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Yahoo profit surges on Alibaba divestment, mobile SAN FRANCISCO: Yahoo said Tuesday its quarterly profit surged with its sale of shares in Chinese Internet powerhouse Alibaba, and that it was seeing signs of life in its mobile Internet initiatives.Net profit jumped to $6.8 billion, which included $6.3 billion from its Alibaba shares. But profit was stronger than expected, and pumped up Yahoo shares by 3.1 percent in after-hours trade.Revenue from operations inched up a percent to $1.15 billion, according to third quarter results welcomed by chief executive Marissa Mayer, who is under pressure to show the company can flourish apart from its lucrative investment in Alibaba."We had a good, solid third quarter," Mayer said."We achieved this revenue growth through strong growth in our new areas of investment -- mobile, social, native and video -- despite industry headwinds in some of our large, legacy businesses."More than $200 million in revenue came from mobile devices, with gross revenue from ...


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 ...

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 ...


 



 
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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