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Bouygues Telecom eying up to 2,000 job cuts: paper PARIS: French telecoms operator Bouygues Telecom may lay off more than 20 percent of its workforce after failing in its bid to take over rival SFR, French newspaper Le Figaro reported on Sunday.Unions fear that up to 2,000 jobs are on the line out of 9,000 at the group, although no announcement is expected before European Parliament elections on May 25, the daily said in an excerpt from its edition for Monday.Bouygues failed in March to win a takeover battle for Vivendi's telecoms business SFR, losing out to rival Numericable.Copyright Reuters, 2014 ...

UK labs play shrinking role in AstraZeneca drug portfolio LONDON: How British is AstraZeneca? With a French chief executive, Swedish chairman, 40 percent of its sales in the United States and 87 percent of its staff overseas, the answer is not simple. Formed from an Anglo-Swedish merger 15 years ago, even its roots are only half British. Yet a $106 billion takeover bid from US group Pfizer has forced politicians at Westminster to line up in defence of British jobs and science. The pharmaceuticals ...
Polar finds temporary solution to currency hurdle CARACAS: Venezuela's largest private company Empresas Polar said on Saturday it was re-starting production of pasta halted over delays in foreign currency allocations from the government.Polar's suspension of its pasta plant in central Maracaibo city last month was symptomatic of both private businesses' disputes with President Nicolas Maduro's government over currency controls and Venezuela's shortages of staples.The firm said, however, that a temporary solution had been found thanks to the purchase of 6,000 tonnes of ...
Under fire, Pfizer hits back as weighs next Astra move LONDON: U.S. drugmaker Pfizer fought back on Saturday against criticism that its planned takeover of rival AstraZeneca would damage Britain's science base by saying strong UK research was a key reason for the deal.Given its record of big job cuts after past acquisitions, the U.S. group has come under fire in Britain, the United States and Sweden as it weighs its next move to buy AstraZeneca, which could be a sweetened offer next week.Chief Executive ...
Reliance, partners take Indian govt to arbitration over gas pricing MUMBAI: India's Reliance Industries Ltd and its partners in a gas block, BP Plc and Niko Resources, said on Saturday they were taking the Indian government to arbitration seeking implementation of higher gas prices.The government in June last year approved a formula, linking prices of locally produced gas with global benchmarks, that could have nearly doubled gas prices from the current $4.20 per mmBtu from April 1.The Indian Election Commission, however, in March asked New ...
China vehicle sales rise 8.8pc in April BEIJING: China's vehicle sales increased 8.8 percent year-on-year in April, an industry association said on Friday, as foreign automakers, including Ford Motor Co., continue to cash in on local demand, despite the country's slowing economy.China sold 2 million vehicles in the month in total, the China Association of Automobile Manufacturers reported, led by an 11.6 percent year-on-year increase in cars to 1.6 million.Ford said this week that sales at its Chinese joint ventures increased 29 ...
US airliner nearly hit drone: FAA WASHINGTON: A US airliner nearly collided with a remotely controlled aircraft as it approached a Florida airport in March, the Federal Aviation Administration revealed Friday.The incident took place on March 22 as a US Airways 50 seat CRJ200 jet flying from Charlotte, North Carolina to Tallahassee, Florida came very close to the drone five miles (eight kilometers) from the airport.The drone was a fixed-wing aircraft flying at an altitude of about 2,300 feet (700 meters), ...


Index Closing Chg%
Arrow DJIA 17,689.86 0.03
Arrow Nasdaq 5,128.28 0.01
Arrow S&P 2,103.84 0.23
Arrow FTSE 6,696.28 0.41
Arrow DAX 11,308.99 0.46
Arrow CAC-40 5,082.61 0.72
Arrow Nikkei 20,585.24 0.30
Arrow H.Seng 24,636.28 0.56
Arrow Sensex 28,114.56 1.48

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln