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Siemens to buy US oil equipment maker Dresser-Rand for $7.6bn WASHINGTON: Germany's Siemens on Sunday announced it will buy US oil equipment maker Dresser-Rand Industries, for $7.6 billion.Siemens said it offered 83 dollars per share, which puts the value of the deal at $7.6 billion or 5.8 billion euros, the company said on its website.Sources close to the matter had confirmed to AFP Friday that GE had preliminary discussions with the Houston, Texas company, though they would not say whether GE intended to make a formal offer.Siemen's Swiss rival Sulzer was also reportedly eyeing Dresser-Rand.The interest comes as the group enjoys a business surge on the back of US shale oil and gas drilling.Copyright AFP (Agence France-Presse), 2014 ...

Nissan defections reignite questions about future CEO TOKYO: A string of defections by top Nissan executives is reigniting longstanding questions about who will succeed chief executive Carlos Ghosn, the man widely credited with reinventing Japan's number-two automaker.Speculation about Nissan's future hit a fever pitch earlier this month after the resignation of Andy Palmer, a widely respected Ghosn lieutenant, who took up the top job at British sports car maker Aston Martin.That followed the July departure of Johan De Nysschen, who led Nissan's ...
Air France pilots vote to extend strike by a week PARIS: Air France pilots have voted to extend for another week a strike over their airline's push to develop a low-cost subsidiary they fear will undermine their jobs, their main union said Saturday.The stoppage, which has already run for nearly a week, is already the longest suffered by Air France in 16 years.More than half of the company's flights have been scrapped, disrupting the travel plans of tens of thousands of passengers. The airline says ...
Nissan USA aims to keep electric battery production WASHINGTON: Japanese automaker Nissan is dismissing speculation that it intends to scale back electric car battery production at its US plant in Tennessee.Nissan's ambitious electric vehicle program has been a signature initiative of Carlos Ghosn, the chief executive at both Renault and Nissan."The Renault-Nissan Alliance remains 100 percent committed to its industry-leading EV program," spokesman Travis Parman said in a statement."This global commitment continues for the foreseeable future, and we have not taken any decision ...
Shells leave Ukraine's coal miners digging for survival VILKHIVKA: They spend much of their day clearing their gardens of shrapnel, digging up potatoes or chopping wood to prepare for the fast-approaching winter.The coal miners of the village of Vilkhivka in eastern Ukraine haven't been working for months, forced to down tools by the shells they say are still falling almost every day."As miners, we used to get coal for the stove," says Pavel Krivonosov, 64, who despite his age still used to work ...
Prada to open fewer stores in 2014 after H1 profit drops HONG KONG: Prada SpA will open fewer stores than previously planned this year, the Italian luxury goods group said on Friday, after reporting a 21 percent fall in its first-half net profit.The company said it did not see significant improvements in the luxury market in the coming months and forecast a second half broadly in line with the first six months to end-July, without specifying if it was referring to sales or profit.In April Prada ...
Turkey working to produce electricity from pistachios ISLAMABAD: Turkey, the world's third-largest producer of pistachios, will gather biogas from the nuts, which are related cashews, to produce electricity.Production will begin initially in Gaziantep, a southeastern city of more than a million people that is one of the most important agricultural centers in the country, Anadolu Agency reports.Among Gaziantep's features are numerous pistachio orchards.Scientists in Turkey have been working to produce biogas from pistachios on an experimental level for more than three years ...


Index Closing Chg%
Arrow DJIA 16,804.71 1.40
Arrow Nasdaq 4,422.09 1.59
Arrow S&P 1,946.16 1.32
Arrow FTSE 6,557.52 0.98
Arrow DAX 9,382.03 0.97
Arrow CAC-40 4,365.27 1.15
Arrow Nikkei 16,082.25 0.56
Arrow H.Seng 22,932.98 1.28
Arrow Sensex 26,567.99 0.23

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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
WeeklySeptember 25, 2014
Reserves $13.305 bln