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Shell posts 14pc drop in 2012 profit, cautions on outlook LONDON: British energy giant Royal Dutch Shell said Thursday that net profit slid 14 percent last year, despite an upturn in the fourth quarter, and issued a cautious outlook for 2013.   Earnings after taxation dropped to $26.59 billion (19.62 billion euros) in 2012, compared with $30.92 billion in the previous year, Shell revealed in its annual results statement.   However, net profits rose 3.0 percent to $6.7 billion in the three months to December, from $6.5 billion last time around. Production also grew by 3.0 percent to 3.41 million barrels of oil equivalent per day over the same period.   On a more upbeat note, Shell said that adjusted net profits, stripping out gains or losses from fluctuations in the value of its inventories, jumped 13 percent to $7.29 billion in the fourth quarter.   Total revenues meanwhile increased by 2.0 percent to $118.05 billion in the same period.   "Shell is on track for plans we set out ...

Toshiba TOKYO: Japan's Toshiba said Thursday net profit in the nine months to December soared six fold to 54.52 billion yen ($600 million) thanks to brisk sales in its semiconductor and power plant businesses.   For the April-December period, the firm also posted an operating profit of 98.3 billion yen, up 12.1 percent year on year, on sales of 4.04 trillion yen, down 7.1 percent as troubles in its television unit weighed.   "Even though we saw declines in profit ...
Fiat chairman says TURIN: Italian auto giant Fiat's bosses said on Wednesday they had made "difficult choices" to continue producing in Italy despite a fall in sales but would not be shutting any plants as feared earlier.   "Despite market troubles, we have made difficult choices to continue producing in Italy," Fiat chairman John Elkann said at the opening of a new plant for the company's luxury brand Maserati.   Chief executive Sergio Marchionne, who also heads Fiat's US partner Chrysler, said: ...
Italian, European car markets have not hit bottom: Fiat CEO  GRUGLIASCO: Italian carmaker Fiat Chief Executive Sergio Marchionne said on Wednesday that the Italian and European car markets have perhaps not yet hit bottom and will slump for the sixth year in a row in 2013.   "The Italian and European car markets are in a free fall and perhaps have not yet hit bottom," said Marchionne, who is also the chief executive of Chrysler, at the opening of a new factory outside Turin.     Italian car sales are ...
Nintendo boosts earnings forecast, cuts Wii U sales target TOKYO: Japanese electronics giant Nintendo said Wednesday it returned to profit in the nine months to December and boosted its fiscal year earnings forecast.   The firm swung to a net profit of 14.54 billion yen ($160 million), from a net loss of 48.35 billion a year earlier, and upped its profit target for the year to March to 14.00 billion yen, from a previous target of 6.0 billion yen.   But it cut the fiscal year sales forecast ...
Roche reports profit up 2pc to $10.5bn, raises dividend ZURICH: Swiss drug giant Roche said on Wednesday its net profit rose by 2.0 percent last year to 9.8 billion Swiss francs ($10.6 bn, 7.9 bn euros) and said it was increasing its dividend.   The company said its overall sales rose by 4.0 percent measured at constant exchange rates to 45.5 billion francs based on strong sales of cancer drugs and diagnostic tests to laboratories.   The results were slightly better than the consensus of analysts forecast by ...
Metalloinvest cuts steel billet output MIAMI: Russian steel and raw materials producer Metalloinvest is reducing its steel billet production as Iran's sanctions hit sales of this product and is increasing its pig iron output instead, a company executive said on Tuesday.   Sanctions imposed by the European Union last autumn on sales of steel and other key materials to Iran have prompted most traders and producers to halt sales and have hit hard Russian steel producers, which were heavily reliant on the ...


Index Closing Chg%
Arrow DJIA 17,113.54 0.36
Arrow Nasdaq 4,456.02 0.71
Arrow S&P 1,983.53 0.50
Arrow FTSE 6,795.34 0.99
Arrow DAX 9,734.33 1.27
Arrow CAC-40 4,369.52 1.50
Arrow Nikkei 15,343.28 0.84
Arrow H.Seng 23,782.11 1.69
Arrow Sensex 26,025.80 1.21

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln