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Roche sales up 5pc amid rush for Tamiflu, cancer drugs ZURICH: Swiss drug giant Roche said Thursday that heightened demand for its Tamiflu drug amid a severe flu season, as well as for its cancer medicines had sent its first-quarter sales up five percent, beating analyst expectations.During the first three months of the year, the company said its overall sales shot up to 11.6 billion Swiss francs ($12.4 billion, 9.5 billion euros).Analysts polled by Swiss financial news agency AWP had expected it to rake in 11.4 billion francs during the period."We got off to a very good start in 2013 due to strong organic growth," Roche chief executive Severin Schwan said in a statement.The growth was largely due to a spike in Tamiflu sales amid a difficult flu season in the United States especially, as well as rising demand for its main cancer treatments, which helped push sales in the company's all-important Pharma division up 6.0 percent, to 9.1 billion ...

Hyundai Heavy wins $1.9bn order from Chevron SEOUL: Hyundai Heavy Industries, the world's largest shipbuilder, said Thursday it has clinched a $1.9 billion order to build offshore facilities for US multinational energy group Chevron.The shipyard said the floating oil production and storage facilities capable of producing 100,000 barrels of oil a day would be set up by 2017 in the North Sea Rosebank oil field in Britain.The order came two weeks after Hyundai Heavy won a $2.0 billion deal to build two ...
Up to 2.92mn Japan-brand vehicles in airbag recall: govt TOKYO: Up to 2.92 million vehicles made by major Japanese manufacturers will be recalled worldwide because of possible problems with airbags, a government official said Thursday."Four carmakers submitted reports to us, saying they would recall 731,000 cars at home due to airbag problems," a transport ministry official told AFP."If exports are included, the number of cars with the same problems will reach a combined 2.92 million."The four makes are Toyota, Nissan, Honda and Mazda, the ...
Deutsche Telekom sweetens T-Mobile-MetroPCS pitch NEW YORK: Deutsche Telekom AG on Wednesday said it submitted final, sweetened terms it hoped will win shareholder backing for a merger of subsidiary T-Mobile USA with rival wireless carrier MetroPCS.Under the revised terms, Deutsche Telekom would trim $3.8 billion from the debt load carried into the union by T-Mobile, reducing to $11.2 billion the amount of "shareholder loans" to the company.Deutsche Telekom also said it would lower the interest rate charged on the loans.The ...
Australian high-speed rail would cost $120bn SYDNEY: A high-speed rail link connecting Melbourne to Brisbane via Canberra and Sydney would cost Aus$114 billion (US$120 billion) and take more than 40 years to complete, an Australian government study showed Thursday.Australia has debated the merits of high-speed rail connecting the main centres along its east coast since the 1980s but has never committed to such a major project.Transport Minister Anthony Albanese, who commissioned a feasibility study in 2010, said it would transform the ...
Korean Air finalises share purchase in Czech Airlines SEOUL: South Korean flag carrier Korean Air said Thursday it had finalised a deal to buy a 44 percent stake in troubled Czech Airlines (CSA) in a bid to expand lucrative long-haul routes to Europe. With the deal signed on Wednesday, Korean Air has become the second-largest shareholder in the state-run carrier following Czech Aeroholding, which holds a 51.7-percent stake, Korean Air said in a statement. Korean Air, the South's top airline operator with a ...
Jaguar Land Rover posts record sales for March MUMBAI: British luxury car brand Jaguar Land Rover, owned by India's Tata Motors, Wednesday said global sales in March climbed 16 percent from a year earlier to hit a record level, boosted by Chinese demand.Jaguar Land Rover (JLR) reported sales in March rose to 53,772 units internationally, with sales for the January to March quarter also at a record high of 115,504 units.JLR sales in China for March rose 22 percent to 8,487 vehicles while ...


Index Closing Chg%
Arrow DJIA 17,106.70 0.17
Arrow Nasdaq 4,570.64 0.29
Arrow S&P 2,000.02 0.11
Arrow FTSE 6,822.76 0.70
Arrow DAX 9,588.15 0.82
Arrow CAC-40 4,393.41 1.18
Arrow Nikkei 15,521.22 0.59
Arrow H.Seng 25,074.50 0.37
Arrow Sensex 26,442.81 0.02

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 25, 2014
Reserves $13.925 bln