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Renault opens low-cost plant in Morocco

by on February 11, 2012

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(MENAFN) French automaker Renault inaugurated a low-cost plant in Tangier north of Morocco as it seeks to tap European demand for no-frills vehicles to offset the overall decline in the region’s car …

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Renault opens low-cost plant in Morocco

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Iran oil output, exports expected to fall 9% in 2012: Analysts

by on February 11, 2012

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(MENAFN) the International Energy Agency (IEA) reported a decline in Iran’s crude output and exports, following the latest sanctions from the European Union over its controversial nuclear programme, …

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Iran oil output, exports expected to fall 9% in 2012: Analysts

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Air France-KLM plans eyes USD2.53b debt slash

February 11, 2012

(MENAFN) Air France-KLM said that by the end of 2014, the airline would reduce its debt by USD2.53 billion, reported Gulf News. The Franco-Dutch group added that it would suspend staff salaries, …

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Greece on strike as bailout deal in limbo

February 11, 2012

(MENAFN – Saudi Press Agency) Greek railway, ferry and public transport schedules are suspended while public services face severe disruptions as unions launch a two-day strike against further …

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Switzerland: An icon of endless natural beauty

February 11, 2012

(MENAFN – Arab News) Switzerland does indeed remain a premier icon of natural beauty the world over. A recent trip covered the cities of Montreux, Interlaken and Lucerne, considered by some in the …

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Yen Falls as Japanese Economic Data Falters More than Expected

February 9, 2012

THE TAKEAWAY:Japanese Machine Orders fell 7.1 percent since last month and rose 6.5 percent since last year > Economic data is weaker than what analysts expected > USDJPY rallies to …

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Major Currencies Unfazed as Chinese Inflation Unexpectedly Jumps

February 9, 2012

THE TAKEAWAY: Chinese inflation unexpectedly accelerated in December > AUD, NZD dip slightly on lowered Chinese rate cut bets > Impact fades quickly as Eurozone issues stay in focus Chinese …

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UK’s CB to inject another USD79b into economy

February 9, 2012

(MENAFN) The Bank of England said that it would pump an additional USD79 billion into the country’s economy, reported AP. The central bank added that the step came as part of a program that …

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Daimler posts 57% surge in Q4 profit

February 9, 2012

(MENAFN) Daimler AG said that profit in the fourth quarter surged 57 percent to USD2.36 billion, reported AP. The German carmaker added that sales of Mercedes luxury cars surged 44 percent in the …

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Pepsico plans to slash 3% of its workforce

February 9, 2012

(MEANFN) PepsiCo unveiled a new restructure plan shedding 8,700 jobs aimed at offsetting high commodity costs and expand investments in advertising and marketing in North America, AP …

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ECB keeps benchmark unchanged

February 9, 2012

(MENAFN) The European Central Bank decided to keep its key interest rate unchanged at a record low 1 percent, AP reported. The ECB left interest rates unchanged as it waits to see if the eurozone …

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Finnair reports USD43.3m loss in Q4

February 9, 2012

(MENAFN) Finnair PLC reported USD43.27 million in loss in the fourth quarter, USD7.98 million down from a year earlier, AP reported. The company said also that revenue in the period grew 12 …

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Denmark’s trade records surplus of USD14.3b in 2011

February 9, 2012

(MENAFN) Danmarks Statistik, the Danish national statistical agency, said that driven by strong exports to regional markets, the country’s trade account recorded a surplus of USD14.3 billion in …

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BMW to recall 2,231 vehicles in S Korea

February 9, 2012

(MENAFN) South Korea’s transportation ministry said that due to malfunctioning cooling pumps, BMW would recall 2,231 passenger vehicles in the country, reported Xinhua News. The ministry added …

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France Q1 growth at zero GDP: CB

February 9, 2012

(MENAFN) The French Central Bank said that the country’s economy in 2012′s first quarter would be expected to record a zero growth, reported Xinhua News. Banque de France added that at the end of …

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China’s Jan inflation rises to 4.5%

February 9, 2012

(MENAFN) China said that in January, the country’s inflation rebounded to 4.5 percent over a year earlier from 4.1 percent recorded in December, reported Khaleej Times. Moreover, in the period, …

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US Jan budget deficit down to USD27b

February 9, 2012

(MENAFN) The Congressional Budget Office (CBO) said that last month, the budget deficit contracted by around half to USD27 billion, from USD50 million in 2011′s same period, reported Khaleej …

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Greece to cut 15k public jobs in 2012

February 9, 2012

(MENAFN) The Greek government said that in 2012, it would slash 15,000 jobs from the public sector, which employs around 750,000 people, reported Tehran Times. The Greek administrative reform …

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Iran’s exports of handmade carpets reach USD439m in 10 months

February 9, 2012

(MENAFN) Iran’s National Carpet Center said that during the first 10 months of the current Iranian calendar year, the country’s exports of handmade carpets reached USD439 million, reported Tehran …

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EU raises imports from Iranian crude oil in 2011′s Q3 to 7%

February 9, 2012

(MENAFN) The EU said that in 2011′s third quarter, the region imports of Iranian crude reached 700,000 barrels per day (bpd), with an increase of 7 percent from the previous quarter, reported Tehran …

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Tax reforms not working

February 9, 2012

(MENAFN – Khaleej Times) Protectionist-sounding noises coming from the United States may raise concerns abroad, but are not unusual in an election year. A closer look reveals more bark than …

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Greek party leaders arrive for crucial debt talks

February 9, 2012

(MENAFN – Saudi Press Agency) Greece’s coalition leaders have arrived for crucial austerity talks with the country’s prime minister, to review a draft deal on steep cutbacks demanded by creditors in …

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Romney still struggles to seal the deal

February 9, 2012

(MENAFN – Arab News) Mitt Romney’s march to a possible Republican presidential nomination just got a lot longer and harder. Front-runner Romney left Tuesday’s round of three nominating contests …

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Demand for aviation personnel in Mideast: Challenge and opportunit

February 8, 2012

(MENAFN – Arab News) Astounding progress has been made on the vision to transform the Middle East into a global crossroads – a diversified economic and transportation hub, with cities such as Dubai, …

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FINANCE VIDEO: Thundelarra Exploration (ASX:THX) Managing Director Brett Lambert Presents To Sydney Capital Markets at Investorium.tv

February 8, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp FINANCE VIDEO: Thundelarra Exploration (ASX:THX) Managing Director Brett Lambert presented live to Sydney Capital Markets at Investorium.tv, …

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The 4th Deepwater Asia Congress 2012 to Kick Off on May 23-25, in Bali, Indonesia

February 8, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp At present, offshore oil accounts for about 33 percent of the world total output, and the number will reach 35 in ten years, in which, …

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Australia’s BHP Billiton’s H1 profit down 5.5%

February 8, 2012

(MENAFN) Anglo-Australian BHP Billiton Ltd. said that in the June to December period, the firm’s profit fell 5.5 percent to USD9.9 billion, compared with USD10.5 billion in 2010′s same period, …

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German exports grow USD1.3tr in 2011

February 8, 2012

(MENAFN) German exports rose 11.4 percent to USD1.3 trillion last year, but it may decline this year on slower economy, AP reported. The Federal Statistical Office said that Germany exported …

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Nissan reports 3.2% increase in Q3 profit

February 8, 2012

(MENAFN) Japan’s Nissan Motor Co. reported 3.2 percent increase in profits in it’s fiscal third quarter over strong sales, AP reported. Nissan said it made a profit of USD1.07 billion in the …

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France’s 2011 trade deficit jumps 35.1%

February 8, 2012

(MENAFN) France’s customs services office said that last year, trade deficit surged by 35.1 percent from the previous year to USD91.2 billion, reported Xinhua News. The customs figures showed …

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US Centene reports USD30m profit in Q4

February 8, 2012

(MENAFN) US Medicaid insurer Centene Corp.’s reported 19 percent increase in fourth quarter profits, as expanding business in several states helped raise premiums and membership, AP Reported. …

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Global sugar surplus to contract 43% in 2012-13 season

February 8, 2012

(MENAFN) Swiss Kingsman SA said that due to growing consumption, in the 2012-2013 season, which starts in October, global sugar surplus would be expected to decline 43 percent from 9.7 million tons …

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Market Vibrations: News and Commentary from the Europe Desk (0855 GMT)

February 8, 2012

0855 GMT: A report is going around that Germany has proposed postponing the majority of new Greek aid. Apparently the headline comes from FT Deutschland. However, the Greek newspaper Naftemboriki …

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Venezuela’s annual inflation down to 26% in Jan

February 8, 2012

(MENAFN) Venezuela’s Central Bank said that annual inflation rate dropped to 26 percent in January, compared with 27.6 percent at the end of 2011, reported AP. The bank added that last month’s …

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IMF Cuts China’s 2012 Economic Growth to 8.25%

February 8, 2012

(MENAFN – Qatar News Agency) The International Monetary Fund (IMF) has cut its forecast for China’s 2012 economic growth to 8.25% from the 9% projected in September, and it warned that exports would …

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Japan’s Jan service sector sentiment index down to 44.1

February 8, 2012

(MENAFN) Japan’s Cabinet Office said that in January, the country’s service sector confidence index dropped to 44.1 from 47 in December, reported Reuters. The office’s survey included taxi …

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Euro/Scandi Crosses Looking to Break Higher Post Short-Term Weakness

February 8, 2012

Eur/SekThe market remains under some intense pressure, with the latest setbacks threatening a return to the key lows from early 2011 by 8.70. However, daily studies are now tracking in oversold …

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NZD/USD Classical Technical Report 02.08

February 8, 2012

NZD/USD: Although the market remains very well bid after taking out the key October highs by 0.8240, daily studies are highly overbought and warn of a near-term pullback. From here, next key …

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GBP/JPY Classical Technical Report 02.08

February 8, 2012

GBP/JPY: The cross continues to show evidence of the formation of a meaningful base, with the recent break back above 122.05 confirming a fresh higher low by 119.60and opening a fresh upside …

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USD/JPY Classical Technical Report 02.08

February 8, 2012

USD/JPY:The market could once again be looking to carve an interim base after setbacks stalled shy of the record lows from October by 75.55. A bullish reversal day from last Friday has shown some …

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GBP/USD Classical Technical Report 02.08

February 8, 2012

GBP/USD:The latest break back above 1.5800 now compromises a multi-week consolidation, with the pair now looking to push towards next key resistance by 1.6000. However, despite the upside move, we …

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AUD/USD Classical Technical Report 02.08

February 8, 2012

AUD/USD: Although the market remains very well bid after taking out the key October highs by 1.0755, daily studies are highly overbought and warn of a near-term pullback. From here, next key …

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EUR/USD Classical Technical Report 02.08

February 8, 2012

EUR/USD: The latest multi-session consolidation has been broken, with the pair clearing resistance at 1.3235 and now opening the door for a test of the next key level in the form of the 100-Day …

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Disney posts 12% increase in Q1 net income

February 8, 2012

(MENAFN) The Walt Disney Co. said that in 2011′s last quarter, net income jumped 12 percent to USD1.46 billion, compared with USD1.30 billion, reported AP. The firm added that revenue in the …

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N. Korea’s hunger test

February 8, 2012

(MENAFN – Khaleej Times) An anxious world, watching for signs of instability after the death of Kim Jong Il, has been reassured for the time being. After 37 years of brutal rule marked by firing …

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The RBA unexpectedly kept its benchmark interest rate unchanged

February 7, 2012

Today was the rate decision by the Reserve Bank of Australia, where unexpectedly it kept its benchmark interest rate steady at 4.25%, as it said that the inflation rates will remain within the …

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Enerji Limited (ASX:ERJ) Evaluating Sites for Opcon Powerboxes in Queensland and Western Australia with Energy Developments

February 7, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp Perth-based clean power company Enerji Limited (ASX:ERJ) is reviewing, with Energy Developments Ltd, several of their sites for Enerji’s …

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Japan’s current-account surplus narrows in December

February 7, 2012

Japan’s current-account surplus narrowed in December on strength as result for the unceasing yen’s appreciation, which is weakening the global demand for the Japanese products and increasing …

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German industrial production falls the most since 2009

February 7, 2012

(MENAFN) A report, issued by German Economy Ministry, showed that the nation’s industrial output declined the most since 2009 in December, Reuters reported. The official data showed 2.9 percent …

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Swiss Glencore, Xstrata unite under a USD90b entity

February 7, 2012

(MENAFN) Swiss mining company Xstrata and Glencore reached a USD90 billion merger deal that will see the creation of the world’s fourth largest natural resources company, AP reported. Xstrata CEO …

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