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Coke income falls in Q3, hit by slow economies, forex NEW YORK: Soft drinks king Coca-Cola made headway in global volume sales in its third quarter but net earnings fell sharply, hit by slower economic growth and volatile currencies.Coke reported Tuesday a slight fall in total operating revenues around the world to $11.98 billion for the quarter to September 26. Net income however dropped 13.6 percent to $2.12 billion, and earnings per share dropped to 48 cents from 54 cents. Excluding exceptional items, earnings per share were flat at 53 cents, matching the average forecast of analysts.Coke said volatile foreign exchange markets and especially the strengthening of the US dollar against most other currencies took a toll on the company. If currency swings were factored out, the company said, earnings per share would be up six percent.Still, the flat revenue showed the challenge the company faces in boosting sales and earnings in a tough global environment. It stressed the focus ...


McDonald's profit slumps, sales fall NEW YORK: McDonald's on Tuesday said profit slumped in the third quarter as global sales fell amid a food-safety scandal in China and intense competition in the United States.Net income plunged 30 percent in the July-September quarter from a year ago to $1.07 billion, the US fast-food restaurant giant said.Earnings per share of $1.09 were well below the Wall Street estimate of $1.37.McDonald's president and chief executive Don Thompson was blunt about the results: "By ...

Austrian central bank sees weak GDP growth for rest of 2014 VIENNA: Austria's economy will likely have grown just 0.1 percent in the third quarter and grow 0.2 percent in the fourth as exports slacken and political tensions cap business and consumer sentiment, a leading indicator suggested on Tuesday.The latest readings from the central bank's quarterly business cycle indicator added to evidence that the euro zone is stuck in a quagmire of weak growth and inflation, with even Germany, its biggest member, close to a recession.The ...

Romania central bank expects no surprises from ECB stress tests BUCHAREST: European Central Bank financial stress tests should not reveal any surprises for the Romanian banking system, the Bucharest central bank's governor Mugur Isarescu said on Tuesday, despite funding from the West having fallen.Isarescu told reporters funding from foreign banks for their Romanian affiliates had fallen by 9 billion euros over the past five years.The ECB publishes the results of its comprehensive review of the health of Europe's 130 biggest banks on Sunday, Oct. 26.Copyright ...

India's HDFC Bank Q2 profit up 20pc, lags estimates MUMBAI: HDFC Bank Ltd, India's second-biggest private sector lender by assets, on Tuesday reported a 20 percent rise in quarterly net profit, lagging estimates, due to higher tax expenses and provisioning for loan losses.Net profit rose to 23.81 billion rupees ($388.51 million) in its fiscal second quarter to Sept. 30, from 19.82 billion rupees a year earlier, the Mumbai-headquartered bank said in a statement.Analysts had on average expected a net profit of 24.25 billion rupees.Copyright ...

As China gets tougher on fuel economy, some carmakers may be left behind SHANGHAI/BEIJING: Chinese automakers from state-owned FAW Co to Zhejiang Geely are racing to sell more eco-friendly cars as they try to meet tough fuel economy rules due next year as part of Beijing's battle against pollution.But many of China's smaller indigenous automakers will struggle to make the costly upgrades needed to meet the new rules, which aim to push more efficient energy use and which are expected to be toughened every year through 2020.A technology ...

Swedbank warns on growth as quarterly profit tops forecast STOCKHOLM: Banking group Swedbank said on Tuesday growth in its home markets could be dragged down by a weak global economy and political uncertainty in Sweden as it posted forecast-beating profits boosted by lending to corporate and mortgage clients.The bank, which pulled out of Russia and Ukraine last year to focus on Sweden and the Baltics, warned credit demand in the Baltics could be hit by turmoil in Ukraine but said it had not yet ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 20, 2014
Reserves $13.436 bln