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France's Total beats Q3 profit forecasts, CEO to visit oil leaders PARIS: French oil company Total's new chief will visit oil-rich countries to cement links with their leaders after the sudden death of his predecessor and will go ahead with cost cuts after falling oil prices squeezed third-quarter profits.Europe's second-largest oil company elevated former refining head Patrick Pouyanne to the top post following the death this month of its charismatic chief executive Christophe de Margerie in a plane crash in Russia.Pouyanne said he would carry out de Margerie's plan to reduce capital expenditure and operating costs, aimed at returning more cash to shareholders."The recent decrease in the price of Brent highlights the importance of the programmes we launched to reduce costs and control investments to strengthen the resilience of the group," he said.Third-quarter net adjusted profit fell 2 percent to $3.56 billion, hit by the oil price drop and not quite offset by a sharp increase in refining margins. But it ...

Deutsche Bank slumps to quarterly net loss as legal costs weigh FRANKFURT: Deutsche Bank AG fell to a net loss in the third quarter after falling victim to the legal costs which already this week prompted a management reshuffle designed to help tackle a long list of unresolved litigation issues.Germany's top lender has stumped up around 7 billion euros ($8.9 billion) in fines and charges since 2012, overshadowing management efforts to restructure and reform the bank and making its stock one of the worst performers in ...

Hungary cental bank extends lending for growth programme BUDAPEST: Hungary's central bank has extended its cheap small business credit programme until the end of 2015, it said on Wednesday, adding that the business sector and commercial banks have asked for the extension.Governor Gyorgy Matolcsy, an ally of Prime Minister Viktor Orban, launched the stimulus programme last year to help government efforts to boost the economy and has said the programme would be expanded by up to 2 trillion forints.The programme would have expired ...

Nintendo logs $132mn first-half net profit TOKYO: Japanese videogame giant Nintendo said Wednesday its first-half net profit soared to $132 million as a sharply weaker yen boosted its bottom line and offset slowing sales.The Kyoto-based company earned 14.3 billion yen between April and September, way up from 600 million yen in the same period a year ago, despite sales falling 12.8 percent to 171.4 billion yen on lacklustre demand for its 3DS games system.Nintendo kept its full-year 20 billion yen profit ...

French firm Total's 3Q profits down PARIS: French energy firm Total, reeling under the death of its chief in a plane crash, said Wednesday that its net profits had fallen in the third quarter due to a slump in the production of hydrocarbons.The company's net profits fell 6 percent between July and September to $3.4 billion, compared to the same quarter last year. Turnover also declined by 2 percent to $60.36 billion, a statement said.Profit excluding changes in inventories fell by ...

Air France results hit by record pilots' strike PARIS: Air France on Wednesday said its third quarter results had taken a bashing due to a record pilots' strike, with turnover falling by 416 million euros ($530 million).The Air France-KLM group, Europe's second-biggest airline, was already in difficulty when the pilots went on strike between September 15 and 28 in protest at the group's plans to expand its low-cost subsidiary Transavia France.Half the carrier's fleet was grounded during the protest. In September, passenger traffic ...

Air France-KLM Q3 profit falls sharply after strike PARIS: Air France-KLM said on Wednesday its third-quarter operating profit more than halved to 247 million euros (315 million), while revenue fell 6.7 percent due to the combined effects of last month's pilot strike and a sluggish market environment. On a like-for-like basis, revenue rose 0.2 percent and operating income fell just 18 million euros, it said. Europe's second-largest network carrier by revenue fine-tuned its estimate for the cost of the two-week strike, saying it ...


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