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Japan to unveil first passenger jet in four decades NAGOYA: The first made-in-Japan passenger aircraft in nearly four decades is being unveiled Saturday as its maker pushes into the booming regional jet sector with an eye to taking on industry giants Embraer and Bombardier.Mitsubishi Heavy Industries, a military contractor best known for its "Zero" World War II fighter, is set to pull back the curtain on its new Mitsubishi Regional Jet (MRJ), a fuel-efficient, next-generation aircraft that claims to offer more passenger comfort with lower operating costs. The jet, which will be delivered to customers from 2017 and was built with assistance from aviation giant Boeing, is being unveiled at a ceremony in the central city of Nagoya on Saturday."The MRJ programme has been making steady progress, and its state-of-the-art aerodynamic design, and a game-changing engine will significantly cut fuel consumption, noise and emissions, helping airlines enhance competitiveness and profitability in the future," Teruaki Kawai, president and chief operating ...

Prices off as global markets recover NEW YORK: US Treasuries prices posted their second straight day of declines on Friday as Wall Street and European stock markets bounced back from a sharp sell-off. Benchmark 10-year notes, which rose in price by as much as 3 points on Wednesday on fears over the global economy, were off 12/32 on Friday to yield 2.172 percent in early New York trading. "Some reason has returned to the market," said Sharon Stark, fixed income strategist ...

Morgan Stanley may further ‘optimize’ commodities business: CEO NEW YORK: Morgan Stanley Chief Executive James Gorman said the bank may "optimize" more of its commodities business as it aims for higher shareholder returns. Speaking on a call with analysts to discuss third-quarter results on Friday, Gorman said the bank is looking for ways to improve earnings and return-on-equity beyond previously announced plans. "We believe we remain well positioned for further capital actions given the magnitude of our fundamental strategic change and our improving ...

Ukraine's industrial output drops 16.6pc y/y in September KIEV: Ukraine's industrial output fell 16.6 percent year-on-year in September, the national statistics office said on Thursday, reflecting the impact of the separatist war in the industrial east of the country. In August, the industrial production fell 21.4 percent, the biggest drop since the height of the global crisis in 2008-2009. Copyright Reuters, 2014

European car sales accelerate 6.4pc in September: trade body PARIS: New car sales in Europe accelerated by 6.4 percent in September, with data released on Friday showing the thirteenth month running of increases as a recovery in the market spreads across the continent.The European Automobile Manufacturers Association said "substantial growth prevailed in all major markets" in the EU in September with nearly 1.24 million new cars sold.Spain led the pack, with sales jumping by 26.2 percent, thanks mainly to its "cash-for-clunkers" programme, although the ...

Volkswagen to recall more than 500,000 cars in China: report BEIJING: Volkswagen's Chinese joint venture will recall more than 500,000 cars in China due to a defect in the rear axles, state media said Friday.The German automaker, which has been in China since the 1980s, will recall a total of 581,090 cars, the official Xinhua news agency said, citing a statement from China's General Administration of Quality Supervision, Inspection and Quarantine."The administration said it launched an investigation into the cars in August and the recall ...

General Electric third quarter profits rise 10.8pc to $3.5bn NEW YORK: Industrial conglomerate General Electric reported higher earnings for the third quarter Friday, with especially strong profit gains coming in its aviation and oil and gas divisions.GE scored a 10.8 percent increase in third-quarter net income to $3.5 billion, as chief executive Jeff Immelt pointed to "significant" profit margin increases in its industrial businesses. "The environment is volatile, but infrastructure growth opportunities exist, and GE is executing well," Immelt said. GE, often seen as ...


Index Closing Chg%
Arrow DJIA 16,614.81 1.31
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Arrow CAC-40 4,081.24 2.25
Arrow Nikkei 14,804.28 2.03
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Arrow Sensex 26,575.65 0.55

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