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PepsiCo Inc reported a higher-than-expected quarterly profit and raised its full-year adjusted earnings forecast, helped by strong sales of snacks such as Lays and Doritos chips in North America. Shares of the maker of Pepsi-Cola, Frito-Lay snacks and Tropicana juice rose 2.3 percent to $91.25 before the bell. The company said organic revenue grew 5 percent in its global snacks business, partly due to price hikes.

Broadcom Corp said on Tuesday it is winding down its money-losing cellular baseband chip business and cutting one-fifth of its total workforce, instead of selling the unit. Chief Executive Scott McGregor told analysts on a conference call that after Broadcom said in early June it would exit baseband and then tested the market for a possible sale, the company decided to shut it down.
The European Commission said on Wednesday that low-fare airline Ryanair must repay about 9.6 million euros in illegal state aid it received for its operations in several French regional airports. The Commission, the European Union's executive arm, said Ryanair would have to repay 868,000 euros ($1.16 billion) related to rebates and marketing arrangements negotiated at Angouleme airport in central France.
Boeing Co reported a 52 percent increase in quarterly profit, helped by a rise in commercial aircraft deliveries, and raised its full-year earnings forecast. Still, that was not enough for the company to beat Wall Street's average revenue estimate.
Data storage products maker EMC Corp, under pressure from activist investor Elliott Management to boost shareholder returns, accelerated its share buyback plan and raised its current-year profit forecast. The company raised its share buyback plan to $3 billion from $2 billion for 2014 and said it expects to return more than $7 billion to shareholders over the course of 2013 and 2014 in the form of buybacks and dividends.
Germany's Daimler reported a 12 percent gain in underlying second-quarter operating profit, propelled by Mercedes as its new C-Class and E-Class models helped the luxury auto maker lift margins. The Stuttgart-based maker of trucks and cars said group earnings before interest and tax (EBIT) from ongoing business rose to 2.46 billion euros ($3.3 billion) from 2.19 billion in the three months ended June, beating a 2.38 billion average forecast in a Reuters poll.
Mashreq, Dubai's third-biggest lender by assets, on Wednesday posted a 45 percent rise in second-quarter net profit, aided by higher lending and a strong local economy. The results continue the trend of positive earnings from banks in the United Arab Emirates as the local economy recovers from the sovereign-linked debt crisis and bursting of a real estate bubble at the end of the last decade.

 



 
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Annual2012/13
Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
MonthlyMay
Trade Balance $-1.558 bln
Exports $2.117 bln
Imports $3.675 bln
WeeklyJuly 10, 2014
Reserves $14.638 bln