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VW's Audi aims to raise China sales with revamped A4 BERLIN: Audi hopes that the redesigned top-selling A4 saloon will shore up its fortunes in China where the premium brand is grappling with dwindling sales and a leadership change.Global carmakers have come under pressure to raise their game in the world's biggest auto market where an anti-corruption drive, a slowing economy and tumbling stocks are weighing on sales.Volkswagen's flagship division will court Chinese buyers with a lighter and more fuel-efficient version of the A4, which last year added a fifth to Audi's global output of 1.8 million cars, Audi product manager Jens Kotnik said."The A4 is a crucial pillar of our global growth strategy," Kotnik said in an interview. "It's a key model for Audi, especially in our main markets China, Europe and North America."Ingolstadt, Germany-based Audi has a goal to wrest the luxury-sales crown away from BMW by the end of the decade, in a three-way contest that also ...

Canon profit tumbles 20.5pc on weak camera demand TOKYO: Japan's Canon said on Monday that its net profit fell 20.5 percent in the first six months of the year as smartphones increasingly take a bite out of demand for digital cameras.The photography and office equipment giant reported a 102.13 billion yen ($830 million) profit for the January-June period, while operating profit fell 11.5 percent to 170.90 billion yen.Sales ticked up 2.0 percent to 1.83 trillion yen from a year earlier."Demand for digital cameras ...
Ryanair says Q1 profits climb LONDON: Irish no-frills airline Ryanair said Monday that net profits jumped by almost a quarter in the first three months of its financial year, helped by keen demand and cost-cutting.Earnings after taxation rallied almost 25 percent to 245 million euros ($270 million) in the three months to June 30, compared with 197 million euros in the same part of the previous fiscal year, Ryanair said in a results statement.Revenue swelled ten percent to 1.653 billion ...
Hyundai India to raise car prices by up to 30,000 rupees MUMBAI: South Korea's Hyundai Motor Co will raise prices on all but one of its car models in India by up to 30,000 rupees ($469) from Aug. 1 as input costs rise, the company said in a statement on Saturday.The newly launched sport-utility vehicle Creta was excluded from the price rise, it said."The price increase has been necessitated by increase of input costs. We have been absorbing most of the costs but now we are ...
Square exploring stock market debut: reports SAN FRANCISCO: Payments company Square has informed US regulators privately that it is exploring going public with a stock market debut, according to reports Friday.The mobile payments and financial services startup launched by Twitter co-founder Jack Dorsey is stealthily looking into an initial public offering of stock.He's doing so under legislation that lets young, growing companies secretly begin the process if they bring in less than a billion dollars in annual revenue, media reports said.The ...
Fiat Chrysler recalls 1.4mn vehicles after Jeep hacked NEW YORK: Fiat Chrysler Automobiles issued a safety recall for 1.4 million cars and trucks Friday after hackers demonstrated that they could remotely control the vehicles' systems while they are in operation."The recall aligns with an ongoing software distribution that insulates connected vehicles from remote manipulation, which, if unauthorized, constitutes criminal action," said FCA US, the American arm of the Italian auto group, in a statement.Copyright AFP (Agence France-Presse), 2015 ...
India's Reliance Q1 profits up despite oil price slump MUMBAI: India's Reliance Industries announced better-than-expected profits Friday as income from core operations of refining and petrochemicals offset the impact from the slump in global oil prices.The Mumbai-based firm owned by Mukesh Ambani, India's wealthiest man, said in a statement that standalone profit in the three months until June 30 rose 11.8 percent to 63.18 billion rupees ($987.19 million) from 56.49 billion rupees a year ago.This outpaced the profit estimate of 62.5 billion rupees predicted ...

 



 
Index Closing Chg%
Arrow DJIA 17,550.69 0.27
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Arrow DAX 11,456.07 0.11
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Banking Review 2014


Annual2013/14
Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
MonthlyJune-July
Trade Balance $-22.095 bln
Exports $23.885 bln
Imports $45.980 bln
WeeklyAugust 03, 2015
Reserves $18.536 bln