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Lufthansa says 75pc flights to go ahead despite strike       BERLIN: German airline Lufthansa hopes to be able to operate around 75 percent of flights on Friday, despite a third consecutive day of strikes by its pilots, a spokeswoman said Thursday. "We're assuming for the moment that the number of flights that can take off and land tomorrow will be of the same magnitude as on Wednesday," the spokeswoman said."We're counting on around three quarters of all flights in the entire Lufthansa group -- including Swiss, Austrian and Germanwings -- going ahead," she told AFP.The carrier was working "flat out" to compile a flight timetable for Friday and was already starting to publish a list of cancelled flights on its website, the spokeswoman added. The pilots' union Cockpit had initially called for 24-hour walkout on Wednesday, but subsequently extended the industrial action, first to Thursday and then to Friday.On Wednesday, the stoppages had targeted short- and medium-haul services. But long-haul ...

Siemens CEO fears knock-on effects of oil price fall FRANKFURT: German industrial group Siemens is worried that the slump in oil prices is discouraging oil-exporting countries from investing in infrastructure, Chief Executive Joe Kaeser said on Thursday."That's something we are seeing already. It's not cancellation but it's pushing out orders and the bid activity has become quite... slow," Kaeser told investors at a Bank of America Merrill Lynch conference in London. Reuters monitored the conference via webcast.Siemens shares dropped 2.6 percent to 102.60 euros ...
Yahoo shutting down its office in China SHANGHAI: US Internet company Yahoo is shutting down its presence in China, it said, with reports saying at least 200 people will be laid off.The closure of the research centre in Beijing office will eliminate 200 to 300 jobs, Bloomberg reported Wednesday, quoting a person familiar with the matter.The California-based firm's move contrasts with other Internet companies, which are courting the world's biggest online population despite authorities blocking their products. Twitter opened an office in ...
Sanofi says test shows lixisenatide doesn't increase cardiovascular risk PARIS: Drugmaker Sanofi said its lixisenatide drug for the treatment of type 2 diabetes did not increase cardiovascular risk among high risk patients in a study it conducted. The Phase IIIb cardiovascular outcomes study involved more than 6,000 adult patients with type 2 diabetes who were defined as high risk because they had recently experienced a spontaneous acute coronary syndrome event, the French group said.The study compared lixisenatide to placebo and showed that the treatment ...
Dubai's Emaar denies rumours that chairman intends to leave DUBAI: Emaar Properties, Dubai's largest listed real estate developer, said on Thursday it categorically denied rumours that its chairman Mohamed Alabbar intended to leave the company.Alabbar is managing the company's business on a daily basis and is fully committed to it, Emaar said in a statement.There was speculation about Alabbar's role after he participated at an investment conference in Egypt last week in a presentation about the construction of a new $45 billion capital city ...
Caltex Australia to shut Lytton refinery for maintenance in H1 SINGAPORE: Australian oil refiner Caltex is planning to shut its 109,000 barrels-per-day Lytton refinery in Brisbane for a planned maintenance in the first half of 2015, a company spokesman said on Thursday.The refinery will be shut for a major turnaround and inspection, the spokesman said, declining to provide exact dates or how much oil products the company will have to import due to the shortfall. A source close to the matter said that the maintenance ...
Oil firm DNO to cut staff and capex in 2015 OSLO: Norwegian oil firm DNO will slash its 2015 capital spending by 66 percent and also cut jobs on the back of weaker oil prices, it said on Thursday."Decline in oil prices is prompting all oil and gas companies, including DNO, to cut capex and opex," DNO said in a statement ahead of an investor presentation.The Middle-East focused firm projected a drop in capital expenditures this year to $100 million from $297 million in 2014. ...


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