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Two of China's biggest lenders, including the main foreign exchange dealer Bank of China, reported flat net profits for the first half of 2015, due to the weak domestic economy and growing bad loans. Bank of China (BOC) net profit rose a mere 1.14 percent year-on-year to 90.75 billion yuan ($14.18 billion), the bank said Friday in a statement to the Hong Kong stock exchange, where it is listed.

Malaysian conglomerate Sime Darby Wednesday reported a 17 percent year-on-year fall in net profit in the fourth quarter due to a plunge in commodity prices and poor sales of vehicles and industrial equipment in key markets like China. The world's largest listed palm oil producer by acreage said net profit for April-June was 988.7 million ringgit ($233.30 million), compared with 1.2 billion ringgit in the same quarter last year.
Luxury jeweler Tiffany & Co forecast a surprise decline in full-year profit and reported an unexpected fall in second-quarter sales as a strong dollar discouraged tourist spending in the United States and reduced the value of overseas sales. The company's shares fell 5.3 percent in premarket trading on Thursday.
Aldermore Group Plc's profit more than doubled in the first half of the year, beating expectations, as the up-and-coming British bank issued more mortgages and loans to small and medium-sized businesses. The bank's shares rose as much as 11 percent on Thursday to rank among the top gainers on the FTSE-250 midcap index. Aldermore, among a handful of London-listed banks set up to challenge the dominance of Britain's big five lenders, reported underlying pretax profit of 44 million pounds ($68 million) for the six months ended June.
French conglomerate Bouygues raised its full-year core earnings and cost savings targets for its telecom business on Thursday as it posted a 51 percent rise in first-half group current operating profit. The company now expects earnings before interest, tax, depreciation and amortisation (EBITDA) at Bouygues Telecom to rise to around 750 million euros ($850 million) this year from 694 million last year. It previously forecast stable profit.
India's Reliance Industries Ltd said on Friday it will invest $5 billion across its refining and petrochemicals business by next March, after strong refining margins boosted its quarterly profit. Controlled by India's richest man Mukesh Ambani, Reliance is India's second-largest company by market value and runs the world's largest refinery complex.
The Industrial and Commercial Bank of China (ICBC), the country's biggest bank, on Thursday reported a less than one percent year-on-year rise in net profit for the first half, affected by the slowing economy. Net profit was 149.02 billion yuan ($23.28 billion) for the six months ended June 30, up from 148.10 billion yuan from the same period a year ago, according to a statement to the Hong Kong stock exchange.


Index Closing Chg%
Arrow DJIA 16,643.01 0.07
Arrow Nasdaq 4,828.32 0.32
Arrow S&P 1,988.87 0.06
Arrow FTSE 6,247.94 0.90
Arrow DAX 10,298.53 0.17
Arrow CAC-40 4,675.13 0.36
Arrow Nikkei 19,136.32 3.03
Arrow H.Seng 21,612.39 1.04
Arrow Sensex 26,392.38 0.61

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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