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LG Electronics Q2 profit surges 165pc SEOUL: LG Electronics posted a 165 percent surge in second-quarter net profit Thursday from a year ago, on solid TV sales and a dramatic turnaround in its long-troubled mobile unit. Net profit for the South Korean electronics giant in the April-June period amounted to 412 billion won ($399.8 million), LG said in a statement. Operating profit also soared 26.5 percent for the previous year to 606 billion won, while sales rose 0.9 percent to 15.37 trillion won.Operating profit of the firm's TV unit -- which accounts for the lion's share of LG's overall sales -- rose 65 percent on-year to 154.5 billion won, LG said, adding its TV sales remained nearly unchanged at 5.09 trillion won.The firm noted the popularity of its ultra high-definition TVs in key markets. LG's handset unit also recorded a dramatic turnaround with an operating profit of 85.9 billion won after racking up losses for three ...

LG Electronics to invest 1.3 trillion won in R&D facility SEOUL: South Korea's LG Electronics Inc said on Thursday that it will invest 1.3 trillion won ($1.26 billion) to build a new research and development facility in the country's capital city of Seoul. LG Electronics, in a regulatory filing, said the investment seeks to develop new growth technologies without elaborating further. Copyright Reuters, 2014 ...
Hyundai Motor Q2 profit buffeted by strong won SEOUL: South Korea's largest automaker, Hyundai Motor Co. said Thursday its second-quarter net profit slumped 6.9 percent from a year earlier, mainly due to a stronger won.The April-June figure came to 2.35 trillion won (2.29 billion dollars), on sales of 22.75 trillion won, down 1.9 percent year-on-year.It sold 2.5 million cars in the first six months to June, up 4.4 percent from the previous year.Operating profit for the three-month period plunged 13.3 percent from the ...
SK Hynix posts near 30pc drop in Q2 net profit SEOUL: South Korea's SK Hynix said Thursday its second-quarter net profit tumbled nearly 30 percent from a year ago on falling memory chip prices.Net profit for the world's second-largest chipmaker amounted to 674 billion won ($658 million) for April to June, down 29 percent from a year ago. Operating profit inched down three percent to 1.08 trillion won during the same period, the Icheon-based company said in a statement. Sales remained nearly unchanged at 3.92 ...
Drugmaker GSK slashes annual profits forecast LONDON: British drugmaker GlaxoSmithKline on Wednesday slashed its 2014 profits forecast as second-quarter earnings sank on the back of weak US trade, adverse currency moves and a Chinese bribery probe.In a gloomy results statement, GSK said it now expected its earnings per share a key measure of performance to be "broadly flat" this year. That compared with the previous forecast for growth of 4.0-8.0 percent.Net profit, or profit after tax, dived 37 percent to £654 ...
GM recalls 718,000 more vehicles in US NEW YORK: General Motors on Wednesday announced six recalls covering nearly 718,000 vehicles in the US, adding to its recall tally after an ignition-switch auto safety scandal.The largest recall announced Wednesday, affecting 414,333 vehicles, will address a problem with the bolt that secures the height adjustor for driver and passenger seat structures in the 2010-2012 Chevrolet Camaro, the 2011-12 Buick Regal and some other models.If the bolt falls out, the seat will move up and ...
Daimler second-quarter profit boosted by new models FRANKFURT: Germany's Daimler reported a 12 percent gain in underlying second-quarter operating profit, propelled by Mercedes as its new C-Class and E-Class models helped the luxury auto maker lift margins.The Stuttgart-based maker of trucks and cars said group earnings before interest and tax (EBIT) from ongoing business rose to 2.46 billion euros ($3.3 billion) from 2.19 billion in the three months ended June, beating a 2.38 billion average forecast in a Reuters poll.Profitability at Mercedes-Benz ...

 



 
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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