02102016Wed
Last update: Wed, 10 Feb 2016 08pm

Business & Finance - Banking & Finance

Australia's Commonwealth Bank H1 profits up two percent SYDNEY: Australia's biggest company Commonwealth Bank on Wednesday posted a modest two percent rise in first-half net profit to Aus$4.62 billion (US$3.26 billion) and said it was well placed to ride out global instability.The result came as nervous investors exited bank stocks in Australia for a second day, with lenders spooked by a global banking share rout on fears of worsening credit quality.The Commonwealth was the exception, gaining 1.83 percent to close at Aus$74.20 but off its daily high."It seems having revenue and loan growth and a very compelling yield means little when there is a solvency issue in European banks and a consistent flattening of the US yield curve, leading to concerns over US banks' margins," said IG Markets' Chris Weston, commenting on the share price.Cash profit for the six months to December 31, a measure often preferred by financial institutions, rose four percent to Aus$4.80 billion, slightly higher ...


Business & Finance - Industries & Sectors

Heineken profits up 25 percent to 1.89bn euros in 2015 THE HAGUE: Dutch brewing giant Heineken on Wednesday announced a 25-percent rise in net profits for 2015, on the back of higher sales and favourable exchange rates.The full-year net attributable profit was 1.89 billion euros ($2.13 billion), compared with 1.52 billion euros in 2014, while turnover was up 6.5 percent to 20.51 billion euros.Chief executive Jean-Francois van Boxmeer paid tribute to what he called the company's "unique geographic diversity and our portfolio of premium brands."The ...

Business & Finance - Industries & Sectors

Nissan says nine-month profit soars on North America sales TOKYO: Nissan on Wednesday said strong North American sales drove it to another surging profit, as the world's top auto market China shows signs of picking up.The Altima sedan maker said its April-December net profit jumped nearly 34 percent from a year earlier to 452.8 billion yen ($3.7 billion), despite weakness in Japan and emerging markets.Nissan, which also said revenue jumped more than 10 percent to 8.94 trillion yen, is the last of Japan's Big ...

Business & Finance - Industries & Sectors

Welcome to the 5G world! 5G remains the next level of in the mobile telecommunications technology, how would it be like? Surely, our phones would a whole lot faster but is that it?Well, Nokia the Finnish technology company provided a preview to the 5G world. According to CNN, Nokia's 5G forecasts revealed some surprising capabilities: Faster InternetYes, we would have much faster internet, a 1000 time faster to be exact to your average 4G. Nokia, claimed that it tested 5G ...

Business & Finance - Banking & Finance

Deutsche Bank shares soar more than 11pc on bond-buying rumours FRANKFURT: Deutsche Bank shares soared more than 11 percent on the Frankfurt stock exchange on Wednesday, driven by speculation it may be considering a bond buyback programme to help ease concern about its funds. Shares in Germany's biggest lender -- which had shed around 13 percent over the previous two sessions on Monday and Tuesday -- topped an intraday high of 14.75 euros in late morning trade on Wednesday, a jump of 11.5 percent on ...

Business & Finance - Industries & Sectors

After Germany, France also reports falling industrial output PARIS: Industrial production in France, Europe's second biggest economy, unexpectedly tumbled again in December, data showed Wednesday, a day after powerhouse Germany also reported a surprise drop in output.France's industrial output dipped by 1.6 percent in December after slipping 0.9 percent the previous month, the national statistics agency INSEE said. The figure took analysts by surprise. Jack Allen, of Capital Economics, said his team had pencilled in a slight rise in French industrial production for ...

Business & Finance - Industries & Sectors

Galaxy S7 Edge, to boost a massive battery It seems like Samsung has finally learned from its mistake, that’s because Samsung upcoming Galaxy S7 Edge, the curved version of the S7 flagship would boost a massive battery i.e. 3600mAh, a jump of 38 percent over the previous S6 Edge.The Korean mobile maker, Samsung, was previously criticized for cutting down the battery capacity of its smart-phone lineup, for both the Galaxy S6 and Note 5, which especially led S6 struggling to make it through ...