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South Korea's Samsung Electronics Co Ltd on Wednesday announced a $2 billion share buyback plan, its first since 2007, following investor calls for higher returns against a backdrop of rapidly declining profits. The world's largest smartphone maker will buy back 1.65 million common shares and 250,000 preferred shares to stabilise its share price and boost value for shareholders, it said in a regulatory filing, its second-largest buyback ever.

Upscale jeweller Tiffany & Co reported a better-than-expected rise in same-store sales, mainly due to strong demand in the Americas, sending its shares to a record high. The company's new jewellery lines, such as the Atlas Collection and Tiffany T, have been popular with customers. Sales in the Americas rose 10 percent to $459 million in the third quarter ended October 31, accounting for nearly half of total revenue.
Europe's biggest home-improvements retailer Kingfisher said Tuesday that third-quarter sales and profits sank, hit by tough trade in France and adverse foreign exchange moves. Total sales fell 3.6 percent to £2.8 billion ($4.4 billion, 3.5 billion euros) in the 13 weeks to November 1, compared with a year earlier, Kingfisher said in a results statement.
Mobily, Saudi Arabia's second-biggest telecoms network operator, said on Sunday it has suspended its chief executive Khalid al-Kaf and put his deputy Serkan Okandan in temporary charge pending an investigation into accounting errors. Earlier this month the company announced a restatement of its results which it blamed on accounting errors, wiping out 1.43 billion riyals ($381 million) of previously reported profits and sending its share price tumbling.
EasyJet's annual profits climbed on the back of rising passenger numbers and sales, the no-frills British airline said on November 18. Net profits, or earnings after taxation, rallied 13 percent to £450 million ($704 million, 565 million euros) in the group's financial year to the end of September, compared with 2012/13, EasyJet said in a results statement.
New aircraft and fresh routes will help Dubai's flagship carrier Emirates grow profit by no less than eight to ten percent in coming months, its president said on November 19. "We will continue to grow at a percentage which is never going to be less than about 8-10 percent, and that's a conservative figure," Tim Clark said on the sidelines of an aviation conference in Dubai.
Malaysia-based AirAsia, the region's biggest low-cost carrier by fleet size, said Wednesday its third-quarter net profit plunged a year-on-year 85 percent due mainly to higher financing costs. Net profit for the quarter ending September 30 was 5.4 million ringgit ($1.61 million), the company said, while revenue increased 3.1 percent to 1.32 billion ringgit.

 



 
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Banking Review 2013


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlySeptember
Trade Balance $-2.380 bln
Exports $2.181 bln
Imports $4.561 bln
WeeklyNovember 13, 2014
Reserves $13.268 bln