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GM unit Opel to make Buick vehicles for US in Germany FRANKFURT: General Motors unit Opel will make two additional vehicles at its plant in Ruesselsheim, Germany, including a Buick destined for the United States, it said on Friday. The move forms part of a strategy to intertwine the Opel and Buick product ranges to share development costs, while focusing Opel sales in Europe, and Buick sales in the United States and China. Opel already makes four variants of its Insignia sedan, which shares the same underpinnings as the Buick Regal, at the Ruesselsheim factory. "Buick production in Ruesselsheim will further improve our capacity utilisation," Opel Chief Executive Karl-Thomas Neumann said in a statement. In January 2015 Opel will stop exports to China."It would have cost hundreds of millions of euros to raise awareness of the Opel brand and to expand the distribution network. Buick, however, is one of the market leaders in China and we plan to intensify our future ...

Walmart sues Visa for $5bn for rigging card fees WASHINGTON: The world's largest retailer Walmart has sued credit card giant Visa for more than $5 billion for conspiring with banks to fix fees that merchants pay for accepting Visa card payments.In the suit filed this week in Arkansas, where Walmart is based, the retailer said Visa worked with some of the largest US banks "to illegally fix the interchange fees and inflate the network fees that Walmart and other merchants pay on Visa charge ...
Japan to bid farewell to 747 'jumbo' TOKYO: Japanese plane buffs will say a fond farewell to the "jumbo jet" this month as the Boeing 747 makes its final scheduled flight in the country.The two-deck carrier, loved for its broad-shouldered look, will ferry holiday-makers and aviation enthusiasts on an All Nippon Airways flight from Naha, in Okinawa, to Tokyo's Haneda airport on March 31.The jumbo jet -- 70 metres (229 feet) long and 60 metres wide -- was first introduced to the ...
S&P says pro-investment reforms could lead to Hungary upgrade BUDAPEST: Standard & Poor's said on Friday it could raise its 'BB/B' ratings on Hungary if the government launches pro-investment policies and reforms, but also downgrade the country if public or external finances weaken substantially.Earlier, S&P raised its outlook on Hungary's "junk"-rated debt to stable from negative, citing a stabilising economy, a higher growth outlook and reduced external vulnerabilities."We could raise the ratings if the government were to establish policies that encourage investment, while implementing ...
New iPhone likely out in September: Nikkei TOKYO: Apple is likely to release its newest iPhone globally in September with a higher resolution and bigger screens, Japan's leading Nikkei business daily reported Friday.The handset, expected to be called the iPhone 6, is expected to come in two versions with a 4.7- or 5.5-inch screen, up from the current four-inch panel, the report said, without citing sources.US-based Apple is ordering its higher-resolution liquid crystal display screens from Japanese electronics giant Sharp, Japan Display ...
GM says new part number will avoid possible confusion on recall repair WASHINGTON: General Motors Co said on Thursday the replacement ignition switch it has ordered to use in a massive passenger car recall will bear a new part number, a step that "eliminates any potential confusion about which part to use in the repair," a spokesman said.GM spokesman Jim Cain said changing the part number is "standard procedure" for a new factory run, as GM tries to bring in about 1.6 million vehicles globally that have ...
Sony to book $49mn profit from Tokyo property sale TOKYO: Sony Corp said on Thursday that it would book about a 5 billion yen ($48.9 million) profit in the next fiscal quarter on the sale of Tokyo property, its second disposal announced this month as it sheds assets under a turnaround plan. The gain will be posted as operating profit for the first quarter of the business year that begins on April 1, Sony said. Sony has been selling off assets and restructuring loss-making ...

 



 
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Banking Review 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyApril
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 26, 2015
Reserves $17.749 bln