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GM chief creates new team to boost vehicle safety NEW YORK: General Motors chief executive Mary Barra announced Tuesday the creation of a new team to enhance safety in the wake of an ignition-recall scandal that has engulfed the company.Barra said the new product-integrity team aimed to ensure that future technical problems are addressed and resolved quickly. The automaker has come in for heavy criticism over its response to the ignition-switch problem, which has been tied to 13 deaths.The new product-integrity team will be part of the global product development organization headed by Mark Reuss and will include Jeff Boyer, who was tapped in March to serve as head of global vehicle safety in another response to the recall."This new way of developing vehicles will provide the highest levels of safety, quality and customer service and ensure that a situation like the ignition-switch recall doesn't happen again," Barra said.She said part of the goal of the new unit will ...

Intel steadies as PC declines ease NEW YORK: US computer chip giant Intel reported a modest dip in earnings in the first quarter on Tuesday, amid a stabilization of the key personal computer segment.Profits in the January-March period dipped five percent to $1.9 billion, results which slightly beat Wall Street estimates.Revenues meanwhile grew 1.5 percent from a year earlier to $12.8 billion, in line with analyst expectations.Intel said revenues from its PC division dipped just one percent to $7.9 billion, as ...
US indicts three Japanese auto parts execs for price-fixing WASHINGTON: The United States indicted one current and two former executive of Japanese parts firm Bridgestone Tuesday for conspiring to fix the prices of rubber parts used in US-made automobiles.A federal grand jury in Cleveland, Ohio, issued the indictment accusing Yoshiyuki Tanaka, Yasuo Ryuto and Isao Yoshida of plotting with other companies to set prices and stifle competition in sales of anti-vibration rubber parts sold to Japanese automakers in the United States between 2001 and ...
China Southern Airlines issues profit warning HONG KONG: China Southern Airlines, the country's largest carrier by fleet size, warned of a loss of more than $50 million in the first three months of the year as it was hit by exchange losses cause by a weaker yuan.In a filing to the Hong Kong Stock Exchange the firm said it would lose 300-350 million yuan ($48.2-$56.3 million) in January-March. That compares with a net profit of 57 million yuan in the same ...
BHP boosts iron ore output and lifts production guidance SYDNEY: Global mining giant BHP Billiton lifted full-year iron ore guidance on Wednesday and posted better than expected March quarter output of 49.6 million tonnes.A five million tonne increase in guidance to 217 million tonnes was the second improvement this year.BHP said seasonal bad weather in western Australia had "relatively limited impact" on performance which beat market expectations.Full-year coking coal guidance was also ramped up 2.5 million tonnes to 43.5 million tonnes on record nine-month ...
Nigerian power firm secures $255m capital: statement LAGOS: Nigeria's oil firm Seven Energy said on Tuesday it had secured $255 million in equity funding from global investors, including Singapore's Temasek, to boost gas supply to the country's ailing power sector.Industry operators often attribute shortage of gas for the generating plants as a major cause of Nigeria's under-performing power sector. The company said in a statement that Temasek's share of the funding was $150 million.The IFC, an arm of the World Bank and ...
Norway's Statoil proposes buyback of up to 7.1pc of shares OSLO: Norway's Statoil has proposed buying back and cancelling up to 7.1 percent of its shares by mid-2015 to reward shareholders and adjust the group's capital structure, it said on Monday.It would buy back up to 75 million shares or 2.4 percent of all shares from the group available on the market while the rest would be bought back from the state, ensuring that the government's 67 percent stake does not change. "It is a ...


Index Closing Chg%
Arrow DJIA 16,408.54 0.10
Arrow Nasdaq 4,095.52 0.23
Arrow S&P 1,864.85 0.14
Arrow FTSE 6,625.25 0.62
Arrow DAX 9,409.71 0.99
Arrow CAC-40 4,431.81 0.59
Arrow Nikkei 14,516.27 0.68
Arrow H.Seng 22,760.24 0.28
Arrow Sensex 22,628.84 1.58

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln