TORONTO — CIBC is the latest Canadian bank to beat analyst profit estimates with its second-quarter earnings.CIBC says it earned $811-million of net income in the second quarter, up from $767-million in the comparable period last year.That amounted to $1.90 per diluted share of net income, or $2 per share on an adjusted basis. [np-related]On average, analysts were expecting $1.88 per share of adjusted earnings, according to figures compiled by Thomson Reuters.CIBC’s total revenue was just under $3.1-billion, including $2-billion from its core retail and business banking operations.Analysts had expected CIBC’s overall revenue to be just over $3.1-billion.“CIBC’s solid results in the second quarter reflect our strong focus on our clients as well as our underlying business fundamentals,” CIBC chief executive Gerry McCaughey said in the announcement.“The investments we are making in our retail and business banking, wealth management and wholesale banking businesses are furthering our strength and positioning us well for the future.”CIBC’s core business in retail and business banking provided $556-million of the net profit, up from $496-million in the second quarter of 2011.CIBC’s wealth management operations also showed a higher profit, which rose to $79-million from $73-million while net income from wholesale banking was flat.
PHNOM PENH, Cambodia — The leaders of Cambodia and Laos have agreed to step up efforts to complete demarcation of their border, where disputes have led to armed confrontations in recent years.Prime Minister Hun Sen and his visiting Lao counterpart, Thongloun Sisoulith, agreed in a statement Thursday to complete the process now that 86% of the border has been marked. The two countries are to add border pillars and produce a map of the borderline as party.Cambodia and Laos reportedly dispatched troops to the border region last month in a standoff over the disputed boundary.There was a similar confrontation in August 2017 when Laos objected to Cambodia’s construction of a road in disputed territory.The Associated Press
← Previous Story SEHA GSS in 2015: Metalurg beat Nexe Next Story → ZRK Vardar and Kim Rasmussen go their separate ways after only 28 days! After winning the eighth place at the 24th Men’s Handball World Championship in Qatar, two Slovenian stars, Dragan Gajic and Uros Zorman announced that this was the last WCh for them:– WC in Qatar is over. I can say we did a good job, we ensured a qualifying ticket for OG in Rio, which was our primary goal! This WC was special for me also. My dreams came true with finishing as top scorer and best right wing in the world. That’s why i decided that this was my last WC. Now, all thoughts are directed into qualifying for EURO 2016 in Poland and participation at Olympic Games in Rio 2016!! Let’s do it! – wrote 31 years-old right wing Dragan Gajic on his FB profile.Gajic was a TOP scorer of the tournament and also elected for the “All Star TEAM”.Slovenian media wrote that the same decision made Gajic’s roomate – a 35 years-old Uros Zorman.Slovenia are close to play in the Olympic qualifications, despite Boris Denic guys lost the decisive battle against Germany for the seventh place. If Qatar win the upcoming Asia qualifications or some of the European teams from positions 2-7 in Doha take EURO 2016, that will put Slovenia into one of the three qualification’s tournament. Dragan GajićUros Zorman