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Shell says chief executive to retire in 2014 LONDON: Energy giant Shell said Thursday that chief executive Peter Voser will retire next year, and posted a six-percent drop in first-quarter net profits to $8.18 billion (6.21 billion euros) amid lower oil prices."The board of Royal Dutch Shell plc today announced that Peter Voser, as chief executive officer, has elected to retire from the company in the first half of 2014," it said in a statement issued alongside its quarterly results.Copyright AFP (Agence France-Presse), 2013 ...

Lufthansa loss widens in Q1 FRANKFURT: German airline Lufthansa said Thursday that first-quarter earnings were hit by restructuring charges, writedowns and a strike by its workforce in March.Lufthansa said in a statement that its net loss widened to 459 million euros ($605) for the period from January to March, compared with a year-earlier loss of 394 million euros. At an underlying level, the operating loss was stable at 359 million euros and revenues edged up 0.1 percent to 6.628 billion ...
BMW profits down in Q1 FRANKFURT: German luxury car maker BMW said Thursday it is sticking to its full-year targets despite a decline in profits in the first three months."The BMW group continued to perform well in the first quarter of 2013," the car maker said in a statement.BMW -- which also owns Mini and Rolls-Royce -- said it delivered a total 448,200 vehicles to customers worldwide in the period from January to March, an increase of 5.3 percent over ...
Siemens trims forecast after Q2 profit fall BERLIN: German engineering giant Siemens on Thursday trimmed its full-year targets as it posted mixed second quarter numbers."Results for the second quarter show a mixed picture," chief executive Peter Loescher said in a statement."While we were able to clearly increase orders, we still have challenges regarding revenue and profit," he said. Siemens, which runs its business year from October to September, said that orders rose by 20 percent to 21.451 billion euros in the period ...
Profits at India's Bharti Airtel sink further NEW DELHI: India's top telecoms company Bharti Airtel said Thursday its net quarterly profit halved in its final financial quarter to March, hit by fierce competition and punishing interest charges.Consolidated net profit for the three months to March tumbled to 5.08 billion rupees ($94 million), down from 10.06 billion rupees in the same period a year earlier.The drop in profit marked the phone giant's 13th straight quarterly fall and was well wide of analysts' forecasts ...
CVS Caremark posts higher profit NEW YORK: CVS Caremark Corp posted higher quarterly profit on Wednesday, as a more severe cold and flu season boosted sales and more new generic drugs hit the market.CVS said net income rose to $956 million, or 77 cents per share, in the quarter ended March 31, from $776 million, or 59 cents, a year earlier.Revenue in the pharmacy benefits management (PBM) unit, which administers drug benefits for employers and health plans and runs a ...
Kerimov snaps up $160mn stake in miner ENRC LONDON: Russian metals billionaire Suleiman Kerimov has bought a stake of just under 3 percent in London-listed ENRC, the embattled Kazakh miner facing a potential buyout led by its founders.According to a regulatory filing, Kerimov bought a 2.86 percent stake or almost 37 million shares on April 29, when that holding would have been worth roughly 100 million pounds ($156 million).He raised that to 2.96 percent the following day, according to a filing on Wednesday, ...


Index Closing Chg%
Arrow DJIA 16,399.67 0.12
Arrow Nasdaq 4,316.07 1.35
Arrow S&P 1,904.01 0.91
Arrow FTSE 6,267.07 0.68
Arrow DAX 8,717.76 1.50
Arrow CAC-40 3,991.24 1.04
Arrow Nikkei 15,111.23 3.98
Arrow H.Seng 23,070.26 0.20
Arrow Sensex 26,429.85 1.23

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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 20, 2014
Reserves $13.436 bln