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Malaysia-based AirAsia, the region's biggest low-cost carrier by fleet size, said Wednesday its third-quarter net profit plunged a year-on-year 85 percent due mainly to higher financing costs. Net profit for the quarter ending September 30 was 5.4 million ringgit ($1.61 million), the company said, while revenue increased 3.1 percent to 1.32 billion ringgit.

Telefonica Deutschland reported a 15-percent drop in quarterly core earnings as it increased spending on marketing to lure subscribers. The company, controlled by Spain's Telefonica, reported on November 10 a decline in fiscal third-quarter operating income before depreciation and amortisation (OIBDA) excluding special items to 248 million euros ($309.40 million). That was below analysts' mean forecast for 251 million in a Reuters poll.
Singapore Telecommunications Ltd, Southeast Asia's largest telecommunications operator, reported a 19 percent rise in second-quarter net profit on November 13, helped by higher contributions from its regional associates. SingTel posted a net profit of S$1.04 billion ($806 million) for the three months ended September, its highest in 10 quarters, compared with S$870 million a year ago. Its underlying net profit was S$979 million, excluding one-time items.
Danish shipping and oil group A.P. Moller-Maersk's third-quarter net profit beat expectations, boosted by a strong performance at its container shipping business Maersk Line. Net profit rose 25 percent to $1.5 billion compared with the same period last year, Maersk said on November 11, beating an average forecast of $1.38 billion in a Reuters poll of analysts.
Vietnam Airlines Friday said its long-awaited IPO had been "a success", raising more than $52 million for the national flag carrier, control of which remains firmly in state hands. After decades of speculation and multiple failed attempts, the IPO went ahead with some 49 million shares - around 3.5 percent of the company - sold to more than 1,500 investors, the airline said.
Indian budget carrier SpiceJet Ltd lost 3.1 billion rupees ($50.2 million) in the three months to September 30, the company said late on Friday, less than the 5.6 billion rupees it lost last year after it lowered fares to fill more seats. SpiceJet, which has now lost money for five consecutive quarters, has been discounting ticket prices, trimming costs and reducing the size of its fleet in the last few months, as it battles fierce competition in a country where all but one of India's main carriers are losing money.
Japan's top three banks have posted lacklustre half-year profit figures as the impact of last year's stock market surge faded and they struggle to boost lending at home. Mitsubishi UFJ, the country's biggest bank, on Friday said its net profit rose to 578.72 billion yen ($4.99 billion) in the six months to September, a nine percent rise, but well off a more than 80 percent on-year surge in the same period last year.


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Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln