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Dutch govt delays ABN Amro listing over executive pay row AMSTERDAM: The Dutch government said on Friday it had delayed a decision on when to privatise ABN Amro bank over a dispute about executive pay. Finance Minister Jeroen Dijsselbloem's move comes after the bank's supervisory board decided this week to increase the base salaries of most managers.ABN Amro was nationalised during the financial crisis of 2008, ultimately costing taxpayers 24 billion euros ($26 billion).The move to boost salaries of ABN Amro executive board members by 100,000 euros each, except for CEO Gerrit Zalm who took no pay increase, led to a testy debate in parliament, which must approve ABN's listing.The salary increase was technically awarded in 2012 under a previous government and was initially not accepted by the managers. But the reinstatement of the pay rises comes against a backdrop of public disapproval over salaries in the financial industry perceived to be excessive.In February, a law came into effect capping ...

Turkey applies to join China-proposed Asian Investment Bank ISLAMABAD: Turkey has applied to join the Asian Infrastructure Investment Bank (AIIB) as a prospective founding member, the Chinese Ministry of Finance said.The AIIB is an international financial institution providing support to infrastructure projects in Asia. It is expected to be established by the end of this year,a statement, Xinhua reported on Friday.The application deadline for prospective founding members is March 31. Twenty-one countries signed a Memorandum of Understanding (MoU) last October in Beijing on ...

Swiss private bank UBP says to buy RBS's Coutts International ZURICH: Swiss private bank Union Bancaire Privee (UBP) said on Friday it had agreed to buy Royal Bank of Scotland's international private banking arm Coutts International."This acquisition confirms our commitment in further developing our wealth management business and represents a significant milestone in our growth strategy," UBP Chief Executive said in a statement. A spokeswoman for Coutts International said both parties had agreed not to disclose the price of the deal. Britain's Financial Times reported ...

Indian airline IndiGo heads towards $400mn IPO as air travel booms MUMBAI/NEW DELHI: India's biggest carrier, IndiGo, is preparing to file documents for a stock listing to raise $300 to $400 million, two sources with knowledge of the plans said, as it looks to cash in on a booming air travel market.IndiGo, owned by hospitality and travel company InterGlobe Enterprises, has remained profitable in the last two years, avoiding much of the turbulence to hit rival Indian carriers.IndiGo has picked Citigroup, Kotak Investment Bank, Morgan Stanley ...

India may exempt ONGC, Oil India from paying subsidy in March-qtr NEW DELHI: India's state-backed oil producers Oil and Natural Gas Corp Ltd and Oil India Ltd may be exempt from paying subsidies to fuel retailers in the March quarter, a source familiar with the plan said on Friday. India regulates retail prices of liquefied petroleum gas and kerosene to keep prices under check, with producers like ONGC and Oil India selling crude and related products to fuel retailers at a hefty discount to partly compensate ...

China Aviation Oil seeks up to 1.1mn bbls jet fuel for May SINGAPORE: China Aviation Oil (Singapore) is seeking up to 1.1 million barrels of jet fuel for May, a tender document showed on Friday.The company is seeking three cargoes of 240,000 to 300,000 barrels each of the aviation fuel for loading from either South Korea, Japan, Taiwan, Singapore, Malaysia or Thailand for loading over May 1 to 10, May 11 to 20 and May 21 to 31.It is also seeking 25,000 tonnes or about 200,000 barrels ...

Petrobras to shut refinery, exit Japan TOKYO: Brazil's state oil company Petrobras is exiting Japan due to shrinking oil demand, shutting down its refinery in Okinawa as early as this year and building an import terminal it will sell to another refiner, the Nikkei reported on Friday.Petrobras had said as early as 2011 that it would consider selling the 100,000-barrels-per-day (bpd) Nishihara refinery on the southwest Japanese island of Okinawa to focus on the development of its domestic offshore oil discoveries.But ...


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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 $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln