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VW says aims to increase 2014 group operating profit WOLFSBURG: German car maker Volkswagen said on Thursday it has a goal to increase group operating profit next year beyond the 11.5 billion euros ($14.89 billion) achieved last year.The car maker already said on Feb. 22 it aims to match last year's record underlying earnings in 2013. Copyright Reuters, 2013 ...

China Mobile 2012 growth slows to 2.7pc HONG KONG: China Mobile, the world's biggest mobile operator by subscribers, on Thursday said its 2012 net profit slowed to 2.7 percent, blaming intensified competition in the country.The figures come after reports the firm held talks with Apple chief executive Tim Cook in January in Beijing, raising hopes it will soon begin offering the iPhone.Net profit for the 2012 fiscal year rose to 129.38 billion yuan ($20.79 billion) compared to 125.98 billion yuan in 2011, ...
BlackBerry shares surge on huge order for new devices TORONTO: BlackBerry shares surged on Wednesday after the smartphone maker said one of its established partners has placed an order for 1 million BlackBerry 10 smartphones, with shipments starting immediately.The Waterloo, Ontario-based company said this order marks the largest ever single purchase order in BlackBerry's history, indicating strong demand for its Z10 smartphones powered by its new BlackBerry 10 operating system.The company's Nasdaq-listed shares jumped 8 percent to $15.62 in afternoon trading, while its Toronto-listed ...
Bosnia Aluminij may face closure as losses mount SARAJEVO: Bosnia's sole aluminium smelter Aluminij Mostar said it may have to close down if it continues to make losses in a weak market beset with slumping demand and rising energy costs. The country's top exporter, which sells most of its aluminium into the depressed European construction and auto industries, said its supervisory board will decide next month whether to cover a 2012 loss of 65.8 million Bosnian marka ($43.8 million) by dipping into the ...
India seeking $339mn from telcos in additional fees-minister NEW DELHI: India has asked the country's top five telecommunication carriers to pay a combined 18.42 billion rupees ($339 million) in additional fees after a government audit found they had under-reported revenues over two financial years, a minister said, although the companies have disputed the demand.Bharti Airtel Ltd, Vodafone Group Plc's Indian unit, Reliance Communications Ltd, Idea Cellular Ltd and Tata Teleservices Ltd had under-stated their revenues by a combined $2 billion over two financial ...
Orange, Vodafone to build joint fibre optic network in Spain MADRID/LONDON: France Telecom's Orange and Vodafone will invest up to 1 billion euros ($1.3 billion) in a joint fibre optic network in Spain that will bring superfast Internet to 6 million homes, the telecom industry rivals said on Wednesday.Both companies are struggling to compete with the fibre optic network of Spanish former monopoly Telefonica, which reaches 2.2 million homes.Orange said in June it would build a fibre optic network and since then has set up ...
Renault signs job-cuts deal with unions PARIS: French automaker Renault signed a deal with unions on Wednesday to cut 7,500 jobs and increase working hours in exchange for a pledge to avoid factory closures.After signing the deal with three unions -- Force Ouvriere, CFE-CGC and CFDT -- Renault CEO Carlos Ghosn called it a "historic" step in French labour relations."This is a balanced agreement.... It gives Renault the means to renew its competitiveness in France," Ghosn said.The agreement foresees a 6.5 ...


Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
Arrow DAX 9,598.17 0.48
Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52

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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