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Swiss agribusiness giant Syngenta to sell flower seed business ZURICH: Swiss agricultural products giant Syngenta said Wednesday it would sell its flower seeds business.The activity has been part of its lawn and garden unit, whose focus is on professional products markets such as golf courses and industrial pest management, the Basel-based firm said in a press release.No details of the planned divestment were provided.Syngenta is being eyed for takeover by its US rival, Monsanto, whose proposal values the Swiss firm at around 42 billion Swiss francs (38.9 billion euros, $43 billion).Copyright AFP (Agence France-Presse), 2015 ...

Lotte Group says Hotel Lotte to hire IPO managers in Sept SEOUL: Conglomerate Lotte Group said on Wednesday its South Korean hotel arm Hotel Lotte Co Ltd , a key vehicle for control for the group's South Korean businesses, will hire managers for an initial public offering by early September.Lotte Group, in a text message sent to reporters, did not elaborate on when the listing will be completed. Last week it said it expected Hotel Lotte to have a market capitalisation of about 10 trillion won ...
Google gets in the WiFi router business SAN FRANCISCO: Google unveiled a WiFi router Tuesday looking to increase the ease and speed at which people's increasingly indispensable smartphones and tablets connect at home with its services.The Internet giant touted OnHub, a partnership with TP-LINK networking product manufacturer, as a "different kind of router for a new way to WiFi.""Instead of headaches and spotty connections, OnHub gives you Wi-Fi that's fast, secure, and easy to use," Google said in a blog post.OnHub, priced ...
Intel, 'Survivor' producers plan show on wearables SAN FRANCISCO: US technology firm Intel, best known for its semiconductor chips, is jumping into reality TV with a competition pitting makers of wearables and smart connected consumer devices.For "America's Greatest Makers," due to premiere in early 2016 across the Turner Broadcasting entertainment platform, Intel teamed up with "Survivor" producer Mark Burnett.Winners will take home a $1 million prize.The program, announced Tuesday at the 2015 Intel Developer Forum in San Francisco, will be inspired by ...
Cathay Pacific first-half profit up fivefold to US$254mn HONG KONG: Hong Kong flag carrier Cathay Pacific Wednesday said its first-half profit rose to HK$1.97 billion ($254 million) from a year earlier, helped by lower fuel prices.The airline's net profit for the first six months of the year was up more than five times, but revenue for the period fell 0.9 percent to HK$50.39 billion. Copyright AFP (Agence France-Presse), 2015 ...
Toshiba taps ex-top execs of major firms as outside directors TOKYO: Crisis-hit Toshiba said on Tuesday it will book a net loss for the last fiscal year, as it scrambles to revise its financial records to account for a billion dollar accounting scandal.The company also announced that it would appoint a host of renowned Japanese business people as outside directors in a management overhaul to improve its corporate culture, in which high-handed bosses routinely pressured their subordinates to inflate profits.Toshiba said it expected to log ...
Volkswagen says 2,700 cars damaged in China port blasts BEIJING: Volkswagen AG said on Monday that around 2,700 of its imported cars were damaged in last week's blasts at the port in China's Tianjin, which killed more than 100 people. Tianjin is China's largest port for car imports. Volkswagen's announcement follows Renault SA confirming that nearly 1,500 of its cars burned in the explosions originating in an area of the port that stored toxic chemicals. Copyright Reuters, 2015 ...


Index Closing Chg%
Arrow DJIA 16,643.01 0.07
Arrow Nasdaq 4,828.32 0.32
Arrow S&P 1,988.87 0.06
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,298.53 0.17
Arrow CAC-40 4,675.13 0.36
Arrow Nikkei 19,136.32 3.03
Arrow H.Seng 21,612.39 1.04
Arrow Sensex 26,392.38 0.61

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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 $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln