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Toyota says to recall 6.58mn vehicles for steering, seat problems TOKYO: Toyota Motor Corp will recall 6.58 million vehicles globally to fix faults in the steering and seats, a company draft statement showed on Wednesday, in one of the largest recalls to date in the global auto industry.The world's biggest automaker is recalling certain Yaris, Urban Cruiser, RAV4 and Hilux models after identifying faults in the steering column, wiring harnesses and seat railings of 1,058 vehicles. The Yaris is also sold as the Vitz and the Urban Cruiser under the Scion brand as the xA.The recall tally was preliminary and subject to review until a formal announcement in Japan later on Wednesday, a Toyota representative said.The recall covers models of the Yaris subcompact and Urban Cruiser SUVs assembled between January 2005 and August 2010 as well as RAV4 SUVs and Hilux compact pickups made between June 2004 and December 2010, Toyota said in the statement.It said 825,000 of the affected ...

Australia's David Jones stores welcomes $2bn South African bid SYDNEY: David Jones announced on Wednesday it intends to recommend a takeover offer from South African retailer Woolworths that values the Australian department store operator at about $2 billion.The upmarket chain, which had been discussing a merger with local rival Myer, said its board would unanimously recommend the Aus$4.00 per share cash offer, a more than 25 percent premium to Tuesday's closing price."This is a compelling proposal which represents a significant premium to not only ...
Intel lays off of 1,500 employees in Costa Rica SAN JOSE: US microchip giant Intel announced on Tuesday it was reducing its assembly and testing operations in Costa Rica and will lay off 1,500 employees.The move was a major blow to the economy of the Central American country, where 2,700 people were employed at an assembly plant set up in 1998."We are going to phase our our manufacturing operations in Costa Rica over the next six months. It is assembly test manufacturing. It will ...
Walmart beefs up wholesale business in India NEW YORK: US retail giant Wal-Mart Stores plans to add 50 new wholesale stores in India as it seeks growth in a key market where it has been unable to launch retail stores.Walmart said it will open the new "cash and carry" stores over the next four to five years, adding to its 20 existing stores.It also plans to extend its e-commerce platform to members of the existing stores, which operate under the name Best ...
Canadian housing starts, permits drop as market cools TORONTO: Canadian housing starts fell more than expected in March and building permits dropped sharply in February, according to data released on Tuesday that suggests the country's robust housing market is cooling.Volatility in the housing data and an especially hard winter may explain some of the unexpected weakness in the data, economists said. But the figures still bolstered expectations that home building was starting to slow after a boom that observers have warned is unsustainable."The ...
Indonesia plans to build $1.8bn power plant in Jakarta JAKARTA: Indonesia plans to build a coal-fired power plant with total capacity of 2,000 megawatts worth 20 trillion rupiah ($1.8 billion) in Jakarta, State-Owned Enterprises Minister Dahlan Iskan said on Tuesday. Southeast Asia's largest economy is in desperate need of electricity as decades of under-investment in power projects and bureaucracy have led to frequent black-outs in offices and households.Indonesia plans to add up to 60 gigawatts of electricity capacity to meet demand that is expected ...
Hungary's Feb industry output up 8.1pc y/y BUDAPEST: Hungary's industrial output rose by an annual 8.1 percent in February according to preliminary unadjusted data, faster than a 6.1 percent analyst forecast, the Central Statistics Office (KSH) said on Tuesday.It is the steepest growth since March 2011, when output expanded by 9.5 percent, KSH statistician Ildiko Miko said. She added that as before, vehicle manufacturing was still the main driver of industry output, as well as exports.Copyright Reuters, 2014 ...


Index Closing Chg%
Arrow DJIA 17,757.91 0.79
Arrow Nasdaq 5,013.13 0.53
Arrow S&P 2,077.42 0.69
Arrow FTSE 6,608.59 1.34
Arrow DAX 11,180.50 2.15
Arrow CAC-40 4,883.19 1.94
Arrow Nikkei 20,329.32 0.46
Arrow H.Seng 26,250.03 1.09
Arrow Sensex 28,020.87 0.86

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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