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Mining giant BHP flags demerger plans SYDNEY: Global mining giant BHP Billiton on Friday said it could spin-off unwanted assets to focus on top tier commodities such as iron ore, copper, coal and petroleum.The world's biggest mining company did not say which businesses could be demerged, but reports this year said its aluminium, bauxite and nickel assets could be spun-off into a single entity worth about Aus$20 billion ($18.5 billion)."BHP Billiton has been simplifying its portfolio for over a decade and is pursuing options to make the company simpler and more productive," it said in a statement.It signalled in April it may sell some assets but did not say how this would be achieved."Since then, the board has continued to study various structural alternatives including at its meeting this week. A demerger of a selection of assets is our preferred option," it said."The board expects to consider this, and other matters, when it reconvenes next week."BHP ...

GE in talks with Electrolux, others to sell appliances unit NEW YORK: General Electric Co is in talks with Sweden's Electrolux AB and other parties to sell its household appliances unit, people familiar with the matter said on Thursday.The business sells home appliances under the GE Monogram, GE Cafe and Hotpoint brands and could be worth between $2 billion to $2.5 billion, the people said, asking not to be named because the matter is not public. The US diversified conglomerate is trying to sell its ...
GM to invest $2.8bn in Brazil in five years BRASILIA: General Motors Co will invest 6.5 billion reais ($2.8 billion) in Brazil over the next five years, Chief Executive Officer Mary Barra said on Thursday. Speaking to reporters in Brasilia after meeting President Dilma Rousseff, Barra said the new investment will spent on new products, technology and maintaining plants. She said there were some mid-term challenges ahead, but that GM was committed to one of its most important markets. Barra said she also thanked ...
Turkish Airlines says January-July passengers up 15.2pc ISTANBUL: Flag carrier Turkish Airlines said on Thursday its passenger numbers increased by 15.2 percent to 31 million people in the first seven months of the year. The airline, which is Europe's fourth-largest carrier by passengers, also said its load factor in the January-July period declined 0.3 points to 78.9 percent, according to a stock exchange filing. Copyright Reuters, 2014 ...
Thai Airways says chairman to resign; vice chairman to replace him BANGKOK: Thai Airways International pcl said on Thursday its chairman, Air Chief Marshall Prajin Juntong, would resign effective August 20. In a statement, the national carrier said Vice Chairman Areepong Bhoocha-oom would take over as chairman. It gave no further details. Prajin is the head of the military government's economic affairs. The carrier announced earlier on Thursday that it expects a return to profit in the fourth quarter and would cut 1,500 jobs this year ...
Telekom Austria EGM approves 1bn eurorights issue VIENNA: Telekom Austria's shareholders approved a 1 billion-euro ($1.34 billion) rights issue on Thursday backed by the company's two major owners, America Movil and Austria. The motion was supported by 98.1 percent of shareholders voting at an extraordinary general meeting, at which a new supervisory board dominated by America Movil representatives was also approved. America Movil has said it wants to use Telekom Austria as a base for further expansion into central and eastern Europe, ...
Amazon unveils card payment reader, challenging Square NEW YORK: US online giant Amazon unveiled a new payment card reader for mobile devices Wednesday in challenging a system pioneered by Square.The e-commerce giant unveiled its "Amazon Local Register," described as "a secure card reader and mobile app that provides local businesses with the tools they need to quickly and easily accept credit and debit cards from a smartphone or tablet and keep track of their growing business."The move expands Amazon's efforts to gain ...

 



 
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Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyJune
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 15, 2014
Reserves $14.264 bln