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Suzuki to buy back shares as Volkswagen row settled TOKYO: Japan's Suzuki Motor said on Sunday it plans to buy back its shares sold to Volkswagen after an international arbitration court settled a dispute between the two automakers. The ruling came four years after the Japanese small car maker attempted to end an alliance with the German auto giant, which has refused Suzuki's repeated demands to sell back the 112.21 million shares, or 19.9 percent of Suzuki. Arbitrators at the International Chamber of Commerce (ICC) ruled the alliance has been terminated and ordered Volkswagen to dispose of Suzuki shares, the Japanese company said. Chairman Osamu Suzuki said at a press conference held in Tokyo on Sunday he "feels really good" and is "satisfied" with the decision from arbitrators. The chairman did not elaborate on why the two automakers had to split after a 1.7 million euro ($2.3 billion) tie-up in 2009. "It was a precious experience. I learned there ...

Nokia agrees on ‘Shanghai Bell’ joint venture with China Huaxin HELSINKI: Finnish telecom equipment maker Nokia said it had agreed to create a Chinese joint venture with Huaxin in a move that could pave the way for China's approval for Nokia's proposed takeover of Alcatel-Lucent . The joint venture, to be named Nokia Shanghai Bell, will be built upon a similar, long-time joint venture between France's Alcatel-Lucent and China Huaxin, which is a state-owned Chinese investment company. According to a memorandum of understanding, Nokia said ...
Air China reports leap in H1 profit on lower fuel costs SHANGHAI: Air China, the country's flag carrier, said its net profit surged more than 720 percent year-on-year in the first half of 2015, supported by lower fuel prices.The company made net profits of 4.19 billion yuan ($655 million) in the first half, up strongly from 510.37 million yuan in the same period last year, it said a statement filed to the Hong Kong stock exchange late Thursday."The global aviation industry was generally healthy with sustained ...
Boeing gets $1.49bn order to build 13 surveillance planes NEW YORK: Boeing has won a $1.49 billion contract to build 13 additional P-8A maritime surveillance aircraft, and provide parts for 20 other aircraft of the same type.The Defense Department said Thursday that nine planes were being built for the US Navy, while the four others were designed for the Royal Australian Air Force.The parts were being used for the manufacturer of 16 more P-8A planes for the US Navy and four other Australian aircraft.The ...
Fuel firm Total Kenya say H1 pretax profit dips 5pc NAIROBI: Oil marketer Total Kenya said its first-half pretax profit dropped by 5 percent due to inflation and volatility in international oil prices.The group, part of French oil major Total, posted an 891.7 million shilling ($8.6 million) pretax profit in the six months to June 30, against 1 billion shillings in the same period in 2014.The company's turnover fell to 64 billion shillings from 90.4 billion shillings the previous year, due to lower sales volumes. ...
Toshiba to tap Shiseido adviser as new head of board TOKYO: Toshiba Corp is set to pick Shiseido Co adviser Shinzo Maeda to head its new board to improve corporate governance in the wake of a massive accounting scandal, two people familiar with the plan said on Thursday.The Japanese conglomerate on Aug. 18 proposed a fresh 11-member board with seven external directors, including Maeda, and left vacant the chairman post, previously held by President Masashi Muromachi. At an extraordinary shareholders' meeting scheduled next month, Toshiba ...
China energy giants' H1 profits fall on low oil prices SHANGHAI: Two of China's biggest energy companies, Sinopec and CNOOC, saw their first half net profits slump as low international oil prices and a weak global economy hit the bottom line, they said.Refiner Sinopec's net profit for the first six months slumped 22.3 percent to 24.43 billion yuan ($3.81 billion), it said late Wednesday in a statement to the Hong Kong stock exchange, where it is listed."In the first half of 2015, the global economic ...


Index Closing Chg%
Arrow DJIA 16,528.03 0.69
Arrow Nasdaq 4,776.51 1.07
Arrow S&P 1,927.18 0.84
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,259.46 0.38
Arrow CAC-40 4,652.95 0.47
Arrow Nikkei 18,890.48 1.28
Arrow H.Seng 21,670.58 0.27
Arrow Sensex 26,283.09 0.41

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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