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Merger fever back on Wall Street NEW YORK: Mega-merger fever is back on Wall Street, six years after the financial crisis, and 2014 is shaping up as a record year for takeovers in a sign of US corporate optimism.In rapid succession on Monday, pharmaceutical giant Actavis said it would pay $66 billion for Allergan, which makes the wrinkle-eraser Botox, and oilfield services company Halliburton said it would take over rival Baker Hughes for $34.6 billion.Times have never been riper for big deals, mergers-and-acquisitions bankers told AFP."A number of factors are driving M&A activity, including low-cost financing, strong equity markets, more confidence in corporate boardrooms, and an increasingly competitive deal landscape, where many organizations do not want to be left behind," said Mark Shafir, co-head of Global M&A at Citigroup.Jack MacDonald, co-head of Americas M&A at Bank of America Merrill Lynch, explained that companies are making strategic acquisitions outside their core businesses in order to accelerate growth."Clearly ...

Japan October trade deficit narrows sharply on export boost TOKYO: Japan's trade deficit narrowed sharply in October, data showed Thursday, as a weaker yen boosted exports while lower oil prices brought down the country's massive energy bill.The figures marked a bright spot among otherwise gloomy data lately, including GDP figures earlier this week that showed the world's number-three economy had slipped into recession.Japanese exports jumped nearly 10 percent last month, as higher shipments of cars, ships and steel helped the trade balance, while imports ...
S&P sounds warning on Chinese property sector, Russian banks LONDON: Credit rating agency Standard and Poor's said on Wednesday that China's over-priced and over-supplied property market and capital-starved Russian banks were likely to face further downgrades in the coming years.In two new emerging market-focused reports, S&P said Chinese property ratings were likely to be hit more than other large markets in Asia, while like in Russia banks in Turkey, South Africa and Brazil also faced difficulties.S&P said in the property report that ratings in ...
US housing starts dip in October WASHINGTON: New US housing construction slowed in October from September, weighed down by a drop in starts on multifamily properties, government data released Wednesday showed.Housing starts fell 2.8 percent to an annual rate of 1.009 million units, down from 1.031 million units the previous month, the Commerce Department said.The September rate was revised higher from the previous estimate of 1.018 million units.Single-family home construction, a key indicator of the strength of the residential construction industry, ...
US retail stocks jump but overall market slips from highs NEW YORK: Wall Street stocks retreated from record highs in early trade Wednesday but major retailers like Lowes and Target were sharply higher on buoyant earnings reports.About 35 minutes into trade, the Dow Jones Industrial Average stood at 17,634.94, down 52.88 points (0.30 percent).The broad-based S&P 500 slid 8.69 (0.42 percent) to 2,043.11, while the tech-rich Nasdaq Composite Index fell 33.82 (0.72 percent) to 4,668.62.The overall market paused after the Dow and S&P 500 notched ...
Brazil inflation returns to government target range in mid-November BRASILIA: Brazil's annual inflation rate eased more than expected in mid-November, falling back within the official target range despite a recent increase in fuel prices.Consumer prices rose 6.42 percent in the 12 months through mid-November, statistics agency IBGE said on Wednesday. Market consensus in a Reuters poll was for an increase of 6.54 percent.The top end of the government's target range is 6.5 percent.When compared to mid-October, prices rose 0.38 percent , down from 0.48 ...
German exporters see 2015 growth, expect more Russia sanctions BERLIN: German exports will likely grow by 4 percent in 2015 if no new global conflicts emerge, even though Western economic sanctions against Russia are likely to last a long time and may expand further, Germany's BGA exporters' group said on Wednesday.Germany is Russia's biggest trading partner in the European Union, which along with the United States has imposed financial and economic sanctions against Moscow this year over its backing for pro-Russian separatists in eastern ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

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