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Toyota falls behind VW in world's biggest automaker race TOKYO: Toyota has fallen behind Volkswagen in the race for the world's biggest automaker title, figures showed Tuesday, as the German giant outsold its Japanese rival in the first half of the year.Toyota said it sold 5.02 million vehicles worldwide between January and June, falling below earlier figures from Volkswagen of 5.04 million units shifted in the same period.US-based General Motors was sitting in third spot with 4.86 million in sales.Camry and Prius maker Toyota broke GM's decades-long reign as the world's top automaker in 2008 but lost the crown three years later as Japan's 2011 earthquake-tsunami disaster hammered production and disrupted the supply chains of the country's automakers.In 2012, Toyota again overtook its Detroit rival, which sells the Chevrolet and luxury Cadillac brands, to grab the top spot globally.But the Japanese automaker is expecting sales this year to slip to 10.15 million from a record 10.23 million vehicles in ...

Android flaw lets hackers break in with a text message SAN FRANCISCO: Cyber security firm Zimperium warned of a flaw in the world's most popular smartphone operating system that lets hackers take control with a text message."Attackers only need your mobile number, using which they can remotely execute code via a specially crafted media file delivered via MMS (text message)," Zimperium Mobile Security said in a blog post."A fully weaponized successful attack could even delete the message before you see it. You will only see ...
China's Baidu shares dive on earnings miss SAN FRANCISCO: Baidu shares skidded Monday after the Chinese Internet colossus reported earnings shy of most market expectations.Baidu's profit for the second quarter was 3.66 billion yuan ($591 million), up slightly from 3.55 billion yuan in the same quarter a year earlier.Sometimes referred to as the Chinese answer to Google, Baidu reported revenues rose 38 percent from a year earlier to 16.57 billion yuan.But the results were below market forecasts, and Baidu shares tumbled 8.69 ...
Fiat Chrysler could spend billions to buy back unrepaired trucks DETROIT: Fiat Chrysler Automobiles could pay billions of dollars to buy back defective trucks as part of a settlement with US safety regulators, but has the option to recover costs by reselling vehicles once they are repaired. The auto safety watchdog on Sunday slapped the Italian-American automaker with a $105 million fine - the largest ever levied by US regulators against a carmaker - over lapses in safety recalls involving millions of vehicles. FCA said ...
AstraZeneca sells rare cancer drug to Sanofi for up to $300mn LONDON: AstraZeneca, under pressure from falling sales of older drugs, is selling a medicine for a rare type of cancer to Sanofi as it continues a drive to raise cash by divesting certain assets.Sanofi's rare diseases division Genzyme will pay AstraZeneca up to $300 million for global rights to Caprelsa, including an upfront payment of $165 million and milestone payments based on the drug's performance of up to $135 million, the companies said on Monday.Caprelsa ...
VW's Audi aims to raise China sales with revamped A4 BERLIN: Audi hopes that the redesigned top-selling A4 saloon will shore up its fortunes in China where the premium brand is grappling with dwindling sales and a leadership change.Global carmakers have come under pressure to raise their game in the world's biggest auto market where an anti-corruption drive, a slowing economy and tumbling stocks are weighing on sales.Volkswagen's flagship division will court Chinese buyers with a lighter and more fuel-efficient version of the A4, which ...
Canon profit tumbles 20.5pc on weak camera demand TOKYO: Japan's Canon said on Monday that its net profit fell 20.5 percent in the first six months of the year as smartphones increasingly take a bite out of demand for digital cameras.The photography and office equipment giant reported a 102.13 billion yen ($830 million) profit for the January-June period, while operating profit fell 11.5 percent to 170.90 billion yen.Sales ticked up 2.0 percent to 1.83 trillion yen from a year earlier."Demand for digital cameras ...


Index Closing Chg%
Arrow DJIA 17,745.98 0.03
Arrow Nasdaq 5,128.79 0.33
Arrow S&P 2,108.63 0.01
Arrow FTSE 6,668.87 0.57
Arrow DAX 11,257.15 0.40
Arrow CAC-40 5,046.42 0.58
Arrow Nikkei 20,522.83 1.08
Arrow H.Seng 24,497.98 0.49
Arrow Sensex 27,705.35 0.51

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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