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EasyJet says annual profits soar LONDON: British budget airline easyJet said Tuesday that annual net profits surged by 13 percent, boosted by demand for low-cost air travel, and more than doubled its shareholder dividend.   Earnings after taxation advanced to to £255 million ($405 million, 317 million euros) for the group's 2011/2012 financial year to the end of September, compared with £225 million in the previous year, easyJet said in a results statement.   Pre-tax profits meanwhile jumped 27.9 percent to £317 million, in line with the company's guidance.   The London-listed carrier also hiked its shareholder dividend to 21.5 pence per share, from 10.5 pence.   "These results demonstrate that easyJet is a structural winner in the European short-haul market against both legacy and low cost competition," chief executive Carolyn McCall said in the earnings release.   "The strength of easyJet's business model and strategy coupled with the hard work and dedication of the easyJet team has delivered record profits as well as a ...

Fiat shares fall more than 2pc after UBS downgrade  MILAN: Shares in Italian carmaker Fiat opened down on Tuesday after UBS cut it to neutral from buy.   At 0821 GMT Fiat shares were down 2.9 percent at 3.3860, reversing part of the gains they posted on Monday. Copyright Reuters, 2012

Bonds steady in Asia after sliding on budget hopes  TOKYO: US Treasuries were steady in Asia on Tuesday after posting small losses the previous day on optimism that U.S lawmakers may reach a deal to avert the "fiscal cliff", which threatens to push the US economy into a recession.   Leading US lawmakers expressed confidence on Sunday that they could reach a deal to avert the "fiscal cliff" even as they laid down markers on taxes and spending that may make any agreement more difficult.   The 10-year ...

China money rates tighten slightly ahead of month-end demand  SHANGHAI: China's money rates moved a touch higher as the central bank allowed a slight daily net drain of funds from the market on Tuesday, with banks and companies preparing for a spike in demand for cash at the end of the month, traders said.   The benchmark weighted-average seven-day bond repurchase rate rose 15.47 basis points to 3.3507 percent from 3.1960 percent at the close on Monday.   The 14-day repo rate rose to 3.4497 percent from 3.4294 ...

BoJ holds off fresh easing, keeps rates unchanged  TOKYO: The Bank of Japan held off launching fresh easing measures on Tuesday after wrapping up a two-day policy meeting, despite growing calls for further stimulus to spur the world's third-largest economy.   The decision came days after the frontrunner to become Japan's next prime minister vowed aggressive monetary easing to fix the nation's economic woes. The bank also kept interest rates unchanged at between zero and 0.1 percent.   However, the BoJ said Japan's economy "has been weakening ...

Australia SYDNEY: Australia's central bank Tuesday said further interest rate cuts were possible, but stood by its decision earlier this month to leave them on hold, citing recent improved data on the global economy.   The Reserve Bank of Australia (RBA) last cut its official cash rate by 25 basis points in October to 3.25 percent, a low not seen since late 2009 when it first resumed hiking them after the global financial crisis.   "Members considered that further easing ...

Prices dip on hopes budget crisis can be avoided  NEW YORK: US bond prices fell on Monday as signs of progress in government talks to avoid a looming budget crisis boosted demand for riskier assets like stocks and reduced the attractiveness of safe-haven bonds.   In the past two weeks Treasuries yields have fallen to two-month lows as investors fled stocks on concerns that US lawmakers would fail to reach a deal to resolve the $600 billion "fiscal cliff" of spending cuts and tax increases that ...


Index Closing Chg%
Arrow DJIA 17,122.01 0.09
Arrow Nasdaq 4,569.62 0.02
Arrow S&P 2,000.12 0.01
Arrow FTSE 6,830.66 0.12
Arrow DAX 9,569.71 0.19
Arrow CAC-40 4,395.26 0.04
Arrow Nikkei 15,534.82 0.09
Arrow H.Seng 24,918.75 0.62
Arrow Sensex 26,560.15 0.44

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 25, 2014
Reserves $13.925 bln