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Glencore to close Australian West Wallsend coal mine in 2016 MELBOURNE: Glencore Plc has decided to close its West Wallsend underground coal mine in Australia in 2016, saying poor coal prices meant it would not make sense to extend the life of the mine."Consideration had been given to a number of options to extend the mine's life but a combination of factors, especially coal market and economic conditions, do not support continued operations," the company said in an emailed statement. Copyright Reuters, 2015 ...

Facebook bets on Messenger app, opens it to developers SAN FRANCISCO: Facebook is turning its Messenger application into a platform for e-commerce, video and more in a bid to shake up online communication.Facebook co-founder Mark Zuckerberg unveiled Messenger Platform, describing it as a way for software developers to boost appeal to the more than 600 million people using the application."We think this service has the potential to allow people to express themselves in new ways... and to be an important communication tool for the ...
Airbus raises $1.8bn with sale of 17.5 Dassault Aviation stake PARIS: Airbus Group sold a further 17.5 percent stake in business and fighter jet maker Dassault Aviation on Wednesday as it unwinds its 16-year-old link to its defence market rival. After the sale of around 1.61 million ordinary shares that raised 1.64 billion euros ($1.80 billion), Airbus' stake will drop to about 24.6 percent from 42 percent. Airbus began cutting its stake in November and said at the time it would make its "best efforts" ...
India raises $17.6 billion on record spectrum auction MUMBAI: India raised a record $17.6 billion during intense bidding on a government auction of mobile phone airwaves which ended Wednesday, as analysts warned of price hikes for subscribers.Communications and IT minister Ravi Shankar Prasad said total bids of 1.1 trillion rupees ($17.6 billion) had been received during the 19-day auction of wireless spectrum in one of the world's largest smartphone markets.The battle among eight mobile phone carriers, including market leaders Vodafone, Bharti Airtel and ...
Ford recalls over 220,000 vehicles in North America for 3 issues DETROIT: Ford Motor Co said on Wednesday it is recalling more than 220,000 vehicles in North America for potential issues with door handles, vacuum pump relays and sensors.The No. 2 U.S. automaker said it is recalling 212,911 Ford Explorer SUVs and Ford Police Interceptor utility vehicles from model years 2011 to 2013 because a spring that controls the interior door handle may become loose and cause the door to become unlatched in a side-impact crash, ...
Taiwan's Acer swings to profit after three years of losses TAIPEI: Taiwan's struggling personal computer maker Acer said Wednesday it turned a profit in 2014 following three successive years of net losses.The company recorded a net profit of Tw$1.79 billion ($56.46 million) last year but revenues fell by 8.5 percent to Tw$329.68 billion.In the fourth quarter it recorded a net profit of Tw$654 million, a dramatic turnaround from the fourth quarter of 2013 when it suffered a net loss of Tw$7.63 billion."The results show that ...
Rosneft cancels rig contract with North Atlantic Drilling OSLO: Russian oil firm Rosneft has cancelled a contract for a two-and-a-half year rig contract with Northern Offshore and Seadrill's North Atlantic Drilling Ltd, the Norwegian offshore driller said.Western sanctions against Russia, and Rosneft in particular, have led the Russian oil group to cancel a North Atlantic Drilling vessel earlier this month and raised concerns whether a larger agreement would go through..The contract, worth about $150 million, was for Northern Offshore's jack-up rig, Energy Endeavour, ...


Index Closing Chg%
Arrow DJIA 17,678.23 0.23
Arrow Nasdaq 4,863.36 0.27
Arrow S&P 2,056.15 0.24
Arrow FTSE 6,895.33 1.37
Arrow DAX 11,843.66 0.18
Arrow CAC-40 5,006.35 0.29
Arrow Nikkei 19,471.12 1.39
Arrow H.Seng 24,497.08 0.13
Arrow Sensex 27,457.58 2.33

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ICT 2014

Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-999 mln
Exports $2.064 bln
Imports $3.063 bln
WeeklyMarch 13, 2015
Reserves $16.273 bln