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Apple supplier Hon Hai plans new display facility in Taiwan TAIPEI: Taiwan's tech giant Hon Hai said Thursday it plans to invest around Tw$80 billion ($2.6 billion) for a new smartphone display facility on the island, reportedly to manufacture mainly Apple products.Hon Hai founder Terry Gou said the company and its unit, flat-panel maker Innolux Corp., will jointly invest in the facility in southern Kaohsiung city which will produce displays used in smartphones."We hope to make mobile phones here. Innolux is lacking in the area of small and medium-sized panels ... The total amount is around Tw$80 billion but could go up to Tw$100 billion," Gou said in comments aired by local television.The Taipei-based China Times and Economic Daily News reported that the facility will mainly manufacture Apple products such as iPhones.Hon Hai, also known as Foxconn, is the world's largest computer components manufacturer and assembles products for Apple -- including the iPhone series -- as well as Sony and ...

ThyssenKrupp back in the black in year to September FRANKFURT: German heavy industry giant ThyssenKrupp said Thursday it turned in a profit for the first time in three years in the 12 months to September."For the first time in three years the Essen-based industrial and technology group has generated a net profit," ThyssenKrupp said in a statement.The group runs its business year from October to September and in year ended September 30, it booked net profit of 210 million euros ($263 million), compared with ...
Luxury cars in pole position at LA auto show LOS ANGELES: Luxury cars lead the grid at the LA Auto show: limited editions, $200,000+ price tags, 3D dashboards for drivers and champagne on ice for passengers.What more could the ultra-rich motorist want?Red-hot stock markets, historically low interest rates and cheaper gas prices are fueling a surge in sales of top-of-the-range cars at the West Coast show."The market is very robust," with 5-6 percent growth expected next year, said Johan de Nysschen head of General ...
Apple, Xiaomi trade smartphone barbs in China WUZHEN: Top executives from US technology giant Apple and Chinese smartphone upstart Xiaomi traded light-hearted barbs on Thursday at a Chinese Internet conference, acknowledging the fierce competition between the rivals.Apple's iPhones and iPads are wildly popular in China, encouraging smuggling and crowds at the company's stores as consumers try to lay their hands on the latest products.Yet Apple stood in sixth place in China's fractured smartphone market with only a 6.9 percent share in the ...
Airbag maker Takata faces tough day on Capitol Hill NEW YORK: Embattled auto supplier Takata will be under the microscope Thursday when a Senate panel opens a probe into the Japanese company's dangerously defective airbags, installed in millions of cars worldwide.Witnesses will include Takata's top quality assurance executive and officials from Honda and Chrysler, as well as a woman who has sued over allegations that shrapnel from an exploding Takata airbag struck her in the eye.Also testifying will be a top official with the ...
Firefox browsers switch to Yahoo for online search SAN FRANCISCO: Firefox maker Mozilla announced Wednesday that it is switching to Yahoo as the default service for online searches done through the Web browser in the United States.Google has been the default option for Firefox searches since 2004, but beginning next month that role in the US will go to Yahoo, according to Mozilla Corporation chief Chris Beard."We are ending our practice of having a single global default search provider," Beard said in a ...
China Railway Construction wins $12bn Nigeria deal BEIJING: China Railway Construction Corp has signed a deal worth nearly $12 billion with Nigeria to build a railway along the West African nation's coast, Chinese state news agency Xinhua said on Thursday.The announcement comes shortly after Mexico abruptly scrapped a $3.75 billion high-speed rail contract with a consortium led by the Chinese firm over transparency concerns.China is pushing to win railway construction projects around the world as part of plans to export its high-speed ...


Index Closing Chg%
Arrow DJIA 17,810.06 0.51
Arrow Nasdaq 4,712.97 0.24
Arrow S&P 2,063.50 0.52
Arrow FTSE 6,750.76 1.08
Arrow DAX 9,732.55 2.62
Arrow CAC-40 4,347.23 2.67
Arrow Nikkei 17,357.51 0.33
Arrow H.Seng 23,437.12 0.37
Arrow Sensex 28,334.63 0.95

Banking Review 2013

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln