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China auto firm BYD recovers partially after 40PC plunge HONG KONG: Shares in Chinese car maker BYD, which plunged almost 30 percent in the previous session amid speculation about its business outlook, recovered partially in Hong Kong Friday after it moved to quash the rumours.The firm, which is backed by US billionaire Warren Buffett, ended up 14.17 percent at HK$28.60 in the afternoon Friday after it issued a statement denying talk that the investment icon intended to sell a large part of his stake.The rumour was one of several late on Thursday as the firm plunged as much as 47 percent at one point before paring the losses to end down 29 percent.Reports also said it had been hit by huge foreign exchange losses from its businesses in Russia -- where the ruble is being hammered -- that large fund investors were pulling out and that orders for its electric buses had tumbled.However, in a statement to the Hong ...


Nissan gaining Russia market share, less hurt than peers by rouble fall: CEO TOKYO: Japanese automaker Nissan Motor Co is faring better than peers in Russia as domestic production via an alliance with the country's biggest auto firm shields it against the rouble's plunge, Chief Executive Carlos Ghosn said on Friday. The Russian currency has plunged by about 50 percent against the dollar so far this year, raising questions for global auto makers operating in the country.Russia is Nissan's fifth-largest market and the Japanese firm's alliance with Renault ...

IMF urges Zambia to resolve tax issues with mining companies LUSAKA: The International Monetary Fund has urged Zambia, Africa's second-largest copper producer, to quickly resolve issues with mining companies over value-added tax refunds and an increase in royalties.Lower world copper prices and the announced shift to a royalty-only mining tax regime with high rates were likely to adversely affect the companies, the IMF said in a statement late on Thursday.Barrick Gold Corp said on Thursday it would suspend operations at its Lumwana copper mine in ...

BOC Aviation adds two more Boeing jets to earlier order spree SINGAPORE: Singapore-based aircraft leasing firm BOC Aviation has finalised an order for two more Boeing 737 jets, adding to the 80 it placed orders for earlier this year to meet booming Asian travel, the two firms said Friday.The two Boeing 737-800 jets are valued at $186 million in total based on 2014 catalogue prices, Boeing and BOC Aviation, owned by the Bank of China, said in a joint statement."Building on our order of 80 737 ...

Japan carrier promoted trainee pilot despite worries: govt TOKYO: Japanese transport authorities on Friday ordered a budget airline to boost safety standards after it promoted a trainee to a full-blown pilot despite worries over ability.Air Do, which links Tokyo to cities in Japan's northernmost prefecture of Hokkaido in a tie-up with major carrier All Nippon Airways, was also found lax on aircraft maintenance check-ups.The government said a co-pilot on training at Air Do bungled a landing at Chitose airport in Hokkaido on September ...

Takata vows to step up airbag safety effort in open letter TOKYO: Embattled Japanese auto parts maker Takata has published an open letter in major US and German media, vowing to step up its safety record after an airbag crisis hammered the company's reputation.Chairman Shigehisa Takada said his family company understood public concerns and was "saddened" by the deaths of at least five motorists in the US and Malaysia who were allegedly killed after a defective air bag exploded, firing metal shards into the vehicle."Since its ...

Former SpiceJet owner leading rescue plan for ailing Indian carrier NEW DELHI: A former part-owner of India's SpiceJet Ltd is leading a 12 billion rupees ($190.5 million) bailout plan to rescue the budget carrier from collapsing, two Indian newspapers reported on Friday.SpiceJet, India's second largest low-cost airline, ran out of cash this week to pay its creditors, forcing the airline to temporarily ground its fleet when it could not buy in fuel for its planes. Its parent company says it does not have enough money ...


 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln