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Sky Deutschland advises investors to shun BSkyB offer FRANKFURT: The management of pay-TV provider Sky Deutschland has advised minority investors not to accept an offer from BSkyB, a token gesture given that BSkyB's terms are little more than a formality required after its purchase of a controlling stake in the broadcaster. BSkyB in July agreed to buy the 57 percent stake in Sky Deutschland owned by Rupert Murdoch's 21st Century Fox, and offered remaining shareholders 6.75 euros for each of their shares, as mandated by German takeover law. But with only a small premium on the table, analysts have doubted that many will sell. Sky Deutschland would thus retain its stock market listing and BSkyB, in which Fox holds 39 percent, has not indicated any desire to squeeze out minority shareholders above and beyond the offer which it has set out.Management of the German company, advised by Bank of America Merrill Lynch, on Wednesday argued the offer fell ...

Mitsubishi halts Venezuela plant due to imports snag: union CARACAS: The assembly plant for Mitsubishi autos in Venezuela has halted operations due to a delay in the import of parts for assembly, a union official said on Friday.Like other private businesses in the South American nation, carmakers have been complaining that the socialist government's complicated currency controls and bureaucratic processes are slowing imports of essential products. The assembler of Mitsubishi in Venezuela, MMC Automotriz, which belongs to Japan's Sojitz Corporation, began a month-long stoppage ...
Air France strike into third day, as PM urges pilots back to work PARIS: Air France scrapped more than half its flights Wednesday as pilots extended a strike into a third day, defying Prime Minister Manuel Valls who urged them to stop their "incomprehensible" industrial action.Pilots have walked off the job in protest at the airline's plans to expand its low-cost leisure subsidiary Transavia France, whose pilots are cheaper to employ.Unions fear the company will seek to cut costs by running more low-cost Transavia flights at the expense ...
Lufthansa says ordering 25 new Airbus A320 planes BERLIN: Germany's Lufthansa group said on Wednesday that it was ordering 25 new Airbus A320 aircraft at a cost of about 2.5 billion euros ($3.2 billion) at list prices.The order comprises 15 Airbus A320neo aircraft for Lufthansa's subsidiary SWISS to be delivered from 2019, and 10 new A320ceo planes destined for its low-cost Eurowings subsidiary in 2016 and 2017, the European air transport giant said in a statement."This order for modern, fuel-efficient and quiet aircraft ...
Sony deepens loss estimate on struggling smartphone business TOKYO: Sony Corp on Wednesday sharply deepened its net loss estimate and said it would not pay a dividend this fiscal year for the first time since it listed in 1958 after it was hit by a massive impairment charge for its struggling smartphone division.The downward revision its the sixth under Chief Executive Kazuo Hirai, who took his post in 2012 promising to pull the firm's troubled electronics division into the black by focusing on ...
European car sales rise, helped by Spanish subsidies FRANKFURT: Car sales in Europe rose in August but analysts and executives pointed to a heavy reliance on government incentives in Spain and a fall in sales in big markets Germany, France and Italy as signs a European recovery may be faltering.Mass-market carmakers Volkswagen, Ford and Opel all made gains, while premium makers BMW, Mercedes-Benz and Audi lost ground.Europe's car industry has showed signs of emerging from a six-year slump, with registrations bottoming out last ...
EU car sales up again in July and August PARIS: New car registrations in the European Union showed further recovery in July and August, industry data showed on Wednesday.Sales of new cars rose 5.6 percent in July and 2.1 percent in August, the Association of European Automobile Manufacturers (ACEA) said, showing the market is shaking off a slump.French manufacturer Renault performed strongly in July with a 10.4-percent rise, but fell back 3.1 percent in August.European car manufacturers were hard hit during the financial crisis ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln