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China graft watchdog probes another exec at Chinese car maker BEIJING: China's anti-graft watchdog has said it is investigating a former senior executive at FAW Group Corp. for corruption, the latest target in a widening probe against the company.State-owned FAW has a joint venture with Volkswagen AG . The joint venture is one of the two car-making ventures the German automaker has in China.An Dewu, FAW's former deputy general manager, was investigated for "suspected serious violations of the law", the ruling Chinese Communist Party's discipline watchdog said late on Friday.The brief report did not give any details of the investigation. In China, the term "serious violations of the law" can be used to denote corruption. It was not possible to contact An or any of his representatives.Officials at FAW could not be reached for comment. Li Pengcheng, a spokesman for FAW-Volkswagen, said he "does not know" anything about the investigation and referred all queries to FAW.The investigation into An was ...

China's Alibaba plans IPO for week of September 8: WSJ NEW YORK: Chinese e-commerce giant Alibaba plans to hold its initial public offering on the US stock market the week of September 8, the Wall Street Journal reported Saturday, citing a person familiar with the matter. The shares would then start trading as early as September 18 or 19, the source told the business daily. Alibaba will list its shares on the New York Stock Exchange under the trading symbol "BABA," the company has said ...
Intel hires senior Qualcomm exec to boost mobile business SAN FRANCISCO: Chipmaker Intel Corp has hired Amir Faintuch, a senior executive at rival Qualcomm Inc, to step up efforts in mobile and Internet-connected gadgets. Hiring a senior executive from a major competitor is rare for Intel, which is known in Silicon Valley for its insular culture, and it reflects the eagerness of the Santa Clara, California, chipmaker to improve its struggling mobile business. Faintuch, who previously oversaw Qualcomm's networking and connectivity businesses as president ...
Microsoft will not hand over overseas email, despite order NEW YORK: A judge on Friday lifted a suspension on her order directing Microsoft Corp to turn over a customer's emails stored overseas to US prosecutors, but the software company said it would not release any emails while it appeals the ruling. Chief Judge Loretta Preska of the US District Court in Manhattan had on July 31 upheld a magistrate judge's ruling on the emails, which have been held in a data center in Ireland. ...
Codelco output rises but lower copper price eats into profit SANTIAGO: Codelco, the world's No. 1 copper producer, on Friday reported a rise in its first-half production, largely due to the contribution of a new mine, but a slide in the market price of copper metal eroded profits. The Chilean state-run company said it produced 788,000 tonnes of copper in the January to June period, a 4 percent rise from 2013.Improved ore grades and volumes at century-old Chuquicamata boosted production 26,000 tonnes, while new mine ...
Fiat signals Chrysler merger on track MILAN: Fiat signalled its merger with US affiliate Chrysler was on track on Friday as a tally of shareholders suggested most had chosen not to exercise an option that could derail the plan, a vital step in the Italian carmaker's turnaround efforts. Chief Executive Sergio Marchionne wants to incorporate the two carmakers into a Dutch-registered company called Fiat Chrysler Automobiles (FCA), paving the way for a US stock market listing that would help fund an ...
AstraZeneca boosted by start of new cancer drug trial LONDON: Hopes for AstraZeneca's promising cancer drug pipeline were boosted on Friday by news the company had moved its immuno-oncology medicine MEDI-4736 into a mid-stage study in colorectal cancer. Analysts at UBS said the decision opened up "a potentially multi-blockbuster opportunity", given that colorectal cancer is the third leading cause of cancer-related deaths in the United States.AstraZeneca is already studying MEDI-4736 in lung cancer and head and neck cancer. Head of medicines development Briggs Morrison ...


Index Closing Chg%
Arrow DJIA 17,098.45 0.11
Arrow Nasdaq 4,580.27 0.50
Arrow S&P 2,003.37 0.33
Arrow FTSE 6,819.75 0.20
Arrow DAX 9,470.17 0.08
Arrow CAC-40 4,381.04 0.34
Arrow Nikkei 15,424.59 0.23
Arrow H.Seng 24,742.06 0.01
Arrow Sensex 26,638.11 0.29

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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.311 bln
Exports $2.027 bln
Imports $4.338 bln
WeeklyAugust 28, 2014
Reserves $13.582 bln