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Novartis Japan hit with suspension over side-effect reporting TOKYO: Japanese health authorities said on Friday that they have ordered the local unit of Swiss pharmaceutical giant Novartis to temporarily suspend its operations for failing to report drug side effects.The health ministry's 15-day suspension -- reportedly a first for a pharmaceutical firm operating in Japan -- means the company will not be able to sell most of its drugs during that period, which is to start from March 5.Tokyo-based Novartis Pharma K.K. in December admitted it failed to promptly report more than 3,000 cases of adverse effects from about two dozen company drugs. Drugmakers are required to report serious side effects to the ministry within 15 to 30 days.The Novartis unit declined to comment when contacted by AFP on Friday.The penalty marks the latest headache for the drugmaker in Japan.In July it was handed a business improvement order for failing to properly report side effects of two leukaemia drugs.Also ...

Alibaba's online payment firm Ant Financial eyes 2017 IPO SHANGHAI: Ant Financial Services Group, Alibaba's affiliate which runs online payment platform Alipay, is seeking to raise up to $4 billion in a private placement of shares and is looking at a domestic IPO in 2017, the state-run Shanghai Securities News reported.Alipay, China's most widely used online payment platform, is seen as a crucial part of Alibaba Group Holding Ltd's business, which ranges from e-commerce to entertainment.Ant Financial is currently valued at between $35 billion ...
Kenya's BAT says FY 2104 pretax profit up 11pc NAIROBI: British American Tobacco Kenya's full year 2014 pretax profit jumped 11 percent to 6.1 billion shillings ($66.8 million), helped by increased export and domestic sales, the company said on Friday. The firm, East Africa's biggest cigarette maker that is majority owned by British-based group British American Tobacco Plc, said its total turnover rose to 34.12 billion shillings from 31.92 billion shillings. Its earnings per share rose to 42.55 shillings from 37.24 shillings the previous ...
Kenya's Unga Group half-year profit rises 59pc NAIROBI: Kenyan flour miller Unga Group Ltd posted a 59 percent jump in half-year profit before tax, mainly due to increased capacity brought by a new wheat mill and proceeds from the sale of its stake in a packaging firm, Bullpark Ltd.The miller said the weakening of the Kenyan and Ugandan shillings against the dollar resulted in foreign exchange related losses."Manufacturing overheads and competitive pressure remained high," the company added in a statement.The consumer and ...
Shinsegae Group says decides not to bid for Kumho Industrial SEOUL: South Korean retail giant Shinsegae Group said on Friday would not bid for a majority stake in Kumho Industrial Co Ltd, the parent of Asian Airlines Inc, without indentifying a reason for the change in plan.On Thursday, Shinsegae Co Ltd said its parent has submitted a letter of intent to buy the stake in Kumho Industrial, which owns 30.1 percent of South Korea's second-biggest airline.Around six parties including Seoul-based private equity firms MBK Partners ...
Motorcycle maker Yamaha to launch small cars in Europe TOKYO: Japanese motorcycle giant Yamaha will join the four-wheel market by launching small cars in Europe as early as 2019 to meet rising demand for energy-efficient vehicles, a company official said Friday.The firm has been mulling manufacturing four-wheel vehicles for years, exhibiting a prototype 1,000 cc engine car and an electric-car battery at the 2013 Tokyo Motor Show.Yamaha is planning to build car plants in Europe to sell them in the region before 2020, the ...
Australia, Thales deal on 'world first' air traffic control SYDNEY: Australia on Friday said it will partner with French industrial giant Thales to develop a "world first" joint civilian-military air traffic control system that could help track MH370-type incidents.The "OneSky" system will replace Australia's current civilian system which dates from the late 1990s and was also developed by Thales, the government said."This programme will make Australia the first country in the world to commission an integrated joint civil-military air traffic management system," Defence Minister ...


Index Closing Chg%
Arrow DJIA 18,132.70 0.45
Arrow Nasdaq 4,963.53 0.49
Arrow S&P 2,104.50 0.30
Arrow FTSE 6,946.66 0.04
Arrow DAX 11,401.66 0.66
Arrow CAC-40 4,951.48 0.83
Arrow Nikkei 18,797.94 0.06
Arrow H.Seng 24,823.29 0.32
Arrow Sensex 29,220.12 1.65

ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln