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India may exempt ONGC, Oil India from paying subsidy in March-qtr NEW DELHI: India's state-backed oil producers Oil and Natural Gas Corp Ltd and Oil India Ltd may be exempt from paying subsidies to fuel retailers in the March quarter, a source familiar with the plan said on Friday. India regulates retail prices of liquefied petroleum gas and kerosene to keep prices under check, with producers like ONGC and Oil India selling crude and related products to fuel retailers at a hefty discount to partly compensate for the losses.In addition, the oil ministry has asked the federal finance ministry for a 50 billion rupees ($798.7 million) subsidy for the quarter ended March 31, said the government source, who asked not to be named as he is not authorised to speak to the media. Copyright Reuters, 2015 ...

China Aviation Oil seeks up to 1.1mn bbls jet fuel for May SINGAPORE: China Aviation Oil (Singapore) is seeking up to 1.1 million barrels of jet fuel for May, a tender document showed on Friday.The company is seeking three cargoes of 240,000 to 300,000 barrels each of the aviation fuel for loading from either South Korea, Japan, Taiwan, Singapore, Malaysia or Thailand for loading over May 1 to 10, May 11 to 20 and May 21 to 31.It is also seeking 25,000 tonnes or about 200,000 barrels ...
Petrobras to shut refinery, exit Japan TOKYO: Brazil's state oil company Petrobras is exiting Japan due to shrinking oil demand, shutting down its refinery in Okinawa as early as this year and building an import terminal it will sell to another refiner, the Nikkei reported on Friday.Petrobras had said as early as 2011 that it would consider selling the 100,000-barrels-per-day (bpd) Nishihara refinery on the southwest Japanese island of Okinawa to focus on the development of its domestic offshore oil discoveries.But ...
Air Berlin sees profits improving in 2015 BERLIN: Air Berlin said it expected profit to improve significantly in 2015 thanks to turnaround measures being put in place by its new chief executive. The carrier, Germany's second-largest airline, made the prediction as it released preliminary figures for 2014 showing a net loss of between 362 million and 387 million euros ($393 to $420 million). Air Berlin had previously forecast a net loss for 2014 of about 350 million euros and said on Thursday ...
Air China sees 14pc rise in 2014 net profit HONG KONG: Air China, the country's flag carrier, said Thursday that the global economic recovery and falling oil prices helped lift its net profit by 14 percent last year.Net profit in 2014 came in 3.78 billion yuan ($608.67 million), up from 3.32 billion yuan the previous year, the airline said in a statement filed late Thursday to the Hong Kong Stock Exchange.It credited falling oil prices, recovery in the global economy, and strengthened cost management, ...
EasyJet to change cockpit policy after French Alps crash LONDON: British airline easyJet said Thursday it would enforce a new policy for two crew members to be in the cockpit at all times from Friday, after a German airliner crash in the French Alps that killed 150 people."EasyJet can confirm that, with effect from tomorrow... it will change its procedure," the airline said in a statement, after investigators said they believed the co-pilot of the Germanwings flight deliberately crashed the plane.Similar decisions have been ...
Toyota rolls out shared-parts strategy to chop costs TOKYO: Toyota on Thursday announced plans to overhaul production to slash development costs, with a top executive describing the shakeup as crucial to navigating "sudden and drastic changes" in the auto sector.While the Japanese car giant is on track for a record $18 billion fiscal year profit, largely due to a weak yen and strong North American sales, the world's biggest automaker said it needs to go further to protect its bottom line in a ...


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