism software maker SINGAPORE: Singapore sovereign wealth fund GIC and a US-based private equity firm will acquire anti-plagiarism software maker iParadigms for $752 million, the firms said Tuesday. Oakland, California-based iParadigms makes the cloud-based software Turnitin, which is used by universities around the world to review submitted works for plagiarism and accurate citations. In a joint statement, GIC and New York-based Insight Venture Partners said the deal to acquire iParadigms will likely close in the third quarter of 2014, but did not give a breakdown of the investment. Investment firm Warburg Pincus is currently the majority owner of iParadigms. "As a leading global investor, we are enthusiastic about the opportunity to partner with Insight and management to help iParadigms further expand its international footprint," Eric Wilmes, Head of the North America Direct Investments Group at GIC Special Investments, said in the statement. Deven Parekh, managing director of Insight Venture Partners, lauded iParadigms for ...

Ford shows off 'smart' Mustang at Taiwan tech show TAIPEI: US auto giant Ford showed off its new Mustang at Asia's biggest tech fair Tuesday, billing it as "the smartest Mustang to date", with voice controls and early warning collision systems.Due to go on sale in Asia-Pacific in 2015, the slick sports car can connect to drivers' mobile apps using a platform which will be introduced to Taiwan, New Zealand and Thailand next year for the first time, the company announced at the Computex ...
Samsung Everland seeks IPO to boost group restructuring SEOUL: Samsung Everland Inc. said Tuesday it would seek an initial public offering (IPO) next year, spurring moves to restructure the family-run Samsung conglomerate ahead of a generational ownership succession.The hitherto-unlisted Samsung Everland has a key place in the highly complex system of affiliate cross shareholdings that allow Samsung Electronics chairman Lee Kun-Hee and his family to control the giant group with only a small stake.Lee's health problems, which saw him hospitalised last month after ...
Google waxes poetic about Chromebook spread SAN FRANCISCO: Google on Monday used painful prose to proclaim that Chromebooks designed to push computing into the 'cloud' are heading for more countries."Chromebooks are coming to nine more nations; to improve computing for all generations," Google marketing executive and 'occasional versifier' David Shapiro said in a rhyming blog.Subsequent verses were dedicated to Chromebooks going to Norway, Denmark, Chile, Mexico, Spain, Italy, Belgium, New Zealand, and the Philippines."When Chromebooks in these countries alight," Shapiro said ...
Berlin airport fiasco turns to farce BERLIN: The opening of a new international airport to serve Berlin is now two years overdue and counting -- a multi-billion-euro planning disaster that's become a running joke in the German capital. The planned June 3, 2012 inauguration of the new hub known as BER was to replace two smaller airports, Tegel and Schoenefeld, vestiges of the city's Cold War division.Both facilities are bursting at the seams amid a tourism boom in trendy Berlin and ...
India plant factory orders hit 3-month peak NEW DELHI: Indian manufacturing orders hit a three-month high in May, according to a business survey on Monday that also flagged stubborn inflation risks on the eve of a key monetary policy-setting meeting.The HSBC Purchasing Managers' Index (PMI) survey, keenly watched as a portent of industrial expansion and overall economic health, comes as India looks to new Prime Minister Narendra Modi to engineer a growth rebound in Asia's third-largest economy."The momentum in the manufacturing sector ...
GM finalizes number of trucks, sport vehicles DETROIT: General Motors Co on Monday finalized the number of newer-model large pickup trucks and sport utility vehicles it is recalling because the air bags may not deploy, lowering the number of affected vehicles.The No. 1 US automaker, which is dealing with the recall of 2.6 million cars with defective ignition switches linked to at least 13 deaths, said it was recalling 344 of the trucks in North America, most in the United States.On May ...


Index Closing Chg%
Arrow DJIA 17,131.86 0.28
Arrow Nasdaq 4,838.65 0.17
Arrow S&P 2,017.46 0.13
Arrow FTSE 6,371.18 0.70
Arrow DAX 10,119.83 0.23
Arrow CAC-40 4,688.70 0.27
Arrow Nikkei 18,438.67 1.67
Arrow H.Seng 22,730.93 1.21
Arrow Sensex 26,904.11 0.65

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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