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SoftBank's first Sony smartphone deal takes aim at US market TOKYO: Japan's SoftBank Corp and its US mobile carrier Sprint Corp will offer a Sony smartphone for the first time, sources with knowledge of the matter said, as the two technology titans confront daunting challenges in the US market. The deal could give a much-needed boost to Sony's struggling mobile division, which last month said it no longer expected to make a profit in the year to next March. It will also bolster Sprint's handset line-up as it seeks to stem a flight in subscribers. SoftBank, Japan's second most valuable company, is pushing price cuts and promotions at Sprint while unveiling joint smartphone offerings to shore up the No. 3 US carrier, after US regulators thwarted its hopes for a merger to give it the scale to take on bigger rivals. Sony, long one of Japan's best-known brands but now struggling to pull its flagship electronics division out of the ...

Lufthansa resumes flights to Arbil FRANKFURT: German airline Lufthansa said Friday it is resuming flights to the Iraqi Kurdish city of Arbil, which have been suspended since August 8 as militants seized control of swathes of the country. "Based on the most recent assessments of the security situation in Iraq, the Lufthansa group is resuming flight operations to Arbil in northern Iraq," the carrier said in a statement.Arbil lay outside of the conflict zone controlled by the jihadist Islamic State ...
Audi recalls 70,000 cars over braking system problem FRANKFURT: Audi, the top-of-the-range car maker belonging to auto giant Volkswagen, said on Friday it is recalling 70,000 cars worldwide owing to potential problems with braking systems. An Audi spokesman told AFP that the recall affected the company's A4, the A5, the A5 Cabrio, the A6, the A7 and also the Q5 crossovers models built between March and December 2012.The models were fitted with the 3.0 liter TDI turbo diesel engine. The problem had been ...
Twitter to set up shop in social-media-mad Indonesia JAKARTA: Twitter plans to open an office in Indonesia over the coming months as it seeks to boost revenues in the social-media-addicted nation, the company announced Friday.Several market monitors have declared Jakarta as the world's most active city of tweeters. Twitter does not publicise official user numbers by country or city."This is of great importance to Twitter because Indonesia loves Twitter and Twitter loves Indonesia," the company's president of global revenue and partnerships, Adam Bain, ...
Samsung denies child labour at Chinese supplier SEOUL: South Korea's Samsung Electronics has refuted fresh allegations by a labour protection watchdog that one of its suppliers in China hired child workers.New York-based China Labor Watch (CLW) claimed in a report Thursday that Samsung supplier HEG Technology had hired people under the age of 16 at its facility in Huizhou, China.The report said the factory, where components for Lenovo are also built, had hired new workers, and neglected to check their identification.The youngest ...
Auchan reports profit drop on French price war, ruble fall PARIS: Supermarket giant Auchan said that a price war in France pushed net profit down 11.5 percent in the first half, but that overall sales held up because of international performance.In the first six months of the year, net group profit fell to 272 million euros ($359 million).Global sales rose by 4.7 percent to 31.2 billion euros, boosted by a strong performance in eastern and central Europe and in Asia.The group said it had made ...
Virgin Australia annual net loss triples SYDNEY: Virgin Australia on Friday posted an annual net loss of Aus$355.6 million (US$332 million) as intense competition led by Qantas, weak consumer sentiment and high taxes hurt its bottom line.The country's second largest carrier also announced the sale of a 35 percent stake in its frequent flyer programme to private equity firm Affinity Equity Partners, boosting its cash balance by Aus$336 million.The result was more than triple the Aus$98.1 million loss it reported in ...


Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,825.31 0.08
Arrow DAX 9,479.03 0.09
Arrow CAC-40 4,379.73 0.03
Arrow Nikkei 15,476.60 0.34
Arrow H.Seng 24,752.09 0.04
Arrow Sensex 26,867.55 0.86

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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