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Opel to launch new compact car next year FRANKFURT: German carmaker Opel, the loss-making subsidiary of US giant General Motors, said on Thursday it plans to launch a new compact car next year in its ongoing drive back to profit. The new five-door model, Karl, will be launched next summer to complement the Corsa and Adam models, Opel said in a statement. Karl, named after one of founder Adam Opel's sons, will be a cheaper and more practical small car alternative to the three-door Adam."Karl is a short, snappy and catchy name that represents Opel brand values: German, emotional and approachable," said Opel marketing chief Tina Mueller.At 3.68 metres (12 feet) long, it will be fractionally shorter than the Adam and priced below both the Adam and Corsa.The company did not reveal the price, but a source close to the company put it at 10,000 euros ($12,930. Opel has been running at a loss for years and has ...

Fiat CEO sticks to 2014 guidance BALOCCO: Fiat Chrysler CEO Sergio Marchionne said on Thursday he saw no reason at present to review the carmaker's 2014 financial guidance despite weakness in Europe and Latin America."I have no (basis for)...suggesting I won't (meet guidance)," Marchionne told reporters during an event, adding that Fiat traditionally only reviews its guidance once the third quarter is over."Europe is what it is, Latin America is having a rough patch. We are holding our own in Latin ...
China auto sales growth slows in August: group SHANGHAI: China's auto sales reached 1.72 million vehicles in August, a rise of just 4.0 percent compared with the same month a year ago, an industry group said Thursday.In July sales had climbed 6.7 percent year-on-year to 1.62 million vehicles, previous figures showed.For the first eight months of the year, the country's auto sales rose 7.7 percent to 15.02 million vehicles, the China Association of Automobile Manufacturers said in a statement.China is critically important to ...
China fines Volkswagen affiliate $40.5mn for price-fixing BEIJING: An affiliate of German carmaker Volkswagen has been fined more than $40.5 million for price-fixing in China, authorities said Thursday, the latest company to be punished under a sweeping anti-monopoly crackdown.FAW-Volkswagen Sales Company, Ltd., a partnership between the Frankfurt-based firm and Chinese auto maker FAW, has been ordered to pay 248.58 million yuan in penalties for the offence, the Hubei Province Price Bureau said in a statement.Beijing has over the past year launched a ...
Spain's Telefonica fixes convertible bond coupon at 4.9pc MADRID: Spain's Telefonica has set the coupon for a 1.5-billion euro ($1.94 billion) convertible bond, to be used partly to fund the acquisition of Germany's E-Plus, at 4.9 percent, the company said on Thursday. The three-year paper, which can be converted into new or existing shares, matures on Sept. 25, 2017. The minimum conversion price was set at 11.9 euros per share and the maximum price at 14.5775 euros, the telecommunications company said in a ...
Romanian industrial output edges down in July BUCHAREST: Romania's adjusted industrial output edged down 0.1 percent on the month in July and was up 6.1 percent on the year, data from the National Statistics Board showed on Thursday.Below is a table of the latest industrial output figures adjusted seasonally and for the number of working days. Copyright Reuters, 2014 ...
Mazda aims to sell 200,000 Demio/Mazda2 cars worldwide annually TOKYO: Mazda Motor Corp Chief Executive Masamichi Kogai said on Thursday that the Japanese automaker plans to sell 200,000 redesigned Demio vehicles, also known as the Mazda2, globally each year. The redesigned subcompact, which will be manufactured at Mazda plants in Japan, Mexico and Thailand, is going on sale in September in Japan. Copyright Reuters, 2014 ...

 



 
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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 15, 2014
Reserves $13.414 bln