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Sharp asks turnaround fund for help, on top of aid from banks TOKYO: Loss-making Sharp Corp has asked a domestic corporate turnaround fund to invest up to $250 million in capital - aid which would come on top of plans to tap its two main lenders for a second major bailout, a source said on Friday.Weak sales of smart phone screens in China, aggravated by an unexpected comeback by rival Japan Display Inc, have derailed Sharp's recovery efforts. It has warned of its third annual net loss in four years and is now working on a fresh plan to overhaul its business.Sharp Chief Executive Kozo Takahashi met with officials from its main lenders Mizuho Bank and Bank of Tokyo-Mitsubishi UFJ on Thursday, although he did not request specific amounts or make promises about restructuring, sources familiar with their exchange said.The embattled electronics manufacturer has also reached out to Japan Industrial Solutions to offer a stake worth up to 30 billion yen, according ...

China's Kaisa to unveil offshore debt restructuring plan HONG KONG: China property developer Kaisa Group Ltd will hold a conference call for its offshore bondholders next week to discuss a proposed restructuring plan, a notice on the company's website said.The call, to be held on Monday morning at 1000 local time(0200 GMT), will provide an overview of the struggling homebuilder's current situation, the proposed acquisition of the company by Sunac China, and its restructuring plan.Kaisa has been mired in crisis since late last ...

German industrial output sees surprise uptick in January BERLIN: German industrial production grew more than expected in January while the figure for December was corrected sharply upward, data showed on Friday.According to regular data compiled by the economy ministry, factory output increased 1.0 percent in December corrected for seasonal factors, far higher than the 0.1 percent announced initially.In January, the figure climbed 0.6 percent compared to the previous month, better than the 0.4 percent consensus forecast published by financial services firm FactSet. Analyst ...

Volkswagen to announce $1bn investment in Mexico MEXICO CITY: German carmaker Volkswagen will next week announce an investment worth around $1 billion in Mexico to expand its Puebla plant, a person familiar with the matter said on Thursday.The investment, aimed at production of the carmaker's Tiguan compact, is due to be unveiled on Monday and is expected to generate about 1,900 jobs, the person said.As of December, total investment in the auto sector in Mexico had reached $19 billion under President Enrique ...

Bond prices mostly flat ahead of US jobs report NEW YORK: US Treasuries prices were mostly flat on Thursday as traders awaited Friday's closely watched US jobs report for hints on when the Federal Reserve will hike interest rates from current rock-bottom levels.Trading was muted in anticipation of the February employment report, which economists polled by Reuters expect will show nonfarm payrolls rose by 240,000. That would be down from January's 257,000 increase.Analysts said a significant improvement in the unemployment rate or wage growth ...

Major banks in US all pass first phase of stress tests WASHINGTON: The 31 largest banks in the United States passed the first phase of regulatory stress tests, the Federal Reserve announced Thursday.But the three leading investment banks Goldman Sachs, JPMorgan Chase and Morgan Stanley were among the worst performers, mainly because of their greater exposures to capital markets.In tests of their strength to withstand a severe economic crisis -- one worse than that of 2008 -- all the banks proved capable of maintaining more than ...

US Fed says will not hold market operations on April 3 NEW YORK: The US Federal Reserve will not conduct open market operations on the Good Friday holiday which falls on April 3 this year, the New York Federal Reserve said on its website on Thursday.The U.S. central bank said in a statement all reverse repurchase agreement and securities lending trades on Thursday April 2 will mature on Monday April 6.The U.S. bond market is recommended to close at noon (1600 GMT) on April 3, according ...


Index Closing Chg%
Arrow DJIA 18,135.72 0.21
Arrow Nasdaq 4,982.81 0.32
Arrow S&P 2,101.04 0.12
Arrow FTSE 6,961.14 0.6
Arrow DAX 11,504.01 1.00
Arrow CAC-40 4,963.51 0.94
Arrow Nikkei 18,751.84 0.26
Arrow H.Seng 24,193.04 1.11
Arrow Sensex 29,448.95 0.23

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 $16.137 bln