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Sony vows to survive after hackers promise 'gift' CULVER CITY: Sony Pictures vowed Monday that it will not be destroyed by a massive cyber attack, a day after hackers promised a big "Christmas gift" for the Hollywood studio.Staff were called together in Los Angeles to hear how the company is responding to the November 24 hacking attack, which has produced a string of damaging and highly embarrassing leaks."This will not take us down," Sony Pictures chief Michael Lynton told employees, cited by a Sony source, adding: "You should not be worried about the future of this studio."Staff, who applauded their bosses at 20 minute meetings according to the source, declined to comment to AFP as they emerged from company headquarters.The meetings were also addressed by the company's co-chairwoman, Amy Pascal, who apologized again for some of her leaked email comments, according to entertainment industry news website Deadline Hollywood.In those emails Pascal notably made racially insensitive remarks about President ...

Ikea ruffles a few feathers with first Korean store SEOUL: Global furniture giant Ikea opens its first store in South Korea on Thursday, a much-anticipated market entry that has stumbled at a number of commercial and cultural hurdles along the way.Expectations are high for the Swedish firm's 131,550 square-metre (32.5-acre) outlet in the city of Gwangmyeong, south of Seoul, especially among young, urban consumers.Koreans have long lamented a lack of choice in a domestic furniture market often criticised for its overpriced, limited designs. But ...

Hitachi, Switzerland's ABB eye power-transmission tie-up TOKYO: Japan's Hitachi and Swiss engineering giant ABB are close to setting up a joint venture to market power transmission equipment in Japan, as they eye deregulation of the heavily protected sector, a report said Tuesday.The deal would see Hitachi -- which declined to comment on the story -- take a majority stake in the new business and appoint its chief executive, Japan's leading Nikkei business daily reported without citing sources.The news comes as Japanese ...

Russian economy likely to contract early next year MOSCOW: Russia's central bank said on Monday it was likely the economy would contract in the first quarter of next year and that it perhaps by around 4.5 percent in 2015 as a whole if oil prices average $60 a barrel.The bank also said in a monetary policy document that capital outflows in the fourth quarter would rise to levels comparable with those in the first quarter and forecast significant outflows for the next three ...

US bond yields rise as oil market stabilizes NEW YORK: US Treasuries yields rose on Monday as oil prices steadied above five-year lows and revived bids for stocks and risky assets, reducing the safe-haven appeal of US government debt.The yield rise was limited by persistent concerns about weakening growth and inflation globally.Those worries have supported bets the Federal Reserve might consider keeping its pledge to leave short-term interest rates near zero for a "considerable period" in its latest policy statement at the two-day ...

Brazil central bank director urges tighter fiscal policy RIO DE JANEIRO: The Brazilian government needs to tighten fiscal policy to help bring down inflation and strengthen the country's economic framework, central bank director Luiz Awazu Pereira said on Monday.A surge in public spending under President Dilma Rousseff along with record low unemployment have kept inflation high in Brazil, hurting both business and consumer confidence in the once booming economy."Now we need to return to a neutral fiscal balance and create the conditions to ...

Bundesbank says may cut inflation forecast due to oil price FRANKFURT: Germany's Bundesbank said on Monday it would have to cut its 2015 inflation forecast if recent declines in oil prices are sustained.Just 10 days after releasing updated inflation and growth forecasts, the Bundesbank said the Brent crude prices had since fallen 11 percent on average below the forecast assumptions."Such a reduction in the price of crude oil points towards a downward revision of the inflation forecast and an upward revision of the forecast for ...


Index Closing Chg%
Arrow DJIA 17,778.15 2.43
Arrow Nasdaq 4,748.40 2.24
Arrow S&P 2,061.23 2.40
Arrow FTSE 6,466.00 2.04
Arrow DAX 9,811.06 2.79
Arrow CAC-40 4,249.49 3.35
Arrow Nikkei 17,210.05 2.32
Arrow H.Seng 22,832.21 1.09
Arrow Sensex 27,126.57 1.56

ICT 2014

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