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South Africa's PPC full-year profit flat on weaker demand at home JOHANNESBURG: South African cement maker PPC Ltd reported flat full-year profit on Tuesday as growth in some of its sub-Saharan markets was offset by slack demand at home. PPC, which has been roiled by a battle between its former chief executive and the board, cut its dividend by 27 percent, helping send its shares down 3.2 percent to 26.10 rand by 0723 GMT. The company is on a push to ensure that 40 percent of its revenue comes from outside of South Africa in the next few years, to offset weak demand in Africa's most developed economy. South Africa has been hit by weak consumer spending, inflation and waves of labour unrest in the mining industry. PPC's headline earnings for the year to end-September totalled 176 cents, the same as last year. It said it would pay a full-year dividend of 114 cents a share, from 156 cents a year ...

Hyundai Heavy workers to stage overtime walkout SEOUL: Workers at South Korea's Hyundai Heavy Industries will stage a symbolic overtime walkout on Thursday, a union spokesman said as the world's largest shipbuilder moves closer to its first full-fledged strike in 18 years.Kim Hyeong-Gyun said wider industrial action could take place as early as next week after talks over a long-running wage dispute collapsed last Wednesday. "On Thursday, we will refuse to work after the regular eight-to-five business hours," he told AFP, adding ...
Toyota aims to replicate Prius success with fuel cell Mirai NEWPORT BEACH: Toyota Motor Corp on Monday said it will introduce its first mass-market fuel cell car in the United States next year, hoping to replicate the success of its Prius hybrid with a vehicle that runs on hydrogen instead of gasoline. The four-person sedan named Mirai, the Japanese word for "future", will be at California dealerships in the fourth quarter of 2015.Only 200 will be available in the United States next year, with volumes ...
Sony aims for 36pc increase in movie business sales in three years TOKYO: Japan's Sony Corp said it is aiming to garner up to $11 billion in revenue from its movie business in three years time, a 36 percent increase over levels forecast for the current financial year. Sony Chief Executive Kazuo Hirai also told an investors conference that he plans to set mid-term growth targets for the whole company this business year. Sony said in a statement it was aiming for revenue of $10 billion to ...
Airbus wins contract for US space capsule Orion BERLIN: Airbus Group will develop and build a service module for the future American human space capsule, Orion, marking the first time a European firm will provide system-critical elements for a U.S. space project, it said on Monday.Europe's largest aerospace group said the contract, signed with the European Space Agency, was worth around 390 million euros ($488 million).The contract comes days after European scientists celebrated landing a probe on the surface of a comet for ...
Petrobras says Q3 Brazil oil output rises to 2.09mn bpd SAO PAULO: Brazil's state-run oil firm Petroleo Brasileiro SA (Petrobras) produced an average of 2.09 million barrels of oil per day in Brazil in the third quarter, up 9 percent from the previous year, a securities filing showed on Monday.Natural gas production of 441,000 barrels per day was up 7 percent while output of petroleum derivatives rose 4 percent to 2.204 million barrels per day.Fifteen producing wells were connected in the third quarter, Petrobras said, ...
Merck KGaA says Pfizer deal FRANKFURT: A major cancer drug deal between Pfizer and Germany's Merck KGaA is exclusive with regard to the immunotherapy drugs involved, Merck said on Monday."This is an exclusive collaboration in the PD-1, PD-L1 space," said Belen Garijo, who will take over leadership of Merck's healthcare business from next year.She added that the two sides could jointly decide to collaborate with third parties.Garijo was speaking in a conference call after the German group announced the major ...

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln