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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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China January exports fall 0.5% yr/yr

by on February 11, 2012

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(MENAFN – Saudi Press Agency) China’s exports in January fell 0.5 percent from a year earlier, the official Xinhua news agency reported on Friday, well below market expectations for a rise of 4.8 …

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China January exports fall 0.5% yr/yr

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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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China Jan exports, imports down on weak global demand

February 10, 2012

(MENAFN) China’s customs said that last month, the country’s trade dropped due to a decline in global demand and the Lunar New Year holiday, reported AP. The customs added that in the period, …

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NCS International Certifies Worlds First Company Against Global Sustainable Biofuels Benchmark

February 9, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp NCS International (“NCSI”) has certified the world’s first organization against the Principles and Criteria of the Roundtable on Sustainable …

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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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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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Argentina to Raise Falklands UK ‘Militarization’ at UN

February 9, 2012

(MENAFN – Qatar News Agency) Argentina is to make a formal complaint to the United Nations about British “militarization” around the disputed Falkland Islands. Argentina’s President Cristina …

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Eight Killed in US Drone Strike in Pakistan

February 9, 2012

(MENAFN – Qatar News Agency) A missile attack by an unmanned US drone aircraft in north-west Pakistan has killed eight people, Pakistani security officials said. The missiles struck a camp about …

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Swiss Unemployment Rate Rises to 10-Month High

February 9, 2012

(MENAFN – Qatar News Agency) Switzerland’s unemployment rate rose to its highest level in 10 months in January as companies trimmed staff to cope with slowing demand for their products, data …

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Yen Little Changed as Japanese Consumer Confidence Prints Higher

February 9, 2012

THE TAKEAWAY: The Japanese Consumer Confidence Index rose > Though the increase from the previous month was unexpected, its effect on markets was minimal > No change in USDJPY trend The …

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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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Bridge southern Europe and the Mediterranean

February 9, 2012

(MENAFN – Arab News) AT the beginning of 2012, Europe faces two simultaneous crises. Alongside the continuing instability of the euro zone lies the risk that the Arab uprisings could implode if …

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More than just Great Firewall awaits Facebook in China

February 9, 2012

(MENAFN – Arab News) When it comes to China, Facebook should consider itself forewarned. Cracking the world’s biggest Internet population might seem an obvious ambition for the social networking …

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Gandhi dynasty scion takes on low caste ‘queen’ in India vote

February 9, 2012

(MENAFN – Arab News) Millions of voters went to the polls in India’s most populous and politically important state on Wednesday, the first stage of an election that tests support for Prime Minister …

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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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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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Nokia plans to slash 8% of workforce

February 8, 2012

(MENAFN) Nokia said that the firm would slash 8 percent of its workforce in 2012, reported Reuters. The firm, which had 130,000 staff at the end of 2011, including Nokia Siemens, added that the …

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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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Levi Strauss Q4 income down to USD44m

February 8, 2012

(MENAFN) Levi Strauss & Co. said that net income in the fourth quarter dropped to USD44 million from USD86 million in 2010′s same period, reported AP. The company added that revenue for the …

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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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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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USD/CAD Classical Technical Report 02.08

February 8, 2012

USD/CAD: Our constructive outlook remains intact despite the latest interday pullback with the market largely still consolidating around parity ahead of what we believe will be an eventual retest …

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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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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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Paraguay reports sharp drop in soy production

February 8, 2012

(MENAFN – Saudi Press Agency) Paraguayan exporters said that production of soy is likely to fall 47 percent in the current harvest, according to AP. The nation’s chamber of cereal exporters said …

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US January deficit fell sharply to $27 bln-CBO

February 8, 2012

(MENAFN – Saudi Press Agency) The U.S. budget deficit fell by nearly half in January compared to a year earlier as tax collections from individuals rose and outlays fell, Reuters quoted the …

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Global oil demand to grow by 50k bpd in 2012: EIA

February 8, 2012

(MENAFN) The US Energy Information Administration (EIA) said that in 2012, global oil demand growth would be forecasted to expand by 50,000 barrels per day (bpd) to reach 1.32 million bpd, reported …

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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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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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French Lagardere forecasts USD1.2b loss in 2011

February 7, 2012

(MENAFN) France’s largest publisher Lagardere SCA forecasted USD1.2 billion impairment losses in 2011 on lower value of its Unlimited sports- marketing division and a stake at the Canal Plus France …

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Glencore and Xstrata agree on an all-share merger worth $90 billion  

February 7, 2012

Glencore, the world’s largest diversified commodities trade, and Xstrata, the world’s fourth largest diversified miner, agreed on an all-share merger worth $90 billion today, making the largest deal …

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US Dollar Index Classical Technical Report 02.07

February 7, 2012

US DOLLAR INDEX: The market remains locked in a multi-day consolidation and continues to chop between the 9,700-10,100 area. Overall, we do retain a bullish outlook given the broader recovery …

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AUD/USD Classical Technical Report 02.07

February 7, 2012

AUD/USD: The latest surge looks like it could finally be ready to stall, with the market exceeding key resistance by the highs from October in the 1.0700’s and jumping into the …

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GBP/USD Classical Technical Report 02.07

February 7, 2012

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

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USD/CHF Classical Technical Report 02.07

February 7, 2012

USD/CHF: Although our overall outlook remains intensely bullish, the market is in the process of some interday consolidation before the next major upside extension beyond 0.9600 and towards …

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USD/JPY Classical Technical Report 02.07

February 7, 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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Australia’s Jan construction activity down 1.2 points

February 7, 2012

(MENAFN) The Australian Industry Group (Ai Group) and Housing Industry Association (HIA) said that last month, the country’s construction activity dropped 1. 2 points to 39.8, reported Xinhua …

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IMF lowers China’s 2012 economic growth to 8.25%

February 7, 2012

(MENAFN) The International Monetary Fund (IMF) said that it lowered its growth forecast for China’s economy in 2012 to 8.25 percent from earlier forecasts of 9 percent, reported Xinhua News. The …

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Euro-zone’s govt debt falls to 87.4% by end of Q3

February 7, 2012

(MENAFN) Eurostat, the statistics office of the European Union (EU), said that by the end of last year’s third quarter, the euro-zone’s government debt slipped to 87.4 percent of gross domestic …

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Toyota posts 51% surge in Q3 profit

February 7, 2012

(MENAFN) Toyota Motor Corp said that third-quarter operating profit soared 51 percent to USD1.95 billion, beating earlier forecasts, reported Reuters. Japan’s top carmaker added that in the …

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Market Vibrations: Live news and commentary from the Europe desk (0630 GMT)

February 7, 2012

0630 GMT:Aussie is the big news this morning in Europe, with the RBA surprising the market by keeping rates steady at 4.25% instead of lowering it as had been expected. Aussie is strong on the …

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American Airlines’ Jan intl traffic up 5%

February 7, 2012

(MENAFN) American Airlines said that although the company filed for bankruptcy protection, the carrier’s international traffic in January went up 5 percent, reported AP. The airline added that in …

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Asian Activities Report for February 7, 2012: GCL-Poly Energy Holdings (HKG:3800) Forms a Joint Venture with NRG Solar to Enter the US Solar Market

February 6, 2012

http://www.abnnewswire.net/rss2/menafn/abn_menafn_en.asp GCL-Poly Energy Holdings Limited (HKG:3800), a leading polysilicon and wafer supplier as well as a top green energy enterprise in China, has …

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