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Up to 200 jobs to be cut at Germany's top paper: report BERLIN: Up to 200 jobs could be slashed at top German tabloid Bild, as its publishing group seeks to make some 20 million euros ($26 million) in cost savings, according to a media report on Sunday.Citing "several informed sources", newsweekly Der Spiegel said publishers Axel Springer were looking to cut between 170 and 200 jobs at Bild, the most widely read daily newspaper in Europe."Axel Springer clearly believes that serious cuts are needed in its newspaper activities" and is looking at making savings "totalling 20 million euros," Spiegel said.Spiegel noted that Axel Springer had set aside 50 million euros for "structural changes" and said there would be redundancies at the group.Employees at the Bild daily, the paper's website and the Berlin local tabloid B.Z. would be transferred to a subsidiary, Bild Digital, where pay and conditions are less favourable, according to Spiegel.Bild said only there were "various scenarios" under consideration.According ...

Alibaba to invest $294m in mapping firm AutoNavi SHANGHAI: Alibaba Group, China's largest e-commerce firm, will take a 28 percent stake in digital mapping company AutoNavi Holdings Ltd, part of Alibaba's move to boost its competitveness by beefing up its product lineup.Unlisted Alibaba will invest $294 million to become the largest shareholder in the Chinese-based firm, according to a statement from AutoNavi on Friday which confirmed an earlier report from news portal Sina.The move comes after Alibaba, which competes with Tencent Holidings, acquired ...
Icahn revamps Dell offer, calls buyout 'giveaway' NEW YORK: A battle over US computer giant Dell heated up Friday as corporate raider Carl Icahn and other investors made a new offer and called a planned buyout led by company founder Michael Dell a "giveaway."The investor group, which holds around 13 percent of Dell shares, said in a regulatory filing it would urge shareholders to reject the private equity buyout and opt instead for its "superior" recapitalization plan, keeping the company public.Icahn has ...
India March industrial output posts 2.5pc jump NEW DELHI: India's industrial output accelerated by a surprise 2.5 percent in March, its fastest pace in five months, data showed Friday, fuelling hopes that a sharp economic slowdown could be bottoming out.The March production growth from factories, mines and utilities beat financial market forecasts of a two percent rise and was up from a slim 0.5 percent increase in February.While output expansion is still far below double-digit rates in previous years when Asia's third-largest ...
Warburg Pincus raises $11.2bn for new buyout fund NEW YORK: Private equity firm Warburg Pincus raised $11.2 billion for its latest fund, one of the largest private equity funds since the global financial crisis.The New York-based firm said on Friday that investors in the new fund, Warburg Pincus Private Equity XI LP, include public and private pension funds, sovereign wealth funds and wealthy individuals, with a significant number of the new investors coming from outside the United States.Warburg Pincus reached a final close ...
Mexico March annual industrial production plummets MEXICO CITY: Mexican industrial production contracted 4.9 percent in March, below expectations for a 1.4 percent contraction in a Reuters survey, and below February's upwardly revised 1 percent contraction.The contraction was the biggest since October, 2009. Month on month data was not immediately available.Copyright Reuters, 2013 ...
ArcelorMittal reports Q1 loss, stands by targets PARIS: Top global steelmaker ArcelorMittal reported a first-quarter loss on Friday but stood by its targets for operating profit and for reducing debt, and its shares rose by nearly 6.0 percent in initial trading.The group reported a first-quarter net loss of $345 million (265 million euros), owing mainly to problems in Europe, from a net profit of $92.0 million 12 months ago.Sales fell by 13.0-percent on a 12-month basis to $19.8 billion and earnings before ...

 



 
Index Closing Chg%
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyAugust
Trade Balance $-2.807 bln
Exports $1.911 bln
Imports $4.718 bln
WeeklyOctober 23, 2014
Reserves $13.465 bln