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Lufthansa CEO says Swiss will not be launch operator for CSeries BERLIN: Lufthansa unit Swiss will not be the launch operator for Bombardier's new CSeries jet, the German airline group's chief executive said on Thursday. "We are the launch customer but when it comes to the physical aircraft Swiss will not be the first one flying the plane," Carsten Spohr told journalists after the group reported third-quarter results. Swiss has ordered 30 of the new jet and is planning to take delivery in the second half of 2015.Copyright Reuters, 2014


Italy's 5-year debt costs rise at auction, 10-year yields stable MILAN: Italy's five-year borrowing costs rose on Thursday at a bond auction as investors fretting about the euro zone's prospects amid slowing global economic growth have increasingly turned to safer assets in recent weeks. Benchmark 10-year yields however remained broadly unchanged as Italy paid 2.44 percent to sell a 2024 bond against 2.45 percent a month ago. The bid-to-cover ratio for the sale of the 10-year bonds was 1.48 versus 1.34 then. Italy sold a ...

Deutsche Bank to help ECB run ABS purchase plan FRANKFURT: Deutsche Bank is one of several financial firms chosen by the European Central Bank to help carry out its plans to buy asset backed securities, two people familiar with the situation said on Thursday. The ECB plans to buy asset-backed securities, which repackage loans, later this year as part of a wider programme to stimulate the euro zone economy. Germany's Manager Magazin Online reported earlier on Thursday that Deutsche Bank was one of four ...

India's Bharti Q2 net profit more than doubles MUMBAI: Indian mobile carrier Bharti Airtel said second quarter net profit more than doubled to 13.83 billion rupees ($225 million), from 5.12 billion rupees a year ago, beating analysts' estimates as the country's top telecom operator added more subscribers for its mobile data services. Analysts, on average, were expecting Bharti Airtel, headed by Indian billionaire Sunil Mittal and nearly a third owned by Singapore Telecommunications, to earn 12.86 billion rupees in profit. Copyright Reuters, 2014 ...

VW profit jumps on record Audi, Porsche sales BERLIN: Germany's Volkswagen posted higher-than-expected operating profit in the third quarter, boosted by European and Chinese buyers of its luxury Audi and Porsche models.Underlying earnings at Europe's largest automotive group jumped 16 percent to 3.23 billion euros ($4.07 billion), VW said on Thursday, beating the top-end forecast of 3.09 billion euros in a Reuters poll of analysts.Buoyed by a recovery in core European markets, the German group stuck to its guidance for a 2014 operating ...

Volkswagen confirms full-year targets after 'robust' Q3 FRANKFURT: Volkswagen, Europe's biggest car maker, said on Thursday it is sticking to its full-year profit targets following a strong rise in profits in the third quarter."The Volkswagen group reported a robust performance in the first nine months of 2014, despite the ongoing uncertain market environment," said chief executive Martin Winterkorn."Given the group's current performance, I am convinced that we will meet our goals for fiscal year 2014," he said. Volkswagen said its net profit ...

Lufthansa says dividend payout may be limited this year BERLIN: Lufthansa said falling interest rates and the costs involved with outsourcing part of its IT division may limit the size of its dividend payment this year.Lufthansa is working on a new dividend policy after changing the way it depreciates its aircraft.Chief Financial Officer Simone Menne told analysts and journalists on Thursday that management would discuss dividend policy at a board meeting in December.Lufthansa will also provide more details of its planned new long-haul low-cost ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJuly-June
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln