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Rio Tinto 3Q iron ore output, shipments set new records SYDNEY: Rio Tinto said Wednesday its September quarter iron ore production soared to a record high, as criticism mounts that mining giants' rising output is adding to a global supply glut and depressing prices.The world's second-largest mining firm reported a 12 percent year on year jump in its third-quarter iron ore production to 76.8 million tonnes.Global iron ore shipments for the three months to September also hit new highs, surging 15 percent to 78.0 million tonnes.The boost came as sales from the Pilbara region in Western Australia continued to exceed production in the quarter, as the stocks that were built in anticipation of an infrastructure expansion were drawn down, Rio said."We have delivered another strong quarter with record iron ore production and a solid performance in copper and aluminium," chief executive Sam Walsh said in a statement."Our strategy of focusing on long-life, low-cost assets means we will continue to generate ...

Mops may have caused Qantas flight's midair flood: report SYDNEY: A torrent of water which gushed into the cabin of a Qantas superjumbo, raining down on some passengers' heads, could have been caused by cleaning mops loosening a pipe coupling, an inquiry said Wednesday.The incident, dubbed "Lakes on a Plane" by Australian media, occurred in July on an Airbus A380 carrying 401 people which had just taken off from Los Angeles for a flight to Melbourne.Australia's Transport Safety Bureau said the leak of some ...
New iPads aim to boost Apple in premium tablet market SAN FRANCISCO: With the global tablet computer market showing signs of cooling, Apple's expected unveiling of its new iPads Thursday looks to shore up its position at the high end.The iPad event in a small auditorium on Apple's campus in the Silicon Valley city of Cupertino comes with Google reportedly set to introduce a new Nexus tablet powered by Android software and manufactured by Taiwan's HTC.Google-backed Android software has the biggest share of the global ...
Euro zone industrial output falls; ministers debate weak economy BRUSSELS: Euro zone industrial production fell more than expected in August, reflecting a slump in the output of capital goods used for investment and raising concern that the economy is weaker than previously thought.The European Union's statistics office Eurostat said on Tuesday that production in the 18 countries sharing the euro fell 1.8 percent in August from July for a 1.9 percent year-on-year decline.Economists polled by Reuters had expected a 1.6 percent monthly fall and ...
Daimler says underlying profits up in Q3 FRANKFURT: German auto giant Daimler said Tuesday that underlying profits were higher in all divisions in the third quarter and it was sticking to its forecast for the full-year.Daimler, which will publish full details of its third-quarter results on October 23, said in a statement that underlying or operating profit was up in all divisions.In the biggest, Mercedes-Benz Cars, earnings before interest and taxes (EBIT) increased by 29 percent to 1.614 billion euros ($2.05 billion), ...
American Airlines Boeing makes emergency landing after wall panels come loose SAN FRANCISCO: An American Airlines Inc plane made an emergency landing in San Francisco on Monday after a number of interior wall panels came loose mid-flight, an airline spokesman said.The flight, carrying 184 passengers and six crew, was en route for Dallas when the panels started to split at the seams, making a loud popping sound, American Airlines spokesman Matt Miller said. The plane was a Boeing 757, according to flight tracking website The ...
Daimler reviews 2014 free cash flow guidance after Q3 FRANKFURT: German car and truck maker Daimler said it was reviewing its guidance for 2014 industrial free cash flow, a major factor when it comes to funding dividend payments, after the figure jumped in the third quarter. In the third quarter through September, industrial free cash flow rose to 5.4 billion euros ($6.9 billion) from 1.6 billion in the year-earlier period, Daimler said in a statement on Tuesday. Shares in Daimler, which is due to ...


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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