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China Southern Airlines issues profit warning HONG KONG: China Southern Airlines, the country's largest carrier by fleet size, warned of a loss of more than $50 million in the first three months of the year as it was hit by exchange losses cause by a weaker yuan.In a filing to the Hong Kong Stock Exchange the firm said it would lose 300-350 million yuan ($48.2-$56.3 million) in January-March. That compares with a net profit of 57 million yuan in the same period last year, the filing said."The financial expenses of the company substantially increased as compared with the corresponding period of 2013 due to the exchange losses... resulting from the substantial depreciation of renminbi," the company said, referring to the unit's other name.The yuan -- which China's central bank allows to rise and fall only within a controlled band -- slid in March its lowest level against the dollar in nearly 13 months. Analysts have said ...

BHP boosts iron ore output and lifts production guidance SYDNEY: Global mining giant BHP Billiton lifted full-year iron ore guidance on Wednesday and posted better than expected March quarter output of 49.6 million tonnes.A five million tonne increase in guidance to 217 million tonnes was the second improvement this year.BHP said seasonal bad weather in western Australia had "relatively limited impact" on performance which beat market expectations.Full-year coking coal guidance was also ramped up 2.5 million tonnes to 43.5 million tonnes on record nine-month ...
Nigerian power firm secures $255m capital: statement LAGOS: Nigeria's oil firm Seven Energy said on Tuesday it had secured $255 million in equity funding from global investors, including Singapore's Temasek, to boost gas supply to the country's ailing power sector.Industry operators often attribute shortage of gas for the generating plants as a major cause of Nigeria's under-performing power sector. The company said in a statement that Temasek's share of the funding was $150 million.The IFC, an arm of the World Bank and ...
Norway's Statoil proposes buyback of up to 7.1pc of shares OSLO: Norway's Statoil has proposed buying back and cancelling up to 7.1 percent of its shares by mid-2015 to reward shareholders and adjust the group's capital structure, it said on Monday.It would buy back up to 75 million shares or 2.4 percent of all shares from the group available on the market while the rest would be bought back from the state, ensuring that the government's 67 percent stake does not change. "It is a ...
Sharp drops to 5-month low on report of new share issue TOKYO: Shares in Sharp Corp fell to a five-month low on Monday after the Asahi newspaper said Japan's largest display maker is considering another issue of new shares that could raise around 200 billion yen ($1.97 billion) to bolster its stretched finances. The Osaka-based company said in a statement on Sunday that it was considering a variety of possibilities to boost its capital but had made no concrete decisions, adding that the report was not ...
Sharp eyes another share offering, could raise $2bn TOKYO: Sharp Corp, Japan's largest display maker, is considering another issue of new shares that could raise around 200 billion yen ($1.97 billion) to replenish its depleted capital base, the Asahi newspaper reported on Sunday. Sharp is aiming to launch the offering during the current financial year to March 2015 after carrying out restructuring at its flagship Kameyama LCD display factory and putting its earnings on a solid recovery path, the newspaper said. No one ...
Poland WARSAW: Poland's telecom firm Netia will stick to its plan to pay about 146 million zlotys ($48.50 million) in an annual dividend to shareholders, its outgoing chief executive Miroslaw Godlewski told daily Parkiet in an interview.The amount translates into about 0.42 zlotys per share.Godlewski, who announced earlier this year that he would leave his post later in 2014, also said Netia should be able to maintain that level of dividend payouts in the medium term."This ...

 



 
Index Closing Chg%
Arrow DJIA 16,408.54 0.10
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Arrow S&P 1,864.85 0.14
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln