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Hitachi says bid for Finmeccanica train-making, signal assets TOKYO: A senior Hitachi Ltd executive confirmed the company has bid for Italian conglomerate Finmeccanica's train-making and rail signal assets.Finmeccanica is selling its loss-making, train-making unit AnsaldoBreda along with its 40 percent stake in rail signaling company Ansdaldo STS and said last month that Hitachi had made an offer.Hitachi has bid for both businesses as a package, Chief Operating Officer Toshiaki Higashihara told reporters on Wednesday.He declined to comment on details such as price although the Nikkei business daily previously reported that the offer was likely worth around around $1.7 billion.Finmeccanica said on Tuesday it had received an offer from the Chinese group Insigma for AnsaldoBreda. Copyright Reuters, 2014 ...

EU clears Lufthansa outsourcing deal with IBM FRANKFURT: The European Commission said on Wednesday it had approved the sale of Lufthansa's IT infrastructure unit to IBM.Lufthansa was seeking a buyer for the unit, which provides data centres, networks and telephony, because it requires a high level of investment and economies of scale, which the airline could not provide."The Commission concluded that the proposed acquisition would not raise competition concerns given the very limited overlaps between the parties' activities and the presence of ...
Dutch Philips to buy US-based Volcano in $1.2bn deal THE HAGUE: Dutch electronics giant Philips announced Wednesday it was buying US-based medical imaging company Volcano for $1.2 billion, as it sought to strengthen its hold on the high-margin healthcare technology market."Philips is to acquire Volcano for $18 per share (with) a total transaction value of $1.2 billion (962 million euros)," the Amsterdam-based Philips said in a statement.The agreement to buy the San Diego-based Volcano, which makes catheter-based imaging and advanced blood flow measuring equipment, ...
Dixons Carphone on track as first half profit jumps 30pc LONDON: Dixons Carphone, the electricals and telecommunications retailer, posted a 30 percent rise in first half profit on the back of market share gains and said it was on track to make expectations for the full year.In August Dixons Retail, Europe's No. 2 consumer electronics retailer, and Carphone Warehouse, Europe's largest independent mobile phone firm, concluded an all-share merger to create Dixons Carphone, a consumer electricals powerhouse with a place in Britain's blue chip FTSE ...
India's Oct 1-Dec 15 sugar output up 47pc MUMBAI: Indian sugar mills produced 4.2 million tonnes of the sweetener between Oct. 1 and Dec. 15, about 47 percent higher year-on-year as more mills are operational this year, a producers' body said on Wednesday.This year 442 mills in the country started crushing by Dec. 15, compared with 426 last year, the Indian Sugar Mills Association (ISMA) said in a statement.ISMA expects India's 2014/15 sugar output at 25 million tonnes to 25.5 million tonnes compared ...
UBS to nominate BlueMountain exec Staley to board ZURICH: UBS said on Wednesday it would nominate Jes Staley, an executive at New York-based hedge fund BlueMountain Capital Management, to the board of the Swiss bank at its May shareholder meeting.Staley is a former long-time executive of US investment bank JPMorgan Chase & Co and one of a host of former bankers who have in recent years moved to roles in private equity, hedge funds and other more lightly regulated corners of high finance, ...
India's SpiceJet parent says cannot invest large sums to revive airline NEW DELHI: The parent of India's loss-making SpiceJet Ltd cannot make large investment into the carrier and can do no more than provide a guarantee for a bank loan needed to keep the airline from collapsing, said Sun Group chief financial officer."We do not have the liquidity to invest large sums at the time which is why we need bank financing. For which the promoters are willing to provide a guarantee. We cannot do more ...

 



 
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ICT 2014


Annual2013/14
Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
MonthlyOctober
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 15, 2014
Reserves $13.922 bln