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Finland cashes in on cold by luring data storage firms HELSINKI: With freezing winters where the mercury can sink well below zero and cool summers, Finland will never be a destination of choice for the world's sun-seekers.But its chilly weather has attracted technology giants such as Google and Microsoft that seek a cool haven for thousands of servers holding terabytes of data from around the world."In Finland we are excited that we can finally turn (our) cold climate and uneventful boring society into a competitive advantage," said tech-industry writer Petteri Jaervinen.The rapid rise of the Internet and the digital economy have fuelled an exponential growth in demand for data storage.But data banks generate a lot of heat and are very expensive to cool, particularly in hot weather. That means companies can bank large savings by locating servers in countries like Finland, with its cool climate and temperate summer.In 2009, Google bought an old paper factory in Hamina, a town near ...

It has no fix yet for some recalled Cadillacs with switch issues: GM DETROIT: General Motors Co has ordered Cadillac dealers to stop selling some versions of the CTS model-range because the automaker does not have a fix yet for cars recalled in late June over an issue where engines can be shut off if the driver's knee bumps the ignition key, the company said on Saturday. Details of incidents leading up to the June 30 recall, including three occasions where GM employees bumped the keys and shut ...
India Reliance posts record $1-billion Q1 profit NEW DELHI: Indian retail-to-energy group Reliance Industries Ltd reported a record $1-billion net profit for the financial first-quarter, fuelled by a strong petrochemicals performance.Reliance, controlled by the country's wealthiest man Mukesh Ambani, announced net profit for the three months to June climbed by a better-than-expected 13.7 percent to 59.57 billion rupees ($1 billion) in the same period a year ago.The group, which owns a supermarket chain and a telecommunications company but derives most of its ...
GM admits more problems with mislabeling of ignition switch parts DETROIT: General Motors Co in 2003 and 2004 made changes to redesigned ignition switch parts on four models but did not ensure that older, potentially faulty parts were taken out of circulation, the automaker said in a filing with U.S. safety regulators made public on Friday.That means that an unknown number of possibly flawed parts could have been used to service GM models brought in for repair at dealerships or repair shops after the redesign ...
Jeffrey Hedberg appointed as new CEO of Mobilink KARACHI: Rashid Khan retires after 14 illustrious years in various leadership roles. Mobilink, the Pakistan leading cellular company, part of VimpelCom Ltd. a leading global provider of telecommunications services, today announces that Jeffrey Hedberg has been appointed as Chief Executive Officer of Mobilink, Pakistan. Jeffrey Hedberg succeeds Rashid Khan, who has decided to retire after tenure of over 14 years in leading positions with Mobilink and Banglalink. Rashid Khan will continue to perform the duties ...
Lumia 930 beautifully integrates the best of Microsoft and Lumia, now available in Pakistan. KARACHI: Microsoft Devices Pakistan recently announced the availability of Lumia 930 across Pakistan. Lumia 930 is the flagship Lumia device which features the best of Microsoft and Lumia and runs on Windows Phone 8.1.Commenting on the availability of Lumia 930, Kamran Masood Niazi, Communications Manager, Microsoft Devices Pakistan said, “The Lumia 930 is our latest flagship device in the Lumia range, which comes with beautifully crafted flagship design, flagship specs from processing power to screen ...
GE profits up as it eyes July retail finance IPO NEW YORK: General Electric Friday reported higher second-quarter earnings following gains in most industrial segments as it targets late July for a stock listing of its North American retail finance arm.Net earnings for GE, considered a proxy for US industrials, came in at $3.5 billion, up 13.2 percent from the year-ago period.GE notched higher profits in six of its seven industrial segments, including the two largest areas, power and water, and aviation.The conglomerate said it ...


Index Closing Chg%
Arrow DJIA 16,982.59 0.13
Arrow Nasdaq 4,444.91 0.10
Arrow S&P 1,978.91 0.03
Arrow FTSE 6,788.07 0.05
Arrow DAX 9,598.17 0.48
Arrow CAC-40 4,344.77 0.33
Arrow Nikkei 15,529.40 0.46
Arrow H.Seng 24,428.63 0.88
Arrow Sensex 25,991.23 0.52

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln