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Russia's biggest lender Sberbank said Thursday that its first quarter net profit was slashed by more than half compared with a year earlier, as the country's economy slid into recession. The net profit of the Moscow-based bank, descendant of the savings societies from the tsarist era, fell by 58 percent to 30,6 billion rubles ($584 million, 533 million euros) compared with the same period in 2014. Net interest income plunged by 16.4 percent to 200.3 billion rubles.

Etihad Airways net profits surged by more than half in 2014 to $73 million, the Abu Dhabi-based carrier said Thursday, buoyed by increased passenger numbers and further expansion into the European market. Revenue for the fast-growing carrier rose 26.7 percent to $7.6 billion, with net profits increasing 52.1 percent from $48 million in 2013, Etihad said in a statement. The airline said it carried 14.8 million passengers in 2014, up 22.3 percent from the year before, when it transported 12.1 million passengers.
Toll Brothers Inc, the largest US luxury homebuilder, reported a better-than-expected quarterly profit and raised the low end of its average selling price forecast for the full year as demand strengthens. The company raised the low end of its average selling price range to $730,000 from $725,000. The upper end was unchanged at $760,000.
Dutch retail giant Ahold on Wednesday announced a more than threefold jump in net profit on the back of a strong dollar as it moves to create one of the world's largest supermarket groups. Net profit jumped from 50 million euros ($54.5 million) to 213 million euros year-on-year, as Ahold bounced back after a taking a huge tax hit in 2014 and settling a $297 million lawsuit in the United States.
Tata Motors Ltd , India's biggest automaker by revenue, reported a surprise 56 percent drop in quarterly net profit on Tuesday, hit by cooling demand for its sleek Jaguar saloons and sporty Range Rovers in the key Chinese market. The company said it expected mixed economic conditions in China, the world's largest auto market, and other emerging economies to weigh on EBITDA margins for the fiscal year that started on April 1 compared with a year ago.
Hewlett-Packard Co, the world's No 2 PC maker, reported a quarterly profit above market estimates, helped by cost cuts. The company said its planned separation was on track and forecast related dis-synergies of about $400 million-$450 million. "I think it will alleviate concerns about what level of dis-synergies they would have to absorb in the first year following the split," Cross Research analyst Shannon Cross said. The 75-year-old company has said it will separate its computer and printer businesses from its faster-growing corporate hardware and services operations.
British retailer Marks & Spencer posted its first rise in annual profit in four years and said it would return excess cash to shareholders, fuelling hopes that it has finally rediscovered a successful formula.


Index Closing Chg%
Arrow DJIA 18,010.68 0.64
Arrow Nasdaq 5,070.03 0.55
Arrow S&P 2,107.39 0.63
Arrow FTSE 6,984.43 0.80
Arrow DAX 11,413.82 2.26
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Arrow Nikkei 20,563.15 0.06
Arrow H.Seng 27,424.19 0.11
Arrow Sensex 27,828.44 1.17

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Banking Review 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.795 bln
Exports $1.995 bln
Imports $3.790 bln
WeeklyMay 28, 2015
Reserves $17.494 bln