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German business confidence rises in April

by on April 21, 2012

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(MENAFN – Saudi Press Agency) German business confidence posted a surprise increase in April, amid optimism about the growth outlook for Europe’s biggest economy, dpa cited a key survey released …

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German business confidence rises in April

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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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IMF’s bid for funds just part of Europe’s struggle

April 21, 2012

(MENAFN – Saudi Press Agency) When the International Monetary Fund meets this weekend, its top goal will be as simple as it is difficult: Get member nations to pledge many more billions in aid – in …

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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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US DuPont records USD1.5b profit in Q1

April 19, 2012

(MENAFN) US chemicals maker DuPont reported USD1.49 billion net profit in the first quarter from USD1.43 billion made a year earlier, AP reported. The firm said its positive results were driven …

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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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US Qualcomm posts USD2.23b Q2 profit

April 19, 2012

(MENAFN) Qualcomm Inc. said that income in the second quarter more than doubled to USD2.23 billion, from USD999 million in the same period a year earlier, reported AP. The mobile phone chipmaker …

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IMF raises USD320b to tackle euro-zone debt crisis

April 19, 2012

(MENAFN) The International Monetary Fund’s (IMF) Managing Director, Christine Lagarde, said that the fund managed to secure USD320 billion in order to handle the euro zone debt crisis, reported …

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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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Chinese steelmakers post USD164.1m loss in Q1

April 19, 2012

(MENAFN) China Iron and Steel Association (CISA) said that the country’s steelmakers incurred USD164.1 million losses during the first quarter, reported Xinhua News. The CISA attributed the first …

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IMF says Europe’s economy may undergo mild recession in 2012

April 19, 2012

(MENAFN) The International Monetary Fund (IMF) said that Europe’s economy may go through a mild recession in 2012, as European banks are expected to reduce lending in order to save more capital, …

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Stanley Black & Decker says Q1 profit drops to USD121.8m

April 19, 2012

(MENAFN) Stanley Black & Decker Inc. said that profit in the first quarter fell to USD121.8 million, compared with USD158.7 million in the same period a year ago, reported AP. The New …

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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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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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U.S. Lifts Sanctions on Some Aid Projects on Myanmar

April 19, 2012

(MENAFN – Saudi Press Agency) The United States Treasury relaxed sanctions onØ¢ MyanmarØ¢ on Tuesday to permit financial transactions to support certain humanitarian and development projects in the …

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U.S. economy gradually healing

April 19, 2012

(MENAFN – Kuwait News Agency (KUNA)) U.S. Secretary of Treasury Timothy Geithner affirmed here Wednesday that the U.S. economy is “gradually healing” and “gradually getting stronger.” Speaking …

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Iran’s nuclear grass eaters

April 19, 2012

(MENAFN – Jordan Times) After long years of failed international efforts to end Iran’s cunning drive to develop nuclear weapons, the question today is no longer whether the West can prevent the …

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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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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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Master the Concept of Greed-Free Trading

April 18, 2012

“Greed has cost me more than anything else.” “How can I control greed??? That has been my number 1 problem.” The above two quotes came from emails sent to me from two …

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EU annual inflation at 2.9 pct

April 18, 2012

(MENAFN – Kuwait News Agency (KUNA)) The annual inflation in the 27-member European Union was 2.9 percent in March unchanged compared with February. A year earlier the rate was 3.1 percent. The …

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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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IMF welcomes pledges by Nordic countries to increase commitment

April 18, 2012

(MENAFN – Kuwait News Agency (KUNA)) Chief of the International Monetary Fund (IMF) Christine Lagarde welcomed here Tuesday the announcements made by Denmark, Norway and Sweden that they will …

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IMF sees Italy missing budget deficit targets

April 18, 2012

(MENAFN – Saudi Press Agency) The International Monetary Fund is predicting that Italy will miss its budget deficit targets this year and next and won’t balance its budget until at least 2018 – …

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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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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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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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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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Euro zone inflation revised up to 2.7% in March

April 17, 2012

(MENAFN) Eurostat, the EU’s statistics office, said that inflation in the euro zone was revised up to 2.7 percent, compared with initial forecasts of 2.6 percent, reported AP. The agency added …

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UK’s inflation up to 3.5% in March

April 17, 2012

(MENAFN) UK’s Office for National Statistics said that last month, the country’s inflation went up to 3.5 percent, reported AP. The agency added that the rise was driven by higher food and …

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US Teekay Corp. to sell 13 vessels for USD455 million

April 17, 2012

(MENAFN) Oil tanker operator Teekay Corp. plans to give up almost all of its directly-owned large vessels to its unit Teekay Tankers Ltd. for USD455 million, AP reported. The company will sell 13 …

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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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USD/JPY Classical Technical Report 04.17

April 17, 2012

USD/JPY:The market continues to correct from the recent 2012 highs established by 84.20 several days back and risks still exist for additional setbacks into the 79.00-80.00 area before considering …

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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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USD/CHF Classical Technical Report 04.17

April 17, 2012

USD/CHF: Our core constructive outlook remains well intact with the latest setbacks very well supported by psychological barriers at 0.9000. It now looks as though the market could be looking to …

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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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Caterpillar to sell Peruvian distribution business for USD75m

April 17, 2012

(MENAFN) Caterpillar Inc. said that it would sell its distribution and support business in Peru to Peruvian Ferreyros SAA in a USD75 million deal, reported AP. The heavy equipment maker added …

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Session focus on debt auctions and inflation data

April 17, 2012

The market tension remains evident and fears over the stability of the euro area remains the market buzz. Investors are closely monitoring the debt market developments and surely the auctions from …

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Scandis Well Offered on Rallies Against Euro and USD as Expected

April 17, 2012

Eur/Sek Setbacks have once again been very well supported ahead of the 8.75 level and the market looks to once again be attempting to carve a bottom in favor of renewed strength back towards the …

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US Dollar Index Classical Technical Report 04.17

April 17, 2012

US DOLLAR INDEX: The market remains locked in a multi-day consolidation and should continue to chop between the 9,600-10,100 area. Overall, we do retain a bullish outlook given the broader …

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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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EUR/JPY Classical Technical Report 04.17

April 17, 2012

EUR/JPY:The market is finally in the process of correcting following the latest surge to fresh 2012 highs just over 111.00. From here, we see risks for further weakness towards the 103.00 area, …

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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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NZD/USD Classical Technical Report 04.17

April 17, 2012

NZD/USD: The market has been locked in a sideways chop over the past several sessions to temporarily delay our bearish outlook. However, any rallies towards 0.8300 are viewed as a formidable …

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