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Amazon, Simon & Schuster sign book retail deal NEW YORK: Amazon has reached a deal with American book publisher Simon & Schuster, the companies said, though the e-commerce giant remains at loggerheads with France's Hachette over e-book pricing. The mutli-year deal with Simon & Schuster, expected to come into effect in early January, allows print and electronic editions from the American publisher to be marketed and retailed by Amazon. The books "will be continuously available for sale at this major retailer through this year's holiday book buying season and well beyond," a source close to the deal told AFP. The same source said Simon & Schuster will retain most control over the retail prices of its books.The deal comes amid on ongoing feud between Amazon and French publisher Hachette over e-book retailing. Amazon has pushed for lower retail prices for e-books, to which Hachette objects. In order to pressure the editor, Amazon has reduced its Hachette stock and ...


New iPhones deliver big profits for Apple SAN FRANCISCO: New big-screen iPhones helped propel Apple's profit and revenue in the last quarter, as the California tech giant smashed earnings expectations.The company reported on Monday that profit rose 13 percent to $8.5 billion, as revenues jumped to $42.1 billion in the fiscal fourth quarter ending September 27.Apple said it sold more than 39 million iPhones in the quarter, boosted by last month's launch of the large-screen iPhone 6 and 6 Plus, which hit ...

China Sept power output rebounds on higher industrial output SHANGHAI: China's power output, a bellwether for the country's economic activity, rose 4.1 percent from a year ago in September, rebounding from the sharp fall in the preceding month as industry activity rose, official data showed on Tuesday. An output of 454.2 billion kilowatt hours (kWh) in September was, however, down 8.4 percent from 495.9 billion kWh in August, marking the second straight monthly decline driven largely by a cooler autumn weather and reduced hydroelectric ...

Australia approves Asian bid for food manufacturer SYDNEY: Australia's foreign investment watchdog has approved an Asian consortium's Aus$1.34 billion (US$1.18 billion) bid for Goodman Fielder, the food manufacturer said Tuesday.The approval brings Singapore-based agribusiness Wilmar International and Hong Kong investment manager First Pacific Company one step closer to taking over the company, although the deal still needs approval from China's commerce ministry."The Foreign Investment Review Board has notified Wilmar International and First Pacific Company Limited that it has no objection to the ...

ECB starts buying covered bonds in fight to revive euro zone economy FRANKFURT/PARIS: The European Central Bank has started buying covered bonds, an ECB spokesman said on Monday, opening a new front in its battle to revive the euro zone economy and keep deflation at bay.The ECB has already given banks the opportunity to borrow four-year loans and will also start buying bundled loans or asset-backed securities (ABS) later this year, having now cut its main interest rate to almost zero.By taking some of these assets off ...

China Mobile net income falls 9.7 percent BEIJING: China Mobile Ltd, China's largest telecom provider, saw net income for the first three quarters of 2014 fall 9.7 percent to 82.6 billion yuan ($13.49 billion) amid rising competition from rival carriers and Internet-based service providers.The carrier, which has been leading China's next-generation 4G telecom network roll-out, said the number of 4G customers reached 41 million by the end of September.Copyright Reuters, 2014

Philips blames Russia, China slowdowns for plunge into loss THE HAGUE: Dutch electronics giant Philips on Monday posted a 103-million-euro ($131 million) net loss on third-quarter earnings, blaming a patent lawsuit and ever-slowing markets in China and Russia."We are not satisfied with our overall performance for the third quarter," said chief executive Frans van Houten."We are facing sustained softness in a number of markets such as China and Russia. We were also confronted with an adverse jury verdict with a surprisingly high proposed award ...


 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln