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Australia-led group wins $7bn electricity deal over China bid SYDNEY: An Australia-led consortium of investment funds from Canada and the Middle East won the bid for electricity transmission network TransGrid Wednesday, beating a Chinese challenger in a deal worth Aus$10 billion (US$7.3 billion).China's State Grid was considered a frontrunner but the New South Wales state government said the strongest bid belonged to the locally led NSW Electricity Networks consortium."The transaction will deliver gross proceeds of Aus$10.258 billion which will help fund a raft of infrastructure projects across the state," NSW Premier Mike Baird said in a statement.The winning consortium includes Canadian pension fund Caisse de depot et placement du Quebec (CDPQ), the Abu Dhabi Investment Authority's Tawreed Investments Limited, and a wholly owned subsidiary of the Kuwait Investment Authority, Wren House Infrastructure.The consortium is led by investment fund Hastings as manager of Utilities Trust of Australia, while locally listed Spark Infrastructure, which owns and manages energy assets, is also ...

Hilton hotels hit by cyber attack SAN FRANCISCO: US hotel chain Hilton revealed Tuesday that hackers infected some of its point-of-sale computer systems with malware crafted to steal credit card information.Hilton would not disclose whether data was taken, but advised anyone who used payment cards at Hilton Worldwide hotels between November 18 and December 5 of last year or April 21 and July 27 of this year to watch for irregular activity on credit or debit card accounts.Malicious code that infected ...
Easyjet cancels Sharm el-Sheikh flights until new year LONDON: British budget airline Easyjet on Tuesday said it had cancelled all flights to and from the Egyptian resort of Sharm el-Sheikh until next year over security doubts raised by the downing of a Russian jet."You will be aware that over the last few weeks, there have been significant issues associated with flying to and from Sharm el-Sheikh," the airline said in a statement."We can now confirm we will be cancelling all flights to and ...
Kenya's new car sales jump 15pc in first 10 months NAIROBI: Sales of light commercial trucks helped push new vehicle sales in Kenya to 16,711 units in the first 10 months of 2015, 15 percent higher than in the same period last year, the head of the industry's association said on Tuesday.Rita Kavashe, the chairman of the Kenya Motor Industry Association, told Reuters sales of light trucks used to distribute goods and ferry construction materials had grown by 25-30 percent from a year before."The distribution ...
Instagram Challenged There is a new app in town challenging Instagram’s supremacy in picture business. The app going by name Flipagaram, it is a mixture of videos, photos, text and a new thing which is 60 second snippets of hit songs.Farhad Mohit the creator of the app went from facing overnight problems to investor’s selection. Developed in home of Farhad, the app is now riding waves by catching attention of some of the biggest investing firms like ...
VW says it has fixes for 90% of emissions scandal cars in Europe BERLIN: German auto giant Volkswagen, mired in a massive emissions cheating scandal, said Monday that it has found technical solutions for more than 90 percent of the vehicles affected in Europe. The recall process is now viable "technically, financially and in terms of manpower.This is good news," chief executive Matthias Mueller said. "For over 90 percent of the Europe group's vehicles, solutions are now confirmed," he told around a thousand VW executives at the company's ...
Russia central bank withdraws licences from four banks MOSCOW: Russia's central bank said on Tuesday it had withdrawn the licences from four banks for violating banking regulations, part of a long-running campaign to clean up the country's financial sector.The four were Moscow-based Baltica Bank, Svyaznoy Bank and Nota-Bank, and Samara-based Ipozembank. Nota-Bank was in Russia's top 100 banks by assets, while Svyaznoy Bank is the banking arm of one of Russia's largest electronics retailers.Two of the banks, Ipozembank and Baltica Bank, were found ...


Index Closing Chg%
Arrow DJIA 17,798.49 0.08
Arrow Nasdaq 5,127.52 0.22
Arrow S&P 2,090.11 0.06
Arrow FTSE 6,375.15 0.28
Arrow DAX 11,293.76 0.24
Arrow CAC-40 4,930.14 0.32
Arrow Nikkei 19,883.94 0.30
Arrow H.Seng 22,068.32 1.87
Arrow Sensex 26,128.20 0.65

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Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.197 bln
Exports $1.729 bln
Imports $3.926 bln
WeeklyNovember 23, 2015
Reserves $19.713 bln