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Dixons Carphone on track as first half profit jumps 30pc LONDON: Dixons Carphone, the electricals and telecommunications retailer, posted a 30 percent rise in first half profit on the back of market share gains and said it was on track to make expectations for the full year.In August Dixons Retail, Europe's No. 2 consumer electronics retailer, and Carphone Warehouse, Europe's largest independent mobile phone firm, concluded an all-share merger to create Dixons Carphone, a consumer electricals powerhouse with a place in Britain's blue chip FTSE 100 index.The merged firm, which trades as Carphone Warehouse, Currys and PC World in the UK and Ireland, Elkjop and El Gigantti in Nordic countries and Kotsovolos in Greece, said on Wednesday it made a pro forma pretax profit of 78 million pounds ($122.6 million) in the 31 weeks to Nov. 1.The group also posted a 5 percent rise in sales at stores open over a year. Second quarter like-for-like sales were up 9 percent, ...


Turkish central bank to keep tight policy until inflation improves ISTANBUL: The Turkish central bank will keep its monetary policy tight until there is a clear improvement in the inflation outlook, Governor Erdem Basci told a parliamentary commission in a presentation published on Wednesday."The positive impact of macroeconomic measures adopted early this year and the tight stance in monetary policy is observed on core inflation trends," Basci told the parliament's planning and budget commission, according to the presentation.Copyright Reuters, 2014

India's Oct 1-Dec 15 sugar output up 47pc MUMBAI: Indian sugar mills produced 4.2 million tonnes of the sweetener between Oct. 1 and Dec. 15, about 47 percent higher year-on-year as more mills are operational this year, a producers' body said on Wednesday.This year 442 mills in the country started crushing by Dec. 15, compared with 426 last year, the Indian Sugar Mills Association (ISMA) said in a statement.ISMA expects India's 2014/15 sugar output at 25 million tonnes to 25.5 million tonnes compared ...

Saudi Arabia to keep spending on projects, benefits in 2015 budget RIYADH: Saudi Arabia will continue spending on development projects and social benefits in the 2015 budget despite "challenging" international economic conditions, Finance Minister Ibrahim Alassaf was quoted as saying by state news agency SPA on Wednesday.The world's top oil exporter will be able to continue with its counter-cyclical fiscal policy next year and beyond after it reduced public debt and built up reserves, he said according to SPA.Copyright Reuters, 2014

UBS to nominate BlueMountain exec Staley to board ZURICH: UBS said on Wednesday it would nominate Jes Staley, an executive at New York-based hedge fund BlueMountain Capital Management, to the board of the Swiss bank at its May shareholder meeting.Staley is a former long-time executive of US investment bank JPMorgan Chase & Co and one of a host of former bankers who have in recent years moved to roles in private equity, hedge funds and other more lightly regulated corners of high finance, ...

India's SpiceJet parent says cannot invest large sums to revive airline NEW DELHI: The parent of India's loss-making SpiceJet Ltd cannot make large investment into the carrier and can do no more than provide a guarantee for a bank loan needed to keep the airline from collapsing, said Sun Group chief financial officer."We do not have the liquidity to invest large sums at the time which is why we need bank financing. For which the promoters are willing to provide a guarantee. We cannot do more ...

Bank of England's Cunliffe sees little direct exposure to UK from Russia LONDON: Britain has little direct exposure to economic turmoil in Russia, but it is important to weigh up risks to the financial system resulting from the market strife, a senior Bank of England official said on Wednesday.BoE Deputy Governor Jon Cunliffe also said the sharp fall in oil prices was good overall for the global economy and Britain, although policymakers should look beyond one-off effects from energy and food prices."What one needs to watch really ...


 



 
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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