finance

Spain to approve more cuts to education, health

by on April 21, 2012

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(MENAFN – Saudi Press Agency) Spain’s conservative government met Friday to approve a euro 10 billion ($13 billion) package of spending cuts and increased charges in education and health, part of an …

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Spain to approve more cuts to education, health

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World stocks weighed down by glum US economic data

by on April 21, 2012

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(MENAFN – Saudi Press Agency) World stock markets fell Friday as strong U.S. company earnings failed to calm worries the world’s No. 1 economy is struggling to maintain its recovery, AP …

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World stocks weighed down by glum US economic data

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GE reports USD3b profit in Q1

April 21, 2012

(MENAFN) General Electric Co. (GE) reported better than expected quarterly profits, helped by increased sales and higher prices, Reuters reported. The largest US conglomerate said it made a …

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USD400m Trump Towers Istanbul opened

April 21, 2012

(MENAFN) US real estate tycoon Donald Trump inaugurated Trump Towers Istanbul, and said he will partner Turkish owner and billionaire businessman Aydin Dogan in more real estate in the city, …

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Southwest Airlines’ revenues up 29% in Q1

April 20, 2012

(MENAFN) Southwest Airlines reported that revenues witnessed an increase of 29 percent in the first quarter, thus hitting earnings worth USD98 million, reported AP. The main contributor to the …

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Calif. home sales up 3% in March

April 20, 2012

(MENAFN) DataQuick, the research company, said that last month, the number of sold houses in California went up around 3 percent from the same period a year earlier to over 37,000 units, reported …

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US AMD posts USD590m loss in Q1

April 20, 2012

(MENAFN) Advanced Micro Devices Inc. said that it incurred a net loss of USD590 million in the first quarter, compared with net income of USD510 million in 2011′s same period, reported AP. The …

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S Korea’s 2012 economy to expand 3%: S&P

April 20, 2012

(MENAFN) Standard & Poor’s said that in the current year, South Korea’s economy is forecasted to expand by 3 percent, down from 3.6 percent in 2011, reported Xinhua News. The credit rating agency …

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Microsoft’s Q3 income at USD5.1b

April 20, 2012

(MENAFN) Microsoft Corp. said that net income in the third quarter fell 2 percent to USD5.1 billion, compared with USD5.2 billion recorded in 2011′s same quarter, reported AP. The software giant …

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Ford to build a new plant in China to boost output

April 19, 2012

(MENAFN) Ford Motor Co. disclosed plans to set an auto assembly plant in China to boost its output capacity in China in a bid to catch up with rivals, AP reported. The carmaker will set up a …

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Iran to allow foreign firms to invest in its oil sector

April 19, 2012

(MENAFN) Iranian first vice-president, Mohammad-Reza Rahimi, said that the country would allow foreign firms to invest in its oil sector, reported Tehran Times. Rahimi added that Iran is prepared …

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NZ’s CPI up to 1.6% in Q1

April 19, 2012

(MENAFN) New Zealand’s statistics agency said that the country’s consumers’ price index (CPI) rose to 1.6 percent in the first quarter from the same period a year earlier, reported Xinhua …

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IMF: European Banks Remain Under Pressure From Weak Growth

April 19, 2012

(MENAFN – Qatar News Agency) European banks remain under pressure from weak growth and high debt repayments. They need to strengthen their balance sheets by reducing assets and increasing their …

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First Solar Lays Off 2,000 Workers

April 19, 2012

(MENAFN – Saudi Press Agency) The biggest U.S. solar-panel manufacturer is laying off 2,000 workers and closing factories in response to declining demand and increased competition from …

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Canada Seeks Entry to Pacific Trade Pact

April 19, 2012

(MENAFN – Saudi Press Agency) Canada hopes to join a pan-Pacific trade pact in the first half of this year, but Ottawa is committed to maintaining contentious tariffs that help is farmers, Trade …

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American Airlines to slash additional 1,200 jobs

April 19, 2012

(MENAFN) American Airlines said that it would slash another 1,200 nonunion jobs in order to reduce costs, reported AP. The carrier added that the move brings the total number of job reductions to …

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EBay’s Q1 net income jumps 20% to USD570m

April 19, 2012

(MENAFN) EBay Inc. said that net income jumped 20 percent in the first quarter to USD570 million, compared with USD476 million in 2011′s same period, reported AP. The San Jose, Calif.-based firm …

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Withdrawal notepad

April 19, 2012

(MENAFN – Khaleej Times) Australia has cast the first stone in the withdrawal process from Afghanistan. Prime Minister Julia Gillard’s conviction that her troops should be back home much before the …

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International Monetary fund increased Global economy’s growth forecast for 2012

April 18, 2012

International Monetary fund raised its forecasted global growth for 2012 for the first time since a year, adding signs to recovery of American economy which supported the global economy’s …

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Australian Market Outlook – 04.18.2012

April 18, 2012

— Created by Ilya Spivak, Currency Strategist for Dailyfx.com To contact Ilya, e-mail ispivak@dailyfx.com. Follow Ilya on Twitter at @IlyaSpivak To be added to Ilya’s e-mail distribution list, …

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Global economy improving but remains "weak" – IMF

April 18, 2012

(MENAFN – Kuwait News Agency (KUNA)) Prospects for the global economy are gradually strengthening again but downside risks remain “elevated,” as growth is expected to be weak, especially in Europe, …

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South Sudan is newest World Bank member

April 18, 2012

(MENAFN – Saudi Press Agency) South Sudan, the world’s newest country, is taking up membership in the World Bank, dpa cited the international development lender as announcing Tuesday. The …

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IMF: Global government debt crisis easing slightly

April 18, 2012

(MENAFN – Saudi Press Agency) Governments in advanced economies are gradually making modest progress in taking control over their massive deficits, which galloped out of control in 2008-09 during …

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US stocks jump after strong profits; Spain soothes

April 18, 2012

(MENAFN – Saudi Press Agency) U.S. stocks are closing sharply higher after promising signals about the profitability of U.S. companies and a strong debt auction by Spain, according to …

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Elephant hunting

April 18, 2012

(MENAFN – Arab News) It is reported that Spanish media has pointed out the cost of King Carlos’ trip to Botswana on elephant hunting at a time country is reeling from an economic crisis, which has …

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Intel says Q1 income down 13%

April 18, 2012

(MENAFN) Intel Corp. said that net income dropped 13 percent in the first quarter to USD2.74 billion, compared with USD3.16 billion in 2011′s same period, reported AP. The Santa Clara, …

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Sunnis in Iran under Persian ‘arrogance’

April 18, 2012

(MENAFN – Arab News) A common man may think that Iran is populated by a single race or ethnic group, but in fact there are several ethnic groups other than Persians in Iran. They include Arabs, …

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Yahoo posts 28% jump in Q1 earnings

April 18, 2012

(MENAFN) Yahoo Inc said that first-quarter net income jumped 28 percent from the USD223 million recorded in 2011′s same period to USD286 million, reported AP. The company added that in the …

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RBA may cut the interest rate for the first time this year

April 17, 2012

Australian economy is one of the largest Asian economies that recently suffered from global demand weakness, also its negative effect on the nation’s growth, where the RBA is looking forward …

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Don’t Get Trapped by the Lost Equity Percentag

April 17, 2012

One of the reasons that we stress good Money Management principles at FXCM is that as a trading account goes more and more negative, the challenge of getting out of the “hole” and back …

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Coca-Cola posts USD2.05b Q1 profit

April 17, 2012

(MENAFN) Coca-Cola Co said that profit for the first quarter grew to USD2.05 billion, compared with USD1.90 billion in last year’s same period, reported Reuters. The world’s largest soft drink …

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Toshiba Tec to acquire an IBM business in USD850m deal

April 17, 2012

(MENAFN) Toshiba Tec Corp said that in the second half of June or in July, the company plans to acquire IBM Corp’s point-of-sale terminal business for USD850 million, reported Reuters. The …

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Marks & Spencer posts 0.8% rise in Q1 sales

April 17, 2012

(MENAFN) Marks and Spencer Group PLC said that during the first quarter, the group’s sales were up 0.8 percent, reported AP. The company added that sales in the UK also rose slightly by 1.2 …

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Malaysian Proton to introduce new sleek sedan

April 17, 2012

(MENAFN) Malaysia’s Proton said that it would introduce a new sleek sedan in order to boost overseas sales, reported AP. The country’s national automaker added that the Preve would be the firm’s …

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ENRC completes USD600m buyout of a Kazakh miner

April 17, 2012

(MENAFN) Eurasian Natural Resources Corporation (ENRC) finalized the procedures of a USD600 million acquisition deal of a majority interest in Kazakhstan coal producer Shubarkol Komir, AP …

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European futures fluctuate before the opening on Tuesday

April 17, 2012

European equities futures fluctuated before the opening on Tuesday as investors await the European bond auction. The European market rebounded yesterday to close in green areas after the significant …

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GBP/USD Classical Technical Report 04.17

April 17, 2012

GBP/USD: Failure to establish any fresh momentum on the recent break above 1.6000, followed by an aggressive bearish reversal now suggests that the market could finally be looking to carve a top …

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EUR/USD Classical Technical Report 04.17

April 17, 2012

EUR/USD: The latest round of setbacks have stalled ahead of some key multi-week support by 1.3000 and from here, we still can not rule out risks for additional consolidation above 1.3000 before …

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China’s overseas direct investment soars 94.5% in Q1

April 17, 2012

(MENAFN) China’s Ministry of Commerce (MOC) said that the country’s overseas direct investment (ODI) in the first quarter soared 94.5 percent from a year earlier to USD16.55 billion, reported Xinhua …

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GBP/JPY Classical Technical Report 04.17

April 17, 2012

GBP/JPY: The market is finally in the process of correcting following the latest surge to fresh 2012 highs by 133.50. From here, we see risks for further weakness towards the 125.00 area, but …

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USD/CAD Classical Technical Report 04.17

April 17, 2012

USD/CAD: Our constructive outlook remains intact despite the latest interday pullback with the market largely locked in a medium-term consolidation ahead of what we believe will be an eventual …

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AUD/USD Classical Technical Report 04.17

April 17, 2012

AUD/USD: Our bearish outlook in this market is being reaffirmed with the latest pullback and we continue to project deeper setbacks over the coming days and weeks back below parity. A fresh lower …

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Risk aversion supports the Dollar during the Asian session

April 17, 2012

Dollar started today’s session high against other major currencies in a process called risk aversion from investors what increase the demand on feds currency, while investors are watching …

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Afghans at the crossroads

April 17, 2012

(MENAFN – Khaleej Times) The once remarkable gains in protecting and promoting equality between women and men in Afghanistan are now facing their most serious challenges. Two questions must be …

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The lucky lottery of birth

April 17, 2012

(MENAFN – Khaleej Times) As former Massachusetts governor Mitt Romney begins to pull decisively ahead of his opponents in the race for the Republican nomination for US Presidency, analysts are …

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Taleban blitz

April 17, 2012

(MENAFN – Arab News) Well-coordinated series of attacks by the Taleban militia on a number of high profile locations across Kabul and at least three provinces of Afghanistan on Sunday is a highly …

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Mattel posts 53% drop in Q1 profit

April 16, 2012

(MENAFN) Mattel said that profit plunged 53 percent in the first quarter to USD7.8 million, compared with USD16.6 million in 2011′s same period, reported AP. The El Segundo, California-based firm …

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Geithner says Buffett rule will not harm US economy

April 16, 2012

(MENAFN) US Treasury Secretary, Timothy Geithner, said that the Buffett rule, proposed by President Barack Obama, will not harm the country’s economy, reported The Peninsula. Geithner added that …

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Worries continue in markets on ongoing rise in Spanish bond yields

April 16, 2012

Worries remained predominant in markets on Monday after the rise in Spanish 10-year bond yield above 6%, raising speculations the euro area’s fourth-largest economy will soon ask for an …

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European markets are headed for a new bearish start

April 16, 2012

European stocks futures signaled a negative start before the opening on Monday as anxiety dominates the global markets regarding the euro zone debt crisis. The Spanish bond yields rose to alarming …

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