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Chipmaker Qualcomm may face EU antitrust probe BRUSSELS: Qualcomm, the world's No. 1 mobile chipmaker, may face a European investigation related to a four-year-old complaint from a subsidiary of rival Nvidia Corp, three people familiar with the matter said on Tuesday.An EU probe would come at an awkward time for Qualcomm, which is seeking to end an investigation by China's pricing regulator into monopoly practices. If found guilty of breaching EU rules, the company could face a fine of up to $2.5 billion. "The Commission may open a case after the summer," said one of the sources, who declined to be named because of the sensitivity of the matter. British cellphone chipmaker Icera, acquired by Nvidia Corp in 2011, took its grievances to the European Commission in June 2010, accusing Qualcomm of anti-competitive behaviour.Details of the complaint were never made public. But another person familiar with the issue said Icera had accused Qualcomm of using patent-related incentives ...

As Japan pushes power deregulation, Tepco moves in on rivals' turf TOKYO: Tokyo Electric Power Co said on Wednesday it would start supplying power to customers in areas controlled by other regional monopolies, as a shake-up in Japan's electricity industry since the Fukushima disaster gathers pace. The utility known as Tepco, which came close to collapse after the meltdowns at its Fukushima Daiichi nuclear plant in March 2011, is fighting back after rival utilities started moving in on its own turf. Japan's government is pushing through ...
Burger King, Tim Hortons merge to form fast-food giant NEW YORK: Burger King is buying Canada's Tim Hortons coffee-and-donuts chain in an $11.4 billion deal that has raised concerns of another US corporate icon moving abroad for tax reasons.Burger King Worldwide denied that the deal announced Tuesday, which would create the world's third-largest fast-food company, was being undertaken for tax reasons. But the planned move of the headquarters of the "Home of the Whopper" from Miami to Canada, which could cut its corporate tax ...
Tim Hortons: a donut shop turned Canadian icon MONTREAL: Coffee and donuts giant Tim Hortons grew from a single store opened in 1964 by a National Hockey League defenseman into an iconic Canadian brand only to now merge with American fast food chain Burger King.Horton himself died in a tragic car crash a decade after lending his name to the enterprise, but the chain has expanded year after year.It now operates 3,630 restaurants across Canada beating Starbucks for coffee market share and maintaining ...
South Africa dodges recession, faces more pain ahead PRETORIA: South Africa avoided slipping into recession in the second quarter as solid growth in agriculture and finance outweighed a plunge in production in the strike-hit mining sector, data showed on Tuesday. Africa's most developed economy has been battered by labour unrest that has disrupted the mining and auto sectors and hurt business confidence, while a weak rand currency has increased food and fuel prices, crimping household purchasing power. The economy grew 0.6 percent in ...
Unica cuts cane forecast nearly 6pc SAO PAULO: Brazil's 2014-15 centre-south cane crop will likely be 546 million tonnes, industry association Unica said on Tuesday, down nearly 6 percent from its initial forecast of 580 million tonnes in April due to an irregular climate."The situation in the center-south is quite heterogeneous," said Unica's technical director, Antonio de Padua Rodrigues. He said some states had had excessive rain that delayed harvesting, while other regions had been more affected by drought this year ...
France's Peugeot gets approval for China plant: report SHANGHAI: French auto maker PSA Peugeot Citroen's fourth plant in China has been approved for the southwestern city of Chengdu by local authorities, the official Xinhua news agency said Tuesday.The economic planning agency of Sichuan province, of which Chengdu is the capital, approved the 12.3 billion yuan ($2.0 billion) plant on Monday, it said.Peugeot and its Chinese partner Dongfeng Motor Corp. said last month they had chosen Chengdu for the plant, with construction scheduled to ...


Index Closing Chg%
Arrow DJIA 17,079.57 0.25
Arrow Nasdaq 4,557.70 0.26
Arrow S&P 1,996.74 0.17
Arrow FTSE 6,805.80 0.36
Arrow DAX 9,462.56 1.12
Arrow CAC-40 4,366.04 0.66
Arrow Nikkei 15,459.86 0.48
Arrow H.Seng 24,741.00 0.71
Arrow Sensex 26,638.11 0.29

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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 28, 2014
Reserves $13.582 bln