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Tuesday 20.11.2018 | Name days: Anda, Andīna

Bank of America credit-card subsidiary writes off 20 billion dollars

The largest bank in the US the Bank of America's (BoA) credit-card subsidiary FIA Card Services NA is reformulating its financials of eight quarters marked with a 20.3 billion US dollars write-down over deteriorating credit and stricter regulations, according to the statement published by the bank.

Nokia announces its new strategy

Mobile phones manufacturer Nokia has come up with a new strategy, including changes in leadership that are not yet publicly announced. This way the company is trying to boost its performance among competitors, according to Nokia statement.

Ryanair’s ex-CEO interested in Brasil’s discount carrier market

The former chief executive of the airline Ryanair Charlie Clifton intends to invest 500 million US dollars in the airline Webjet, in this way developing the flight route network inBrazil, which would be similar to the services provided by Ryanair in Europe.

Unrests keep boosting oil price

Oil price gains reached more than a dollar per barrel in the morning of January 21, following ongoing unrest in OPEC member states spreading also to Middle East and North Africa. Moreover, protests endanger oil supply across the region.

Japan acquires Airbus A380 planes

The Japanese airline Skymark Airlines has reached a definitive agreement on four Airbus A380 aircraft – the world’s biggest airliner – purchase, indicates the statement published by Airbus.

Finland in threat of doubling IT sector unemployment

Job cuts at Nokia are threatening to double the number of the jobless in the information and technology sector in Finland. Currently there are 100 000 people working in the Finnish IT sector.

Foreign investments surge at Russian banks

On January 1, 2011, foreigners’ investments at the Russian banks equity capital amounted to 28.1% of the total volume, which is by 3.5 percentage points more than last year.

Imprisonment for bribery replaced with 500 million rubles fine

Russia’s President Dmitry Medvedev has submitted a Bill to the Council, stipulating sharp increase in the fines for all involved parties in commercial bribery.

Dell’s quarterly profit boosts its share value

On Thursday, February 17, the value of Dell Inc. shares rose 11% after the world’s second largest PC manufacturer announced about the high quarterly profits, thus, reducing concerns about the sustainability of its margins.

EC turns to court against Greece on free capital flow restriction

The European Commission has decided to start legal proceedings against Greece, who has allegedly violated the European Union legislation on free capital flow.

Tension in East nears oil price to 85 dollars

On February 17, the price of oil in Asia came close to 85 US dollars per barrel. Investors are increasingly worried about the political developments in the Middle East, which could escalate and hamper crude oil supplies.

Latvia falls behind Russia and Poland in terms of welfare level

The occurred drop in prosperity, due to the recession, has created a situation where Latvia is at lower position than Russia and Poland, in terms of welfare. Forecasts show that Latvia will not manage to improve the position this year.

UN: world at risk of hunger-related riots

The risk of unrests caused by hunger in the African and Latin American countries has increased due to the food price surge, indicates the published information by the United Nations.

Youngest ever German Central Bank's Head appointed

Jens Weidmann, the Assistant to the German Chancellor Angela Merkel, will be appointed as the President of Germany’s Central Bank, according to one of the officials, whose name has not been disclosed.

Nokia’s share value hits record-low since 1998

On Tuesday 16, the leading cellphone manufacturer Nokia’s share value hit the lowest level in the past twelve years, dropping by almost 20%. This decrease is linked to the announcement made last week on the collaboration with the software developer Microsoft.

Republicans propose cutting US budget for 2012

One of the two major contemporary political parties in the United States The Republican Party has submitted a bill proposing 61 billion dollar cuts of the public expenditure in 2012 budget. The Republicans acknowledge it is not possible to balance the budget simply by reducing nonsecurity and nondefense spending.

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