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Google quarterly profit edges up on revenue surge NEW YORK: Google said Thursday first-quarter profit edged higher from a year ago as the Internet giant reported a healthy rise in advertising revenues.Net profit rose four percent from a year earlier to $3.59 billion, while revenue surged 12 percent to $17.3 billion, led by gains from online advertising.Like other global firms, Google saw its results hit by the strong dollar.Chief financial officer Patrick Pichette said that on a constant-currency basis, revenue grew 17 percent from a year ago."We continue to see great momentum in our mobile advertising business and opportunities with brand advertisers," he said in the earnings statement.Advertising made up the bulk of Google revenues, and receipts from its own sites and those of its partners rose more than 10 percent from a year earlier.The results nonetheless were short of most Wall Street forecasts, and underscored competition with Facebook, which this week reported a 46 percent jump in ...

Reorganization costs hit Microsoft profit SAN FRANCISCO: Microsoft reported a drop in quarterly profit Thursday, dragged down by higher costs for restructuring and integrating Nokia mobile phone operations.The tech giant's net profit for the fiscal quarter ending March 31 fell 12 percent to $4.985 billion on revenues which rose six percent to $21.7 billion.Chief executive Satya Nadella, who took the reins a year ago to help lead Microsoft into a much-changed tech landscape, cited gains in Internet "cloud" services and ...

US bond market rebounds on weak data, Greece NEW YORK: US Treasuries yields fell on Thursday with benchmark yields retreating from 3-1/2-week highs as investors stepped back in the bond market a day after a broad selloff in Treasuries, German Bunds and British gilts.A larger-than-expected 11.4 percent drop in domestic new home sales in March, together with disappointing global factory data, rekindled doubts about whether the U.S. economy is strong enough for the Federal Reserve to raise interest rates this year."The weaker economic ...

Novartis says Q1 earnings fall, annual target on track ZURICH: Swiss pharmaceutical giant Novartis on Thursday said its first quarter income had fallen but maintained it would still meet its targets for this year.The Basel-based firm said core net income fell to $3.2 billion, from $3.33 billion a year ago, while sales fell 7 percent to $11.9 billion from continuing operations.Novartis, which formed a joint venture with Britain's GlaxoSmithKline for consumer health products and sold an animal health division to Eli Lilly, said net ...

Hyundai Motor posts 2.2pc drop in first-quarter profit SEOUL: South Korea's top automaker, Hyundai Motor, Thursday reported its fifth consecutive drop in quarterly earnings after a slump in emerging market currencies slashed profits in the first three months of the year. Net profit for the January-March period fell 2.2 percent to 1.98 trillion won ($1.83 billion), compared with 2.03 trillion won a year ago, the company said in a statement.Chief financial officer Lee Won-Hee attributed the result -- which still beat the 1.71 ...

Alcatel-Lucent boss to go without 2.4mn euro golden parachute PARIS: The boss of French telecoms equipment maker Alcatel-Lucent has confirmed that he will not be taking his 2.4-million-euro "golden parachute" after the firm was swallowed up by its rival Nokia this week.Michel Combes, who has headed the French-American company since 2013, is due to step down as part of the 15.6-billion-euro ($16.6 billion) deal to create the world's biggest supplier of mobile phone network equipmentWith fears that French jobs may be at risk, and ...

Facebook profit down but revenues, user base grow NEW YORK: Facebook said Wednesday that profit in the first quarter plunged 20 percent from a year ago but revenues got a lift from robust growth in mobile advertising.The world's biggest social network also boosted the number of users to 1.44 billion, up 13 percent from a year earlier, including 1.25 billion people who access Facebook on mobile devices.Net profit in the quarter for shareholders dropped to $509 million, amid hefty increases in spending on ...


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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.586 bln
Exports $1.932 bln
Imports $3.518 bln
WeeklyApril 16, 2015
Reserves $16.818 bln