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Lufthansa says services back to normal after pilots' strike FRANKFURT: German airline Lufthansa said Sunday that services were more or less back to normal after a four-day walkout by its pilots in a long-running dispute over early retirement provisions.A company spokesman said short and medium haul flights were back to normal on Sunday, but a small number of long-haul flights had still been cancelled. Originally, the pilots' union Vereinigung Cockpit had initially called for a 24-hour walkout on Wednesday, but subsequently extended the industrial action over four days.The stoppages had targeted short and medium haul services on Wednesday and Friday and long haul and cargo flights on Thursday and Saturday. In all, around 220,000 passengers have been hit by the four days of walkouts, Lufthansa calculated.It is the 12th and longest stoppage since the pilots began their industrial action last April. The dispute hinges on plans by Lufthansa to scrap an arrangement under which pilots can retire at 55 ...

India rejects low winning bids for 4 'outlier' coal mines NEW DELHI: India has rejected winning bids for four of 33 coal mines put up for auction in the past two months, the top civil servant in the country's coal ministry said on Saturday, in a decision that will most hurt Jindal Steel and Power Ltd.The ministry had examined nine blocks whose surprise low bids prompted the designation "outliers". But bids for five of those mines were accepted, Coal Secretary Anil Swarup said in a ...
Telecom Italia places 2bn euro equity-linked bond MILAN: Telecom Italia said on Friday it had placed with investors a 2-billion euro ($2.14 billion) equity-linked bond whose proceeds will be used to fund investments under a new plan recently presented. The bond, which matures in 2022, will pay a coupon of 1.125 percent annually, the company said in a statement. The conversion price will be set at a 70 percent premium above a reference price equal to the volume-weighted average price of the ...
Telefonica waives rights in Telecom Italia eyeing Brazil MADRID: Telefonica has formally waived the voting rights associated with its stake in Telecom Italia in order to comply with the demands of Brazil's telecoms watchdog Anatel and go ahead with a purchase of Vivendi's GVT, the Spanish group said on Friday. Earlier this month Brazil's antitrust regulator said it had reached a preliminary deal with Telefonica and the local broadband unit of Vivendi that could clear the way for their merger.Telefonica has an around ...
Ethiopian Airline pilot gets 19 years for hijacking plane ADDIS ABABA: An Ethiopian Airlines pilot who last year hijacked a plane to seek asylum in Switzerland was on Friday jailed in absentia for 19 years by a court in Ethiopia.The pilot, 32-year-old Ethiopian Hailemedehin Abera Tagegn, is currently awaiting trial in Switzerland.Tagegn was second-in-command on the flight that was carrying 202 passengers from the Ethiopian capital, Addis Ababa, to Rome. He locked himself in the cockpit when the captain went to the bathroom and ...
Lafarge and Holcim repair cracks in deal to create world's top cement company PARIS: Lafarge and Holcim said Friday that they had repaired cracks that had threatened to collapse their merger to create the world's biggest cement company."The Boards of Directors of Holcim and Lafarge are pleased to announce that they have reached an agreement on revised terms for the merger of equals between both companies," the said in a joint statement.Last year the two companies announced plans to create a cement titan employing more than 130,000 people, ...
Lufthansa cancels half of long-haul, cargo flights Saturday FRANKFURT: German airline Lufthansa said Friday it has cancelled around half of all long-haul and cargo flights on Saturday as its pilots stage a walkout for the fourth consecutive day.Lufthansa said in a statement that it had grounded 74 out of a total 160 inter-continental flights scheduled for Saturday, affecting an estimated 20,000 passengers. And around 60 percent of Lufthansa Cargo flights would also be hit.Originally, the pilots' union Vereinigung Cockpit had initially called for ...


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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 20, 2015
Reserves $16.132 bln