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British Airways owner confident on growth as rivals falter LONDON: The owner of British Airways and Iberia raised its forecast for profits this year and said it was on course for another rise in 2015 despite an increasingly competitive backdrop that has hit rival European airlines. International Airlines Group's performance contrasts with Air France-KLM and Lufthansa, which have cut forecasts because of strikes and competition from short-haul budget airlines and long-haul Gulf carriers. IAG Chief Executive Willie Walsh sought to end speculation about the outlook for next year, saying the company had already dealt with the many of the challenges European rivals are now facing and was better placed in faster-growing economies. IAG prioritised cutting staff costs before its rivals and has already gone through a painful restructuring at Iberia.It bought discount carrier Vueling in 2013 to compete with budget rivals and added fuel-efficient planes to trim costs. "We're very comfortable that we will achieve our targets for 2015," ...

Daimler to buy 25pc stake in Italy's MV Agusta FRANKFURT: Daimler AG will buy a 25 percent stake in Italian motorcycle manufacturer MV Agusta as part of a long-term cooperation deal which gives the German car and truck maker access to lightweight three-cylinder engines. Daimler said on Friday it will buy the stake via its AMG performance cars unit and will take a seat on the board of directors at MV Agusta. Daimler did not disclose the financial terms of the deal. Cooperation between ...
Telecom Italia chairman says no offer received for Brazil unit ROME: Telecom Italia Chairman Giuseppe Recchi said on Friday the company had not received any offer to sell its Brazilian wireless carrier TIM Participa??es SA. The statement was made in response to a question related to rumour that America Movil, Telefonica and Grupo Oi had agreed to launch a bid. Brazil is key for Telecom Italia as it struggles to compete in a saturated European market. TIM Brasil is the country's second-biggest mobile network operator. ...
Taiwan's HTC expects Q4 revenue to grow up to 12pc TAIPEI: Taiwan's smartphone maker HTC said Friday it expected revenue in the fourth quarter to grow up to 12 percent on-quarter because it is launching a number of new products including the Nexus 9 tablet for Google.HTC estimated that revenue in the fourth quarter will be in the range of Tw$43 billion-Tw$47 billion ($1.43 billion-$1.57 billion).In October, HTC kicked off the global launch for an array of new products and services, including the HTC Desire ...
Fukushima operator TEPCO posts solid mid-term profit TOKYO: The operator of Japan's crippled Fukushima nuclear power plant posted a solid mid-term pre-tax profit Friday, despite not restarting idle nuclear reactors or hiking electricity rates.The striken Tokyo Electric Power Co. (TEPCO) refrained from making full-year projections, saying it is difficult to do so while its workhorse nuclear plant remains offline following the March 2011 earthquake-tsunami disaster.TEPCO said it chalked up a group pre-tax profit of 242.8 billion yen ($2.23 billion) in the April-September ...
IAG airlines group logs improving Q3 profits LONDON: British Airways owner International Airlines Group on Friday logged rising third-quarter profits, lifted by growing revenues and falling fuel costs, and increased its annual earnings forecast.Net profits advanced 3.1 percent to 598 million euros in the three months to the end of September.That compared with 580 million euros a year earlier, IAG said in a results statement.Operating profit before exceptional items jumped by almost a third to 900 million euros, buoyed by a turnaround ...
Panasonic raises profit outlook as restructuring kicks in TOKYO: Panasonic Corp raised its full-year operating profit outlook by 13 percent and returned to a net cash positive position for the first time in five years after a drastic restructuring chopped unprofitable product lines in smartphones, plasma TVs and semiconductor chips.The Japanese electronics firm also logged a 15 percent rise in July-September operating profit to 94.7 billion yen ($851 million) on Friday, compared with the average estimate of 79 billion yen from five analysts ...


ArrowDJIA 17,195.42 1.30
ArrowNasdaq 4,566.14 0.37
ArrowS&P 1,994.65 0.62
ArrowFTSE 6,463.55 0.15
ArrowDAX 9,114.84 0.35
ArrowCAC-40 4,141.24 0.74
ArrowNikkei 15,658.00 1.67
ArrowH.Seng 23,702.04 1.49
ArrowSensex 27,346.33 0.92

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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