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Young CEO of Burger King turned a small burger chain into a cash machine KARACHI: Young CEO of Burger King Daniel Schwartz who started selling whoppers through small drive-through window has now made this small window into one of the biggest burger chain across the world. According to foreign media, “It’s uncommon to find a CEO of a large public company as young as Schwartz. After Facebook’s Mark Zuckerberg, he would be the youngest CEO of the Fortune 1000, if Burger King made that list”.Having no experience in the industry, Schwartz spent his first couple of months training in Burger King Restaurants cleaning toilets, making burgers, and interacting with customers.His experience led him to believe that the complicated menu was slowing down orders. So he simplified the burger chain’s offerings to include dishes that are easier to assemble,” media reported.Now Schwartz has been working on the infrastructure of his franchises across the globe.Media reported, “Schwartz is Burger King’s 21st CEO since the company was ...


Amazon loss widens despite climbing sales SAN FRANCISCO: Internet retail titan Amazon on Thursday reported a money-losing quarter despite impressive growth in sales, sending shares plummeting by more than 10 percent.The Seattle-based firm said that it had a net loss of $126 million in the quarter that ended June 30, widening the deficit from $7 million in the same period a year earlier.Sales, meanwhile, climbed to $19.34 billion in a 23 percent rise from the second quarter of last year.Amazon shares ...

Turkey to inaugurate Ankara-Istanbul high speed train line ANKARA: Turkey on Friday inaugurates the first high-speed train link between its main cities of Ankara and Istanbul, in the latest bid by Prime Minister Recep Tayyip Erdogan to modernise the country's infrastructure.After years of constant delays that has seen the project become a standing joke among Turks, Erdogan on Friday evening is due to glide into Istanbul aboard the first train.The opening comes ahead of presidential elections on August 10 that are expected to ...

Kia Motors second-quarter net profit down 13.3pc SEOUL: South Korea's Kia Motors said Friday its second-quarter profit fell 13.3 percent year on year, as a pick-up in sales was offset by a stronger won that hurt exports.Net profit for April-June at the country's second largest auto maker came to 1.02 trillion won ($988 million), with unit sales up 4.3 percent year on year.Operating profit plunged 31.7 percent on-year to 769.7 billion won in the three-month period."As the won remained high, profitability fell ...

GM profit skids on recall costs NEW YORK: General Motors on Thursday posted a sharp drop in second-quarter profit as the automaker took heavy charges for massive recalls and a compensation fund for victims of faulty ignition switches.GM net profit dived 85 percent from a year ago to $190 million, well below analyst expectations.Adjusted earnings per share of 58 cents came in a penny below estimates.The largest US automaker took a pre-tax net loss from special items of $1.3 billion, and ...

Microsoft Devices Group expands affordable smartphone portfolio with the Nokia X2 KARACHI: Microsoft Devices Pakistan unveiled the Nokia X2, the newest addition to the expanding Nokia X family of affordable Smartphones designed to introduce the “next billion” people to the mobile Internet and cloud services. The Nokia X2 represents the rapid evolution of the Nokia X family, delivering an enhanced experience across apps, hardware and the user interface. The Nokia X2 offers stunning design, a more visually striking Fastlane, more Microsoft services, and upgraded specifications including ...

Danske Bank shares hit six-year high after raised outlook COPENHAGEN: Danske Bank A/S has raised its 2014 net profit forecast after posting its best quarterly result since the start of the global financial crisis in 2008, sending its shares up 4.5 percent to a six-year high.Denmark's largest lender said it now expected to earn between 10 billion Danish crowns ($1.8 billion) and 13 billion in net profit in 2014, against a previous forecast of hitting the higher end of a 9 to 12 billion ...


 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln