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Samsung Electronics replaces mobile design head SEOUL: Samsung Electronics Co Ltd , the world's biggest handset maker, has replaced the head of its mobile design team amid criticism of the latest Galaxy S smartphone. Chang Dong-hoon offered to resign last week and will be replaced by Lee Min-hyouk, vice president for mobile design, a Samsung spokeswoman said on Thursday. Samsung declined to comment on the reasons for the reshuffle. Lee, 42, became Samsung's youngest senior executive in 2010 for his role in designing the Galaxy series, a roaring success which unseated Apple Inc's iPhone as king of the global smartphone market. Samsung now sells two times more smartphones than Apple, largely thanks to the success of Galaxy range. But the South Korean firm has also been battling patent litigation the world over, with Apple claiming Samsung copied the look and feel of the US firm's mobile products.The Galaxy S5, which debuted globally last month, has received ...

Deutsche Telekom Q1 core profit drops on US investments FRANKFURT: Deutsche Telekom reported a 3.9 percent drop in first-quarter core profit on a 8 percent rise in revenues as investments in its US business T-Mobile US weighed. Fourth-quarter earnings before interest, tax, depreciation and amortisation (EBITDA), excluding special items, dropped to 4.12 billion euros, broadly in-line with the average forecast of 4.13 billion euros in a Reuters poll. Germany's former phone monopoly said on Thursday it still expected 2014 EBITDA, excluding special items, to ...
UAE's Etisalat expects to close Maroc Telecom deal on May 14 DUBAI: Etisalat expects to complete its purchase of 53 percent of Maroc Telecom from France's Vivendi on May 14, the United Arab Emirates operator said on Thursday. Etisalat has agreed to pay 4.2 billion euros for the stake. Following the conclusion of that deal, Etisalat will sell its West African busineses to Maroc Telecom. Copyright Reuters, 2014 ...
Telekom Austria Q1 core profit falls 5 percent VIENNA: Telekom Austria said the decline in its core profit slowed to 5 percent its the first quarter and said its turnaround strategy was showing the first signs of success. The telecoms operator, which will soon be controlled by America Movil, posted adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 320 million euros ($446 million) on Thursday. Analysts had expected EBITDA of 319 million euros, according to a Reuters poll. Telekom Austria reiterated ...
Toshiba eyes Alstom's power grid business: report TOKYO: Japan's Toshiba will offer to buy Alstom's power-grid business from General Electric, if the US firm completes a $17 billion bid for a chunk of the French conglomerate, a report said Thursday.Alstom, which builds power stations and electricity generating equipment as well as the French TGV high-speed train, is mulling a bid from GE for its energy unit and a rival offer by German group Siemens.The division includes fossil-fuel-fired power plants, renewable energy and ...
Toyota heads into lower-growth curve after profit bonanza TOKYO: Toyota Motor Corp faces stalling growth this fiscal year as the export-boosting tailwind that it and other Japanese carmakers have received from the yen's sharp depreciation over the past 18 months gradually blows itself out.For President Akio Toyoda, the quieter year in prospect offers a different challenge to the major events that have marked his five years in charge, like the massive recalls of 2010, Japan's 2011 tsunami and the boycott of Japanese products ...
Shale laggard's $3bn deal just a baby step NEW YORK: A $3 billion deal by the shale industry's crude laggard is just a baby step. Encana is paying Freeport-McMoRan Copper & Gold just half the price per barrel Devon Energy paid in a similar deal last year for Texas oil wells.After snubbing the shift from cheap gas for longer than rivals, the Canadian firm needed to do something. But catching up with oil shale leaders like EOG takes more than one canny deal.Freeport ...


Index Closing Chg%
Arrow DJIA 16,472.37 1.23
Arrow Nasdaq 4,707.77 1.74
Arrow S&P 1,951.36 1.43
Arrow FTSE 6,129.98 0.95
Arrow DAX 9,553.07 0.46
Arrow CAC-40 4,458.88 0.73
Arrow Nikkei 17,725.13 0.02
Arrow H.Seng 21,506.09 3.17
Arrow Sensex 26,220.95 0.25

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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 $-1.998 bln
Exports $1.835 bln
Imports $3.823 bln
WeeklySeptember 21, 2015
Reserves $18.726 bln