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MegaFon could pay $1.3bn for half of phone retailer Euroset  MOSCOW: Russian mobile phone company MegaFon, preparing for a stock market listing in London, said on Monday it could pay up to $1.33 billion to buy half of the country's leading cellphone retailer Euroset.   The deal would give MegaFon more shops through which to sell its products and services in Russia's highly competitive mobile market. Euroset has 5,500 stores in Russia and Belarus. MegaFon runs 1,750 of its own stores and 2,000 franchisee shops, according to VTB analysts.   MegaFon approved plans for the purchase last month.   MegaFon's rival Vimpelcom, Russia's third-largest mobile firm, will hold the other 50 percent stake in Euroset.  Under the deal , MegaFon plans to buy 25 percent of Euroset for up to $590 million from tycoon Alexander Mamut, who has been looking to sell his holdings since last December. .   At the same time, MegaFon's main shareholder Alisher Usmanov's Garsdale company will buy another 25 percent from Mamut, f ...

Softbank to announce Sprint deal soon TOKYO: Japanese mobile carrier Softbank has agreed to buy a 70 percent stake in US competitor Sprint Nextel for $19 billion in a deal expected to be announced Monday, news reports said.   Softbank and Sprint, the third-biggest carrier in the United States, held a board-level meeting Monday morning and reached a basic accord, the Nikkei business daily said in its online edition.   The deal, announced last week, is expected to top 1.5 trillion yen ($19 billion) with ...
All Nippon Airways restarts Myanmar flights TOKYO: Japan's All Nippon Airways (ANA) on Monday restarted direct flights to Myanmar's commercial capital Yangon after a 12-year hiatus, underscoring renewed interest in the fast-reforming nation.   The carrier pointed to the rising number of business travellers and tourists headed to Myanmar, a one-time international pariah state that has recently introduced a raft of democratic reforms as it opens up to the world.   ANA, which suspended flights in 2000 due to political instability in the country, said ...
AirAsia scuttles JAKARTA: Southeast Asia's largest budget airline AirAsia has scrapped plans to acquire Indonesian carrier Batavia Air because the move was too risky, its chief executive said Monday.   "In our minds, the timing was perhaps not appropriate as it would have induced too many risks," AirAsia Group CEO Tony Fernandes said in a statement, repeating his carrier's "aggressive focus" in Indonesia and plans to list in the country.   Last week a source familiar with the deal said the ...
Japan TOKYO: Renesas Electronics' shares jumped 14 percent Monday after a report that Japan's state-backed turnaround fund and leading domestic firms will invest about $2.55 billion in the troubled chipmaker.   The stock was at 301 yen in early afternoon trade in Tokyo after the weekend report by Japan's leading Nikkei business daily.   The Nikkei said the government-backed Innovation Network Corp. of Japan (INCJ) will buy about two-thirds of Renesas for 150 billion yen ($1.9 billion) in a deal ...
Japan factory output falls revised 1.6pc in August  TOKYO: Japan's factory output in August fell by a revised 1.6 percent from the previous month, the industry ministry said on Monday.   The decline, mainly due to slowdowns in output of electric devices as well as chemical and telecommunications goods, was much sharper than a 1.3 percent fall unveiled in preliminary data, the ministry said.   It also said the nation's shipments in August rose by a revised 0.2 percent, compared with a 0.4 percent gain announced earlier, ...
Space shuttle inches in late to LA retirement home  LOS ANGELES: Thousands of Angelenos lined the streets Saturday as the space shuttle Endeavour inched to its LA retirement home -- hours late after squeezing through a particularly narrow home stretch.   Crowds applauded as the massive white spacecraft crawled along the final straight, at the stately speed of 2 miles per hour, on the second day of its last 12-mile (19 kilometer) journey across Los Angeles.   The orbiter -- which zoomed at 17,500 miles per hour when ...


Index Closing Chg%
Arrow DJIA 16,408.54 0.10
Arrow Nasdaq 4,095.52 0.23
Arrow S&P 1,864.85 0.14
Arrow FTSE 6,625.25 0.62
Arrow DAX 9,409.71 0.99
Arrow CAC-40 4,431.81 0.59
Arrow Nikkei 14,417.53 0.01
Arrow H.Seng 22,760.24 0.28
Arrow Sensex 22,628.84 1.58

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Foreign Debt $60.9bn
Per Cap Income $1,368
GDP Growth 3.6%
Average CPI 7.5%
Trade Balance $-1.433 bln
Exports $2.167 bln
Imports $3.600 bln
WeeklyApril 14, 2014
Reserves $9.713 bln