1.Oil is diving again:
UK Brent is down 1.4% at $33.08 (£22.76) at 6.50 a.m. GMT (1.50 a.m. ET), while US crude is down 2.28% at $32.41 (£22.30).

2.Volkswagen’s Boss apologizes:
The chief executive of Volkswagen, Matthias Mueller has apologized for cheating diesel car emissions tests on his first official US visit since the scandal about 4 months ago,the head of the German carmaker said at a media reception on the eve of the Detroit auto show.

“We know we deeply disappointed our customers, the responsible government bodies, and the general public here in America.”

3.Heathrow pays £2bn to owners and £24m tax:
Heathrow has handed its owners £2.1bn in dividends over the past four years but paid only £24m corporation tax in almost a decade.

4.China’s Apex Aluminum Maker Aims to Raise Almost Half A Billion Dollars With Stock:
China Hongqiao Group. Ltd., the world’s biggest maker of aluminum, will raise nearly half a billion dollars from a rights offer underwritten by its founder, highlighting the difficulties of producers amid five-year-low commodities prices. The company’s shares dropped in Hong Kong.

5.South Africa Aware Citigroup Canceled Airline’s Credit Facility:
South Africa’s Pretoria-based ministry’s spokeswoman Phumza Macanda, said this week, South Africa’s National Treasury is aware that Citigroup Inc. canceled a credit facility for the country’s national airline and is working with South African Airways to ensure the company has enough liquidity to continue operating.

6.Saudi Arabia Says No plans To Devalue Currency:
Saudi Arabia pledged for the second time in four months to stick with its 30-year-old currency peg after a key indicator showed bets for a devaluation at the highest in almost two decades.

7.Benchmark index Fell by 5.63%:
Benchmark index this week fell by by 5.63 per cent to close the week at 27,028.39 and N9.296 trillion respectively.

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