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Japan's Sharp to exit Americas TV market after deep Q1 loss TOKYO: Sharp Corp on Friday said it would exit the TV set business in the Americas and consider more steps to shore up its finances, after reporting a deeper-than-expected quarterly loss on weak sales of smartphone displays. The Japanese electronics maker said it would sell its TV manufacturing plant in Mexico and license its brand in the Americas to China's Hisense Group. In a separate statement, Hisense said it would pay $23.7 million for the business. Osaka-based Sharp was once a highly profitable manufacturer of premium TVs and a favoured screen supplier to Apple Inc , but has struggled to innovate enough to fend off Asian rivals. In May, the company sought $1.9 billion in its second major bank-led financing in three years. In return, it promised to cut 5,000 jobs, or 10 percent of staff. "Sharp has not been able to fully adapt to the intensifying market competition, which ...

Honda three-month profit jumps nearly 20% to $1.5bn TOKYO: Honda said Friday that net profit in April-June jumped nearly 20 percent as strong sales in North America and a weak yen helped offset the impact of an exploding air-bag crisis.The Civic maker's bottom-line profit came to 186 billion yen ($1.5 billion) for the three months, up from 155.6 billion yen a year earlier, while sales jumped 15.5 percent to 3.7 trillion yen.Operating profit rose 16.4 percent, as a sharp drop in Japan's currency ...
Falling costs boost Q2 profits for IAG airlines group LONDON: International Airlines Group, which owns British Airways and Iberia, announced a rise in net profits in the second quarter on Friday thanks to falling costs and fuel bills.Earnings after taxation rose by 28 percent to 358 million euros ($392 million) in the three months to June.Operating profit rose by 40 percent to 530 million euros, driven by increases at British Airways and Iberia, although profits at Spanish low-cost airline Vueling fell."We continue to take ...
Mazda profit beats estimates as strong China, US sales cushion FX loss, costs TOKYO: Japan's Mazda Motor Corp said quarterly profit fell 5.4 percent, but still beat estimates as higher auto sales in China and the United States cushioned the blow of foreign exchange losses and costs booked for new plants in Mexico and Thailand.Shares in Japan's fifth-biggest automaker rose more than 5 percent after it said on Thursday April-June operating profit was 53.32 billion yen ($430 million). That was down from 56.38 billion yen a year ago, ...
Lufthansa sees challenging second half, prices still under pressure BERLIN: German airline Lufthansa said it saw no let-up in pressure on ticket prices due to competition from low-cost rivals and the second half year would be more challenging than the first, even as lower fuel costs boosted quarterly profit.Europe's largest aviation group by revenue is in the midst of a restructuring as it tries to remain competitive against fast-growing budget rivals in Europe as well as carriers such as Emirates and Turkish on long-haul ...
VW's Audi lowers 2015 car sales outlook BERLIN: Germany's Audi lowered its expectations for luxury auto sales this year as volume in China, its biggest market, shrinks.Volkswagen's flagship luxury division said on Thursday it was targeting a "moderate" rise in deliveries from last year's record 1.74 million cars, after previously guiding for a "significant" increase in sales. Ingolstadt-based Audi posted its first sales drop in China in more than two years in May.Copyright Reuters, 2015 ...
Rolls-Royce first-half profit slumps, guidance unchanged LONDON: British engineering firm Rolls-Royce, under pressure after slashing forecasts three times in nine months, reported a 32 percent drop in first-half profit, which was slightly better than expected.It said the performance put it on track to meet downgraded 2015 guidance.Rolls-Royce shocked investors earlier this month when it warned profits at its aero-engine business would falter next year, adding to declines seen in its marine division, where a lower oil price has caused a slowdown ...


Index Closing Chg%
Arrow DJIA 17,598.20 0.52
Arrow Nasdaq 5,115.38 0.25
Arrow S&P 2,098.04 0.25
Arrow FTSE 6,688.62 0.11
Arrow DAX 11,443.72 1.19
Arrow CAC-40 5,120.52 0.75
Arrow Nikkei 20,548.11 0.11
Arrow H.Seng 24,411.42 0.91
Arrow Sensex 28,187.06 0.26

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln