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Japan's Canon posts 10pc profit rise on weak yen TOKYO: Japan's Canon said Wednesday that net profit grew 10.5 percent in 2014 owing to the impact of a weak yen and cost cuts as well as strong demand for its office equipment.The camera and copier maker's annual profit came in at 254.8 billion yen ($2.2 billion), while operating profit rose 7.8 percent from a year ago to 363.5 billion yen.Sales edged down 0.1 percent to 3.7 trillion yen but the profit gains came thanks to "continuous cost-cutting activities and the yen's depreciation", Canon said. Japan's currency has declined sharply against the dollar recently, a plus for exporters as it inflates the value of repatriated overseas income. "Demand for office multifunction devices and laser printers maintained steady growth," Canon said.But it added "demand for interchangeable-lens digital cameras continued to face harsh conditions due to the economic slowdown."As for digital compact cameras, demand continued to shrink in both developed countries and ...

Japan's Nintendo says Apr-Dec net profit surges six-fold to $504mn TOKYO: Japanese videogame giant Nintendo said Wednesday its April-December net profit soared six-fold to $504 million as a sharply weaker yen boosted its bottom line and helped offset slowing sales.For the fiscal year to March 31, the Kyoto-based company also raised its annual net profit forecast to 30 billion yen ($254 million), from an earlier 20 billion yen estimate, but the Super Mario creator trimmed sales and operating profit forecasts.Between April and December, Nintendo posted ...

Bombardier expects new orders after China high-speed train safety clearance BEIJING: Canada's Bombardier Inc expects to receive safety certification from China for its high-speed trains as early as next month, providing a springboard for more orders, the firm's top executive in the country said.The regulatory clearance, after years of tests, means Bombardier will be able to begin delivering 80 of its CRH380D trains first ordered in 2009, worth an estimated $2 billion to the Canadian firm. China tightened rail safety rules after 35 people died ...

Apple profit hits record on 'staggering' iPhone sales SAN FRANCISCO: Apple's quarterly profit rocketed to a corporate record $18 billion at the end of last year on booming sales of big-screen iPhone models, especially in China.The California tech titan also announced Tuesday that it had sold its one billionth device powered by its iOS mobile operating system, on a day of dizzying figures -- even by Apple's high standards.And it said that its highly anticipated Apple Watch wearable devices, unveiled last year to ...

Yahoo announces tax-free spinoff of Alibaba stake NEW YORK: Yahoo is spinning off its stake in Chinese Internet giant Alibaba, splitting off the valuable holdings in a move that sidesteps taxes.The strategy laid out on Tuesday aims to deliver more cash for shareholders than an outright sale of the $40-billion stake, avoiding a hefty tax bill, and to help Yahoo's efforts to refocus under chief executive Marissa Mayer.Mayer told a conference call the deal "maximizes value for shareholders" and avoids a potential ...

Swiss bank on safe haven label to become world's data vault GENEVA: Switzerland, facing an erosion of the banking secrecy laws that helped make it the world's banker, is now touting its reputation as a safe and stable haven to become a global data vault.More and more companies are flocking to the wealthy Alpine country to stock data in an era of increasing espionage and hacking, and the Swiss are reaping the benefits of the paranoia."Data storage is the new Eldorado for Switzerland. It's a real ...

Google super-fast US Internet service spreads SAN FRANCISCO: Google's super-fast Internet service -- up to 100 times quicker than basic broadband -- is heading for four more US metropolitan areas as the technology titan ramps up pressure on cable service giants.A Google Fiber program launched nearly five years ago will expand to 18 cities in the Atlanta, Charlotte, Nashville and Raleigh-Durham areas."We can't wait to see what people and businesses across the southeast US do with gigabit speeds," Google Fiber vice ...


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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