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Allianz posts 3.8pc profits gain in 2014 FRANKFURT: Allianz, Europe's biggest insurer, on Thursday announced a 3.8 percent boost in net profits for 2014 at 6.2 billion euros.The increase, led by strong performances in the damage and health insurance divisions, was up from 6.0 billion euros the previous year, the German company said in a statement.The result was slightly lower than predicted by analysts.The company said that it expected operating earnings this year to weigh in at between 10-10.8 billion euros, in line with 2014 earnings of 10.4 billion euros.Copyright AFP (Agence France-Presse), 2015

Wienerberger posts loss due to known one-off, reiterates outlook VIENNA: Wienerberger, the world's leading brick-maker, posted a 2014 net loss of 170 million euros ($193 million) due to one-off charges, but is cautiously optimistic about growth in Europe and the United States this year, it said on Thursday.Earlier this month, Wienerberger reported non-cash, one-off hit of 208 million euros, mainly in the United States.The Austrian company reiterated its target to reach earnings before interest, tax, amortisation and depreciation (EBITDA) of 350 million euros in ...

Chinese rivals snap at Alibaba's heels in cross-border e-commerce race SHANGHAI: A Chinese government push to promote e-commerce has created a host of online retail rivals for Alibaba Group Holding Ltd and Inc catering to shoppers' fears about the quality and safety of local everyday goods.Logistics firms have been encouraged by tax-relief programmes and other policies that gained traction last year. Several, including SF Express and state-owned Sinotrans , have jumped into a field dominated by Inc , Alibaba's biggest rival, which boasts ...

Thailand to hold 4G auction in Sept, as scheduled BANGKOK: Thailand will hold an auction for fourth-generation (4G) mobile spectrum in September as scheduled and the industry's regulator will be in charge of the bidding process, deputy prime minister Pridiyathorn Devakula said on Thursday.Pridiyathorn's comment came after local media reports that the planned auction will be postponed further, which led to a selloff in shares of leading mobile operators Advanced Info Service and Total Access Communication.The military government had suspended an auction for 4G ...

UAE's Etisalat Q4 profit jumps 45pc, below forecast DUBAI: Etisalat reported a 45 percent jump in fourth-quarter profit on Thursday as the United Arab Emirates firm's acquisition of a majority stake in Maroc Telecom bolstered its bottom line, but it missed analysts' forecasts.The former telecommunications monopoly, which operates in 19 countries across the Middle East, Africa and Asia, made a net profit of 2.10 billion dirhams ($572 million) in the three months to Dec. 31.This compares with a profit of 1.45 billion dirhams ...

Indonesia's Pertamina may shut refineries to cut costs, increase imports JAKARTA: Indonesian state-owned energy company Pertamina is considering closing some of its older refineries where the fuel produced is proving to be more than 10 percent more expensive than imports, a company director told reporters on Thursday. "Based on our calculations, we profit from imports, but production from our refineries makes a loss because the cost of production is very high," Marketing Director Ahmad Bambang said."We are analysing this - how would we go about ...

India's railway budget to signal road to reform NEW DELHI: India's railway budget, to be presented later on Thursday, will signal the direction of long-term reforms needed to revamp the world's fourth-largest rail network, its minister said."The budget will set the direction of long and difficult road of reform," Suresh Prabhu told state-run broadcaster DD News ahead of his budget presentation.India's decrepit state-run train services stand to receive at least a 25 percent boost in investment to over $9 billion, funded solely by ...


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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