Arab Today, arab today germany\s bayer boost cash reserves
Last Updated : GMT 06:27:20
Arab Today, arab today
Arab Today, arab today

Germany\'s Bayer boost cash reserves

Arab Today, arab today

Arab Today, arab today Germany\'s Bayer boost cash reserves

Berlin - AFP

German chemicals and pharmaceuticals giant Bayer said Sunday it has boosted its cash reserves five-fold to some 3.8 billion euros as insurance against any unexpected downturn in the economy. We have available liquidity of 3.8 billion euros ($5.2 billion) ... we are sort of paying an insurance premium,\" finance director Werner Baumann told the weekend edition of Borsen Zeitung. Baumann said these funds could be accessed easily if needed, noting \"we have an unacceptably high level of unpaid bills due in the public sector, especially in Portugal, Italy and Spain.\" Eurozone member Portugal, like Greece and Ireland bailed out by the EU and International Monetary Fund to save them from default, has slashed public spending in an effort to balance its books, dampening the economy. In Italy and Spain, seen as the next possible victims of the debt crisis, there have been payment delays on bills which were normally settled within 30 to 60 days, Baumann said. Such overdue bills now total hundreds of millions of euros but Baumann said Bayer would not halt deliveries. \"In the interests of our patients, we would not go that far,\" he said. Bayer last month reported that its net profit jumped 125 percent to 642 million euros in the July-September period, with sales up one percent to 8.67 billion euros.  

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today germany\s bayer boost cash reserves Arab Today, arab today germany\s bayer boost cash reserves

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today germany\s bayer boost cash reserves Arab Today, arab today germany\s bayer boost cash reserves

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today How to do your own Ramadan corner?

GMT 15:53 2017 Saturday ,27 May

How to do your own Ramadan corner?
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday