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Air France results hit by record pilots' strike PARIS: Air France on Wednesday said its third quarter results had taken a bashing due to a record pilots' strike, with turnover falling by 416 million euros ($530 million).The Air France-KLM group, Europe's second-biggest airline, was already in difficulty when the pilots went on strike between September 15 and 28 in protest at the group's plans to expand its low-cost subsidiary Transavia France.Half the carrier's fleet was grounded during the protest. In September, passenger traffic fell by 15.9 percent and cargo by 17.7 percent.The strike is estimated to have cost 330 million euros on Air France's operating income, which stood at 247 million euros against 641 million a year earlier.Turnover fell to 6.69 billion euros, a 6.7 percent fall, it said. The strike also came at a most inopportune time, said Air France finance director Pierre-Francois Riolacci with eurozone economies failing to emerge from the doldrums as some experts had ...

Air France-KLM Q3 profit falls sharply after strike PARIS: Air France-KLM said on Wednesday its third-quarter operating profit more than halved to 247 million euros (315 million), while revenue fell 6.7 percent due to the combined effects of last month's pilot strike and a sluggish market environment. On a like-for-like basis, revenue rose 0.2 percent and operating income fell just 18 million euros, it said. Europe's second-largest network carrier by revenue fine-tuned its estimate for the cost of the two-week strike, saying it ...
Sanofi holds special board meeting on management PARIS: Sanofi will hold a special board meeting on Wednesday at 0700 GMT to examine the French drugmaker's management structure, a source close to Sanofi told Reuters amid uncertainty over the future of its chief executive.The board directors were hastily convened to the meeting on Tuesday evening, the source said. Representatives for Sanofi did not immediately reply to requests for comment outside of regular business hours.Sanofi Chief Executive Chris Viehbacher had been unable to say ...
Samsung donates 2 Echocardiography units & 1 Ultrasound Color Doppler to JPMC LAHORE: Samsung Electronics view themselves as a highly conscientious corporate citizen of Pakistan. A few months back, this global technology leader had generously donated two units of the latest Samsung Echocardiography machines and an Ultrasound Color Doppler machine to the Jinnah Postgraduate Medical Center in Karachi. These machines are now being used for the free-of-cost treatment of thousands of deserving patients. These cutting-edge machines have been installed at the Department of Radiology – Cyberknife Robotic ...
SK Telecom reports 5.7pc rise in Q3 net profit SEOUL: South Korea's top wireless operator SK Telecom said Wednesday its net profit rose 5.7 percent in the third quarter, helped by the strong performance of its affiliates and new subscriptions.Net profit for July to September stood at 531 billion won ($507 million) compared with 502 billion won a year ago, the company said.Third-quarter operating profit fell 2.7 percent to 536 billion won due to heavy marketing costs and increased competition.The company said sales rose ...
China to merge two top state-owned train makers SHANGHAI: China will soon merge its two biggest train makers to create a multi-billion-dollar firm as it seeks export markets for its high-speed railway technologies, the official Xinhua news agency reported, citing sources in the firms.The two state-owned companies, China CNR Corp. and CSR Corp., are likely to release "important news" this weekend, the sources told Xinhua late Tuesday following market speculation of a merger.CNR and CSR both supply trains for China's high-speed rail network, ...
Japan's Takata drops after US lawsuits over air-bag defect TOKYO: Takata shares dropped in Tokyo on Wednesday after reports that the embattled Japanese auto parts maker is facing a US class-action lawsuit over an air-bag defect that may have killed several drivers.The stock, which has tumbled more than 40 percent in the past month, fell 5.76 percent to 1,438.0 yen ($13) in morning trade.The company, one of the world's biggest air-bag makers, has been plunged into crisis as it faces serious questions over defects ...


Index Closing Chg%
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Arrow H.Seng 23,819.87 1.27
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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-19.98 bln
Exports $25.13 bln
Imports $45.11 bln
WeeklyOctober 27, 2014
Reserves $13.464 bln