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VW profit takes hit from emerging market slowdown BERLIN: Volkswagen posted a lower operating profit in the second quarter and stuck to its guidance as emerging market volatility weighed on the German carmaker's results.Operating profit at Europe's largest automotive group dropped 3.1 percent to 3.33 billion euros ($4.5 billion), VW said on Thursday, matching the consensus forecast in a Reuters poll of analysts.Group sales eased 2.2 percent to 51 billion euros amid "significant negative exchange rate effects," VW said, adding: "The weak currencies of key emerging economies pushed prices up and thus put pressure on demand."Wolfsburg-based VW reiterated previous guidance published in February, saying its operating margin could be between 5.5 and 6.5 percent, compared with 5.9 percent last year.The 12-brand group has said deliveries will probably reach a seven-year-old target of 10 million vehicles four years early in 2014. Revenue may move within a range of 3 percent around last year's record 197 billion euros, VW said, ...

Passenger rise fuels Korean Air Q2 profit SEOUL: South Korea's biggest airline, Korean Air, posted a second quarter net profit of 347 billion won ($338 million), helped by a rise in passenger and cargo traffic.The airline had suffered a net loss of 359 billion won in the same period last year.It still made a second-quarter operating loss, but the deficit was narrowed to 19.7 billion won from 50.8 billion won a year earlier. Sales rose 2.1 percent year-on-year to 2.89 trillion won.Along ...
Japan's top steelmaker says net profit shrinks TOKYO: Nippon Steel & Sumitomo Metal, the world's number two steelmaker, said Thursday its quarterly net profit dropped by nearly 25 percent owing to falling global prices for the commodity.The Japanese company's April-June net profit came in at 48.34 billion yen (470 million yen), although its profit in the same period the previous year was partly boosted by one-time gains.But strong demand at home and abroad saw sales rise 5.8 percent to 1.36 trillion yen, ...
Japan's ANA drops plan to buy stake in Myanmar airline TOKYO: Japan's All Nippon Airways (ANA) has dropped its plan to buy a 49 percent stake in a Myanmar airline, blaming "intensified" competition in the country as it quickly emerges from years of economic isolation.ANA Holdings -- the airline's parent company -- announced last year that it planned to invest about $25 million in Asian Wings Airways (AWA).But "competition between new and old airlines in Myanmar has intensified... calling into question the assumptions made at ...
Toshiba Q1 net profit surges 68.7pc TOKYO: Toshiba said Thursday its first-quarter net profit climbed 68.7 percent due to brisk sales in infrastructure business and PCs in Japan.In the three-month period to June, Toshiba posted a net profit of 8.9 billion yen ($87 million), a 68.7 percent jump from a year earlier.Operating profit surged 57.1 percent to 39.5 billion yen on sales of 1.41 trillion yen, up 2.7 percent.Toshiba is involved in a range of businesses from power generation, transmission systems ...
Samsung posts 19.6pc fall in Q2 net profit SEOUL: Samsung said Thursday net profit plunged almost 20 percent in the second quarter as competition from cheap Chinese phones and the strong won saw sales slump in its key mobile business.The South Korean electronics giant said net profit came in at 6.25 trillion won ($6.1 billion), down 19.6 percent in the first on-year decline for nearly three years.Operating profit stood at 7.19 trillion won, down 24.6 percent from a year ago, while sales tumbled ...
Hindustan Unilever Q1 net profit rises 4pc, beats estimates MUMBAI: Hindustan Unilever Ltd on Monday said first-quarter net profit rose 4 percent on year, beating analyst estimates.The Indian subsidiary of Anglo-Dutch parent Unilevermade a net profit of 10.57 billion rupees ($175.9 million) for the three months ended June 30, from 10.19 billion rupees in the same period a year earlier.Sales by India's largest manufacturer of household products and consumer goods rose 13 percent to 75.7 billion rupees.Analysts had estimated net profit of 9.66 billion ...


Index Closing Chg%
Arrow DJIA 16,563.30 1.88
Arrow Nasdaq 4,369.77 2.09
Arrow S&P 1,930.67 2.00
Arrow FTSE 6,730.11 0.64
Arrow DAX 9,407.48 1.94
Arrow CAC-40 4,246.14 1.53
Arrow Nikkei 15,620.77 0.16
Arrow H.Seng 24,756.85 0.10
Arrow Sensex 25,894.97 0.74

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