Credit Suisse comes back from loss

Switzerland: Credit Suisse Group says it made net profit of 921 million francs (£600m) in the fourth quarter, bouncing back from a loss of 476m francs (£310m) a year earlier.

The company declared an unchanged dividend of 0.70 francs for 2014 and said it would offer shareholders the option of getting stock instead of cash.

The Swiss bank said current low interest rates would dent its profits by 3 per cent compared to 2014 earnings, but the loss should be offset by 2017.

Crews scramble for fishing boat

New Zealand: Crews from the US and New Zealand were trying yesterday to rescue a damaged fishing boat with 27 people aboard that remained stuck in ice near Antarctica.

The US coastguard said Australian vessel Antarctic Chieftain suffered damage to three of its four propellers after getting stuck on Wednesday.

Coastguards sent the icebreaker Polar Star to free the fishing boat. The cutter will need to break through several miles of ice that is nine feet thick.

‘Weapons’ material intercepted by navy

Israel: The military claimed yesterday that a boat carrying materials for making weapons was intercepted by the navy last month en route to the Gaza Strip from the Sinai Peninsula.

Charges against three suspected smugglers, who were detained on board, were filed this week.

Israel claimed the vessel carried material for making rockets and mortars of the type Hamas has fired at Israel.

Answers sought after blackout

Kuwait: Ministers were seeking answers yesterday about a widespread blackout that hit the small Gulf nation the previous evening.

The outage affected much of the country, including its international airport.

Minister of Public Works Abdulaziz al-Ibrahim said the cause was a “glitch” in one of the land lines linked to al-Subbyia power station that was transmitting 2,000 megawatts.

Erdogan wants Havana mosque

Cuba: Turkish President Tayyip Erdogan proposed to build a mosque in Havana during a trip to the socialist island.

In talks with Cuban President Raul Castro, Mr Erdogan sought approval for Turkey to build a temple based on the model of a mosque in the Ortakoy district in Istanbul.

Last November, Erdogan told a conference of Muslim leaders from Latin America that Muslims had reached the Americas in the 12th century, before the European explorer Christopher Columbus in 1492.

Germanwings hit by strike

Germany: Germanwings, the low-cost subsidiary of Lufthansa, cancelled 340 outbound flights yesterday and today because of a strike by pilots.

Pilots union Vereinigung Cockpit staged a long series of walkouts last year over management plans to change the pilots’ pension arrangements.

Lufthansa wants to scrap an arrangement for pilots to retire at 55 and receive up to 60 per cent of their pay until they reach the statutory retirement age of 65.

Blogger released for Lunar New Year

Vietnam: Authorities have released a second blogger jailed more than two months ago for posting comments critical of the Communist Party as the country prepares to celebrate the Lunar New Year, which is often an occasion for prisoner amnesties.

Ho Chi Minh City police released Hong Le Tho pending an investigation into his writings.

That comes on the heels of the release of Nguyen Quang Lap on Wednesday. He said he was released on medical parole.

Photog forced to give up passport

Japan: A photographer said yesterday he was forced to give up his passport because he planned a reporting trip to Syria, complaining the confiscation violated his constitutional right of travel and press freedom.

Yuichi Sugimoto told a news conference that several Foreign Ministry and police officials visited his home in Niigata on Saturday, citing the risk of his planned trip.