Sat, Apr 27, 2013 - Page 15 News List

World Business Quick Take

Agencies

AVIATION

FAA clears Boeing 787s

The US Federal Aviation Administration (FAA) on Thursday issued formal approval of Boeing’s 787 battery fix that will clear the way for the troubled aircraft to fly again after a three-month grounding. The move was quickly followed by regulators in Japan, who said they would also allow the resumption of flights by the grounded aircraft following the FAA order, which they said could come into effect as early as last night.

TELECOMS

Samsung limits Iran service

Iranian users of Samsung mobile applications said on Thursday the company had notified them that they would no longer have access to the company’s online store as of May 22. The move is seen as part of international sanctions on the country over its disputed nuclear program. The West has imposed banking and insurance sanctions on Iran since it suspects Iran is pursuing nuclear weapons, a charge Tehran denies.

FOOD

Noodle sales top 100bn

Global sales of instant noodles have topped 100 billion units annually, an industry group said yesterday — more than one monthly serving of the portable meal for every person on the planet. Of the 101.4 billion units sold last year, China, including Hong Kong, accounted for 44 billion, followed by Indonesia with 14.1 billion, Japan (5.4 billion) and Vietnam (5.1 billion), the World Instant Noodles Association said.

TELECOMS

Alcatel-Lucent posts loss

Struggling French telecom equipment maker Alcatel-Lucent yesterday reported a wider-than-expected loss for the first quarter as sales nearly stalled and restructuring costs continued to mount. The Paris-based company said it lost 353 million euros (US$461.72 million) in the January-March period, compared with a gain of 259 million euros a year earlier. Sales were nearly flat at 3.23 billion euros. The company is in the midst of a 1.25 billion euros restructuring program launched last summer to cut 5,000 jobs from the then total of 76,000.

AUTOMAKERS

Honda annual profit up 74%

Japanese automaker Honda yesterday said its net profit for the year to March soared 73.6 percent to ¥367.15 billion (US$3.7 billion) on revenue of ¥9.87 trillion, up from ¥7.95 trillion a year earlier, thanks to robust overseas sales, a weaker yen and cost cutting. Japan’s third-biggest automaker also reported an operating profit of ¥544.8 billion, up 135.5 percent from the previous year.

INSURANCE

Munich Re profit on track

Munich Re, the world’s biggest reinsurer, yesterday said it was standing by its full-year targets for the current year after getting off to a “good start” in the first quarter. CEO Nikolaus von Bomhard said in a statement the company was aiming for a consolidated result of close to 3 billion euros. Profits for the period from January to March “should be close to 1 billion euros,” he said.

INTERNET

Amazon beats expectations

Amazon.com posted earnings that beat Wall Street expectations on Thursday even though profit fell as the online retail colossus invested in shipping centers and digital entertainment content. Amazon reported a profit of US$82 million on net sales that rose 22 percent to US$16.07 billion in the first three months of this year. The Seattle-based firm made a profit of US$130 million in the same quarter last year.

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