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 | Erdogan wants “realistic road map” for relations with Armenia Turkish President Recep Tayyip Erdogan has called for a “new realistic road map” for relations with Armenia. Armenia-Azerbaijan: Experts launch work on determining coordinates Expert groups from the countries started the process of determining the coordinates based on geodetic measurements. Yerevan says did not expect CSTO in peacekeeping role Pashinyan has declared that the CSTO would be expected to come to the Armenia-Azerbaijan border as an ally of Armenia Henrikh Mkhitaryan wins Serie A title with Inter Inter Milan midfielder Henrikh Mkhitaryan admits that the team have long been imagining clinching Serie A against AC Milan. |