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GM ignition-switch death toll hits 100 NEW YORK: General Motors said Monday that at least 100 people have died as a result of defective ignition switches in some of its older model cars.GM's independent compensation fund, run by attorney Kenneth Feinberg, said in its weekly update that compensation claims for 37 deaths and 537 cases of injuries remained under review.The defective switches can cause the ignition to unintentionally switch out of the "on" position, disabling airbags and other functions. GM knew of the ignition problem for more than a decade before it began recalling 2.6 million cars worldwide in February 2014.The largest US automaker had acknowledged at least 13 deaths were linked to the ignition-switch flaw by the time its recall started.The compensation fund said it had received 4,342 compensation claims for fatalities and injuries linked to the faulty equipment from the opening of claims processing on August 1, 2014, to the January 31 filing deadline.On ...

China auto sales down 0.5pc in April: industry group BEIJING: Auto sales in China, the world's largest car market, fell 0.5 percent year-on-year to 1.99 million vehicles in April, an industry group said Monday.For the first four months of the year, auto sales increased 2.8 percent on the same period last year to 8.14 million vehicles, according to the China Association of Automobile Manufacturers (CAAM).The fall in April compared with a rise of 3.3 percent in March, CAAM figures showed.Slowing economic growth, limits by ...
Airbus to continue A400M test flights, crash victims honoured MADRID: Airbus said it will carry on with test flights of its A400M military transport plane despite a crash in Spain of one of the aircraft that killed four employees who were honoured Monday with a moment of silence at the company's factories.The European aerospace giant has decided to keep producing the model as well in the wake of Saturday's crash, the first involving a A400M plane, a company spokesman said.The next test flight is ...
Volvo Cars picks South Carolina to supply toughening US market PARIS/DETROIT: Sweden's Volvo Cars has chosen a site in South Carolina for a $500 million investment in its first US plant, it said on Monday, targeting a bigger share of the increasingly competitive North American premium market. Work will begin this year on the factory in Berkeley County, with production due to start in 2018 and quickly reach 100,000 vehicles a year. The investment is part of a drive by China's Geely , which bought ...
China auto sales down 0.5pc in April BEIJING: Auto sales in China, the world's largest car market, fell 0.5 percent year-on-year to 1.99 million vehicles in April, an industry group said Monday.For the first four months of the year, auto sales increased 2.8 percent on the same period last year to 8.14 million vehicles, according to the China Association of Automobile Manufacturers (CAAM).The fall in April compared with a rise of 3.3 percent in March, CAAM figures showed.Slowing economic growth, limits by ...
Airbus shares hit following A400M crash in Spain PARIS: Shares in European aerospace giant Airbus fell more than three percent in opening trade Monday after one of its A400M military planes crashed in Spain over the weekend, killing four.In opening trades, shares in Airbus were down 3.36 percent, underperforming the wider market which was down less than one percent.Earlier Monday, Malaysia became the latest country to ground its only A400M, following similar decisions by Britain, Germany and Turkey.France, which has six of the ...
China's smartphone market contracts in Q1: IDC SINGAPORE: China's smartphone market contracted in the first quarter for the first time in six years with Apple becoming the top vendor, researchers said Monday.International Data Corporation (IDC) said figures from its mobile phone tracker show that 98.8 million smartphones were sold in China in January-March, down 4.3 percent from the same period last year."This is the first time in six years that the China smartphone market declined year-on-year as the market continues to mature," ...

 



 
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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%
MonthlyMarch
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyMay 21, 2015
Reserves $17.75 bln