The cost of Internet connectivity in Africa, says the World Bank, is the highest in the world - some USD 250-300 per month.
So why is there a USD multi-billion funding shortfall for local profit making businesses that create value for local stakeholders?
The LG Home Entertainment Company reported record sales of flat-panel TVs with 9.3 million units in the fourth quarter resulting in a 17.4 percent revenue increase quarter-on-quarter to KRW 6.44 trillion (USD 5.91 billion) and full-year operating profit of KRW 542 billion (USD 480.92 million).
Amounts in Korean Won (KRW) are translated into U.S. Dollars (USD) at the average rate of the three-month period in each corresponding quarter: KRW 1, 133 per USD (2012 3Q) and KRW 1, 082 per USD (2011 3Q).
ENGADGET: LG records a 'solid' $138.57 million net profit for Q3, keeps the positive trend going
Fourth quarter revenues were the highest of the year, growing 15 percent to KRW 2.81 trillion (USD 2.58 billion) quarter-on-quarter.
Despite a 6 percent revenue decrease from 2011, operating profits increased significantly in 2012 to KRW 1.14 trillion (USD 1.01 billion) from KRW 379 billion (USD 342.06 million) in full-year 2011.
Month-end EUR demand, or more accurately USD selling, is certainly distorting some of the price action.
To be clear, unaccustomed to paying three or four figures USD for primary care needs, I generally shunned high-end international clinics and went instead to the very best available local clinics and hospitals.
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First-quarter revenues were essentially flat, declining 1.2 percent year-over-year to KRW 1.2 trillion (USD 1.1 billion).
ENGADGET: LG's Q1 2012 earnings show greater profits on strong TV, phone sales
Third-quarter revenues fell 4 percent year-over-year to KRW 12.38 trillion (USD 10.93 billion) due to the continuing decline of feature phone sales and overall weak demand.
ENGADGET: LG records a 'solid' $138.57 million net profit for Q3, keeps the positive trend going
Revenues increased by 5 percent quarter-to-quarter to KRW 2.45 trillion (USD 2.16 billion) as shipments exceeded 14 million units, an increase of 9 percent from the previous quarter.
ENGADGET: LG records a 'solid' $138.57 million net profit for Q3, keeps the positive trend going
Third-quarter net profit of KRW 157 billion (USD 138.57 million) with operating profit recording KRW 221 billion (USD 195.06 million) showed significant improvements from the loss in the same period last year.
ENGADGET: LG records a 'solid' $138.57 million net profit for Q3, keeps the positive trend going
Revenue increased 6.4 percent year-over-year to KRW 2.87 trillion (USD 2.53 billion) and operating profit of KRW 129 billion (USD 113.86 million) reflected strong sales in the United States as well as emerging markets.
ENGADGET: LG records a 'solid' $138.57 million net profit for Q3, keeps the positive trend going
That means his mark-to-market profit in this name looks like it tops USD 1.4bn, take or give a hundred million.
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In the 12 months to end March 2012 the company lost JPY 376 billion (USD 4.8 billion), largely attributable to its over-investment in money-losing liquid crystal television production and sales.
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In FY 2007- 2009, Hitachi recorded losses totaling JPY 952 billion (USD 12.2 billion).
Average rate of the twelve-month period in 2012 was KRW 1, 127 per USD.
The euro hit a 16-month high against the greenback and is currently trading at around USD 1.46.
Unaudited consolidated financial results for the fourth quarter ending Dec. 31, 2012 showed a net loss of KRW 468 billion (USD 428.96 million) which reflects a fine related to alleged cathode-ray tube pricing issues imposed by the European Commission in December.
The LG Home Appliance Company posted almost flat revenues year-on-year, with sales of KRW 2.94 trillion (USD 2.7 billion) in the fourth quarter as strong sales in the U.S. and CIS countries were largely offset by sluggish demand in Europe, the Middle East and Latin America.
In total, the government will spend the equivalent of 16.6 billion USD on infrastructure projects next year in an attempt to create 380, 000 construction-related jobs.
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In this context, she recalled that Iraq made voluntary contributions to UNESCO amounting to over USD 4 million in the first six months of 2012 alone, notably through self-benefiting projects in the field of cultural heritage preservation, and emphasized that such cooperation would be expanded to the fields of education and sciences.
The upstart or young pretender KRW (South Korean won) is currently weak against the USD on event risk, but the market anticipates the currency to trade back to pre-crisis strength against the JPY.
Between 2009 and 2011, 17 Washington State banks had been shut-down including banking behemoth, Washington Mutual (WaMu), which held USD 307bn in assets prior to being placed into FDIC receivership in September 2008.
For full-year 2012, the company recorded revenues of KRW 4.35 trillion (USD 3.86 billion) and operating profit of KRW 156 billion (USD 138.42 million).
Sales, while strong at KRW 5.3 trillion (USD 4.7 billion), declined by 6.8 percent compared with the first-quarter of 2011, largely due to the a sluggish European economy.
ENGADGET: LG's Q1 2012 earnings show greater profits on strong TV, phone sales
Overall revenues declined 14 percent year-over-year from KRW 2.9 trillion to KRW 2.5 trillion (USD 2.2 billion) as a result of declining feature phone sales but smartphone revenue increased due to the popularity of Optimus LTE and Optimus Vu: in the home market.
ENGADGET: LG's Q1 2012 earnings show greater profits on strong TV, phone sales
The award carries a cash prize of USD 8, 000 and will be handed out to the Nabana community through Change Initiatives, a Kolkata-based NGO which is implementing the UNESCO Nabanna project in the Indian state of West Bengal.
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