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SAP sees edge in cloud security, raises sales forecast FRANKFURT: German business software maker SAP raised its sales forecast for web-based software on Thursday, saying competitors were unable to match the security of its cloud computing systems.Cloud computing allows businesses to cut costs by ditching bulky servers for network-based systems using remote data centres run by technology companies.The company said it expected revenue from cloud subscriptions and support of between 1 billion and 1.05 billion euros in constant currency terms this year, up from a previous forecast for 950 million to 1 billion euros.Revenue from its cloud business jumped by 32 percent to 242 million euros in the second quarter, helping overall revenue grow 2 percent to 4.2 billion euros.Chief Executive Bill McDermott said he expected to snatch business from pure cloud service providers such as and Workday Inc.SAP shares were up 3.2 percent at 0800 GMT, at the top of a European technology share index, which was ...

Daimler says it will not raise stake in Russia's Kamaz BERLIN/MOSCOW: German carmaker Daimler does not plan to increase its stake in Russian truckmaker Kamaz, it said on Thursday, renouncing a long-considered deal amid rising tension between Moscow and the West over Ukraine.Daimler controls 15 percent of Kamaz shares, including 11 percent it owns directly and 4 percent that the European Bank for Reconstruction and Development holds on its behalf. It has a partnership agreement that would allow it to increase its holding this year ...
Google and Novartis to develop special contact lenses for diabetic patients KARACHI: Google Inc collaborates with Novartis pharmaceutical to make special contact lenses for diabetic patients. These contact lenses will track blood sugar level through tears fluid and correct a vision in a unique way.Foreign media reported, “On Monday, the two companies said Novartis's Alcon eye-care division would license and commercialize smart lens technology designed by Google[x], a development team at the search engine giant. Financial details of the partnership weren’t provided”.These lenses might be helpful ...
Novartis confirms guidance as braces for full Diovan competition ZURICH: Swiss drug maker Novartis posted a 2 percent rise in quarterly sales on Thursday and confirmed its full-year guidance, expecting revenue from new products to offset generic competition to its blood pressure pill Diovan. Despite losing patent protection on Diovan in the United States in September 2012, the Basel-based firm has been spared competition from cheaper rivals as India’s Ranbaxy Laboratories Ltd struggled with quality control issues at manufacturing sites. The Swiss drug ...
SAP reports profits slump in Q2 FRANKFURT: German software giant SAP said on Thursday its bottom line was hit by one-off effects in the second quarter, but it is sticking to its full-year forecast.SAP said in a statement that its net profit fell by 23 percent to 556 million euros ($752 million) in the period from April to June. Underlying or operating profit was down 29 percent at 698 million euros, despite a 2.0-percent increase in second-quarter revenues to 4.151 billion ...
Ziggo profit up on TV-internet take-up BRUSSELS: Dutch cable operator Ziggo, which has accepted a takeover bid by US group Liberty Global, said on Wednesday its core profit rose 2.2 percent in the second quarter as it drew more customers to its combined internet-TV offers. The group, which in January agreed to be bought in a deal that values it at 10 billion euros ($13.5 billion), had suffered a decline of earnings in the first quarter as it spent more ...
Clothing chain Love Culture files bankruptcy, may be sold NEW YORK: Love Culture Inc on Wednesday filed for Chapter 11 bankruptcy, becoming the latest women’s apparel retailer to seek protection from creditors, and said it may be sold after having received interest from possible buyers. The company, which according to its website has 82 stores stretching from Massachusetts to Hawaii, joins Ashley Stewart Holdings Inc, Coldwater Creek Inc, Dots LLC and Loehmann’s Inc among retailers to file for bankruptcy since late last year as ...


Index Closing Chg%
Arrow DJIA 17,888.35 0.95
Arrow Nasdaq 5,156.31 0.93
Arrow S&P 2,102.63 1.07
Arrow FTSE 6,395.65 0.62
Arrow DAX 11,261.24 1.06
Arrow CAC-40 4,914.53 0.87
Arrow Nikkei 20,012.40 1.34
Arrow H.Seng 22,381.35 1.75
Arrow Sensex 26,169.41 0.09

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 30, 2015
Reserves $19.828 bln