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Wanda Commercial raises $3.7bn in IPO HONG KONG: Chinese shopping mall developer Dalian Wanda Commercial Properties Co. has raised $3.7 billion in an initial public offering in Hong Kong, a report said Tuesday, making it the biggest in the world by a real estate firm.The company, owned by the property arm of Dalian Wanda Group, sold 600 million shares at HK$48 ($6.19) apiece -- near the higher end of its indicative price range, Dow Jones Newswires said, citing people close to the matter.The sale beats the $2.9 billion IPO of Singapore's Global Logistic Properties in 2010, the newswire said.The Beijing-based company, controlled by Chinese billionaire Wang Jianlin, is one of the world's largest developers of shopping malls, owning dozens across China. Its parent group bought US cinema chain AMC Entertainment Holdings two years ago.The IPO comes at a difficult time for China's property market, where prices have been falling for months and construction rates have been ...

South Korea to punish Korean Air over 'nut rage' SEOUL: South Korea said on Tuesday it could fine Korean Air up to $2 million after the daughter of its chief executive delayed a flight by throwing a tantrum over some nuts.Cho Hyun-Ah, a former senior executive with the flag carrier, forced the chief cabin crew member off a New York-Seoul flight after she took exception to being served macadamia nuts she had not asked for -- and in a bag, not a bowl."We will ...
Fiat Chrysler exports from Brazil to Mexico after more than 3 years SAO PAULO: Fiat Chrysler Automobiles has resumed exports from Brazil to Mexico after a more than three-year hiatus due to weak Brazilian demand and a more favorable exchange rate, Cledorvino Belini, chief executive officer in Latin America, said on Monday. Belini said Fiat's last significant exports of Brazilian cars to Mexico were 15,000 vehicles in 2010. He forecast that Brazil's currency, the real, which has shed 12 percent this year to 2.68 per dollar, would ...
Sony vows to survive after hackers promise 'gift' CULVER CITY: Sony Pictures vowed Monday that it will not be destroyed by a massive cyber attack, a day after hackers promised a big "Christmas gift" for the Hollywood studio.Staff were called together in Los Angeles to hear how the company is responding to the November 24 hacking attack, which has produced a string of damaging and highly embarrassing leaks."This will not take us down," Sony Pictures chief Michael Lynton told employees, cited by a ...
Ikea ruffles a few feathers with first Korean store SEOUL: Global furniture giant Ikea opens its first store in South Korea on Thursday, a much-anticipated market entry that has stumbled at a number of commercial and cultural hurdles along the way.Expectations are high for the Swedish firm's 131,550 square-metre (32.5-acre) outlet in the city of Gwangmyeong, south of Seoul, especially among young, urban consumers.Koreans have long lamented a lack of choice in a domestic furniture market often criticised for its overpriced, limited designs. But ...
Hitachi, Switzerland's ABB eye power-transmission tie-up TOKYO: Japan's Hitachi and Swiss engineering giant ABB are close to setting up a joint venture to market power transmission equipment in Japan, as they eye deregulation of the heavily protected sector, a report said Tuesday.The deal would see Hitachi -- which declined to comment on the story -- take a majority stake in the new business and appoint its chief executive, Japan's leading Nikkei business daily reported without citing sources.The news comes as Japanese ...
India's Maruti to raise car prices by 2-4pc from Jan MUMBAI: Maruti Suzuki India Ltd , India's largest carmaker, plans to raise prices of its cars by 2 to 4 percent from January due to an increase in input costs, its executive director R.S. Kalsi said on Monday.Maruti joins carmakers including Indian units of BMW AG and General Motors Co that also plan to raise prices of their cars by up to 5 percent from January, the companies have said earlier.The increase in prices come ...


Index Closing Chg%
Arrow DJIA 17,356.87 1.69
Arrow Nasdaq 4,644.31 2.12
Arrow S&P 2,012.89 2.04
Arrow FTSE 6,336.48 0.07
Arrow DAX 9,544.43 0.20
Arrow CAC-40 4,111.91 0.46
Arrow Nikkei 16,819.73 0.38
Arrow H.Seng 22,585.84 0.37
Arrow Sensex 26,710.13 0.27

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 15, 2014
Reserves $13.922 bln