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Sk Hynix logs all-time high Q3 earnings SEOUL: SK Hynix, the world's second-largest memory chip maker, reported Thursday a record high quarterly net profit for the three months to September on strong sales and currency earnings.Net profit came to 1.09 trillion won ($1.04 billion) in the third quarter, up 14 percent from a year earlier, the company said in a regulatory filing.It also posted an all-time high quarterly operating profit of 1.3 trillion won, up 12 percent on-year. Hynix attributed the profit growth to technology upgrades and higher margins for data-retaining NAND Flash memory chips.Revenue grew six percent on-year to 4.31 trillion won, also the highest quarterly amount since the company was founded in 1983.The chipmaker said firm demand in both DRAM chips and NAND Flash chips boosted overall sales.The company said it had ploughed a total of 3.9 trillion won into its production facilities over the first nine months this year.Copyright AFP (Agence France-Presse), 2014 ...

Drugmaker GSK announces big cost cuts after profit slump LONDON: GlaxoSmithKline will slash its costs by £1.0 billion after posting slumping quarterly profits because of poor US sales, the British pharmaceutical giant said on Wednesday.Costs will be cut by the equivalent of $1.6 billion or 1.3 billion euros after GSK posted profit after tax of £401 million in the third quarter.That was down 59 percent compared with the outcome for the July-September period in 2013.GSK added in its earnings statement that the group continued ...
Total names new bosses as Russia probes CEO plane crash PARIS: French oil giant Total on Wednesday named new bosses to lead one of the world's biggest energy companies after its chief executive was killed in Moscow when his private jet hit a snowplough on takeoff.Executives decided at an emergency meeting to bring back Thierry Desmarest -- who was both chairman and chief executive at Total from 1995 to 2007 -- as chairman of the group after Christophe de Margerie's death.Desmarest, who had once prepared ...
Airbus chief hits out at German defence policy FRANKFURT: The head of European aerospace giant Airbus, Thomas Enders, lashed out at what he saw as Germany's risk aversion in matters of defence policy in a magazine interview Wednesday. "There's a tendency in this country to duck away and hide behind partners," Enders told Cicero in a pre-release of interview to be published in its latest edition on Thursday. In the wide-ranging interview, Enders hit out at the small size of German defence spending, ...
Boeing profits up on higher commercial deliveries NEW YORK: US aerospace giant Boeing Wednesday reported higher quarterly earnings and raised its full-year profit forecast for the second quarter in a row on increased commercial aircraft deliveries.Earnings for the third quarter came in at $1.36 billion, up 17.6 percent from the year-ago period.Key drivers included a jump to 186 commercial aircraft deliveries, up from 170 in the 2013 period. Boeing booked 501 net orders during the quarter, with Irish carrier Ryanair signing a ...
J&J aims for 1 million Ebola vaccine doses in 2015 LONDON: Johnson & Johnson is accelerating work on its experimental Ebola vaccine and said on Wednesday that it aims to have 1 million doses ready in 2015, of which 250,000 are expected to be available by May. There is currently no proven vaccine against the deadly disease but several companies are racing to develop products and clinical tests on two - from GlaxoSmithKline and NewLink Genetics - are already under way. The World Health Organization ...
Lufthansa outsources IT infrastructure ops to IBM FRANKFURT: German airline Lufthansa said on Wednesday it will outsource its IT infrastructure services to US computer giant IBM to cut costs by 70 million euros ($89 million) annually. "Deutsche Lufthansa today announced that in the course of realigning its IT activities, it will be entering into a long-term IT partnership shortly."According to the terms to be agreed, Lufthansa will outsource all of its IT infrastructure services to IBM," the airline said in a statement.IBM ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln