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OCBC says did not reach deal to sell United Engineers stake to Thai billionaire SINGAPORE: Singapore's Oversea-Chinese Banking Corporation (OCBC) and its insurance arm said they did not reach an agreement to sell their stake in United Engineers Ltd to a company controlled by Thai billionaire Charoen Sirivadhanabhakdi.OCBC and Great Eastern Holdings had entered into exclusive talks with TCC Top Enterprise Ltd, controlled by Charoen and his wife, over the stake sale in August.OCBC and related companies own around 36 percent of United Engineers, which has a market capitalisation of $1.5 billion."OCBC Bank and GEH wish to update their respective shareholders that the parties are not able to reach an agreement on an appropriate transaction structure for the possible transaction and the exclusivity agreement has lapsed," OCBC said in a statement on Saturday.United Engineers shares closed down 3.4 percent on Friday.Copyright Reuters, 2015 ...

Australia PM pleads with Indonesia over death row men SYDNEY: Prime Minister Tony Abbott Saturday pleaded with Indonesia to heed Australia's call for clemency for two death row convicts, and warned that Canberra would make its displeasure known should the executions go ahead.Andrew Chan, 31, and Myuran Sukumaran, 33, are facing execution by firing squad after being convicted over a failed 2005 bid to traffic heroin from Indonesia's island of Bali into Australia."Millions of Australians are feeling very, very upset about what may soon ...
Korean Air heiress appeals in 'nut rage' case SEOUL: The daughter of Korean Air's chairman appealed Friday against her conviction for violating aviation safety law during a "nut rage" incident that invited international ridicule.Cho Hyun-Ah, a former executive vice president of the airline, was handed a one-year jail term on Thursday, after being found guilty of safety breaches and assaulting cabin staff.The main charge related to her decision to force a taxiing New York-Seoul KAL flight to return to its departure gate on ...
Australians could boycott Indonesia over executions: FM SYDNEY: Australian travellers could boycott Indonesia if Jakarta executes two drug smugglers on death row, Foreign Minister Julie Bishop said Friday as she refused to rule out withdrawing diplomats.Bishop, who pleaded for the lives of Andrew Chan and Myuran Sukumaran in parliament Thursday, said the situation was tense as Indonesian authorities made plans to transfer the pair from prison to the site of their execution."It's a very tense situation," Bishop told Fairfax radio.Vigils have been ...
Nearly 50 Myanmar troops killed fighting northern rebels YANGON: Nearly 50 soldiers have been killed in recent fighting with rebels in a northern border area near China, Myanmar's state media said Friday, the latest blow to government hopes for a countrywide ceasefire.The troops were killed in four days of clashes in Shan state with largely ethnic Chinese rebels from the Kokang region which broke out on February 9, the Global New Light of Myanmar said."So far, the fighting has left government forces with ...
Court finds 'Nut rage' Korean Air heiress guilty SEOUL: The daughter of Korean Air's chairman was found guilty Thursday of violating aviation safety law in a now notorious on-board "nut rage" incident that triggered an uproar over the behaviour of South Korea's elite business families.Cho, who was a senior Korean Air executive at the time of the incident, is also charged with obstructing justice and assaulting a member of the cabin crew, and faces a possible three-year jail term.Copyright AFP (Agence France-Presse), 2015 ...
Australia PM savages study into detention of asylum-seeker children SYDNEY: Australian Prime Minister Tony Abbott on Thursday savaged a Human Rights Commission report into the struggles of asylum-seeker children held in detention as "blatantly partisan" and said he had no guilt "whatsoever".In a damning report to parliament, the government-funded commission said its 10-month investigation of 11 detention centres found widespread sexual assault, self-harm and severe mental disorders among children locked up."There appears to be no rational explanation for the prolonged detention of children," stated ...

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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 $-1.703 bln
Exports $2.156 bln
Imports $3.859 bln
WeeklyFebruary 26, 2015
Reserves $15.944 bln