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Toshiba says leaving North America TV business as profit soars TOKYO: Toshiba said Thursday it was getting out the North American television business and selling its brand in the market to Taiwanese manufacturer Compal Electronics, as the conglomerate reported soaring nine-month earnings.The Japanese company, which is involved in a range of businesses from power generation, transmission systems and medical equipment to computer chips and laptops, pointed to slowing TV sales for the decision to stop development and sales of televisions in North America.Compal would sell televisions under the Toshiba brand, it said, adding that it was also in talks to license its brand to manufacturers in other TV markets outside Japan.Japan's TV makers, also including Sony and Panasonic, have suffered as razor-thin margins and fierce overseas competition dented their bottom line."As the growth of global (TV) market is slowing down, and continues to see harsh price competition, Toshiba has decided to build a new business structure," it said in a ...

Shell announces profit fall on sliding oil prices LONDON: Energy group Royal Dutch Shell on Thursday announced an eight-percent drop in annual net profits owing to a slump in global oil prices and said it would accelerate spending cuts.Profit after tax dropped to $15.05 billion (13.3 billion euros) in 2014 compared with the Anglo-Dutch company's performance one year earlier, dragged down by plunging earnings in the fourth quarter as the cost of crude tumbled."Compared with the fourth quarter 2013, earnings... were impacted by ...

NEC says swings back to profit after smartphone overhaul TOKYO: Japanese information technology firm NEC said Thursday it swung back to profit in the nine months to December, after exiting the smartphone market as part of a broader restructuring.The company said it earned 22.8 billion yen ($193 million) in the April-December period, reversing a 15.09 billion yen loss a year earlier.Operating profit jumped to 35.6 billion yen from a profit of 23.7 billion yen a year ago, after the firm cut away its money-losing ...

Russia's Gazprom profits plunge 61pc, hit by Ukraine row MOSCOW: Russia's gas giant Gazprom on Thursday said its third quarter profits plunged 61 percent as supplies were suspended to Ukraine, one of its main customers.The group's profits between July and September reached 105.7 billion rubles ($1.5 billion) but revenues in that quarter were down 6 percent year-on-year to 1.13 trillion rubles ($16.5 billion).Analysts were expecting the group's profits to drop significantly due to its dispute with Ukraine.Kiev has refused to accept a price rise ...

Britain's Tesco says 2,000 jobs under threat LONDON: Troubled British supermarket giant Tesco said Wednesday it could axe as many as 2,000 jobs under plans to shut 43 stores in a company-wide overhaul.A spokesman for Tesco, which revealed the closures earlier this month, confirmed that 2,000 jobs were under threat but added that staff would be consulted in a bid to find alternative roles wherever possible."We will be speaking to them over the coming weeks," he said, adding that there will be ...

Treasuries prices mostly flat ahead of Fed NEW YORK: US Treasuries were mostly little changed on Wednesday as Wall Street stocks bounced back from a sell-off and bond investors awaited the outcome of a Federal Reserve policy meeting.Trading was thin and choppy, with demand for long-dated bonds continuing to be fed by relatively fat U.S. yields and moderating expectations of inflation, analysts and traders said.Thirty-year bonds were last up 14/32 in price to yield 2.38 percent. Yields on the long bond have ...

Boeing earnings rise on record commercial deliveries NEW YORK: US aerospace giant Boeing Wednesday reported higher quarterly profits, capping a record year of commercial aircraft orders and deliveries.Earnings for the fourth quarter grew 18.9 percent to $1.5 billion.The strong earnings came on the heels of a Boeing announcement in December that it delivered a record 723 jets, surpassing a previous record of 648, on rising demand from newer airlines in emerging markets and more seasoned companies replacing their fleets.In December, Boeing raised ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln