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South Africa's Eskom expands rolling power cuts to 2,000 MW JOHANNESBURG: South African utility Eskom said it had expanded power cuts to 2,000 megawatts on Friday from 0620 GMT until 2000 GMT.Eskom, which has been experiencing severe supply shortages, had earlier announced it would cut 1,000 MW.Copyright Reuters, 2015 ...

Shares in RBS rise after UK unveils plan to sell shares LONDON: Shares in Royal Bank of Scotland rose in early trading on the London Stock Exchange after Britain's Finance Minister George Osborne said the government would start selling its shares in the bank.In his annual speech to financiers in the City of London on Wednesday evening, Osborne said he had decided to begin selling the government's 80 percent stake in the bank, worth 32 billion pounds ($49 billion), after taking independent advice from investment bank ...
S&P confirms US credit rating at AA+ WASHINGTON: Standard & Poor's confirmed the US credit rating at AA+ on Wednesday, saying debt levels remained high and policy-making weak, four years after it cut the country's top-level triple-A rating. "A high level of general government debt as well as a lack of political cohesion among the main parties in Congress -- resulting in comparatively short-term oriented policymaking -- constrain the ratings," S&P said.Copyright AFP (Agence France-Presse), 2015 ...
Nestle challenges noodles ban in Indian court MUMBAI: Nestle said on Thursday it is challenging a ban imposed by India on its hugely popular Maggi noodles brand after tests showed they contained excessive levels of lead.Nestle said in a statement it had gone to the high court in Mumbai seeking a judicial review of a June 5 order from the government's food safety regulator banning the product.Copyright AFP (Agence France-Presse), 2015 ...
Twitter looks at on-phone apps to target new pitches SAN FRANCISCO: Twitter on Wednesday launched a tool that takes into account what apps are on a smartphone or tablet when targeting pitches for other mini-programs people might want."Installed app category targeting" lets advertisers aim marketing messages at people based on what applications they already have, according to the popular one-to-many messaging service based in San Francisco."One of the biggest priorities for mobile app marketers is to reach the people who are most likely to ...
US fund seeks court action to stop Samsung stock sale SEOUL: US hedge fund Elliott said Thursday it would file a lawsuit against a proposed stock sale aimed to facilitate the merger of two Samsung Group affiliates.The fund said it would apply for a court injunction against Samsung C&T's move to sell treasury shares to chemicals maker KCC Corp., one of its friendly shareholders, to bolster its hand in confrontation over its controversial merger with Cheil Industries.Elliott has already begun legal proceedings for a separate ...
Google launches company to tackle city life woes SAN FRANCISCO: Google on Wednesday unveiled a company devoted to making a thriving business out of solving big-city problems such as overpriced housing and traffic-snarled streets.Sidewalk Labs based in New York City was described as an "urban innovation" firm with a mission to develop technology that makes living and running big cities better."Sidewalk will focus on improving city life for everyone by developing and incubating urban technologies to address issues like cost of living, efficient ...

 



 
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


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyMay
Trade Balance $-1.894 bln
Exports $1.953 bln
Imports $3.847 bln
WeeklyJuly 01, 2015
Reserves $18.5 bln