Renault profits down 39% in 2012 first halfJuly 27, 2012 - 12:48 AMT PanARMENIAN.Net - French carmaker Renault's profits plunged 39 percent in the first half of the year driven in part by expenses related to changes in the product cycle. Its revenues were largely unchanged over last year, the Associated Press reported. The company sold a record number of vehicles outside Europe from January to June, off-setting a sharp fall-off in its core market. Sales slipped 1 percent for the first half to €20.9 billion ($25.6 billion). Net profit was €746 million. The company said Friday, July 27 that it expects that trend to continue in the second half of the year and become even more pronounced. It now predicts the French market will contract 10 to 11 percent, and the rest of Europe will shrink 6 to 7 percent. Global demand, by contrast, should rise 5 percent. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. Mkhitaryan raises arrest of former Karabakh leaders in Azerbaijan Inter Milan star Henrikh Mkhitaryan has shared a news story about the extension of the arrest of former Karabakh leaders. |