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Japan's top steelmaker cuts full-year profit forecast TOKYO: Nippon Steel & Sumitomo Metal said Thursday its nine-month net profit dropped 20.3 percent as it slashed its full-year profit forecast, citing the impact of plunging oil prices on a Brazilian unit.The Tokyo-based company, one of the world's biggest steelmakers, said its earnings for the April to December period came in at 153.6 billion yen ($1.3 billion), while sales rose 3.6 percent to 4.18 trillion yen.Nippon Steel blamed part of the profit slump on a 68.6 billion yen extraordinary loss that it took due to an unexpected slowdown at its seamless pipe maker Vallourec & Sumitomo Tubos do Brasil (VSB), which supplies the oil and gas market."The recent rapid decline in oil prices is expected to impair the business environment surrounding the oil and gas related markets and future profits of VSB," the company said in a statement.Nippon Steel also cut its net profit forecast for the fiscal year ...

Samsung posts first annual profit decline in three years SEOUL: Samsung Electronics posted its first drop in annual net profit in three years Thursday and saw resurgent arch-rival Apple barge in on its pole position as the world's top smartphone maker.The South Korean firm, whose key mobile phone operations have struggled in the face of intense competition from cut-price Chinese rivals, also warned that it expected 2015's "business environment... to be as challenging as 2014."The tech giant said Thursday it recorded a net profit ...
Japan carrier Skymark's shares plunge after bankruptcy filing TOKYO: Shares in Japan's Skymark Airlines lost a quarter of their value on Thursday after the struggling carrier filed for bankruptcy protection, citing potentially crippling penalties over a cancelled $2.2 billion jet order with Airbus.The embattled airline's shares dropped 25 percent to 237 yen ($2) -- their daily loss limit -- as investors reacted to news late Wednesday that Japan's third-largest carrier would file for bankruptcy, in an acknowledgment that efforts to turn itself around ...
Toshiba says leaving North America TV business as profit soars TOKYO: Toshiba said Thursday it was getting out the North American television business and selling its brand in the market to Taiwanese manufacturer Compal Electronics, as the conglomerate reported soaring nine-month earnings.The Japanese company, which is involved in a range of businesses from power generation, transmission systems and medical equipment to computer chips and laptops, pointed to slowing TV sales for the decision to stop development and sales of televisions in North America.Compal would sell ...
Shell announces profit fall on sliding oil prices LONDON: Energy group Royal Dutch Shell on Thursday announced an eight-percent drop in annual net profits owing to a slump in global oil prices and said it would accelerate spending cuts.Profit after tax dropped to $15.05 billion (13.3 billion euros) in 2014 compared with the Anglo-Dutch company's performance one year earlier, dragged down by plunging earnings in the fourth quarter as the cost of crude tumbled."Compared with the fourth quarter 2013, earnings... were impacted by ...
NEC says swings back to profit after smartphone overhaul TOKYO: Japanese information technology firm NEC said Thursday it swung back to profit in the nine months to December, after exiting the smartphone market as part of a broader restructuring.The company said it earned 22.8 billion yen ($193 million) in the April-December period, reversing a 15.09 billion yen loss a year earlier.Operating profit jumped to 35.6 billion yen from a profit of 23.7 billion yen a year ago, after the firm cut away its money-losing ...
Russia's Gazprom profits plunge 61pc, hit by Ukraine row MOSCOW: Russia's gas giant Gazprom on Thursday said its third quarter profits plunged 61 percent as supplies were suspended to Ukraine, one of its main customers.The group's profits between July and September reached 105.7 billion rubles ($1.5 billion) but revenues in that quarter were down 6 percent year-on-year to 1.13 trillion rubles ($16.5 billion).Analysts were expecting the group's profits to drop significantly due to its dispute with Ukraine.Kiev has refused to accept a price rise ...


Index Closing Chg%
Arrow DJIA 17,164.95 1.45
Arrow Nasdaq 4,635.24 1.03
Arrow S&P 1,994.99 1.30
Arrow FTSE 6,749.40 0.90
Arrow DAX 10,694.32 0.41
Arrow CAC-40 4,604.25 0.59
Arrow Nikkei 17,674.39 0.39
Arrow H.Seng 24,507.05 0.36
Arrow Sensex 29,182.95 1.68

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln