World Bulletin / News Desk
The chairman of the state-owned National Bank of Egypt (NBE), the country's largest bank by assets, has resigned from his post and his resignation accepted by the prime minister, the cabinet said in a statement on Saturday.
Prime Minister Hisham Kandil accepted the resignation of Tarek Amer on Saturday, the statement said. It did not explain the reasons behind the move. Amer could not immediately be reached for comment.
Amer has held the post since 2008, and was responsible for major administrative and financial restructuring of the bank during his 5-year post, the cabinet statement said.
The NBE, established in 1898, was the last of Egypt's four main state-owned banks to bring in managers from the private sector, in a reform process that began with Banque du Caire in 2000. The banks had struggled under four decades of state bureaucracy.
Amer brought in 140 new senior managers and 1,500 junior managers after he took up his position in April 2008.
Long queues at public petrol stations in Sana'a, as private stations have little fuel to oil to sell
The Yue Yuen facilities in Gaobu comprise the company's biggest manufacturing centre. In addition to Adidas, it also makes shoes for Nike Inc , Saucony and other global brands
The British oil major has paid out billions of dollars in compensation under a settlement. Some claimants are satisfied, but others are irate that BP is now challenging aspects of the settlement
GM plans to build five more plants in China next year, as part of its efforts to ramp up manufacturing capacity there by 65 percent by 2020
Production from conflict-free mines are bagged and tagged with a barcode to make it easily traceable.
"We will further expand our capacities to be able to respond to the high market growth," Jochem Heizmann, head of VW's China operations told reporters on Saturday ahead of the Beijing auto show.
The State Duma lower house on Friday ratified a 2012 agreement to write off the bulk of North Korea's debt. It said the total debt stood at $10.96 billion as of Sept. 17, 2012.
Mt. Gox, once the world's biggest bitcoin exchange, is likely to be liquidated after a Tokyo court dismissed the company's bid to resuscitate its business.
Discussions will continue in the days and weeks ahead, but there is no particular deadline for concluding the talks, the official added.
Russia's oil output stands at over 10 million barrels per day, the world's largest, but it needs new sources of crude oil, including hard-to-recover deposits and the Arctic, to sustain this level
The strike at Yue Yuen is not just one of China's biggest in recent years, it's also more clearly driven by workers' fears that they have been scammed by an opaque and convoluted welfare payment system.
When the system is in place citizens will be able to buy a limited amount of subsidised fuel, and will have to pay a normal, market price for any extra quantities.
Production in Upper Nile state's Paloch oilfields, where output has not been hampered by the conflict, stood at 159,000 barrels per day this week.
Dragomir Stoynev accused fellow European Union members of a politically-motivated attempt to scupper the project, and urged the bloc to understand the effect that doing so would have on its members.
The drops have come mainly because Japan did not take any cargoes in March and South Korea is not scheduled to take any shipments in April, according to the tanker data.
Japan's finance ministry and central bank have declined to comment on the payments.