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Xbox One makes hot debut as console war revs up SAN FRANCISCO: Gamers in more than a dozen countries started snapping up new-generation generation Xbox One consoles Friday as Microsoft battled Sony to be at the heart of Internet age home entertainment.Keenly-awaited Xbox One consoles launched in more than a dozen countries including Australia, France, Britain, Brazil and the United States as day dawned in respective time zones.Xbox fans queued at consumer electronics shops to be among the first to get their hands on Microsoft's beefed up system that extends beyond gaming to online films, music, social networking and more.A man in New Zealand, 24-year-old Dan Livingstone, become the first person in the world to officially own an Xbox One. He said he was immediately retreating for five days to play with it.International time zones meant New Zealand was the first country to launch the console.Australia was next in the global roll out. The distinctive Sydney Tower turned Xbox One ...

Sharp shares soar on China smartphone reports TOKYO: Shares in Japanese electronics maker Sharp soared more than eight percent Friday on reports it was boosting production of smartphone screens bound for China, after ending part of a troubled alliance with Taiwan's Hon Hai.Investors cheered news that the display maker was going to ramp up output of its energy-efficient IGZO panels to go in smartphones produced by Chinese telecom giant ZTE.The volatile stock soared 8.08 percent to 321 yen in the morning session ...

Italy to sell stakes in 8 firms to cut debt ROME: Italy will sell stakes in eight companies including energy giant Eni in a "first packet of privatisations" expected to raise up to 12 billion euros ($16.1 billion), Prime Minister Enrico Letta said on Thursday.The sales are "a first move towards not just keeping the 2014 deficit under control" but also towards cutting Italy's vast public debt "for the first time in five years", Letta said following a cabinet meeting.The state plans to sell up ...

Moody's says no 'clean bill of health' for Spain banks MADRID: International credit rating agency Moody's warned Thursday that Spain's banks still face significant challenges despite nearly completing a 41-billion-euro ($55 billion) eurozone-financed bailout.Spain announced this month it would emerge from the rescue programme in January without seeking further financial aid from the European Stability Mechanism safety net.The news was "credit positive" for investors in Spanish bank debt securities who risked being forced to accept some losses if the banks tapped the ESM for further ...

Jury awards Apple $290m in Samsung patent case SAN JOSE: A US federal jury Thursday ordered Samsung to pay $290 million in damages to Apple in a partial retrial of the blockbuster patent case involving the two smartphone giants.The award comes instead of $450 million in damages originally awarded in the landmark suit, but thrown out by a judge. It is in addition to nearly $600 million in patent infringement damages upheld from the trial last year.Apple has accused its South Korean rival ...

Acer elects founder as new chairman in reshuffle TAIPEI: Ailing computer maker Acer Inc announced Thursday that it has elected founder Stan Shih as the new chairman after the company announced a restructuring plan earlier this month following several quarters of disappointing earnings. The company said that Shih will take over as chairman and interim corporate president with immediate effect. Current corporate president Jim Wong will step down. The company had said two weeks ago that Wong would succeed J.T. Wang as chief ...

QinetiQ sees commercial business doubling to half of sales LONDON: British technology firm QinetiQ said it expects commercial demand to make up half of its business in the next five years, up from a current 25 percent level, as the company battles declining defence budgets in the US and Europe. QinetiQ, the Ministry of Defence's former research arm, currently generates 75 percent of revenues from defence markets, with the remaining from commercial customers. "Our strategy really defines a growth portfolio beyond defence. In an ...


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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