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Posco Q2 profit jumps 102.6pc SEOUL: South Korea's Posco, the world's fifth largest steelmaker, said Thursday its second-quarter net profit doubled from a year ago, with a strong won cutting the value of its dollar-dominated debts. The steel giant posted a net profit of 487.2 billion won ($473 million) in the April-June period, up 102.6 percent from 241 billion won a year ago.But operating profit shrank seven percent on-year to 839.1 billion won, as the strong Korean currency also blunted competitiveness overseas and cut the value of repatriated earnings. Sales rose 7.1 percent to 16.7 trillion won during the same period. The company said global steel demand would rise three percent this year thanks to fast recovery in advanced markets including the United States. "Rapid inventory adjustment efforts in China will stabilise supply-demand balance, which will help boost steel prices in the third quarter," Posco said.It revised its sales target for 2014 upwards to 64.5 ...

BASF says oil, gas business drives profits in Q2 FRANKFURT: BASF, the world's biggest chemicals maker, said on Thursday that profits rose in the second quarter, driven by its oil and gas business.BASF said in a statement that its bottom-line net profit climbed by 12 percent to 1.299 billion euros ($1.7 billion) in the period from April to June.Underlying or operating profit grew by 13.9 percent to 2.019 billion euros on a 0.6-percent increase in sales to 18.455 billion euros."BASF's business developed positively in ...
UK car production boosted by new models in first half of 2014 LONDON: British car production showed annual growth of more than 3 percent in the first six months of 2014 thanks to new models and further expansion is expected, an automotive industry body said on Thursday.Car production in June was up 3.7 percent on the year to just over 136,000.This took the total number of cars built so far in 2014 to more than 790,000, or 3.5 percent more than in the same period in 2013.Among ...
Tate & Lyle misses first-quarter profit target LONDON: British sweetener maker Tate & Lyle said on Thursday it had missed its expectations for first quarter adjusted operating profit due to the severe weather in the United States and the unexpected shut down of one of its factories.The firm, whose brands include zero calorie sweeteners Splenda and Tasteva, said however it expected its overall performance to be broadly in line with previous guidance before the impact of foreign exchange is taken into account.Copyright ...
easyJet sees annual profit rising at least 14pc LONDON: Low-cost airline easyJet said it was on track to grow annual profit by at least 14 percent assuming no further significant disruption over the next two months.The company forecast that pretax profits for the twelve months to the end of September would be in the range of 545 million pounds ($928 million) to 570 million pounds and the range included the impact from situations in Israel, Egypt and Moscow.Analysts currently expect easyJet, whose profits ...
Unilever sales growth hurt by slowing emerging markets LONDON: Unilever missed second-quarter sales estimates on Thursday, citing a slowdown in emerging markets and continuing malaise in developed markets.The Anglo-Dutch maker of Ben & Jerry's ice cream, Dove soap and Lipton tea said underlying sales - which exclude the impact of foreign exchange, acquisitions and disposals - rose 3.8 percent, compared to analysts' expectations of 4.3 percent."Overall there's a slowdown in Asia," Chief Financial Officer Jean-Marc Huet told Reuters, citing China and Vietnam in ...
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 ...


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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln