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ABB second-quarter net profit falls more than expected ZURICH: Swiss engineering group ABB posted a bigger-than-expected fall in second-quarter net profit, hit by depreciation and amortisation and a weak performance in its loss-making power systems unit. ABB, which makes products ranging from electricity substations to industrial robots, said net profit fell 17 percent to $636 million. Analysts in a Reuters poll had forecast net income of $706 million. The profit figure included $333 million of depreciation and amortisation, of which $100 million was related to acquisitions, ABB said. The Zurich-based company stuck to its cautious outlook, saying uncertainty in some emerging markets may offset more encouraging. Copyright Reuters, 2014 ...

Singapore industrial output seen inching higher in June SINGAPORE: Singapore's industrial production probably rose in June from a year earlier, regaining some footing after its worst year-on-year fall in 11 months in May, a Reuters poll showed.The median estimate in the Reuters poll of 15 economists was for industrial output to rise 1.3 percent year-on-year in June. Output probably rose 0.5 percent in June from a month earlier on a seasonally adjusted basis, the poll showed.Some economists say that pharmaceuticals production could bounce ...
IBM's Watson advises US soldiers on life after service SAN FRANCISCO: IBM's Watson supercomputer is putting its real-world smarts to work helping US soldiers transition back to civilian lives.Virtual intelligence created by IBM and proven in a victorious run on trivia television game show "Jeopardy" has been woven into a Watson Engagement Advisor application to counsel members of the military and their families how to smartly manage shifting to life after stints in the service.USAA, which provides insurance, investment, retirement and other financial services ...
Kia in talks to open $1.5bn Mexico plant MEXICO CITY: South Korean automaker Kia Motors Corp is in talks with Mexico to open a new, $1.5 billion auto plant, officials of the northern state of Nuevo Leon said on Tuesday. Rolando Zubiran, secretary of economic development in Nuevo Leon, said negotiations on the plant were under way and involved Nuevo Leon, the Mexican federal government and Kia, an affiliate of Hyundai Motor Co. "It's more than $1.5 billion," Zubiran said, referring to the ...
Microsoft sees end to Nokia losses, shares rise after hours SEATTLE: Microsoft Corp said it aims to get its loss-making Nokia phone unit to break even within two years, helping its stock rise in after-hours trade. The world's largest software company reported a 7 percent dip in quarterly profit on Tuesday, chiefly due to incorporating the struggling handset business of the Finnish mobile pioneer. Microsoft's chief financial officer said in a call with analysts that the company plans to take $1 billion in costs out ...
Apple profit climbs along with iPhone sales SAN FRANCISCO: Apple on Tuesday reported that its quarterly profit climbed with strong iPhone demand, but a decline in iPad tablet sales put a damper on its results.The California-based company posted a profit of $7.7 billion on revenue of $37.4 billion in the three months period to June 28, an increase of 11.6 percent from a year ago.Apple said it sold 35.2 million iPhones in the quarter, a rise of nearly 13 percent from the ...
Coca-Cola earnings dip; North America volume flat NEW YORK: Coca-Cola Tuesday reported that second-quarter earnings dipped, as it notched strong volume growth in Asia but flat volumes in North America, Europe and Latin America.Net earnings at the US beverage giant came in at $2.6 billion, down three percent from the year-ago period.The year-over-year drop reflected in part a Venezuelan law capping profit margins. "As we now reach the midpoint of the year, we have delivered sound financial performance year to date and ...

 



 
Index Closing Chg%
Arrow DJIA 17,113.54 0.36
Arrow Nasdaq 4,456.02 0.71
Arrow S&P 1,983.53 0.50
Arrow FTSE 6,795.34 0.99
Arrow DAX 9,734.33 1.27
Arrow CAC-40 4,369.52 1.50
Arrow Nikkei 15,343.28 0.84
Arrow H.Seng 23,782.11 1.69
Arrow Sensex 26,025.80 1.21





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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln