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Former Nokia chief Elop out in Microsoft shakeup NEW YORK: Microsoft announced a management shakeup on Wednesday, including the departure of Stephen Elop, the former Nokia chief who came on board with the US giant's acquisition of the Finnish firm's handset unit.Elop, 51, came to Microsoft as part of the deal unveiled in 2013 to buy the mobile phone unit of the Finland-based tech group.It was the second stint at Microsoft for the Canadian national, hired as chief executive by Nokia in 2010 in a bid to revitalize the group's smartphone efforts.At one point, Elop had been rumored as a potential candidate for CEO at Microsoft.In the shakeup announced by Microsoft CEO Satya Nadella, Elop will be replaced as head of the firm's "Windows and Devices Group" by Terry Myerson.Myerson will lead a newly formed team "focused on enabling more personal computing experiences powered by the Windows ecosystem.""We are aligning our engineering efforts and capabilities to deliver on ...

Airbus hopes to land new A400M orders soon LE BOURGET: The crash of an Airbus A400M military transport plane last month hasn't affected export orders, the firm's chief executive said Wednesday, adding Airbus hoped to land new customers soon.An A400M plane crashed during a test flight on May 9 near Seville in Spain, killing four of the six people on board and seriously injuring the two others.Initial analysis of the black boxes showed that three of the four engines had failed.Airbus's chief executive ...
New Spanish mayors cast doubts on big building projects MADRID: Spain's construction industry is on edge after far-left mayors took office in the nation's two largest cities, Barcelona and Madrid, casting doubts over the future of major building projects.Both new leaders have vowed to shelve urban development projects, judging them unnecessary and too expensive at a time when one in four workers is out of a job in Spain. Tens of thousands of new homes also remain unsold following the collapse of a property ...
Korean Air commits to buy 30 737 MAX 8 jets, 20 options PARIS: Korean Air committed on Tuesday to buy up to 50 Boeing 737 MAX 8 jets and two extended-range 777-300 planes, in a deal worth as much as $6 billion at list prices. The commitments announced at the Paris air show included an intent to purchase 30 737 MAX single-aisle jets and options for an additional 20. The companies said they would work to finalise the order. Earlier on Tuesday, Korean Air signed a deal ...
Orange boss sues over 'death threats' amid Israel spat PARIS: Orange boss Stephane Richard has taken legal action after receiving death threats against himself and family members amid a row over withdrawing his brand from Israel, legal sources said Tuesday.Richard filed a complaint at a Paris court last week before heading to Israel in a bid to calm the controversy, a source close to the affair disclosed."Stephane Richard received death threats on his telephone and his personal data were published on an Internet site ...
Toyota wins controversial investor vote on new shares TOKYO: Toyota won approval Tuesday for a controversial new stock sale that it defended as a way to lure stable, long-term investors, overcoming stiff opposition from some institutional shareholders overseas.The world's biggest automaker said 75 percent of shareholders voted in favour of the plan that would see it sell up to 50 million of the new shares, which must be held for five years and would not be publicly traded.Largely restricted to Japanese investors, the ...
SMBC Aviation to buy 10 Boeing planes worth $1bn TOKYO: SMBC Aviation Capital, an aircraft leasing company under the umbrella of Japan's Sumitomo Financial Group Inc and Sumitomo Corp, plans to buy 10 Boeing Co planes worth $1 billion at list prices, the Nikkei business daily reported.The purchase of the 10 Boeing 737 MAX 8 planes will be announced at the ongoing Paris Airshow, the newspaper said without citing sources. Copyright Reuters, 2015 ...


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