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Japan carrier promoted trainee pilot despite worries: govt TOKYO: Japanese transport authorities on Friday ordered a budget airline to boost safety standards after it promoted a trainee to a full-blown pilot despite worries over ability.Air Do, which links Tokyo to cities in Japan's northernmost prefecture of Hokkaido in a tie-up with major carrier All Nippon Airways, was also found lax on aircraft maintenance check-ups.The government said a co-pilot on training at Air Do bungled a landing at Chitose airport in Hokkaido on September 11 by coming in too quickly.The instructor gave a good mark, paving the way for promotion, but when the company examined flight data, the error became apparent. They nevertheless let the trainee's promotion stand."The company's training systems for flight crews is not functioning properly," the transport ministry said in its order to Air Do.The ministry also noted Air Do was found to have put off necessary regular check-ups on aircraft.The company was ordered to submit ...

Takata vows to step up airbag safety effort in open letter TOKYO: Embattled Japanese auto parts maker Takata has published an open letter in major US and German media, vowing to step up its safety record after an airbag crisis hammered the company's reputation.Chairman Shigehisa Takada said his family company understood public concerns and was "saddened" by the deaths of at least five motorists in the US and Malaysia who were allegedly killed after a defective air bag exploded, firing metal shards into the vehicle."Since its ...
Former SpiceJet owner leading rescue plan for ailing Indian carrier NEW DELHI: A former part-owner of India's SpiceJet Ltd is leading a 12 billion rupees ($190.5 million) bailout plan to rescue the budget carrier from collapsing, two Indian newspapers reported on Friday.SpiceJet, India's second largest low-cost airline, ran out of cash this week to pay its creditors, forcing the airline to temporarily ground its fleet when it could not buy in fuel for its planes. Its parent company says it does not have enough money ...
JPMorgan report to outline improved controls-activist BOSTON: JPMorgan Chase & Co will soon issue a report outlining improved controls it has been enacting in the wake of recent missteps, including its role in the 2008 financial crisis, according to a shareholder activist who has seen a draft.The report could add pressure on other banks to show tangible changes to policies after a slew of scandals tainted the industry, according to the activist, Seamus Finn, chair of the board of the Interfaith ...
Apple suppliers accused of poor treatment of workers LONDON: Workers in Chinese factories making Apple products are poorly treated, with exhausted employees falling asleep on their 12-hour shifts, British broadcaster the BBC found in an investigation broadcast Thursday.Reporters who took jobs undercover at the Pegatron factories found workers regularly exceeded 60 hours a week -- more than the company's guidance -- and that standards on ID cards, dormitories, work meetings and juvenile workers were also breached.The broadcaster said promises made by Apple to ...
Apple co-founder Wozniak skeptical on smartwatches, Google Glass SYDNEY: Steve Wozniak says he is no fan of smartwatches and believes Google Glass will fail as he cautioned not to expect the company he co-founded, Apple, to always lead the way into new technologies.The American, who quit Apple in 1987 -- 12 years after creating the technology giant with the late Steve Jobs -- made the comments as he took up Australian residency, with a view to living Down Under permanently.In an interview with ...
Shell sells parts of Norwegian downstream business to Finland's ST1 LONDON: Oil major Shell said on Thursday it had sold parts of its Norwegian downstream business to Finnish fuel firm ST1 for an undisclosed sum, further divesting parts of its downstream activities.ST1 will take over Shell's Norwegian retail, commercial fuels and supply and distribution businesses, while Shell's aviation business in Norway will become a 50-50 joint venture with ST1.The deal is expected to close next year, pending regulatory approval.The sale follows Shell's downstream divestments through ...


Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
Arrow DAX 9,786.96 0.25
Arrow CAC-40 4,241.65 0.18
Arrow Nikkei 17,621.40 2.39
Arrow H.Seng 23,116.63 1.25
Arrow Sensex 27,371.84 0.90

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-2.309 bln
Exports $1.957 bln
Imports $4.266 bln
WeeklyDecember 18, 2014
Reserves $14.04 bln