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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 demonstrated sequential improvement in our global volume growth," said chief executive Muhtar Kent. "While I am pleased with our progress to date, we remain focused on the work required to return our business to the level of sustainable growth we and our shareowners expect."Worldwide volumes grew three percent, with an eight percent jump in Asia Pacific thanks to strong results in China, India and other markets.In North America, brand Coca-Cola volume grew one percent, but ...

Malaysia Airlines plane diverts from Ukraine to Syria KUALA LUMPUR: Malaysia Airlines has defended itself after confirming that it diverted a London to Kuala Lumpur flight over Syrian airspace when its usual route over Ukraine was closed in the wake of Thursday's MH17 crash.The flag carrier said in a statement late Monday that MH4's flight path was in accordance with routes approved by the United Nations' aviation agency International Civil Aviation Organisation's (ICAO)."As per the notice to airmen (NOTAM) issued by the Syrian ...
Ex-Qualcomm executive pleads guilty to insider trading WASHINGTON: A former high-ranking executive of US computer chip giant Qualcomm pleaded guilty Monday to insider trading charges, including trades on a 2011 deal for Atheros Communications, officials said.Jing Wang, 51, the former executive pice president and president of global business operations at Qualcomm, also pleaded guilty to laundering the proceeds of his insider trading using an offshore shell company, the Justice Department said."Not satisfied with his lucrative executive position at Qualcomm, Jing Wang traded ...
Russian steelmaker Severstal announces sale of US plants MOSCOW: Russia's steel giant Severstal announced on Monday the sale of its North American plants to US companies for a total of $2.3 billion (1.7 billion euros).Severstal is selling Severstal Columbus (Mississippi) to Steel Dynamics and Severstal Dearborn (Michigan) to AK Steel Corporation, the company said.AK Steel said separately that its acquisition was worth $700 million.The sale would be completed "by year-end 2014," Severstal's statement said."The work to prepare and sign the agreements to sell ...
British retailer Tesco says chief executive steps down LONDON: British supermarket giant Tesco said Monday that chief executive Philip Clarke will step down in October, after the group suffered its largest quarterly sales drop in four decades.Clarke, who has been at the helm for three years, will be replaced in October by Unilever executive Dave Lewis, Tesco said in a statement, adding that current trading conditions "are more challenging than we anticipated".Copyright AFP (Agence France-Presse), 2014 ...
Australia's Fairfax in mining mogul Rinehart's sights: report SYDNEY: Australia's richest person, mining magnate Gina Rinehart, is considering taking over respected media firm Fairfax out of frustration at its direction, a report said Monday.Rinehart is already a major shareholder in the newspaper, radio and digital company which publishes The Sydney Morning Herald, The Australian Financial Review and The Age in Melbourne.But rival The Australian newspaper, which is owned by Rupert Murdoch's News Corporation, reported Monday that Rinehart had approached business associates for suggestions ...
Philips reports 23pc profit slump THE HAGUE: Electrical appliance group Philips reported a 23 percent slump in net second quarter profit on Monday, to 243 million euros ($329 million).The Dutch giant said in a statement sales were also down 5.4 percent to 5.3 billion euros.The group had blamed weak performance by its new strategic activities in healthcare equipment for a slump in profits in the first quarter.A world leader in electrical appliances for the home, industry and local authorities, Philips ...

 



 
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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