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BASF meets targets but sees 'uncertain' year in 2015 LUDWIGSHAFEN: German chemicals giant BASF said on Friday it met its 2014 earnings targets but the outlook for 2015 was uncertain in view of volatile oil prices and currency developments."We achieved our goal for 2014: we increased earnings, despite the disappointing economic development in Europe," chief executive Kurt Bock told the group's annual earnings news conference."We grew profitably. We further strengthened our chemicals business and in turn improved our margins," Bock said. BASF said its net profit grew by 7.6 percent to 5.155 billion euros ($5.8 billion) in 2014. Underlying or operating profit was up 6.5 percent at 7.626 billion euros while sales edged up 0.5 percent to 74.326 billion euros. BASF said it planned to increase its dividend to shareholders to 2.80 euros per share for 2014 from 2.70 euros a year earlier. Turning to the current year, BASF chief executive Bock said the outlook for 2015 was "subject ...

Turkey secures 10pc discount on Russian gas ANKARA: Turkey has secured a discount of more than 10 percent in the price of it pays natural gas it imports from Russia, but the weakness of the lira means consumers won't see any change in their bills, the energy minister said Friday.Russian energy giant Gazprom and Turkey's state-owned pipeline company Botas have finalised negotiations and "the latest point we reached yesterday is 10.25 percent reduction," Turkish Energy Minister Taner Yildiz said in televised remarks.Turkey ...
China issues 4G FDD licences to China Telecom, China Unicom BEIJING: China has issued licences to operate 4G wireless networks to China Telecom Corp Ltd and China Unicom Hong Kong Ltd, two of the country's three carriers, the Ministry of Industry and Information Technology said on Friday.China's largest carrier, China Mobile Ltd, has enjoyed explosive growth in 4G subscribers since its own licence was approved in late 2013. It said it had close to 107 million subscribers to the network at the end of January.Copyright ...
Singapore Exchange names new chief regulatory officer SINGAPORE: Singapore Exchange Ltd (SGX) on Friday said Richard Teng was stepping down as chief regulatory officer, and that the head of Singapore's white-collar crime police, Tan Boon Gin, would be his replacement, effective June 15. Tan is currently director of Singapore's commercial affairs department. Yeo Lian Sim, special adviser to SGX and previously chief risk and regulatory officer, will fill the position in the interim from March 1.The announcement follows news that Chief Executive ...
Mazda bets on diesel-only car for Japan launch of key 2015 model TOKYO: Japan's Mazda Motor Corp will sell only diesel-powered cars in the domestic launch of its key model for 2015, gambling it can convince the country's army of hybrid petrol-electric drivers that the days of sooty, noisy diesels are long gone.Masamichi Kogai, Chief Executive of Japan's fifth-biggest auto maker, placed his diesel bet in Tokyo on Friday as he unveiled the CX-3, a compact sport-utility vehicle (SUV)."In Japan, more and more people are choosing to ...
Airbus says studying A320 production ramp-up beyond 50/month MUNICH: Airbus Group is studying whether to increase its production rate for the A320 family single-aisle jet to beyond 50 per month, contemplating rates of 60 or more, its chief executive said on Friday."The demand is clearly there to move the rates to 60-plus," Tom Enders told journalists. "There are studies underway."Airbus announced on Friday it would move production of the A320 to 50 from 2017 as it unveiled stronger than expected 2014 results.Industry sources ...
Airbus profits take off in 2014, no turbulence seen in 2015 MUNICH: Airbus Group said Friday its net profit soared 59 percent in 2014 thanks to record deliveries of passenger jets and that it expects revenue and operating profits to climb further this year.The company, best known for its passenger jets, chalked up a net profit of 2.34 billion euros ($2.6 billion), which would have been even better had it not been for a provision of 551 million euros for delays to its A400M military transport ...


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