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Emaar Properties proposes 15pc cash dividend for 2014 DUBAI: The board of Dubai's Emaar Properties proposed a 15 percent cash dividend for 2014, it said in a statement on Thursday.The board recommended 0.15 dirham per share to shareholders, the same as the cash payout proposed for 2013, and did not match the 10 percent bonus share issue for the prior year.The dividend will be approved at the annual general meeting set for April 15, according to a bourse statement. Copyright Reuters, 2015

China backs e-commerce expansion in win for Alibaba, BEIJING: China will back e-commerce development and guide international expansion by Chinese internet companies, Premier Li Keqiang said on Thursday, in an endorsement for firms such as Alibaba Group Holding Ltd and Inc.Addressing the opening of China's annual parliamentary meeting in Beijing, Li broadly laid out China's "Internet Plus" strategy, which includes promoting cloud computing, online banking, mobile internet, along with logistics to help e-commerce expansion. He also stressed the need for more state ...

Banks brace for US Fed capital buffers inspection WASHINGTON: The largest US banks and their foreign rivals are facing a tough two-step check-up of their financial health by the Federal Reserve, forcing the firms to get a far better grip on how they measure risk.In its annual "stress tests", the Fed gauges whether banks have enough shareholder capital to withstand a severe economic shock like that of the 2007-09 crisis, when taxpayers spent billions of dollars to keep the industry afloat.On Thursday, it ...

VW reaches agreement in pay talks with Germany's IG Metall union BERLIN: Volkswagen AG said on Thursday it has reached an agreement with the IG Metall labour union in pay talks for 115,000 workers at its western German plants and its financial services division.Germany's largest union demanded a 5.5 percent pay increase and wants VW to increase the number of apprenticeships per year.IG Metall last month dismissed an offer by Europe's largest carmaker to raise wages by only 2.2 percent and to create 2,800 apprenticeships in ...

World Bank sees Kenya's GDP growth at 6.0pc in 2015 NAIROBI: Kenya's economy is forecast to grow by 6.0 percent in 2015 and 6.6 percent in 2016, making it one of the fastest growing in east Africa, the World Bank said on Thursday in its latest economic update.The bank said Kenya's economy grew by an estimared 5.4 percent in 2014, while its growth could reach 7.0 percent in 2017.It attributed the forecast to falling oil prices, and higher investments in infrastructure like energy and the ...

Huawei, Intel expand tie-up amid China's rising scrutiny of US tech firms BEIJING: China's Huawei Technologies Co Ltd and Intel Corp are expanding an existing alliance to provide cloud computing to global telecoms carriers, as US tech firms vie for Chinese tie-ups to retain access to a tough mainland market.The partnership, announced by Huawei in a statement, comes as U.S and other Western tech firms' scramble to burnish their bona fides with China, which has become increasingly wary of foreign technology.Joining hands with Chinese companies, including technology ...

Funding the unfunded: India helps small business borrow to grow MUMBAI: A new bank announced in India's annual budget last week could boost loans and cut borrowing costs for the country's cash-starved small businesses -- tailors, mechanics and phone booth operators who account for around a fifth of the economy.MUDRA bank - to be set up with $3.2 billion of capital to help microfinancing firms to lend more - should help leverage up firms which account for 40 percent of India's exports, just as India ...


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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln