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Sony denies having 'caved,' still plans movie release LOS ANGELES: Sony Pictures boss Michael Lynton denied Friday the Hollywood studio has "caved" by canceling the release of "The Interview," and said it still hoped to release the controversial film.He also hit back at President Barack Obama's claim that it had made a "mistake" in pulling the movie, three and a half weeks after a massive cyber-attack blamed on North Korea angered by the film."We have not caved, we have not given in, we have persevered and we have not backed down," Lynton told CNN, shortly after Obama accused Sony of making a "mistake."In a statement a short time later, Sony said that after canceling the release, "we immediately began actively surveying alternatives to enable us to release the movie on a different platform.""It is still our hope that anyone who wants to see this movie will get the opportunity to do so," the studio added.The Sony film, a ...

China agrees on deal to build 867 km of railways in Thailand BANGKOK: Thailand and China agreed on Friday to build 867 km (542 miles) of dual track railways in the Southeast Asian nation, in cooperation seen as consolidating China's influence in the region. A memorandum of understanding (MoU) was signed on the sidelines of a two-day regional summit that began in Bangkok on Friday. The project could be a boon for Thai trade and tourism and strengthen China's strategic foothold in a country that has seen ...
Nissan CEO says suspending some Russia car orders in ‘bloodbath’ for automakers TOKYO: Japan's Nissan Motor Co and French partner Renault SA have stopped taking orders for some cars in Russia and could raise prices on others if the rouble's plunge continues, alliance Chief Executive Carlos Ghosn said on Friday. "We have suspended taking orders," Ghosn told reporters at Nissan's headquarters in Yokohama, saying the freeze is limited to specific models while orders already placed are being honoured. "We didn't do it (suspend orders) overall, just on ...
How GE changed tack on Russia LONDON: About five years ago, General Electric Co, the largest Western player in Russia's market for medical equipment, uncovered pervasive corruption in its Russian business. Ferdinando Beccalli-Falco, then chief executive of GE Germany and Developed Markets, told an investor conference in 2012 that senior management became aware of the problems around 2009. "We had to eliminate more than half of our healthcare organisation because we discovered that they were happily scamming our customers, scamming against ...
BASF, Gazprom cancel gas asset swap as Russian crisis intensifies FRANKFURT: German chemicals group BASF SE and Russia's Gazprom have abandoned a gas assets swap deal planned for this year as companies across Europe continue to suffer from growing tensions between Moscow and the West.Relations between Russia and Western countries have deteriorated rapidly over the conflict in Ukraine, which has led to sanctions on both sides and hurt Western companies with business interests in Russia. The standoff has damaged the Russian economy, along with falling ...
Double blow for Roche as breast cancer, Alzheimer's studies fail ZURICH/LONDON: Roche suffered a double blow on Friday as two clinical studies of drugs for breast cancer and Alzheimer's disease failed, sparking the biggest percentage fall in its stock in five years. The Swiss drugmaker said it was ending a late-stage study of experimental Alzheimer's drug gantenerumab after it failed to prove effective, underlining the difficulty of treating the memory-robbing disease and removing "blue sky" upside for the shares. Commercially, however, the failure of Roche's ...
Global steel output edges up in November, China dips LONDON: Global crude steel output edged up 0.1 percent year on year in November, boosted by the Americas where demand is on the rise, while output in top steel producer China dipped, but not enough to support weak world steel prices, industry data showed.Crude steel output hit 131 million tonnes in November, boosted by a 2.4 and 2.7 percent rise in North and South America, respectively, World Steel Association data showed on Friday.Output in China, ...


Index Closing Chg%
Arrow DJIA 17,804.80 0.15
Arrow Nasdaq 4,765.38 0.36
Arrow S&P 2,070.65 0.46
Arrow FTSE 6,545.27 1.23
Arrow DAX 9,786.96 0.25
Arrow CAC-40 4,241.65 0.18
Arrow Nikkei 17,621.40 2.39
Arrow H.Seng 23,116.63 1.25
Arrow Sensex 27,371.84 0.90

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 18, 2014
Reserves $14.04 bln