Volkswagen posts big drop in profitsMarch 12, 2012 - 14:55 AMT PanARMENIAN.Net - Volkswagen AG says it is targeting an increase in deliveries and revenues in 2012 as it reported a big drop in profits in the fourth quarter of last year. According to AP, Volkswagen said Monday, March 12, that it earned euro2.16 billion ($2.8 billion) in the October-December period, compared with the hefty euro3.2 billion reported in the final quarter of 2010. It said revenues rose by a quarter to euro43.06 billion from euro34.33 billion. Volkswagen's operating profit slipped to euro2.29 billion from euro2.32 billion. The company said it expects its full-year deliveries to customers and its revenues to increase in 2012. It said its goal for operating profit is to match last year's level of euro11.27 billion. 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 | U.S., Armenia sign customs deal According to Armenian customs data, U.S.-Armenian trade reached $670 million last year. Glendale mayor to visit Yerevan Asatryan last visited Armenia in December 2022-January 2023 as she helped establish a partnership between Armenia’s Opera House and Los Angeles Opera. Ucom’s fixed network launches in Nor Hachn City residents will be able to use fixed-line Internet, mobile communications and television in one package at more affordable prices. Ambassador summoned to Russia returns to Armenia Sergei Kopyrkin has returned to Yerevan more than two weeks after being recalled to Moscow for consultations. |