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China Eastern airline says profit up 44pc BEIJING: Chinese airline China Eastern said its net profit rose 44 percent in 2014 from a year earlier, as fuel costs fell and passenger numbers increased.Net profit at the Shanghai based firm was 3.4 billion yuan ($548 million) last year, it said in a statement to the Hong Kong stock exchange on Friday."This result was also primarily due to the continuous improvement of the Group's operating abilities and the decrease of jet fuel prices, as well as adjustments to the retirement benefit policies of our employees," China Eastern said.The number of passengers travelling with the airline rose about six percent to reach nearly 84 million, it added.China Eastern is China's third largest airline, operating 485 passenger airliners and 12 freighters at the end of last year, the South China Morning Post newspaper reported.China's gross domestic product grew 7.4 percent last year, the slowest pace in nearly a quarter of a ...

China to cut 80mn tonnes of steel capacity over 2015-17 BEIJING: China will aim to cut as much as 80 million tonnes of excess steel capacity in the next three years to tackle a massive supply glut that has plunged much of the sector into crisis, a government official said on Saturday.Speaking at an industry forum, Luo Tiejun of the raw materials department of the Ministry of Industry and Information Technology (MIIT) said China would publish a new 2015-2017 action plan to restructure its bloated ...
Lufthansa offers up to 50,000 euros per passenger in Germanwings crash BERLIN: German airline Lufthansa has offered to pay up to 50,000 euros in immediate financial assistance per passenger on the crashed plane of its subsidiary Germanwings, a spokeswoman told Reuters on Friday. Copyright Reuters, 2015 ...
ANA orders three Boeing 787-10 Dreamliners NEW YORK: Japan's All Nippon Airways has ordered three 787-10 Dreamliners, becoming the first airline in Asia to operate all three versions of the high-tech jetliner, Boeing said Friday.The new 787-10 is the largest of the Dreamliner family, capable of carrying 323 passengers up to 13,000 kilometers (8,078 miles), a distance that represents more than 90 percent of the world's twin-aisle routes, according to the US aerospace giant."We are honored to play such an important ...
Chevron seeks to exit Caltex Australia with $3.6bn stake sale HONG KONG/SYDNEY: US energy firm Chevron is seeking to sell its entire stake in Caltex Australia Ltd for about A$4.6 billion ($3.6 billion), exiting Australia's biggest refiner after nearly 40 years as falling oil prices and high costs hurt margins.A successful sale of Chevron's 50 percent stake, which the company is offering at a discount to market prices, would make the deal Asia's largest block transaction after the government of India raised $3.6 billion by ...
India's SpiceJet running short of planes for scheduled flights NEW DELHI: Indian low-cost carrier SpiceJet Ltd will have to cancel more than a fifth of its planned daily flights if it cannot reach an agreement with its lessors to bring in more aircraft by the end of this month, a company spokesman said.SpiceJet, which came close to collapsing in December after running out of cash to pay its creditors, is scheduled to make 280 daily flights from next week.But with its current fleet at ...
Indian airline IndiGo heads towards $400mn IPO as air travel booms MUMBAI/NEW DELHI: India's biggest carrier, IndiGo, is preparing to file documents for a stock listing to raise $300 to $400 million, two sources with knowledge of the plans said, as it looks to cash in on a booming air travel market.IndiGo, owned by hospitality and travel company InterGlobe Enterprises, has remained profitable in the last two years, avoiding much of the turbulence to hit rival Indian carriers.IndiGo has picked Citigroup, Kotak Investment Bank, Morgan Stanley ...


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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 $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln