Stockholm - Nordic telecommunications group Telia Sonera on Thursday posted higher pre-tax income for second quarter 2008.

The group said earnings before interest, taxes, depreciation and amortization (EBITDA) was 7.97 billion kronor (1.3 billion dollars), compared to 7.51 billion kronor in the corresponding business period 2007.

Sales in the quarter increased 5.7 per cent to 25.27 billion kronor.

Chief Executive Lars Nyberg said operations in Eurasia developed "strongly."

IDBI Bank, a leading public sector lender, has reported a net profit of Rs 160 crore for the quarter ended June 30, 2008, up 4% as against Rs 153 crore in the corresponding quarter ended June 30, 2007.  

The total income for the reporting quarter rose 24.94% to Rs 2,740 crore from Rs 2,193 crore in the year-ago period.

Recently, Stock Holding Corporation of India Limited (SHCIL) has signed a pact with IDBI Bank for issuing of stamp certificates and collection of money on its behalf as Authorised Collection Centre.  

New York - US phone giant AT&T dialed in a 30 per cent increase in second quarter profits Wednesday as mobile phone revenue more than compensated for a steep drop in home land lines.

The Dallas-based telecommunications company reported net income of 3.77 billion dollars, or 63 cents a share, compared with a profit of 2.9 billion dollars, or 47 cents a share, a year ago. Revenue rose 4.7 per cent to 30.87 billion dollars from 29.48 billion dollars a year ago.

AT&T said that wireless revenue was up 16 per cent in the quarter with revenue from data services such as text messages and mobile email up 52 per cent.

Berlin  - Europe's biggest carmaker Volkswagen AG reported Wednesday a 35-per-cent jump in second-quarter earnings as demand for new models helped to offset surging fuel costs and growing economic uncertainty.

Net profit for the German-based auto group rose to 1.643 billion euros (2.58 billion dollars) compared to 1.22 billion euros posted in the same period last year, with key emerging economies expected to power the company's business growth during the rest of the year.

"This shows that we are on the right track," said VW chief Martin Winterkorn, releasing the results. "Our innovative products are meeting with an enthusiastic response from our customers."

Turin, Italy - Italian industrial group Fiat reported Wednesday a 3-per-cent rise in second-quarter profit over the previous year - a performance sustained by an increase of sales in its auto division including strong growth in the Brazilian market.

Net profit before minority interests totalled 646 million euros (1.02 billion dollars) from 627 million euros for the same period last year, the Turin-based company said in a statement.

Sales rose by nearly 12 per cent to 17 billion euros, it said.

The company's main auto division, which makes Fiat branded models - including the Punto, Bravo and Fiat 500 - as well as Alfa Romeo, Lancia, Maserati and Ferrari, recorded a 14-per-cent climb in sales to 8.4 billion euros.