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Abu Dhabi Commercial Bank wins Trade Finance award

Thursday, 25 July 2013 09:51
Abu Dhabi: The Abu Dhabi Commercial Bank (ADCB) has won the "Highly Commended Trade Bank" in the Middle East award from Trade Finance magazine.The award was presented at the Trade Finance Awards Ceremony held in London recently."The Awards for Excellence…

Rakbank records $207 mn profit in first half of 2013

Thursday, 25 July 2013 10:15
Ras Al Khaimah: The Rakbank has announced a net profit of 760.1 million dirhams (around $207 million) for the half year that ended June 30.The profit reflected a 13.7 percent increase over the same period last year."Rakbank's rise in profit…

Sri Lanka's central bank keeps rates unchanged

Wednesday, 24 July 2013 14:35
Colombo: The Central Bank of Sri Lanka announced Wednesday that it has decided to keep its rates unchanged, citing increased foreign currency inflows and controlled inflation.The monetary report released by the central bank noted that the decision was made to…

New Zealand posts trade surplus

Wednesday, 24 July 2013 13:30
Wellington: New Zealand posted a surprise trade surplus last month as a drop in petroleum and petroleum products imports offset a fall in the value of exports, the government statistics agency announced Wednesday.Export values in June fell by 161 million…

China manufacturing drops to 11-month low: HSBC

Wednesday, 24 July 2013 13:26
Hong Kong: China's manufacturing operating conditions deteriorated at the quickest pace since last August, with HSBC's flash purchasing managers' index (PMI) dropping to 47.7 in July, an HSBC report showed Wednesday.HSBC said flash PMI this month fell to 47.7, down…

US house prices go up

Wednesday, 24 July 2013 12:11
Washington: US house prices remained on an upward track in May on a seasonally-adjusted basis, the Federal Housing Finance Agency (FHFA) reported. House prices in May were 0.7 percent higher than a month earlier, according to the FHFA's monthly House…

Japan registers record trade deficit

Wednesday, 24 July 2013 12:19
Tokyo: Japan logged a 4,843.8 billion yen goods trade deficit for the six months period through June, the biggest on record for any half-year period, the government said Wednesday. During the January-June period, the value of imports advanced 9.2 percent…

Mexico plans to invest $1.5 bn in digital TV

Wednesday, 24 July 2013 12:10
Mexico City: The government plans to invest 18.76 billion pesos ($1.49 billion) to aid the transition to digital television in Mexico by the end of 2015, an official said.Last Thursday, Tijuana, a border city in the northwestern state of Baja…

Economy contracted in second quarter: Bank of Spain

Wednesday, 24 July 2013 11:09
Madrid: The Spanish economy contracted 0.10 percent in the second quarter of this year, an improvement of 0.40 percent compared to the first quarter, the Bank of Spain said in a report Tuesday.The economy contracted 1.8 percent on a year-on-year…

Russia releases 13 'economic criminals' under amnesty

Wednesday, 24 July 2013 10:49
Moscow: Thirteen businessmen imprisoned for various economic crimes in Russia have been set free under an amnesty, a presidential envoy said."As of now, 13 people have been released under the amnesty," Boris Titov, presidential envoy for protection of the business…