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Yahoo profit surges on Alibaba divestment, mobile SAN FRANCISCO: Yahoo said Tuesday its quarterly profit surged with its sale of shares in Chinese Internet powerhouse Alibaba, and that it was seeing signs of life in its mobile Internet initiatives.Net profit jumped to $6.8 billion, which included $6.3 billion from its Alibaba shares. But profit was stronger than expected, and pumped up Yahoo shares by 3.1 percent in after-hours trade.Revenue from operations inched up a percent to $1.15 billion, according to third quarter results welcomed by chief executive Marissa Mayer, who is under pressure to show the company can flourish apart from its lucrative investment in Alibaba."We had a good, solid third quarter," Mayer said."We achieved this revenue growth through strong growth in our new areas of investment -- mobile, social, native and video -- despite industry headwinds in some of our large, legacy businesses."More than $200 million in revenue came from mobile devices, with gross revenue from ...

Coke income falls in Q3, hit by slow economies, forex NEW YORK: Soft drinks king Coca-Cola made headway in global volume sales in its third quarter but net earnings fell sharply, hit by slower economic growth and volatile currencies.Coke reported Tuesday a slight fall in total operating revenues around the world to $11.98 billion for the quarter to September 26. Net income however dropped 13.6 percent to $2.12 billion, and earnings per share dropped to 48 cents from 54 cents. Excluding exceptional items, earnings per ...
McDonald's profit slumps, sales fall NEW YORK: McDonald's on Tuesday said profit slumped in the third quarter as global sales fell amid a food-safety scandal in China and intense competition in the United States.Net income plunged 30 percent in the July-September quarter from a year ago to $1.07 billion, the US fast-food restaurant giant said.Earnings per share of $1.09 were well below the Wall Street estimate of $1.37.McDonald's president and chief executive Don Thompson was blunt about the results: "By ...
As China gets tougher on fuel economy, some carmakers may be left behind SHANGHAI/BEIJING: Chinese automakers from state-owned FAW Co to Zhejiang Geely are racing to sell more eco-friendly cars as they try to meet tough fuel economy rules due next year as part of Beijing's battle against pollution.But many of China's smaller indigenous automakers will struggle to make the costly upgrades needed to meet the new rules, which aim to push more efficient energy use and which are expected to be toughened every year through 2020.A technology ...
Singapore Sept industrial output seen little changed on year SINGAPORE: Singapore's industrial production was probably marginally higher in September than a year earlier, a Reuters poll showed on Tuesday, after disappointing export data stirred concern about sluggish global demand.The median estimate in the Reuters survey of 13 economists was for manufacturing output to have risen 0.1 percent in September, after a 4.2 percent increase in August from a year earlier.On a seasonally adjusted month-on-month basis, manufacturing output was seen likely to slip 0.8 percent ...
Samsung's Cheil Industries IPO likely to be worth up to $1.4 billion SEOUL: Cheil Industries Inc, the de facto holding company for Samsung Group, plans for its IPO to be worth between 1.3 trillion won and 1.5 trillion won ($1.2 billion to $1.4 billion), a source with direct knowledge of the matter said on Tuesday.Preliminary plans call for shareholders to sell around 18.74 million shares while 10 million new shares will be issued, and for an indicative price range of 45,000 won to 53,000 won per share, ...
Women's pay remark trails Microsoft chief to the cloud SAN FRANCISCO: Even as Microsoft ramped up Internet "cloud" offerings for businesses, its chief continued to be dogged by a comment that women should not ask for pay raises.Satya Nadella hosted a press gathering Monday in San Francisco, where the US software titan detailed its strategy and latest moves for helping businesses tap into the power of colossal online data centers as needed.Nadella found himself fielding questions about a gaffe that has been hounding him ...


Index Closing Chg%
Arrow DJIA 16,677.90 1.32
Arrow Nasdaq 4,452.79 1.60
Arrow S&P 1,950.82 1.23
Arrow FTSE 6,419.15 0.30
Arrow DAX 9,047.31 1.20
Arrow CAC-40 4,157.68 1.28
Arrow Nikkei 15,138.96 0.37
Arrow H.Seng 23,333.18 0.30
Arrow Sensex 26,851.05 0.24

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln