August 2011

Greece welcomes 10% more tourists from Jan-July

August 26, 2011

(MENAFN) Greek Tourism Enterprises Association’s (SETE) director, Andreas Andreadis, said that in 2011′s first seven months, the number of foreign tourists coming to the country grew 10 percent, …

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Swiss property remains healthy, but strong franc threatens economic growth

August 26, 2011

Switzerland’s property market remains strong.

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Global housing markets under pressure, says Global Property Guide

August 26, 2011

The world’s housing markets were on balance weaker during the year ending in the second quarter of 2011

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Samsung eyes growth in emerging markets

August 25, 2011

(MENAFN) Samsung Electronics’ group spokeswoman said that the Korean company unveiled four new smartphone models under the Galaxy line in a bid to expanding its offerings of cheaper smartphones to …

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Asian Activities Report for August 25, 2011: Roc Oil (ASX:ROC) Reports Half Yearly Results

August 25, 2011

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Roc Oil Company Limited (ASX:ROC) today releases its Half Year Financial Report for the period ended 30 June 2011. ROC remains on target to …

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Switzerland to pay UK govt USD629m

August 25, 2011

(MENAFN) Switzerland and the U.K finance ministries said that the two countries reached an agreement in which Swiss banks would pay USD629 million to the U.K. government to end a dispute over tax …

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Oil climbs on stronger manufacturing activity

August 25, 2011

(MENAFN – Saudi Press Agency) Oil is rising on news of stronger manufacturing activity in the U.S, according to AP. Benchmark West Texas crude on Wednesday rose 57 cents to $86.01 per barrel in …

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Gold prices plunge as economic fears ease, for now

August 25, 2011

(MENAFN – Saudi Press Agency) Gold prices are plunging as investors grow more confident about the global economy, according to AP. Gold fell $104, or 5.6 percent, to settle at $1,757 an ounce …

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France to unveil deficit cutting measures, slash growth forecast

August 25, 2011

(MENAFN – Saudi Press Agency) French Prime Minister Francois Fillon will slash the country’s 2011 growth forecast later Wednesday when he announces a series of measures to try ensure France meets …

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Japanese stocks decline

August 25, 2011

(MENAFN – Saudi Press Agency) Stocks in Tokyo fell in Wednesday morning trading on weak US economic data and a downgrade in Japan’s sovereign credit rating by Moody’s Investors Service. The …

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Number of US problem banks falls

August 25, 2011

(MENAFN – Saudi Press Agency) The number of U.S. banks listed as â€Ŕproblemsâ€‌ by regulators declined at the end of June for the first time in five years, the Federal Deposit Insurance …

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Swiss Glencore International H1 net income up 57%

August 25, 2011

(MENAFN) Glencore International’s Plc CEO, Ivan Glasenberg, said that due to growing prices, net income hiked 57 percent to USD2.45 billion in the first half of 2011 from USD1.56 billion in 2010′s …

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White House announces plan to save small businesses

August 25, 2011

(MENAFN – Saudi Press Agency) The White House on Tuesday announced a plan to save job-creating small businesses $10 billion dollars over five years through streamlined regulations and reductions in …

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S. Korea, Uzbekistan Sign Economic Agreements

August 25, 2011

(MENAFN – Qatar News Agency) South Korea and Uzbekistan agreed to jointly explore rare earth resources in the Central Asian nation and signed other economic cooperation agreements Wednesday, a day …

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China’s Yuan Advances to 6.3896 Against US Dollar

August 25, 2011

(MENAFN – Qatar News Agency) The Chinese currency Renminbi, or the yuan, gained 91 basis points to a record high of 6.3896 per US dollar on Wednesday, according to the China Foreign Exchange Trading …

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US annual deficit to shrink by USD3.3tr over next decade

August 25, 2011

(MENAFN) US Congressional Budget Office’s (CBO) Director, Douglas W. Elmendorf, said that since the congress passed the deficit reduction package earlier this month, over the next decade, US annual …

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France- ‘Syrians have the right to democracy too’:

August 25, 2011

(MENAFN – Khaleej Times) French President Nicolas Sarkozy said Wednesday the Syrian people “have the right to democracy too” following a meeting with a leader of the Libyan rebel movement that …

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Guess Q2 net profit down 9%

August 25, 2011

(MENAFN) The famous US clothing maker Guess’ CEO, Paul Marciano, said that its net income for the second quarter decreased 9 percent to USD60.7 million from USD66.8 million the company scored last …

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Russian spaceship crashes

August 25, 2011

(MENAFN – Jordan Times) A Russian spaceship with cargo for the International Space Station crashed into Siberia shortly after blast-off Wednesday, in the latest blow to Russia’s embattled space …

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Harming the US economy

August 25, 2011

(MENAFN – Jordan Times) Beleaguered US President Barack Obama may expect to get a political boost from the fall of the Qadhafi regime in Libya. Obama’s cautious gamble has paid off. NATO, initially …

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International oil higher on supply concerns

August 25, 2011

(MENAFN – Youm7) International oil prices finished the day slightly higher because of uncertainty about global supplies. Dictator Moammar Gadhafi may be on his way out, but it’s far from clear …

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China’s New Currency Policy

August 25, 2011

(MENAFN – Alrroya) China’s government may be about to let the renminbi-dollar exchange rate rise more rapidly in the coming months than it did during the past year. The exchange rate was actually …

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UK- Can Central Banks Still Influence Exchange Rates?

August 25, 2011

(MENAFN – Alrroya) On September 16, 1992, a date that lives in infamy in the United Kingdom as “Black Wednesday,” the Bank of England abandoned its efforts to keep the British pound within its …

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Virgin Australia annual loss reaches USD70.9m

August 25, 2011

(MENAFN) Virgin Australia airlines’ CEO, John Borghetti, said that due to growing fuel prices and a number of natural disasters, the company’s annual loss reached USD70.9 million compared with a …

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US Express Q2 net income down 43% to USD12.6m

August 25, 2011

(MENAFN) Express’ Inc. CEO, Michael Weiss, said that since the clothing chain’s costs grew faster than its revenue, the US firms’ net income dropped 43 percent in the second quarter reaching USD12.6 …

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Acer Q2 net loss USD234.3m

August 25, 2011

(MENAFN) Acer’s Chairman, J.T. Wang, said that since the PC maker took charges in order to reorganize in the first half, in the second quarter, the company’s net loss reached USD234.3 million …

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UK- Arab Spring cuts Chime revenues

August 25, 2011

(MENAFN) UK-based Chime Communications said that it blames the Arab Spring for the decreasing revenues of its public relations unit, despite it being one of the few PR firms to have taken up work …

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PetroChina H1 net income up 1% to USD10.3b

August 25, 2011

(MENAFN) PetroChina said that since gains in crude oil costs were lower than the growth in state-controlled fuel prices, the company’s first-half profit went up only 1 percent to USD10.3 billion …

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New Zealand economic growth to accelerate this year as retail sales increases more than expected 

August 25, 2011

Retail sales in New Zealand rose in the second quarter of last year as the domestic spending is recovering especially after monetary policy makers decided to keep the overnight cash rate at its low …

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Sino Gas and Energy Holdings Limited (ASX:SEH) Completed 1st Phase of 2011 Well Testing Program

August 25, 2011

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Sino Gas & Energy Holdings Limited (ASX:SEH) has now successfully implemented the 1st phase of its 2011 well testing program with the …

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Atlas Iron Limited (ASX:AGO) Announces A$169 Million Maiden Annual Profit and Dividend of 3 Cents per Share

August 25, 2011

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Atlas Iron Limited (ASX:AGO) is pleased to report a maiden annual profit after income tax of A$169 million for the year to June 2011. The …

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Tokyo Stock Exchange Finished 104.88 Points Higher

August 24, 2011

(MENAFN – Qatar News Agency) Japanese shares closed up 1.22 per cent on Tuesday following better-than-expected Chinese manufacturing data that spurred buying, and as the yen weakened amid …

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Japan- Nikkei Closes 1.22% Higher

August 24, 2011

(MENAFN – Qatar News Agency) Tokyo stocks closed sharply higher Tuesday with the key Nikkei stock index surging 1.22 percent. The benchmark Nikkei 225 Average gained 104.88 points from Monday to …

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Obama, Cameron Discuss Libyan Situation on Phone

August 24, 2011

(MENAFN – Qatar News Agency) US President Barack Obama and British Prime Minister David Cameron have said Libya’s Col Muammar Gaddafi must “relinquish power once and for all.” In a telephone …

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Qantas Airways annual profit rises to USD263m

August 24, 2011

(MENAFN) Qantas Airways’ Ltd. chief executive, Alan Joyce, said that compared with USD117 million annual net profit in 2010, this year, the figures increased to more than a double reaching USD263 …

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Strauss-Kahn is a free man after case dropped

August 24, 2011

(MENAFN – Jordan Times) Former IMF chief Dominique Strauss-Kahn was a free man Tuesday after a US judge dismissed all sex crime charges, ending a three-month saga that captivated the world and …

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$2,000 well within sight for gold

August 24, 2011

(MENAFN – Khaleej Times) Gold continued to glitter as it hit an all-time high above $1,915 on Tuesday, as persistent worries about global economic growth burnished bullion’s safe-haven appeal. …

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Chrysler to renovate Toledo Machining Plant with USD72m

August 24, 2011

(MENAFN) Chrysler Group LLC said that as part of the company’s plans to expand investments in Ohio, the carmaker would invest USD72 million in order to add new equipment and renovate the Toledo …

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Medvedev reportedly in for summit with Kim Jong Il

August 24, 2011

(MENAFN – Khaleej Times) Russian President Dmitry Medvedev reportedly arrived Wednesday in remote eastern Siberia for a summit with North Korean leader Kim Jong Il expected to focus on energy deals, …

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African Union to pledge funds for Horn drought crisis

August 24, 2011

(MENAFN – Gulf Times) African leaders is meeting tomorrow to pledge funds to tackle the famine in Somalia and extreme drought across the Horn of Africa which are putting millions of people at risk …

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Heinz Q1 profit down 9% to USD226.1m

August 24, 2011

(MENAFN) H.J. Heinz’ Co. CFO, Art Winkleblack, said that since the ketchup maker closed plants and cut jobs, in the first quarter, profit dropped 9 percent to USD226.1 million from USD240.4 million …

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USA- Medtronic Q1 profit down 1%

August 24, 2011

(MENAFN) The Minneapolis-based Medtronic’s CEO and Chairman, Omar Ishrak, said that the company’s earnings for the first fiscal quarter slipped 1 percent to USD821 million despite high revenue gains …

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UK- WPP profit rises in H1

August 24, 2011

(MENAFN) The London-based WPP Plc’s chief executive officer, Martin Sorrell, said that profit that the company’s profit increased more than what analysts estimated in the first half of the current …

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Prtrofac eyes expansions worth USD4b to fund projects

August 24, 2011

(MENAFN) Petrofac’s chief executive, Ayman Asfari, stated that the company is planning to fund expansions in South East Asia and Africa worth USD4 billion, reported the National. The chief …

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Chocolate makers maintain profit through prices hike

August 24, 2011

(MENAFN) Lindt & Spruengli said that Chocolate makers are managing to keep their profit on going despite high cocoa prices and economic gloom, and is attributed to the strength of consumer desire …

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China’s H1 trade surplus down to 1.44% of GDP

August 24, 2011

(MENAFN) China’s Ministry of Commerce said that in 2011′s first six months the country’s trade surplus dropped to 1.44 percent of gross domestic product (GDP) from 2.2 percent in 2010, reported …

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South Korea foreign debt up USD398b

August 24, 2011

(MENAFN) The Bank of Korea (BOK) said that South Korea’s foreign debt reached a new record in the second quarter of the current year of USD398 billion driven by an increasing long-term external debt …

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Stocks jump; Dow notches best gain in two weeks

August 24, 2011

(MENAFN – Arab News) Stocks posted their biggest jump in nearly two weeks on Tuesday. Investors picked up cheaply priced stocks after fears that the US would slip into a recession pounded the …

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Iran shows off new cruise missile

August 24, 2011

(MENAFN – Arab News) Iran’s president claimed on Tuesday the country’s military can cripple enemies on their own ground as Tehran put a new Iranian-made cruise missile on display, the latest …

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Japan likely to replace unpopular PM Kan next week

August 24, 2011

(MENAFN – Arab News) A former foreign minister announced his candidacy to lead Japan on Tuesday just hours after unpopular Prime Minister Naoto Kan said he would be out of the picture by early next …

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