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Credit Suisse flags more investment bank cuts ZURICH: Credit Suisse is to make more cuts at its investment bank, which helped the Swiss group to produce stronger-than-expected earnings in the third quarter. The bank has already scaled back its investment banking division, mainly in fixed income, to try to balance it more evenly with its private banking arm, which caters to the financial needs of the wealthy.Credit Suisse told investors to expect several potential large "structural reductions," following the earlier cuts that included parts of its bond-trading division and commodities. Finance chief David Mathers did not say where the latest cuts would be made. "I don't think I'm going to be specific." Credit Suisse appointed two new investment banking bosses last week and promoted them to its top ranks in a managerial shake-up, which Chief Executive Brady Dougan has said would not change the strategy or way of approaching the business. The bank aims to have businesses ...


Merkel says budget consolidation, growth should go together BRUSSELS: European Union budget rules should be respected and budget consolidation should go hand in hand with growth, German Chancellor Angela Merkel said on Thursday on arriving at an EU summit. Incoming European Commission President Jean-Claude Juncker has announced a three-year plan to produce 300 billion euros in public and private investment to raise Europe's growth potential. EU leaders will discuss this plan on Thursday."I support that Jean-Claude Juncker has proposed a investment programme as ...

Canada to speed up plans to toughen security laws OTTAWA: Canadian Prime Minister Stephen Harper said on Thursday the government will expedite plans to give more powers of detention and surveillance to security agencies in the wake of an attack on Parliament. "They need to be much strengthened, and I assure you, Mr. Speaker, that work which is already under way will be expedited," he told the House of Commons, one day after a gunman launched an attack on Parliament and was shot dead.Copyright ...

French delegation meets CM LAHORE: A high level delegation of prominent French company Total and Sun Power Corporation met Punjab Chief Minister Muhammad Shahbaz Sharif here on Thursday.Sun Power Corporation expressed interest in setting up a 100 megawatts solar project in Quaid-e-Azam Solar Park.Talking to the delegation, the chief minister said the government was taking all possible measures for resolving the energy crisis being faced by the country.He said a shortage of electricity had badly affected education, health, agriculture ...

Two dead, 15 injured in another Quetta blast QUETTA: Another blast took place in the provincial capital, here on Thursday evening in an area close to the public gathering of Jamiat Ulema-e-Islam-F, leaving two dead and 15 injured. Police said that a powerful explosion occurred on Mecongi road, close to Mali Bagh ground where Mufti Mehmood Conference organized by JUI-F was being held and JUI-F chief, Maulana Fazlur-Rehman has addressed to it. "The blast occurred after some time when JUI-F chief Maulana Fazlur ...

Ahsan urges PTI to focus on education, economy ISLAMABAD: Federal Minister for Planning and Development Ahsan Iqbal has said that all political parties particularly Pakistan Tehrik e Insaf (PTI), should focus on education of children, polio and economy of the country.He said that Pakistan Tehrik e Insaf holds the government in Khyber Pakhtunkhawa, adding the party should work for promotion of education and eradication of polio in all parts of the province.He said that PTI should focus on resolving the issues of the ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln