Siemens reports decline in quarterly profitsJanuary 23, 2013 - 15:37 AMT PanARMENIAN.Net - Siemens, the German industrial giant, has reported a decline in quarterly profits, adding it expects no help this year from the weak global economy, BBC News reported. For the three months to December, net income fell 12% to 1.2bn euros ($1.6bn) from the same period a year earlier due to a 150m-euro loss in its solar power business. But revenue rose 2% to 18.1bn euros. "In an uncertain economic environment, we got off to a solid start in fiscal 2013," it said. Peter Loescher, chief executive of Siemens, said: "For the rest of the year, we don't expect any tailwinds from the global economy to help us reach our ambitious goals." Siemens said new orders had fallen as a result of the "macroeconomic uncertainty that affected investment sentiment". Emerging markets grew 4% year-on-year, accounting for 5.98bn euros, or 33%, of its total revenue for the quarter. The firm added that growth in the Americas had offset declines in Europe. 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 | Putin congratulates Pashinyan’s birthday Russian President Vladimir Putin congratulated Armenian Prime Minister Nikol Pashinyan on his birthday on June 1. Opposition motorcade en route to Gyumri for large rally A motorcade of protesters headed by Archbishop Bagrat Galstanyan is heading to the city of Gyumri. Ruling MPs, Foreign Minister talk Armenia-Azerbaijan processes MOs from the ruling Civil Contract party met with the Foreign Minister Ararat Mirzoyan in the Armenian parliament. Russia: Armenia’s frozen membership weakens CSTO position in Caucasus A Russian envoy said any step that could alienate the CSTO member states from each other is “deeply wrong”. |