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Thai tycoon to spin off F&N's property unit, eyes REIT SINGAPORE: Thai billionaire Charoen Sirivadhanabhakdi took the first step that would help combine Fraser and Neave with his own business empire, as he puts his stamp on the 130-year old company that he acquired for $11 billion earlier this year.Fraser and Neave announced on Tuesday it will list shares in its property arm, Frasers Centrepoint Ltd, on the Singapore Exchange this year.F&N will keep the food and beverage as well as the publishing and printing businesses.Frasers Centrepoint, which has total assets of S$10.5 billion ($8.21 billion), will focus on residential and commercial property development in Singapore, China and Australia.It may also acquire or asset manage some of Charoen's hotels outside Thailand, and is exploring management services and property development within Thailand.The company also said it is evaluating a hospitality real estate investment trust (REIT), which sources have told Reuters are part of the Thai tycoon's plan to merge some of ...

Indonesia central bank calls new board meeting JAKARTA: Indonesia's central bank board will meet on Thursday in an unexpected move amid widespread speculation that it may soon have no choice but to raise interest rates again to defend the fast falling rupiah, now at its lowest since April 2009.Indonesia's financial markets have been savaged by the wider turmoil hitting emerging markets on fears that the US Fed will soon start cutting back on what has been years of cheap funds heading to ...

British MPs push Osborne for RBS break-up LONDON: British lawmakers on Tuesday urged finance minister George Osborne to speed up plans to spin off the state-rescued Royal Bank of Scotland into "good" and "bad" banks.In a letter to the Financial Times, the Parliamentary Commission on Banking Standards said it was "important for all the options for (RBS's) future structure to be examined as a matter of urgency".Chancellor of the Exchequer Osborne has ordered a report to weigh up splitting the bank into ...

Japan's ANA to buy 49pc stake in Myanmar airline: report TOKYO: Japan's ANA Holdings will acquire a 49 percent stake in a Myanmar airline, the latest foray into a potentially lucrative market that is rapidly opening up, reports said Tuesday.ANA Holdings intends to obtain the maximum portion allowed under local law as part of a plan to expand its network in Southeast Asia by using Myanmar as a hub, the Nikkei business daily said.The company -- the parent of major airline All Nippon Airways (ANA) ...

China Internet hit by 'largest ever' attack BEIJING: China has been hit by the "largest ever" attack on its Internet structure, crashing the country's .cn servers, according to a government-linked agency.The national domain name resolution service came under a distributed denial of service (DDoS) attack for around two hours early on Sunday, the China Internet Network Information Centre (CNNIC) said in a statement.Domain name resolution is a key part of how the Internet works, converting a website name into a set of ...

Thai central bank says can handle fund outflows, will act on baht if needed BANGKOK: Thailand's central bank said on Tuesday it was not worried about fund outflows as the country had sufficient foreign reserves and that it would let the baht move in line with market forces but would act on excessive moves."From our assessment, we have enough reserves at the moment to cover outflows and maintain economic growth including imports. So this is not an issue at the moment," Bank of Thailand Deputy Governor Pongpen Ruengvirayudh told ...

India approves mega projects to boost confidence NEW DELHI: India's cabinet has approved infrastructure projects worth 1.83 trillion Indian rupees ($28.38 billion), Finance Minister P. Chidambaram said on Tuesday, part of a government drive to fast-track clearances and win back investor confidence.A cabinet panel cleared 18 power projects at a cost of 830 billion rupees, Chidambaram told a news conference. Copyright Reuters, 2013


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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 $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln