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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 progress at all in the meeting," the Kaisa executive said. "It's a Central Government order to keep the blockage  so even the Shenzhen government has no means to resolve this on its own."The source said he wasn't at the meeting in person but was briefed on the discussions by those who were.A Kaisa spokeswoman said she wasn't aware of the talks.Kaisa is struggling after a string of senior executives left unexpectedly and authorities blocked ...

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 ...
Qantas drops fuel surcharges, flags positive outlook SYDNEY: Qantas said Tuesday it would remove fuel surcharges from its international flights but keep overall ticket prices the same, as chief executive Alan Joyce added that the fall in petrol prices was helping the airline's bottom line.The move means base prices will rise to absorb the surcharges, although the Australian flag carrier's frequent flyer passengers will benefit from the restructured fares when they redeemed points for flights.The focus on global fuel surcharges comes as ...
Carnival eyes new China line for burgeoning cruise market SHANGHAI: Cruise operator Carnival Corp is in talks with state-owned China Merchants Group Ltd (CMG) to develop a new cruise line for the fast-growing China market, the US firm said in a statement on Tuesday.Carnival said the pair has agreed to look into setting up two separate joint ventures to tap into the local cruise business. The Chinese market for cruise travel could nearly double to $11.5 billion in sales by 2018, compared with $6.8 ...
Microsoft profit dips as revenue rises SAN FRANCISCO: Microsoft on Monday reported that its quarterly profit dipped but revenue increased in a sign that it is adapting to lifestyles centered on mobile devices and cloud services.Bright spots during the three-month period ending December 31 included rising sales of Microsoft devices such as Surface tablets, Lumia smartphones, and Xbox One video game consoles.Meanwhile, money made from licensing Windows software to computer makers and businesses slipped as revenue from subscriptions in the cloud ...
Pfizer cuts vaccine price for poor as GAVI group seeks $7.5bn LONDON: Pfizer is to cut the price of its pneumococcal vaccine Prevenar 13 by 6 percent to $3.10 per dose in poor countries as part of a commitment to the GAVI global vaccines alliance, the US drugmaker said on Monday.Pfizer's move comes as GAVI holds a major funding conference in Berlin at which it hopes to raise $7.5 billion from donors to pay for increased deployment of vaccines in the developing world between 2016 and ...
Microsoft profit falls on sluggish Windows demand, tax charge SEATTLE: Microsoft Corp said on Monday fiscal second-quarter profit fell, as sluggish personal computer sales dampened demand for Windows software and the company had a one-time tax expense relating to an audit in the United States.The world's largest software company reported profit of $5.86 billion, or 71 cents per share, compared with $6.56 billion, or 78 cents per share, in the year-ago quarter. Sales rose 8 percent to $26.5 billion, largely due to the acquisition ...


Index Closing Chg%
Arrow DJIA 17,387.21 1.65
Arrow Nasdaq 4,681.50 1.89
Arrow S&P 2,029.55 1.34
Arrow FTSE 6,811.61 0.60
Arrow DAX 10,628.58 1.57
Arrow CAC-40 4,624.21 1.09
Arrow Nikkei 17,768.30 1.72
Arrow H.Seng 24,807.28 0.41
Arrow Sensex 29,571.04 1.00

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