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Apple Pay fails to unify fragmented market WASHINGTON: Apple Pay, meant to inject momentum into a fragmented market for the emerging mobile payments sector, has instead highlighted the squabbles between retailers and the banking and payments industry.Since Apple Pay made its debut October 20 for US customers with the iPhone 6, several major retailers have said they would not use it. That includes number one retail group Wal-Mart and the large pharmacy-retail group CVS, which has disabled payment terminals that could accept Apple Pay."You're never going to come up with anything as smooth (and) as easy as Apple Pay. But if you can't use it, you're going to use something else," said Avivah Litan, an analyst at Gartner who follows mobile payments.Litan said a few retailers, such as McDonald's and Disney, like the system because it speeds transactions and "every fraction of a second goes to the bottom line."But she noted that for most retailers, credit card ...

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 ...
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 ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
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MonthlyJuly-June
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WeeklyOctober 27, 2014
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