Just in:  

You are here: Home»Business


Volkswagen to recall 80,000 Audis; 35,000 in China BEIJING: German car maker Volkswagen AG will recall 80,000 cars from its luxury division Audi due to issues with the fuel injection system, Audi said on Saturday, adding that around 35,000 of the affected vehicles are from China.The cars were made between April 2011 and April 2012, and "in rare cases customers may notice a smell of fuel in affected vehicles," Audi said in an e-mailed statement.China is Audi's biggest market. But on Tuesday official data showed the world's second-largest economy grew at its slowest pace in 24 years in 2014, even as luxury sales have been hamstrung by a crackdown on official corruption and lavish spending.China's official Xinhua news agency, citing the country's quality watchdog, reported that Volkswagen's local joint venture, China FAW-Volkswagen Automotive Co Ltd, will begin the recall on March 20, affecting various Audi A4, A5, A6, A7 and Q7 models.Copyright Reuters, 2015

ECB's Mersch: German reservations reflected in QE's 'small print' BERLIN: European Central Bank Executive Board member Yves Mersch said in an interview published on Saturday that Germany's reservations about ECB bond-buying were reflected in the "small print" of the plan to pump fresh cash into the ailing euro zone economy."German reservations are taken into account fully, though perhaps only when you read the small print," he told Germany's Neue Osnabruecker Zeitung.Mersch, honing in on one of Germany's main worries about the Quantative Easing plan ...

Hyundai, Kia target 8pc rise in 2015 China sales SEOUL: Hyundai Motor and sister company Kia Motors aim to boost their China sales by 8 percent to 1.99 million vehicles this year, the South Korean duo said on Saturday.Last year the pair lifted their China sales by 10 percent, to 1.84 million vehicles.Copyright Reuters, 2015

Italy central bank chief won't comment on presidential rumours DAVOS: Italian central bank chief Ignazio Visco declined comment on Friday when asked if he would run for the Italian presidency succeeding Giorgio Napolitano who resigned last week, but did not rule it out. Asked at the World Economic Forum in Davos whether he was in line for the largely figurehead role, Visco said in English: "Would you allow me not to answer at all to this question. It is a question which should not ...

Turkish central bank chief sees inflation, real rates falling more ISTANBUL: Turkish inflation and real interest rates are likely to keep falling, central bank governor Erdem Basci was quoted on Friday as saying, days after delivering a rate cut seen as the start of a moderate easing cycle. The central bank lowered its main interest rate on Tuesday but drew a swift rebuke from government ministers who said the 50 basis point cut, five months ahead of a general election, was not enough to support ...

ECB QE plan brings rare Greek market relief LONDON: The European Central Bank's pledge to print new money delivered a rare boost to Greek markets on Friday, as investors heaved a sigh of relief that the country had not been excluded from the landmark scheme. Greek government bond yields tumbled and shares soared on the last trading day before elections that could revive fears over Athens's future in the euro club. The anti-bailout Syriza party is tipped to triumph in Sunday's vote. The ...

Mauritius offers 3-year Treasury bond worth 1.4bn rupees PORT LOUIS: Mauritius will sell 1.4 billion rupees ($42.88 million) worth of a three-year Treasury bond next week, the central bank said on Friday. Bank of Mauritius said in a statement it will receive bids on Jan. 28 and auction the bond on the same day. The bank said the bond will carry a coupon rate of 3.10 percent and is due on Dec. 5, 2017. Copyright Reuters, 2015


Index Closing Chg%
Arrow DJIA 17,652.60 0.79
Arrow Nasdaq 4,757.88 0.16
Arrow S&P 2,051.82 0.55
Arrow FTSE 6,832.83 0.53
Arrow DAX 10,649.58 2.05
Arrow CAC-40 4,640.69 1.93
Arrow Nikkei 17,511.75 1.05
Arrow H.Seng 24,850.45 1.34
Arrow Sensex 29,278.84 0.94

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln