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Microsoft CFO to leave; profit, shares rise SEATTLE: Microsoft Corp Chief Financial Officer Peter Klein is leaving at the end of June after 3-1/2 years in the post, as the world's biggest software company struggles with sharply declining personal computer sales and a lukewarm reception for the new Windows 8 operating system.The 11-year Microsoft veteran becomes the latest in a line of top-level executives to leave the company, following Windows head Steven Sinofsky last November. Some have questioned whether Chief Executive Steve Ballmer is still the right leader for Microsoft, whose shares have remained essentially flat for the last decade.Microsoft said a new CFO would be named in the next few weeks from within its ranks."The CFO departure is a little bit troubling," said Brendan Barnicle, an analyst at Pacific Crest Securities. "We've had a lot of executives leaving Microsoft recently. This also makes a departure by Steve Ballmer less likely. It would be very unusual to ...

Nokia posts first quarter loss, sales disappoint HELSINKI: Finnish mobile phone giant Nokia on Thursday posted a 272 million euro ($355 million) net loss in the first quarter of the year, narrowing a 928 million euro loss in the same period last year.But sales of 5.852 billion euros were down 20 percent from a year earlier, and nine percent lower than expected by analysts polled by Dow Jones Newswires."While operating in a highly competitive environment, Nokia is executing our strategy with urgency ...
PepsiCo 1st-qtr profit beats; stands by 2013 outlook NEW YORK: PepsiCo Inc reported better-than-expected quarterly earnings on Thursday, as price increases helped margins and the company stood by its full-year forecast.The maker of Pepsi sodas, Tropicana juices, Frito-Lay snacks and Quaker oatmeal said net income was $1.08 billion, or 69 cents per share in the first quarter, down from $1.13 billion, or 71 cents per share, a year earlier.Excluding a hit from the Venezuelan currency devaluation, restructuring charges and other items, earnings were ...
Nestle sales growth slips as emerging markets slow ZURICH: The Swiss group Nestle, the world's leading food industry group, released on Thursday first-quarter sales figures that missed analysts' forecasts as growth slowed in emerging markets.In the first three months of the year, Nestle's sales rose by 5.4 percent to 21.9 billion Swiss francs (18 billion euros, $23.6 billion), a statement said.Nestle said the figures showed that the group was in line to perform as expected in 2013, but analysts polled by financial news ...
Fresh financial crisis case against S&P in Australia SYDNEY: Lawyers who won a landmark case in Australia against Standard & Poor's over financial products that collapsed ahead of the financial crisis launched a new action Thursday against the ratings agency.IMF Australia, a publicly-listed company that funds large legal claims, said it had filed a fresh case against S&P on behalf of 90 churches, councils and charities who lost hundreds of millions on synthetic derivatives.The products, known as collateralised debt obligations or CDOs, were ...
Australia's Telstra wins $1.1 bln defence contract CANBERRA: Telecommunications company Telstra has secured a A$1.1 billion ($1.1 billion), six-year contract to overhaul communications for Australia's Defence Department, improving links between terrestrial, satellite and tactical networks.Telstra said the contract to link the defence department's civilian and military telecommunications needs into a single high-speed network will create 350 new jobs, with work to be carried out at 430 Defence sites across Australia.Telstra beat rival telecommunication company Optus, a unit of Singapore Telecommunications, as well ...
World Bank blacklists Canada's SNC-Lavalin OTTAWA: The World Bank banned Canadian engineering firm SNC-Lavalin from its projects Wednesday over corruption in a Bangladesh bridge project and another project.SNC-Lavalin was debarred from working on bank projects for 10 years after former company officials were linked to alleged high-level bribery in the tainted project, which led to the World Bank canceling a $1.2 billion loan to Bangladesh for the Padma Bridge project last June.The World Bank said the 10-year debarment was part ...

 



 
Index Closing Chg%
Arrow DJIA 17,042.90 0.17
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Arrow S&P 1,972.29 0.28
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Arrow Nikkei 16,173.52 0.84
Arrow H.Seng 22,932.98 1.28
Arrow Sensex 26,630.51 0.13





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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
WeeklySeptember 25, 2014
Reserves $13.305 bln