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PARIS: French telecom and Internet company Iliad's sales soared by nearly 40 percent in the first quarter, the company said Wednesday, boosted by the success of its mobile operator Free.The company said sales hit 907 million euros ($1.17 bn) in the first quarter, with nearly a third (294.5 million) from mobile services launched in January 2012.The entry of Free with low cost offers has shaken up the French mobile market, hitting sales of competitors Orange/France Telecom by 5.9 percent, SFR by 11.4 percent and Bouygues Telecom by 16 percent.Telecom prices are down by 16 percent, according to data published by the French statistics agency Insee, with operators earning less revenue per client.During the first quarter of this year Free attracted 870,000 new mobile clients, taking its total to 6.1 at the end of March, for nearly 10 percent of the market. Finance director Maxime Lombardini said the company had a ...
LONDON: HSBC said it does not expect Britain to change its bank levy policy before the next general election due in 2015 and said it is likely to pay about $800 million on the tax this year.HSBC has said the levy unfairly hits banks with big overseas operations. Half its payment last year was on non-UK banking activity."We have had all the conversations we could possibly have with all the people we could have them ...
NEW DELHI: State-run Air India on Wednesday resumed flights of its Dreamliner jets four months after global regulators grounded the Boeing planes following technical glitches in the passenger aircraft.All 50 Dreamliners operating globally were grounded in January after a fire aboard a parked Japan Airlines 787 in January and a smoking battery that forced the emergency landing of an All Nippon Airways 787 the same month.The US Federal Aviation Administration approved Boeing's new battery system ...
LONDON: Compass Group, the world's biggest caterer by sales, said on Wednesday logged flat net profits for the first half of its financial year amid difficult trade in Europe and Japan.Profits after taxation stood at £424 million ($647 million, 499 million euros) in the six months to the end of March, compared with £427 million a year earlier, Compass said in a results statement.Underlying operating profit from continuing operations however grew 5.3 percent to £650 ...
FRANKFURT: Money poured into asset manager PIMCO's funds in the first three months of 2013, giving a strong boost to earnings of its parent company, German insurer Allianz.The Pacific Investment Management Company, which runs the world's biggest bond fund, recorded net inflows of third-party assets of over 40 billion euros ($51.9 billion) from January to March, nearly double those in the year-earlier quarter, Allianz said on Wednesday.Allianz Chief Financial Officer Dieter Wemmer said the inflows ...
MOSCOW: The Russian Finance Ministry sold overall 39.2 billion roubles ($957.7 million) in two separate auctions of ten-year and five-year OFZ treasury bonds on Wednesday, placing nearly all the amount on offer after a holiday period.The ministry fulfilled all the demand at the top of the previously announced guidance range of 6.60-6.65 percent for the 10-year paper, selling at an average yield of 6.64 percent.Demand for the 5-year treasury bond came at 19.5 billion roubles, ...
LONDON: Following are the highlights of remarks made by Bank of England Governor Mervyn King after the central bank published its quarterly inflation report on Wednesday.KING ON BRIGHTER OUTLOOK"Today's projections are for growth to be a little stronger and inflation a little weaker than we expected three months ago, that's the first time I've been able to say that since before the financial crisis."But this is no time to be complacent we must press on ...More Articles...
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