HSBC says 2015 profit dipped to $13.5 billionFebruary 22, 2016 - 10:13 AMT PanARMENIAN.Net - HSBC says profit last year dipped 1 percent to $13.5 billion after it unexpectedly posted a loss for the final quarter, the Associated Press reports. Europe's biggest bank said Monday, Feb 22, that it lost $1.3 billion in the final three months of 2015, compared with a $511 million profit in the same period the year before. Chairman Douglas Flint said the results were "broadly satisfactory." He said in a statement that last year was marked by "seismic shifts in global economic conditions," notably sharp falls in prices for oil and other commodities, partly stemming from slowing growth in China. The bank has been steadily trimming back its global operations as part of a sweeping reorganization in order to focus on Asia, where it expects the region's growing numbers of wealthy to drive profits. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |