Just in:  

You are here: Home»Business


Apple ties with Samsung as world's top smartphone vendor SEOUL: Apple caught up with Samsung as the world's biggest smartphone vendor in the fourth quarter of 2014, thanks to booming sales of its new iPhone 6, market researcher Strategy Analytics said Thursday. Apple reported a record net profit of $18 billion in the quarter, on the back of what the California tech titan described as "staggering" iPhone 6 sales -- especially in China.Its South Korean rival, on the other hand, has seen its quarterly profits slashed in 2014, in the face of escalating competition at every price point.Strategy Analytics said Apple shipped 74.5 million handsets in the fourth quarter, compared to 51 million a year ago.Samsung logged the same number of shipments, which in its case marked a downturn from 86 million the previous year.The turnaround saw Samsung's share of the global smartphone market tumble from 30 percent to 19.6 percent, on a par with Apple. Samsung, which belatedly ...

ECB QE could cause 'competitive depreciation' BEIJING: The European Central Bank's new quantitative easing (QE) measures could trigger "competitive depreciation" of currencies around the world, China's commerce ministry warned Thursday.The ECB last week unveiled a programme to buy 60 billion euros ($68 billion) of private and public bonds each month starting in March, a move intended to ward off deflation in the eurozone.The figure was more than the 50 billion euros expected by analysts, and the unprecedented scheme will total over ...

Japan's top steelmaker cuts full-year profit forecast TOKYO: Nippon Steel & Sumitomo Metal said Thursday its nine-month net profit dropped 20.3 percent as it slashed its full-year profit forecast, citing the impact of plunging oil prices on a Brazilian unit.The Tokyo-based company, one of the world's biggest steelmakers, said its earnings for the April to December period came in at 153.6 billion yen ($1.3 billion), while sales rose 3.6 percent to 4.18 trillion yen.Nippon Steel blamed part of the profit slump on ...

Samsung posts first annual profit decline in three years SEOUL: Samsung Electronics posted its first drop in annual net profit in three years Thursday and saw resurgent arch-rival Apple barge in on its pole position as the world's top smartphone maker.The South Korean firm, whose key mobile phone operations have struggled in the face of intense competition from cut-price Chinese rivals, also warned that it expected 2015's "business environment... to be as challenging as 2014."The tech giant said Thursday it recorded a net profit ...

Japan carrier Skymark's shares plunge after bankruptcy filing TOKYO: Shares in Japan's Skymark Airlines lost a quarter of their value on Thursday after the struggling carrier filed for bankruptcy protection, citing potentially crippling penalties over a cancelled $2.2 billion jet order with Airbus.The embattled airline's shares dropped 25 percent to 237 yen ($2) -- their daily loss limit -- as investors reacted to news late Wednesday that Japan's third-largest carrier would file for bankruptcy, in an acknowledgment that efforts to turn itself around ...

Toshiba says leaving North America TV business as profit soars TOKYO: Toshiba said Thursday it was getting out the North American television business and selling its brand in the market to Taiwanese manufacturer Compal Electronics, as the conglomerate reported soaring nine-month earnings.The Japanese company, which is involved in a range of businesses from power generation, transmission systems and medical equipment to computer chips and laptops, pointed to slowing TV sales for the decision to stop development and sales of televisions in North America.Compal would sell ...

Shell announces profit fall on sliding oil prices LONDON: Energy group Royal Dutch Shell on Thursday announced an eight-percent drop in annual net profits owing to a slump in global oil prices and said it would accelerate spending cuts.Profit after tax dropped to $15.05 billion (13.3 billion euros) in 2014 compared with the Anglo-Dutch company's performance one year earlier, dragged down by plunging earnings in the fourth quarter as the cost of crude tumbled."Compared with the fourth quarter 2013, earnings... were impacted by ...


Index Closing Chg%
Arrow DJIA 17,409.00 1.31
Arrow Nasdaq 4,683.41 0.98
Arrow S&P 2,017.30 0.95
Arrow FTSE 6,810.60 0.22
Arrow DAX 10,737.87 0.25
Arrow CAC-40 4,631.43 0.44
Arrow Nikkei 17,606.22 1.06
Arrow H.Seng 24,595.85 1.07
Arrow Sensex 29,681.77 0.41

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln