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Samsung Electronics posts 8pc fall in Q2 net profit SEOUL: South Korean giant Samsung Electronics posted an 8.0 percent fall in second quarter net profit Thursday and promised "flexible" pricing of its new flagship smartphone after less than stellar sales contributed to a slump in its mobile unit's earnings.The world's largest smartphone maker said net profit for the April-June period stood at 5.75 trillion won ($4.9 billion), down from 6.25 trillion won a year ago and slightly below analyst estimates.The conglomerate has now seen its net profit decline for five straight quarters year-on-year, mainly due to heightened competition in an increasingly saturated smartphone market that it had dominated for years.Operating profit also shrank 4.03 percent from a year ago to 6.9 trillion won, while sales dropped 7.3 percent to 48.5 trillion won.Samsung has faced a double challenge from US arch-rival Apple in the high-end smartphone market and rising Chinese firms like Xiaomi in the mid- and low-end market.Hopes of ...

Japan Airlines April-June net profit more than doubles to $263mn TOKYO: Japan Airlines (JAL) said Thursday its net profit in the April-June quarter more than doubled thanks to a jump in tourist arrivals and a drop in fuel costs.The carrier said net profit came in at 32.61 billion yen ($263 million), more than double the same period last year, with sales coming in at 312 billion yen, up 1.6 percent.Copyright AFP (Agence France-Presse), 2015

Royal Dutch Shell to cut 6,500 jobs on oil price slump LONDON: Royal Dutch Shell on Thursday said it plans to reduce its headcount by 6,500 this year owing to sliding oil prices and as it looks to complete a mega takeover."Today's oil price downturn could last for several years, and Shell's planning assumptions reflect today's market realities," the company said in a statement, adding that it anticipates "some 6,500 staff and direct contractor reductions in 2015".Shell earlier this year unveiled a mega-takeover of British rival ...

Drugs giant GSK logs slump in quarterly profit LONDON: British drugmaker GlaxoSmithKline on Wednesday posted slumping quarterly earnings, hit partly by lower profit margins for vaccines acquired under an asset swap deal with Swiss peer Novartis.Earnings after taxation tumbled 77 percent to £149 million ($232 million, 210 million euros) in the three months to June, compared with a year earlier, GSK said in a results statement. Turnover grew seven percent to £5.89 billion.Adjusted operating profit meanwhile slid four percent to £1.349 billion in ...

Kuwait's Zain telecom Q2 profit dives over Arab unrest KUWAIT CITY: Kuwait telecom giant Zain's net profit in the second quarter slumped 34 percent as its businesses were hit by unrest in some Arab countries, the company said on Wednesday.Zain said it posted a net profit of 39 million dinars ($129 million) in the April-June period from 59.1 million dinars ($196 million) a year ago.Overall net profit of Kuwait's largest mobile operator in the first six months also dropped by 30 percent to 80 ...

Peugeot returns to profit in first half PARIS: French automaker Peugeot on Wednesday announced a return to profitability in the first half of the year with a net profit of 571 million euros ($630 million), sending its share price soaring.PSA Peugeot Citroen shares were up 5.54 percent to 18.77 euros in generally flat mid-afternoon trading on France's CAC 40.The group had posted a 114 million euro loss in the first half of 2014.Analysts at Morgan Stanley called the group's first positive semester ...

Singapore Airlines says Q1 net profit more than doubles SINGAPORE: Singapore Airlines (SIA) said Wednesday its first quarter net profit more than doubled from a year earlier as fuel expenses fell due to lower oil prices.Net profit for the three months to June came in at Sg$91.2 million ($67 million), up 162 percent from Sg$34.8 million in the same period last year, the airline said in a filing to the Singapore Exchange.Revenue rose 1.4 percent to Sg$3.73 billion, but the carrier warned of challenges ...


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln