02112016Thu
Last update: Thu, 11 Feb 2016 07pm

Industries & Sectors

Business & Finance - Industries & Sectors

Norwegian Air swings to bigger than expected Q4 operating profit OSLO: Budget airline Norwegian Air Shuttle reported fourth-quarter earnings above expectations on Thursday and kept its outlook for growth in capacity this year, while costs were seen lower. Norwegian, Europe's third-biggest budget airline by passenger numbers after Ryanair and easyJet, has launched flights to the Middle East, southeast Asia and the United States, bringing low-cost offers into the long-haul segment, as well as expanding in its core European market. "We enter 2016 with favorable fuel costs and one of the youngest fleets in Europe, which presents a significant competitive advantage," Chief Executive Bjoern Kjos said in a statement. "The market in Norway is influenced by the slowdown in the economy and there is increased competition in the Danish market.The demand for travelling with Norwegian and advance bookings have been satisfactory entering the first quarter of 2016," the company added.Norwegian swung to an operating profit before leasing and depreciation (EBITDAR) of ...

Business & Finance - Industries & Sectors

Honda to start making gasoline-electric cars in China this year TOKYO: Honda Motor Co Ltd plans to start making gasoline-electric hybrid cars in China later this year, to meet increasingly stringent fuel economy regulations in a country blighted by worsening air pollution. The Japanese automaker will build hybrid versions of its Accord sedan and Acura compact crossover sport utility vehicle (SUV) in the southern city of Guangzhou, Tokyo-based spokesman Ben Nakamura said on Thursday. It will follow those with a hybrid version of its Spirior ...

Business & Finance - Industries & Sectors

Toyota to spend to 350mn euro to start producing hybrid engines in Turkey ISTANBUL: Toyota Motor Corp will begin production in Turkey by year-end of a new hybrid engine model with an investment of more than 350 million euros ($396 million), Toyota's chief executive of Europe, Johan van Zyl, said on Thursday. He told a news conference that the investment would create more than 1,000 jobs and that Toyota's Turkish production capacity would nearly double to 280,000 vehicles. Copyright Reuters, 2016 ...

Business & Finance - Industries & Sectors

Tata's profit dented by drop in Jaguar Land Rover's Chinese sales NEW DELHI: Tata Motors reported on Thursday strong sales by its British Jaguar Land Rover subsidiary in Europe and North America in the last three months of last year, offsetting a drop in China, once its fastest-growing market. Retail sales by JLR, which has been rapidly expanding its model line-up and volumes with new production planned in Europe and South America, were up nearly 50 percent in the UK, continental Europe and North America on ...

Business & Finance - Industries & Sectors

Adobe Flash’s march towards death It can be argued that Adobe Flash’s days are numbered, as Google have announced that beginning on June 30, display ads built on Flash would no longer be uploaded to AdWords or DoubleClick, the search engine’s two biggest products.Whereas, as of January 2nd, 2017, display ads in the Flash format will no longer run on the Google Display Network or through DoubleClick, Google announced through a post on Google +.The announcement indicates that the days ...

Business & Finance - Industries & Sectors

Nokia profit fell in 2015 ahead of Alcatel-Lucent acquisition HELSINKI: Finnish telecom equipment giant Nokia's net profit fell by 29 percent in 2015, to 2.45 billion euros ($2.8 billion) ahead of acquiring its French-American rival Alcatel-Lucent, the company said on Thursday.The drop was due to the 2014 results including 5.4 billion euros Nokia gained from selling its unprofitable handset unit to Microsoft.But the company said operating profit grew last year by 20 percent and its net revenue by six percent.Nokia has just gone through ...

Business & Finance - Industries & Sectors

Adidas optimistic for year after beating 2015 targets FRANKFURT: Adidas said Thursday that it performed better than expected in 2015 and is confident for this year, even if the US market still appears to be something of an Achilles' heel for the German maker of sportshoes and equipment."Based on preliminary unaudited figures for 2015, the Adidas group exceeded its top- and bottom-line financial targets in the past financial year," it said in a statement. In 2015, group sales grew by 16 percent to ...