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Indian president slams nation's failures NEW DELHI: President Pranab Mukherjee gave a stern assesmement of India 65 years after it declared itself a republic, criticising parliamentary dysfunction and the overuse of decrees in a message that might also resonate with his visitor, US President Barack Obama.In a Republic Day address on the eve of the celebrations, India's largely ceremonial president was also scathing about rampant violence against women in the world's second most populous nation.Mukherjee said the opposition should debate laws responsibily rather than disrupting the houses of parliament, and warned Prime Minister Narendra Modi's government against governing by decree.He was referrring to 10 "ordinances" issued by Modi, including ones to raise the foreign investment limit in insurance, auction coal mines and ease land acquisitions."Enacting laws without discussion impacts the law-making role of the parliament. It breaches the trust reposed in it by the people," Mukherjee said in a televised address on Sunday."This is neither ...

Deputy of Indonesia's anti-graft body to resign JAKARTA: The deputy chief of Indonesia's anti-graft agency will submit his resignation letter on Monday, days after the police named him a suspect in a false testimony case, an agency official said.Police on Friday detained and questioned Bambang Widjojanto, deputy chief of the Corruption Eradication Commission (KPK), for a case dating from 2010, fuelling tension between two law enforcement bodies that have long had strained relations."Bambang will submit his resignation letter today," Johan Budi, KPK's ...

Thai govt approves struggling Thai Airways' restructuring plan BANGKOK: Thailand's military-led government has approved a restructuring plan for Thai Airways International PCL in a bid to restore profitability to the national carrier's operations, a senior government official said on Monday.State-controlled Thai Airways is one of the major state companies to undergo reform after the military seized power from an elected government in a May coup.The restructuring plan includes measures to cut operating costs, boost revenue and sell some non-core assets, said Kulit Sombatsiri, ...

Asia-Europe container freight rates jump 24.6pc COPENHAGEN: Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 24.6 percent to $1,256 per 20-foot container (TEU) in the week ended on Friday, data from the Shanghai Containerized Freight Index showed.The rise in freight rates on the world's busiest route was a result of a general rate increases announced by the global leader Maersk Line and other major container shipping companies earlier in January.In the week to Friday, container ...

Polish billionaire plans to sell $116mn stake in Newag: paper WARSAW: Polish billionaire Zbigniew Jakubas is in talks to sell his 40 percent stake worth about $116 million in railway carriages producer Newag, the Puls Biznesu daily said on Monday, quoting an unnamed source."The assets sale process started in December 2014. The offer was directed at selected strategic investors," a source said, according to the daily.Among parties potentially interested in Newag, Puls Biznesu named Alstom, Bombardier, as well as Skoda Transportation and Swiss Stadler. "I ...

Australia knights Prince Philip, sparking national outrage PERTH: Conservative Prime Minister Tony Abbott has awarded Australia's highest honour to Prince Philip, husband of Queen Elizabeth, sparking a barrage of criticism across the country on its national day of celebration.Prince Philip was made a Knight of the Order of Australia, awarded as part of the country's honours system announced on Australia Day, with Abbott saying it paid "tribute to an extraordinary life of service".The award grated with republicans who want to sever ties ...

Rain on India's parade, but Obama visit keeps spirits high NEW DELHI: Rain threatened to dampen the excitement around US President Barack Obama's landmark visit to India as thousands of troops prepared on Monday for a dazzling military parade where he will be the chief guest.The first US president to attend the annual show of military might that was long associated with the anti-Americanism of the Cold War, Obama spent the first day of his visit on Sunday bonding with Prime Minister Narendra Modi and ...


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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 $-1.664 bln
Exports $1.966 bln
Imports $3.630 bln
WeeklyJanuary 22, 2015
Reserves $10.331 bln