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Taiwan's Acer swings to profit after three years of losses TAIPEI: Taiwan's struggling personal computer maker Acer said Wednesday it turned a profit in 2014 following three successive years of net losses.The company recorded a net profit of Tw$1.79 billion ($56.46 million) last year but revenues fell by 8.5 percent to Tw$329.68 billion.In the fourth quarter it recorded a net profit of Tw$654 million, a dramatic turnaround from the fourth quarter of 2013 when it suffered a net loss of Tw$7.63 billion."The results show that Acer has stayed profitable throughout the entire year with increasing profits each consecutive quarter, and has steadily turned its operations around," the company said in a statement.A spokeswoman cited a continued improvement in the product mix that includes notebooks and desktop computers as well as tablets and smartphones."We've kept adjusting the product mix contingent upon the demands of various markets," she said.The company started swinging to profit in the first quarter of 2014 following a ...

Rosneft cancels rig contract with North Atlantic Drilling OSLO: Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill's North Atlantic Drilling Ltd, the Norwegian offshore driller said.Western sanctions against Russia, and Rosneft in particular, have led the Russian oil group to cancel a North Atlantic Drilling vessel earlier this month and raised concerns whether a larger agreement would go through..The contract, worth about $150 million, was for Northern Offshore's jack-up rig, Energy Endeavour, ...
Rolls-Royce signs deal to supply engines to seabed mining vessel LONDON: British engineering company Rolls-Royce said it signed a deal to supply six engines to a seabed mining vessel being built to extract copper, gold and silver off the coast of Papua New Guinea.The company said on Wednesday that the ship would be powered by its new B33:45 medium-speed diesel generator sets, and the deal represented its first multiple order for that engine.The new marine engine contract follows a difficult period for Rolls-Royce, which last ...
Amazon blasts U.S. agency for slowness on drone regulation   WASHINGTON: E-commerce power blasted federal regulators on Tuesday for being slow to approve commercial drone testing, saying the United States is falling behind other countries in the potentially lucrative area of unmanned aviation technology.Less than a week after the Federal Aviation Administration gave the green light to test a delivery drone outdoors, the company told U.S. lawmakers that the prototype had already become obsolete while the company waited more than six months for ...
3G in talks to buy Kraft foods in $40 billion deal NEW YORK: Private equity firm 3G Capital is in talks to buy Kraft Foods Group in a deal likely to be worth more than $40 billion, The Wall Street Journal reported Tuesday.The acquisitive Brazilian private-equity firm and Warren Buffett's Berkshire Hathaway made headlines and shook up the food industry in 2013 with a takeover of iconic ketchup maker H.J. Heinz Co for $23 billion.3G Capital has been eagerly looking for more acquisition targets after it ...
Vivendi urges shareholders to snub activist US investor PARIS: French media group Vivendi urged shareholders on Tuesday to reject demands by a US activist hedge fund for a larger payout from the proceeds of recent asset sales.Responding to draft resolutions proposed by P. Schoenfeld Asset Management (PSAM), Vivendi said its existing dividend plan already "ensures shareholder loyalty". PSAM, which says it owns 0.8 percent of Vivendi, is calling on other minority shareholders to join its campaign for a 9 billion euro ($9.8 billion) ...
Lufthansa says working on assumption Germanwings crash was 'accident' BARCELONA: Lufthansa is working on the assumption that the crash on Tuesday of an Airbus operated by its budget carrier Germanwings was an accident, the airline's vice president said."For the time being, we say it's an accident, anything else would be speculation," Lufthansa vice president Heike Birlenbach told reporters at Barcelona's El Prat airport from where the plane took off.Copyright AFP (Agence France-Presse), 2015 ...


Index Closing Chg%
Arrow DJIA 17,976.31 1.49
Arrow Nasdaq 4,947.44 1.15
Arrow S&P 2,081.24 1.22
Arrow FTSE 6,891.43 0.53
Arrow DAX 12,086.01 1.83
Arrow CAC-40 5,083.52 0.98
Arrow Nikkei 19,411.40 0.65
Arrow H.Seng 24,855.12 1.51
Arrow Sensex 27,975.68 1.88

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln