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GM South Korean workers approve wage deal, avoid major strike SEOUL: General Motors' South Korean workers voted in favour of a wage deal on Thursday, averting a major strike for a second consecutive year. GM Korea agreed to pay 10.5 million won ($8,990) in bonuses and incentives to each worker and raise the basic monthly wage by 83,000 won. Fifty-five percent of GM Korean workers approved the tentative deal reached on Monday, a union spokesman told Reuters.The latest wage agreement includes plans to make next-generation Chevrolet Malibu sedans on a second production line at its Bupyeong plant. There has been much speculation that production at the plant would be scaled back.Copyright Reuters, 2015 ...

Virgin Australia flight turns back to LA after window crack SYDNEY: A Virgin Australia flight bound for Brisbane was turned back to Los Angeles after a crack was found in the passenger jet's windscreen, the airline said Thursday.Flight VA8 was forced to return to the US airport late Wednesday "as a precautionary measure" after the "detection of a crack in the aircraft's windscreen", Virgin Australia said in a statement."Engineers are working to rectify the issue, and we are doing everything we can to get passengers ...
SK Telecom posts 20pc drop in Q2 net profit SEOUL: South Korea's top mobile operator, SK Telecom, reported a 20 percent drop in second-quarter net profit Thursday, due mainly to a one-off cost related to personnel restructuring.Net profit in the April-June period stood at 397.9 billion won ($342.8 million), compared with 497.63 billion won a year earlier, the company said in a regulatory filing.SK Telecom attributed the size of the decline to special severance payments to workers leaving the company as part of a ...
Samsung Electronics posts 8pc fall in Q2 net profit SEOUL: South Korean giant Samsung Electronics posted an 8.0 percent fall in second quarter net profit Thursday and promised "flexible" pricing of its new flagship smartphone after less than stellar sales contributed to a slump in its mobile unit's earnings.The world's largest smartphone maker said net profit for the April-June period stood at 5.75 trillion won ($4.9 billion), down from 6.25 trillion won a year ago and slightly below analyst estimates.The conglomerate has now seen ...
Japan Airlines April-June net profit more than doubles to $263mn TOKYO: Japan Airlines (JAL) said Thursday its net profit in the April-June quarter more than doubled thanks to a jump in tourist arrivals and a drop in fuel costs.The carrier said net profit came in at 32.61 billion yen ($263 million), more than double the same period last year, with sales coming in at 312 billion yen, up 1.6 percent.Copyright AFP (Agence France-Presse), 2015 ...
Royal Dutch Shell to cut 6,500 jobs on oil price slump LONDON: Royal Dutch Shell on Thursday said it plans to reduce its headcount by 6,500 this year owing to sliding oil prices and as it looks to complete a mega takeover."Today's oil price downturn could last for several years, and Shell's planning assumptions reflect today's market realities," the company said in a statement, adding that it anticipates "some 6,500 staff and direct contractor reductions in 2015".Shell earlier this year unveiled a mega-takeover of British rival ...
Drugs giant GSK logs slump in quarterly profit LONDON: British drugmaker GlaxoSmithKline on Wednesday posted slumping quarterly earnings, hit partly by lower profit margins for vaccines acquired under an asset swap deal with Swiss peer Novartis.Earnings after taxation tumbled 77 percent to £149 million ($232 million, 210 million euros) in the three months to June, compared with a year earlier, GSK said in a results statement. Turnover grew seven percent to £5.89 billion.Adjusted operating profit meanwhile slid four percent to £1.349 billion in ...

 



 
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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%
MonthlyJune
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyJuly 23, 2015
Reserves $18.677 bln