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Volvo says cutting 2,000 jobs as sales drop STOCKHOLM: Swedish carmaker Volvo on Friday announced it was cutting some 2,000 jobs as it unveiled third-quarter results showing a five-percent drop in group net sales."As part of the previously announced Group-wide efficiency programme, a directional decision has been made to rationalise white collars in staff and support functions by approximately 2,000 employees and consultants," the firm said in a statement.Copyright AFP (Agence France-Presse), 2013


Samsung Q3 net profit spikes 25.6pc SEOUL: South Korea's Samsung Electronics said Friday its net profit spiked 25.6 percent to another record in the third quarter, driven by soaring revenue from memory chip sales.The world's largest technology firm by revenue said July-September net profit rose to 8.24 trillion won ($7.8 billion), from 6.56 billion won a year ago.The previous record was 7.77 trillion won set in the second quarter."Despite currency depreciation in emerging markets, increased price competition and global market uncertainties, ...

Kia's Q3 net profit up 8.9pc on strong China sales SEOUL: South Korea's Kia Motors Corp. said on Friday its third-quarter net profit rose 8.9 percent from a year ago on strong sales in China and Eastern Europe.Net profit for the July-September period came to 903.3 billion won ($849.5 million), up from 829.5 billion won in the same period last year, the country's second-largest car maker by volume said.However, operating profit, weighed by the strong won, labour strikes and work stoppages, fell 13.1 percent on-year ...

Yields near three-month lows on strong buying NEW YORK: US Treasuries yields held near three-month lows on Thursday as expectations that the Federal Reserve is still months away from reducing the size of its bond-purchase program kept up strong demand for the debt.Treasuries have rallied since data on Tuesday showed that employers added fewer jobs than expected in September, stoking fears the economy was slowing even before the government's 16-day shutdown.Investors will be watching for any new information about Fed policy when ...

Spain's Santander bank enjoys profit recovery MADRID: Spanish banking giant Santander, the largest in the eurozone by market value, announced Thursday a leap in third-quarter profits as it recovered from big write-offs a year earlier.Santander's net profit rose to 1.055 billion euros ($1.46 billion) in the third quarter, nearly nine times the 122-million-euro profit reported a year earlier.At this time last year, it had to set aside 1.14 billion euros in provisions against doubtful property-related assets in Spain.Santander's net banking income ...

Swiss stock exchange opens probe into UBS statements ZURICH: The operator of the Swiss stock exchange said Thursday it had opened an investigation into the country's largest bank, UBS, which is suspected of violating financial reporting rules.The exchange operator and regulation authority SIX Swiss Exchange said UBS issued two statements late last year that may have breached rules on how listed companies should release potentially price-sensitive facts that could significantly sway their share price.A bank statement on October 30, 2012 titled "UBS announces ...

Unilever says sales hit by emerging markets slowdown THE HAGUE: Anglo-Dutch food and cosmetics giant Unilever, seen as a bellwether for global consumer spending, said on Thursday that its third-quarter sales had been hit by weakened demand in emerging markets.Turnover fell 6.5 percent to 12.5 billion euros ($17.3 billion) compared to the outcome in the same period last year.This included a negative currency impact of 8.5 percent, the company said in a statement.Underlying sales were up 3.2 percent, compared to a 5.9 percent ...


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJanuary
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyApril 16, 2015
Reserves $16.818 bln