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European auto market pulls away from crisis: trade data PARIS: Demand for cars in Europe moved up another gear in March and struggling French group Peugeot Citroen did well, trade data showed on Thursday, but the market is still suffering badly from a recent slump.Sales of new cars in the European Union surged by 10.6 percent last month on a 12-month comparison to a total of 1.45 million.Sales rose in all countries in March with the British market leading the way, jumping 17.7 percent, followed by an increase of 10.0 percent in Spain, 8.5 percent in France, 5.4 percent in Germany and 5.0 percent in Italy.The recovery is broadly in line with general economic data suggesting that the impact of the eurozone debt crisis, and of austerity reforms, is fading as growth and confidence edge upwards.Sales of French Renault's cheap Dacia cars shot up by half in the month.In the first quarter of the year, sales in Britain rose ...

Ford's Lincoln brand to debut in China with eight stores in seven cities: exec BEIJING: Ford Motor Co. said on Friday it plans to launch its premium Lincoln brand in China in October, when it will open eight stores in seven Chinese cities.John Lawler, head of Ford's China operations, said Lincoln might be late to China's luxury boom but believes the country's upscale car market still has plenty of steam left for growth to make its debut worthwhile.He said Ford plans to boost the number of Lincoln stores to ...
Crisis-hit Co-op reveals 2013 loss of $4.2bn LONDON: Britain's Co-operative Group made a loss of 2.5 billion pounds ($4.2 billion) in 2013, a year it described as disastrous and the worst in its 150-year history.Co-op, which was hit by a 1.9 billion pound funding gap at its bank, a drugs scandal and an exodus of top executives, said on Thursday the results served as a wake-up call to the serious challenges that it faces."2013 was a disastrous year for The Co-operative Group, ...
Japan steelmaker ready to ship world's longest rail tracks TOKYO: Japan's top steelmaker said Thursday it has built a system to make and ship the longest pieces of railway track in the world, extending to 150 metres (492 feet).Nippon Steel & Sumitomo Metal said its extra-long rails are more durable than shorter ones that need to be welded together and can offer passengers a quieter, more comfortable ride.The company, the world's second-largest steelmaker after ArcelorMittal, has been making the 150-metre rails since 2002, but ...
Taiwan Semiconductor profit up 21 percent in Q1 TAIPEI: Taiwan Semiconductor Manufacturing Co said Thursday its first-quarter net profit rose 21 percent year-on-year, boosted by stronger than expected demand for chips used in smartphones and tablets. The world's biggest contract chip maker said net profit rose to Tw$47.87 billion ($1.6 billion) in the January-March period, while revenue grew 11.6 percent to Tw$148.22 billion from a year earlier. Net profit and revenue rose 6.8 percent and 1.7 percent, respectively, from the fourth quarter last ...
Amazon hit by new strikes in Germany FRANKFURT: Two of Amazon's key sites in Germany were the target of fresh walkouts by staff on Thursday in an long-running wage dispute. The services sector union Verdi has called for full-day stoppages at Amazon's logistics centres in Leipzig and Bad Hersfeld. Participation was "good," a Verdi spokesman told AFP, without specifying how many employees took part in the strike.Amazon has a workforce of around 2,000 in Leipzig and 3,300 at Bad Hersfeld.Amazon has a ...
SAP confirms 2014 forecasts after solid Q1 FRANKFURT: German software giant SAP said on Thursday it is sticking to its full-year forecasts for 2014 after profits rose slightly in the first quarter.SAP said that net profit rose by 3.0 percent to 534 million euros ($739 million) in the period from January to March, underlying or operating profit was up 12 percent at 723 million euros on a 3.0-percent increase in revenues to 3.698 billion euros. SAP publishes two sets of accounts, one ...

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyFebruary
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln