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India's Infosys Q3 profit up 21.4pc, raises sales outlook MUMBAI: Indian outsourcing giant Infosys reported Friday a better-than-expected 21.4 percent jump in quarterly net profit, led by improved demand from Europe and the United States.The company also hiked its full-year revenue outlook, driving up its shares by around two percent.Consolidated net profit for the Nasdaq-listed firm climbed to 28.75 billion rupees ($463 million) in the October-to-December quarter from 23.69 billion rupees in the same period a year earlier.Analysts had expected Infosys to report a net profit of 27 billion rupees.Revenues jumped 25 percent to 130.26 billion rupees in the third financial quarter from 104.24 billion rupees in the year-ago period.The company's results kicked off India's quarterly earnings season.It forecast revenues would increase by 11.5 to 12 percent in dollar terms for the fiscal year to March 2014 -- a notch above its earlier outlook of 9.0-10.0 percent growth."The year ahead looks exciting for the IT services industry. We believe ...

Smartphones replace keys in smart door locks LAS VEGAS: Gabriel Bestard-Ribas got tired of his house keys scratching his smartphone in his pocket, so he combined them.The result was a Goji lock, which senses when a resident's smartphone is near and not only unlocks a door but greets the resident by name. It's just one of the trend of "smart locks" on display at the Consumer Electronics Show that ends here Friday."My keys were always scratching my phone, so I thought why ...
Tech giants battle for control of the car LAS VEGAS: As the car becomes a connected Internet device, the titans of the tech sector are battling for control of the wheel.The war is shaping up a lot like the computer sector, with Google, Apple and Microsoft and others fighting to be in control of the vehicle's "operating system" to deliver apps, navigation and other services.Some of those battles were played out this week at the Consumer Electronics Show in Las Vegas, which included ...
India's 2013 car sales down for first time in 11 years MUMBAI: India's car sales fell almost 10 percent year-on-year in 2013 in the first decline for 11 years, an industry body said Thursday, amid sluggish economic growth and higher fuel costs and interest rates.Annual domestic car sales, seen as a pointer to overall economic health, fell to 1,807,011 units in 2013 from 1,998,703 in 2012, according to the Society of Indian Automobile Manufacturers (SIAM)."After 2002, this is the first time the auto industry has seen ...
China auto sales up nearly 14pc in 2013 SHANGHAI: Auto sales in China, the world's biggest car market, surged 13.9 percent to 21.98 million vehicles last year, an industry group said Thursday, with the growth rate outpacing 2012 despite economic weakness.Sales of passenger vehicles alone jumped 15.7 percent year-on-year to 17.93 million units, the China Association of Automobile Manufacturers (CAAM) said in a statement.China's huge auto market is critically important to foreign companies, which have looked to its vast potential to take up ...
Romania Jan-Nov trade deficit shrinks 40.6pc y/y BUCHAREST: Romania's trade deficit shrank 40.6 percent on the year to 5.2 billion euros($7.07 billion) in the first eleven months, the National Statistics Board said on Thursday. It said CIF (cost/insurance/freight) imports edged up 0.4 percent on the year to 50.9 billion euros, while exports grew 9 percent to 45.7 billion euros. The November trade shortfall was 389 million euros. The European Union state has a two-year precationary aid deal with the International Monetary Fund ...
Sri Lanka's Nov trade deficit narrows 44pc yr/yr COLOMBO: Sri Lanka's trade deficit narrowed 43.5 percent to $615.7 million in November from $1.09 billion a year earlier, central bank data showed on Thursday.November exports gained 24.7 percent from a year earlier to $1.03 billion, while imports fell 14.1 percent to $1.65 billion.For the first 11 months of 2013, the trade deficit narrowed 10.7 percent to $7.83 billion from $8.77 billion a year earlier.Copyright Reuters, 2014 ...


Index Closing Chg%
Arrow DJIA 18,214.42 0.06
Arrow Nasdaq 4,987.89 0.42
Arrow S&P 2,110.74 0.15
Arrow FTSE 6,949.73 0.21
Arrow DAX 11,327.19 1.04
Arrow CAC-40 4,910.62 0.58
Arrow Nikkei 18,785.79 1.08
Arrow H.Seng 24,902.06 0.50
Arrow Sensex 28,746.65 0.90

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln