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Fiat Chrysler's new Alfa Romeo puts deal-hungry CEO to the test MILAN: Fiat Chrysler Automobiles (FCA) will launch the first of a new range of Alfa Romeo cars on Wednesday, the lynchpin of its turnaround plan and potentially an opportunity to attract a cash-rich merger partner. Chief Executive Sergio Marchionne is betting on the 105-year-old Alfa brand to help FCA take on German rivals BMW, Audi and Mercedes-Benz in the fast-growing and high-margin market for premium cars.The new mid-sized sedan will have a six-cylinder engine derived from FCA's top-end Ferrari brand and will draw on Alfa's racing heritage to help it stand out against "boring German rivals," supplier sources told Reuters. But Marchionne faces an uphill battle to convince drivers that Alfa has shed a reputation for poor quality and service, and to persuade investors he has the formula -- and money -- to succeed where previous relaunches have failed. The new Alfa and seven models expected to follow, including a ...

Alibaba and Ant Financial to invest $1bn in local services SHANGHAI: China's e-commerce giant Alibaba and a financial affiliate part-owned by its chairman Jack Ma will pour nearly $1 billion into a local services mobile platform to compete with rival Tencent.Alibaba and Ant Financial Service Group will each invest $483.3 million and take 50 percent stakes in mobile shopping and dining information app Koubei, Alibaba said in a statement emailed to AFP on Tuesday.Koubei connects users to businesses and service providers such as restaurants in ...
Morgan Stanley slashes nickel forecasts on deteriorating macro outlook MELBOURNE: Morgan Stanley slashed its nickel price forecasts for the second half of the year on Tuesday as demand from stainless steel producers is undermined by a deteriorating outlook for global growth. The bank cut its third quarter 2015 nickel price forecast by 12 pct to $13,228 a tonne; and its fourth quarter outlook by 10 pct to $13,448 a tonne.Nickel was particularly hard hit among commodities because 70 percent of all primary nickel goes ...
Fiji Airways names new South African chief SUVA: Fiji Airways on Tuesday named South African Andre Viljoen as its new chief executive after a seven-month search, replacing Stefan Pichler who left to take over at Air Berlin.The airline, formerly known as Air Pacific, said he would join from Air Mauritius before October.Fiji Airways chairman Nalin Patel said Viljoen had transformed Air Mauritius and returned it to profitability during his time in charge."Andre is an experienced airline professional with a strong business and ...
Honda reports eighth death in exploding airbag crisis TOKYO: Japanese automaker Honda on Monday confirmed a new death linked to an exploding air bag crisis -- bringing the global total to eight fatalities -- that has sparked the recall of millions of vehicles.The company said a woman in Los Angeles died in September last year after the faulty inflator in a 2001 Honda Civic ruptured, firing metal shrapnel at her."The airbag inflator rupture that occurred during this crash resulted in the death of ...
AirAsia says aviation laws prevent it from consolidating associates' accounts KUALA LUMPUR: AirAsia refuted on Monday a report that had said the airline was unwilling to consolidate the accounts of its foreign associates and be more transparent about its finances, saying it was prevented from doing so by aviation regulations. Little-known Hong Kong-based GMT Research said in a June 10 report that AirAsia is unwilling to consolidate the accounts of its foreign associates. AirAsia's internal audit committee said in a statement the airline had, in ...
Apple bows to Taylor Swift on streaming payments NEW YORK: Tech giant Apple late Sunday bowed to pressure from pop superstar Taylor Swift and raised payments to artists for its forthcoming music streaming service.The about-face by one of the world's most powerful companies showed the extraordinary influence of the 25-year-old Swift, who had vowed a partial boycott of the new Apple Music service.Swift, saying that she was speaking up for artists afraid of upsetting Apple, had called the company's behavior "shocking" over its ...


Index Closing Chg%
Arrow DJIA 17,730.11 0.16
Arrow Nasdaq 5,009.22 0.08
Arrow S&P 2,076.78 0.03
Arrow FTSE 6,585.78 0.67
Arrow DAX 11,058.39 0.37
Arrow CAC-40 4,808.22 0.57
Arrow Nikkei 20,539.79 0.08
Arrow H.Seng 26,064.11 0.83
Arrow Sensex 28,092.79 0.53

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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 $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln