Europe

Dubai customs foils drug smuggling bid

Dubai customs foils drug smuggling bidEuropean police nabbed man reportedly carrying 2kg cannabis traced by Dubai customs officers during the routine X-ray inspection at Dubai Cargo Village. The suspicious courier package arrived in Dubai from Africa and desired to send in any unknown European destination. The custom inspector found the packet wrapped in such a way to represent the misleading intentions of the person concerned.

Aegon Profit Swings Despite Earlier Losses

Dutch Insurer Aegon, that owns TransAmerica in the United States, swung to a net profit of 145 million Euros in the third quarter from a previous year loss 329 million Euros.

The company said impairments had lowered from 393 million Euros a year to €285 million in the third quarter previous year, while the company had achieved its 2009 cost savings target of €150 million.

ING on Restructuring Spree

ING Group NV has seen net profit improvement in the third quarter on its investments, and streamlining plans are reported to be on track. The company finalized strategies on shunting some of its Dutch retail banking operations, their insurance business deals with insurance, and U.S. online bank, thereby introducing rights issue for €7.5 billion.

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