GE reports $3bn profit
NEW YORK: US conglomerate General Electric on Friday reported stronger-than-expected profits as earnings from energy and manufacturing offset weakness at its finance and media units. The company’s net profit was $3 billion in the quarter, or $2.9 billion for common shareholders. That pushed the profit for the full year to $11.2 billion.
Russian industrial output down
MOSCOW: Russian industrial production plunged 10.8 percent in 2009 compared to 2008 but rose 2.7 percent in December on a 12-month comparison, the official data agency Rosstat said on Friday. In 2008, industrial production had gone up 2.1 percent. Russian industry has been severely hit by the global economic crisis, with car production plummeting 59.4 percent, Rosstat said.
French business confidence up
PARIS: French business leaders are gaining confidence about their near-term prospects, with an index published on Friday showing a four-point rise this month to its highest level since September 2008. The index hit 92 points, the national statistics institute INSEE reported. The measure had fallen to the lowest reading, 69, last March in response to the global economic crisis.
World steel output declines
PARIS: World steel output fell by 8.0 percent last year as the economic crisis pounded major producing countries, but emerging powers China and India bucked the trend, an industry group said Friday. World crude steel production reached 1.22 billion tons in 2009, with big drops in output in North America, South America, the European Union and the ex-Soviet bloc, the World Steel Association said in a statement.
Reliance profit increases 15.8%
MUMBAI: Indian oil, gas and petrochemicals giant Reliance Industries Ltd. said Friday its quarterly profit rose 15.8 percent on a surprise surge in sales. Net profit in the three months ended Dec. 31 was Rs.40.1 billion ($861 million). Revenue at Reliance rose 92.7 percent to Rs.588.5 billion ($12.6 billion) helped by rising oil prices.
UK retail sales surge 3.6%
LONDON: UK retail sales rose 3.6 percent in December as consumers celebrated the end of a tough year of recession by splurging on food and drink, official data showed Friday. The Office for National Statistics said the value of retail sales in stores dealing mainly in food was 4.9 percent higher than a year earlier, while spending in nonfood stores was up 1.6 percent.
— Compiled from agencies
