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Aer Lingus board recommends $1.5bn offer from BA-owner IAG DUBLIN: The board of Irish airline Aer Lingus has recommended a raised 1.36-billion-euro ($1.5 billion) takeover offer from the owner of British Airways, which must now soothe Irish government concerns to win approval.The new offer from International Consolidated Airlines Group (IAG), its third in six weeks, is worth 2.55 euros per share, up from 2.40 euros, and includes a cash offer of 2.50 euros per share and a dividend of 0.05 euros.Aer Lingus said its recommendation is subject to being satisfied with how IAG proposes to address the interests of relevant parties, including its main shareholders budget airline Ryanair and the Irish state.The Irish government had sought to sell its 25 percent stake as part of the country's 2010 bailout by the European Union and International Monetary Fund but postponed the plan.It is now facing mounting political pressure from the two main opposition parties, as well as the airline's trade ...

Philips 'setback' as 2014 profits slashed by two-thirds THE HAGUE: Dutch electronics giant Philips on Tuesday announced profits slashed by almost two-thirds after a "challenging" 2014, blamed on ever-slowing markets in China and Russia and unfavourable exchange rates.Annual net profit tumbled from 1.17 billion euros in 2013 to 411 million euros ($462 million), the company said in a statement, after issuing a profit warning on January 13.Sales in 2014 dropped 2.7 percent to 21.39 billion euros, said Philips, which has diversified into high-margin ...
Facebook, Instagram access restored after disruption WASHINGTON: Full access to Facebook and Instagram have been fully restored after users suffered disruptions on Tuesday, Facebook said in a statement.The problem was caused by "a change that affected our configuration systems," the statement said, adding that hacking was not involved.Copyright AFP (Agence France-Presse), 2015 ...
Siemens confirms 2015 outlook, Q1 in line with expectations FRANKFURT: German engineering giant Siemens said Tuesday it is sticking to it full-year outlook after business in the first quarter was in line with expectations."The performance of most of our businesses was within our expectations," said chief executive Joe Kaeser."While some divisions provided excellent performance, healthcare needs to step up its efforts to quickly resume to its outstanding performance and power and gas will need a more comprehensive concept to return to historical margins longer ...
Li Ka-shing buys way to European telco credibility HONG KONG: Li Ka-shing may soon be able to set a new tone for his problematic telecom investments. The Asian magnate's talks over buying the 02 UK mobile unit of Spain's Telefonica for 10.3 billion pounds ($15.4 billion) could see him effectively doubling down on a business that struggled for years, but if the deal comes off it should provide Li with enough scale to move forwards.Hutchison Whampoa's European 3G adventures started in earnest after ...
Kaisa's talks with Shenzhen govt to unblock sales at deadlock HONG KONG: Troubled Chinese property developer Kaisa Group failed to remove a local government block on sales at its Shenzhen projects after a meeting with local officials on Monday ended without progress, a company source familiar with the talks said.Kaisa's top executives held a high-level meeting with senior Shenzhen government officials on Monday afternoon in the Longgang district in northern Shenzhen, where two of Kaisa's new projects are blocked, according to the source."There was no ...
Irish carrier Aer Lingus accepts IAG takeover bid LONDON: Irish carrier Aer Lingus on Tuesday backed a 1.35-billion-euro ($1.51-billion) takeover offer from International Airlines Group, parent of British Airways and Iberia.Aer Lingus announced in a statement that its board was "willing to recommend" IAG's improved proposal -- its third since December -- subject to certain conditions.The Dublin-based airline announced the news one day after revealing that IAG had submitted a third takeover proposal worth 2.55 euros per share, comprising 2.50 euros in cash ...


Index Closing Chg%
Arrow DJIA 17,678.70 0.03
Arrow Nasdaq 4,771.76 0.29
Arrow S&P 2,057.09 0.26
Arrow FTSE 6,852.40 0.29
Arrow DAX 10,798.33 1.40
Arrow CAC-40 4,675.13 0.74
Arrow Nikkei 17,468.52 0.25
Arrow H.Seng 24,909.90 0.24
Arrow Sensex 29,278.84 0.94

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 25, 2015
Reserves $15.019 bln