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Australia approves huge India-backed mine SYDNEY: Australia has approved a massive coal mine that could ultimately provide electricity for up to 100 million Indians, angering environmentalists who warned Monday it may threaten the Great Barrier Reef.Environment Minister Greg Hunt said approval for Indian firm Adani's Aus$16.5 billion (US$15.5 billion) Carmichael coal mine and rail project in Queensland state was subject to 36 conditions."The absolute strictest of conditions have been imposed to ensure the protection of the environment, with a specific focus on the protection of groundwater," he said in a statement.The development proposes open-cut and underground coal mining some 160 kilometres (100 miles) northwest of Clermont in central Queensland, as well as a 189-kilometre rail link. It is forecast to produce 60 million tonnes of thermal coal a year for export.State officials say the project, which could potentially be the largest coal mine in Australia and one of the largest in the world, will play ...

Ryanair raises annual profit forecast after strong Q1 DUBLIN: Irish low-fare airline Ryanair, which hit a weak patch last year, reported a strong recovery but downward pressures on fares, in a quarterly results statement on Monday. The airline raised its first-quarter net profits by one and a half times, it said and raised its forecast for the whole year, forecasting rising passenger numbers and falling costs. Ryanair lifted its profits guidance for the whole of its year running from April to 620-650 million ...
Nissan says April-June net profit jumps 37% on-year to $1.1bn TOKYO: Nissan said Monday that net profit for the April-June quarter soared 37 percent to $1.1 billion, crediting robust overseas demand that offset weaker sales at home.The Japanese automaker said it earned 112.13 billion yen ($1.1 billion), up from 82.0 billion yen a year earlier, as sales rose to 2.47 trillion yen from 2.23 trillion yen."Favourable sales in North America, China and Europe offset easing domestic sales and sales declines in emerging markets, which remain ...
China says June industrial profits +17.9pc yr/yr SHANGHAI: Profits earned by Chinese industrial firms rose 17.9 percent in June to 588.08 billion yuan ($94.98 billion) from a year earlier, up sharply from an 8.9 percent rise in May, the National Bureau of Statistics said.For the first six months of 2014, profits rose 11.4 percent from the same period last year to 2.86 trillion yuan, the bureau said in data released on Sunday. Recent data reinforced market expectations that the world's second-largest economy ...
Connor Healthcare makes takeover offer for Acurity Health WELLINGTON: Connor Healthcare Ltd said on Monday that it would make a takeover offer for New Zealand private hospital operator Acurity Health Group Ltd.Connor, which is being joined by Austron Ltd and Evolution Healthcare Pty Ltd and already owns 70.7 percent, said it would offer NZ$6.50 a share for the rest of Acurity, a 24 percent premium to its NZ$5.25 closing price on Friday.The offer values Acurity at NZ$112.2 million ($95.95 million).Copyright Reuters, 2014 ...
Hutchison withdraws Austrian telecoms auction appeal VIENNA: Hutchison Whampoa's Austrian telecoms unit, Drei, has withdrawn its appeal against the result of a 2 billion euro ($2.69 billion) frequency auction, it said on Sunday.Drei said it withdrew the appeal at the end of June as it saw signs that some of the auction proceeds would be invested in broadband infrastructure in Austria."We are still convinced that the auction process was illegal in form and content," Drei's Chief Executive Jan Trionow said in ...
Danone to sell medical nutrition unit to Hospira : FT PARIS: French dairy group Danone is in talks to sell its medical nutrition business to US group Hospira in a deal valuing the unit at about $5 billion, the Financial Times reported on Sunday, citing people familiar with the situation.The business paper said on its website that no deal was certain and that the talks were ongoing. Contacted by Reuters, a spokesman for Danone in Paris declined to comment. No one at Hospira immediately returned ...

 



 
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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