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Print - 2012-04-30
Smaller managed futures funds tempt investors

Smaller managed futures funds tempt investors

Smaller managed futures funds able to exploit niche commodity markets and the most volatile conditions are increasingly likely to win assets from investors disappointed with returns from the big trend-followers that dominate the industry. Managed futures,
Published 30 Apr, 2012 12:00am
Sarkozy's odds improve but remain against him

Sarkozy's odds improve but remain against him

Strong support for far-right leader Marine Le Pen in the first round of France's presidential election has lifted Nicolas Sarkozy's hopes of clinching a second term, but he will struggle to win over enough of her voters to keep him in power.
Published 30 Apr, 2012 12:00am
Colombia central bank to hold rate

Colombia central bank to hold rate

Colombia's central bank will hold the benchmark interest rate steady at its meeting this week, an indication that a year-long cycle of rate hikes has curbed inflation concerns, a Reuters poll showed on Tuesday. The central bank will hold the interest rate
Published 30 Apr, 2012 12:00am
BoJ should eye longer-dated JGBs

BoJ should eye longer-dated JGBs

The Bank of Japan should signal its commitment to beating deflation by gradually extending the duration of government bonds it targets under its asset-buying scheme and eventually buying those with up to 10 years until maturity, a senior ruling party lawm
Published 30 Apr, 2012 12:00am
BoJ should eye longer-dated JGBs

BoJ should eye longer-dated JGBs

The Bank of Japan should signal its commitment to beating deflation by gradually extending the duration of government bonds it targets under its asset-buying scheme and eventually buying those with up to 10 years until maturity, a senior ruling party lawm
Published 30 Apr, 2012 12:00am
Brazil has room to test lower interest rates

Brazil has room to test lower interest rates

Brazil has "a window of opportunity" to test lower interest rates this year, given the deflationary forces currently at play in the global economy, the president of the country's state development bank said on Monday. "There is no reason in Brazil not to
Published 30 Apr, 2012 12:00am
No more Bank of England QE, chance of earlier rate hike rising

No more Bank of England QE, chance of earlier rate hike rising

The Bank of England is probably near the end of its asset purchase programme, with chances rising of a rate hike coming sooner as British inflation stubbornly sticks above target, a Reuters poll found on Wednesday.
Published 30 Apr, 2012 12:00am
Car financing helps Daimler beat forecasts

Car financing helps Daimler beat forecasts

German luxury carmaker Daimler reported a surprise increase in first-quarter operating profit, helped by its financial services business that offers loans and leases to car buyers and is benefiting from low interest rates. The margin at Daimler's Mercedes
Published 30 Apr, 2012 12:00am
Oil to rise on Iran, capacity concerns after second quarter hiccup

Oil to rise on Iran, capacity concerns after second quarter hiccup

Oil will rally through the year on Iranian tensions and as top producers pump at near full capacity though the second quarter looks set for a traditional seasonal weakening in prices, a Reuters poll showed on Thursday. Analysts remain bullish on the overa
Published 30 Apr, 2012 12:00am
Trump flies into for Soviet Georgia for tower project

Trump flies into for Soviet Georgia for tower project

American property mogul Donald Trump flew into the former Soviet republic of Georgia on Saturday to expand his global real estate empire, lending his name to a glitzy tower on the Black Sea coast there. Unveiling a $250 million residential high-rise plann
Published 30 Apr, 2012 12:00am
Turkish growth seen weaker, inflation above target

Turkish growth seen weaker, inflation above target

The Turkish economy, one of the world's best performers last year, will not see such heady gains in 2012 as the central bank's complicated policy mix aimed at taming inflation hampers growth, a Reuters poll showed on Thursday.
Published 30 Apr, 2012 12:00am
Zurich Insurance sees solid growth in LatAm business

Zurich Insurance sees solid growth in LatAm business

Switzerland's Zurich Insurance Group expects Latin America to account for almost half of its new emerging market life insurance business by the end of next year as solid economic growth and growing prosperity boost demand for insurance policies.
Published 30 Apr, 2012 12:00am
Politics force growth back on to Europe's agenda

Politics force growth back on to Europe's agenda

It's early days, but powerful political currents could be sweeping Europe away from its hair-shirt obsession with reducing debt and deficits regardless of the economic cost. Any course correction will be a tug on the tiller rather than a U-turn.
Published 30 Apr, 2012 12:00am
Russia's Razgulay eyes share, asset sales

Russia's Razgulay eyes share, asset sales

Russian grain and sugar producer Razgulay aims to lower its debt this year by selling new shares and non-core assets to turn around a loss making business, its new chief executive told Reuters in an interview. Mikhail Galuev also said the group's capital
Published 30 Apr, 2012 12:00am
Russia's Razgulay eyes share, asset sales

Russia's Razgulay eyes share, asset sales

Russian grain and sugar producer Razgulay aims to lower its debt this year by selling new shares and non-core assets to turn around a loss making business, its new chief executive told Reuters in an interview. Mikhail Galuev also said the group's capital
Published 30 Apr, 2012 12:00am
Zhongsheng on track to add 40 dealerships in 2012

Zhongsheng on track to add 40 dealerships in 2012

Auto dealer group Zhongsheng Group Holdings Ltd is on track to add 40 more showrooms in China by the end of the year, increasing its number of dealerships to about 180, its chairman and co-founder said on Friday.
Published 30 Apr, 2012 12:00am
US coal exports to China may double in 2012

US coal exports to China may double in 2012

US coal exports to China could more than double to over 12 million tonnes in 2012 thanks to depressed freight rates and a fall in domestic demand in the United States, the chief of top US coal exporter Xcoal Energy & Resources said.
Published 30 Apr, 2012 12:00am
Worst over for China, growth seen picking up steadily

Worst over for China, growth seen picking up steadily

China's economy has weathered the worst after reporting its slowest quarterly growth since the tail-end of the great financial crisis in the first three months of 2012, and is heading for a rebound in coming months, a Reuters poll showed.
Published 30 Apr, 2012 12:00am
Dow's new corn 'time bomb' or farmers' dream?

Dow's new corn 'time bomb' or farmers' dream?

A new biotech corn developed by Dow AgroSciences could answer the prayers of US farmers plagued by a fierce epidemic of super-weeds. Or it could trigger a flood of dangerous chemicals that may make weeds even more resistant and damage other important US c
Published 30 Apr, 2012 12:00am
BASF oil, gas unit offsets plastics weakness

BASF oil, gas unit offsets plastics weakness

BASF reported growing profit from its oil and gas unit as production ramped up in Libya, helping to offset the lower volumes and high raw material prices that weighed on its legacy chemicals and plastics businesses.
Published 30 Apr, 2012 12:00am
Chrysler, Hyundai, Volkswagen pull into auto sales fast lane

Chrysler, Hyundai, Volkswagen pull into auto sales fast lane

Automakers Volkswagen , Chrysler and Hyundai pulled away from rivals on Thursday, unveiling strong sales and profits driven by growth in the Americas and Asia Carmakers that rely heavily on European sales, by contrast, are struggling with cut-throat price
Published 30 Apr, 2012 12:00am
US dealers see less than 1 in 3 chance of QE3 stimulus

US dealers see less than 1 in 3 chance of QE3 stimulus

Economists at most major Wall Street firms are assigning a less than one in three chance the Federal Reserve will undertake another massive round of monetary stimulus in an effort to boost the economy, a Reuters poll on Wednesday showed. The median of for
Published 30 Apr, 2012 12:00am
Sanofi strong in emerging markets as rivals flag

Sanofi strong in emerging markets as rivals flag

French drugmaker Sanofi posted better-than-expected quarterly results, bolstered by strong emerging markets, breaking with a trend of earnings misses by European rivals AstraZeneca and GlaxoSmithkline. Sanofi performed strongly in China, Brazil and Russia
Published 30 Apr, 2012 12:00am
State Bank of India may not cut lending rates soon

State Bank of India may not cut lending rates soon

State Bank of India, the country's biggest lender, may not cut lending rates in the near term as costs of deposits continue to be high, Chairman Pratip Chaudhuri said on Monday, after the bank lowered its deposit rates.
Published 30 Apr, 2012 12:00am
Direct bank recapitalisation by eurozone funds unlikely

Direct bank recapitalisation by eurozone funds unlikely

Euro zone countries are unlikely to agree to change current rules to allow their temporary or permanent bailout funds to directly recapitalise banks without the intermediation of governments, euro zone officials said on Thursday.
Published 30 Apr, 2012 12:00am
Gulf in China bond spreads shows foreigners' credit fears

Gulf in China bond spreads shows foreigners' credit fears

To foreign bondholders of Fosun International, concerns seem to be growing around the business prospects of the Chinese industrial conglomerate. To its onshore Chinese bondholders, however, the business outlook looks rosy.
Published 30 Apr, 2012 12:00am
Gulf in China bond spreads shows foreigners' credit fears

Gulf in China bond spreads shows foreigners' credit fears

To foreign bondholders of Fosun International, concerns seem to be growing around the business prospects of the Chinese industrial conglomerate. To its onshore Chinese bondholders, however, the business outlook looks rosy.
Published 30 Apr, 2012 12:00am
Global growth seen subdued, still heavily reliant on Asia

Global growth seen subdued, still heavily reliant on Asia

The global economy is set to expand by a modest 3.3 percent this year as a still-smouldering euro zone debt crisis and a relatively slow US recovery continue to leave Asia as the main driver of growth, Reuters polls showed on Thursday.
Published 30 Apr, 2012 12:00am
EU needs gas pipeline investment

EU needs gas pipeline investment

The European Union needs new gas pipelines linking eastern and southern countries with western hubs to ensure security of supply, but regulatory uncertainties hamper investment in them, an executive at French utility GDF Suez said.
Published 30 Apr, 2012 12:00am
London Gatwick lures Asian airlines to fuel growth

London Gatwick lures Asian airlines to fuel growth

London's Gatwick airport aims to grow traffic by a third in the next decade by attracting long-haul carriers from emerging markets and taking advantage of capacity constraints at the capital's Heathrow hub, its chief executive told Reuters.
Published 30 Apr, 2012 12:00am
Credit Suisse, Barclays investors revolt over pay

Credit Suisse, Barclays investors revolt over pay

More than a quarter of shareholders at Credit Suisse and Barclays voted down the banks' pay plans on Friday, in a sign of investors catching up with popular outrage over bankers' pay.
Published 30 Apr, 2012 12:00am
Croatia will clear shipyard issue before EU entry

Croatia will clear shipyard issue before EU entry

Croatia is confident it will resolve the key issue of its heavily subsidised shipyards before joining the European Union in July 2013, the deputy prime minister in charge of EU affairs told Reuters on Thursday. Croatia has five major shipyards but only on
Published 30 Apr, 2012 12:00am
Spluttering economies to curtail earnings horizon

Spluttering economies to curtail earnings horizon

Exuberant global markets have taken a reality check this month on chronic US, Chinese and European growth concerns, and investors should hold companies' relatively rosy profit outlooks up for scrutiny too.
Published 30 Apr, 2012 12:00am
Ever-selective DFA sees growth in Asia, US 401(k)

Ever-selective DFA sees growth in Asia, US 401(k)

Dimensional Fund Advisors is notorious for not marketing to financial advisers, instead requiring advisers to take the initiative and do some homework to even be considered as clients. But that does not mean the $240 billion mutual fund company is not foc
Published 30 Apr, 2012 12:00am
Ever-selective DFA sees growth in Asia, US 401(k)

Ever-selective DFA sees growth in Asia, US 401(k)

Dimensional Fund Advisors is notorious for not marketing to financial advisers, instead requiring advisers to take the initiative and do some homework to even be considered as clients. But that does not mean the $240 billion mutual fund company is not foc
Published 30 Apr, 2012 12:00am
Russia warns EU Iran oil embargo will be costly

Russia warns EU Iran oil embargo will be costly

Russia pressed its case against new sanctions over Iran's nuclear programme on Friday, saying an European Union ban on purchasing Iranian oil would end up hurting the bloc's member countries. "The European Union is rejecting purchases of Iranian oil, even
Published 30 Apr, 2012 12:00am
Silver demand to rise 3-5 percent in 2012

Silver demand to rise 3-5 percent in 2012

Silver sales for industrial applications as well as for jewellery, coins, silverware and photography should climb 3 to 5 percent this year as end-users replenish inventories that ran low late last year due to an economic slowdown, said the head of Thomson
Published 30 Apr, 2012 12:00am
China Eastern to buy 20 Boeing 777-300s

China Eastern to buy 20 Boeing 777-300s

China Eastern Airlines will buy 20 Boeing 777-300 extended-range aircraft, Boeing said Friday, announcing a deal worth nearly $6 billion at list prices. "This additional commitment from one of the largest airlines in the world is a testament to the benefi
Published 30 Apr, 2012 12:00am
Europe gets more time for nuclear stress tests

Europe gets more time for nuclear stress tests

European states are to get extra time to carry out further tests on nuclear plants, to ensure they can withstand natural and man-made disasters, Energy Commissioner Guenther Oettinger said, before any laws to improve nuclear safety are proposed.
Published 30 Apr, 2012 12:00am
Glencore profits from metals backlog in Dutch port

Glencore profits from metals backlog in Dutch port

London Metal Exchange rules on the amount of stock released each day are playing to the advantage of Glencore, which is moving thousands of tonnes of metal to warehouses in the Dutch port of Vlissingen, industry sources say.
Published 30 Apr, 2012 12:00am
Populist surge threatens eurozone consensus

Populist surge threatens eurozone consensus

A surge of support for Eurosceptic, anti-immigration populists in the euro zone threatens to upend the mainstream political consensus in favour of austerity and budget discipline.
Published 30 Apr, 2012 12:00am
Gazprom to drill Bangladesh gas wells

Gazprom to drill Bangladesh gas wells

Russia's Gazprom will drill 10 wells to produce gas in Bangladesh under deals signed on Thursday with three state energy companies. Bangladesh Oil, Gas and Mineral Corporation (Petrobangla), - which owns the three state companies, will bear the entire $19
Published 30 Apr, 2012 12:00am
US retailers play catch-up in fashion speed race

US retailers play catch-up in fashion speed race

After years of losing customers to Europe-based retailers that give young shoppers fresh fashions more quickly, US clothes retailers are fighting back. To pick up speed, companies like Gap Inc, American Eagle Outfitters and Macy's Inc are placing smaller
Published 30 Apr, 2012 12:00am
China's Big Four banks hit by slowdown, costs

China's Big Four banks hit by slowdown, costs

China's Big Four banks' reported weaker-than-expected first-quarter earnings on Friday, with the sector facing growing pressure from a slowing economy and rising funding costs.
Published 30 Apr, 2012 12:00am
GM to add 600 dealerships to China network

GM to add 600 dealerships to China network

General Motors Co chairman Dan Akerson said Monday the automaker plans to open 600 dealerships in China this year, and nearly double production capacity despite a slowdown in sales growth. China is the world's biggest auto market by vehicles sold but sale
Published 30 Apr, 2012 12:00am
Nomura fourth quarter jumps on market boost, risks remain

Nomura fourth quarter jumps on market boost, risks remain

Nomura Holdings booked its biggest quarterly profit in 2-1/2 years on Friday, beating expectations on stronger Japanese stocks and trading gains, while cost cuts and overseas deals lay the foundation for an expected jump in profitability this year.
Published 30 Apr, 2012 12:00am
Germany shifts rhetoric to growth before French runoff

Germany shifts rhetoric to growth before French runoff

Germany expects the dilemma of boosting growth and employment while cutting debt to dominate a summit of EU leaders in June, a government spokesman said, in a sign Berlin is relaxing its focus on austerity as the way out of the bloc's crisis.
Published 30 Apr, 2012 12:00am
Japan must create new tech champions with M&A strategy

Japan must create new tech champions with M&A strategy

Twice during the two years it took to forge a three-way merger of small display makers in Japan, investment banker Fumiaki Sato had to talk a company back to the negotiating table with a blunt message: merge or die.
Published 30 Apr, 2012 12:00am
China house prices to fall further 10-20 percent by year-end

China house prices to fall further 10-20 percent by year-end

China's home prices likely will fall by a further 10 to 20 percent between now and the end of the year, after slipping 5 percent in the first quarter, a Reuters poll showed, enough to slow broader economic growth but not trigger a hard landing.
Published 30 Apr, 2012 12:00am
Canadian growth seen easing in 2012, lagging US

Canadian growth seen easing in 2012, lagging US

Canada's economy will lag the United States this year, slowing compared with 2011 and probably falling short of cheerier economic forecasts touted by the Bank of Canada earlier this week, a Reuters poll found on Thursday.
Published 30 Apr, 2012 12:00am
Tunisia sees tourists return after revolt

Tunisia sees tourists return after revolt

Tunisia hopes visitors from Russia, Asia and the United States and an "Open Skies" treaty with Europe will help tourism recover from the effect of last year's revolt that scared away foreigners, the country's top tourism official said. Visitor numbers sl
Published 30 Apr, 2012 12:00am
Wal-Mart employee starts petition for CEO's ouster

Wal-Mart employee starts petition for CEO's ouster

A deli manager at a Walmart store has started an online petition calling for the resignations of the retailer's chairman and chief executive officer in the wake of allegations that top management squelched an internal probe into bribery allegations.
Published 30 Apr, 2012 12:00am
Analysts cut US 2012 natgas price forecasts

Analysts cut US 2012 natgas price forecasts

Record high US natural gas inventories and production prompted energy analysts to slash their 2012 price estimates to levels that if reached would be the annual average in 13 years, though expectations are that producers may find some relief next year.
Published 30 Apr, 2012 12:00am
China poised to crank up capital account opening

China poised to crank up capital account opening

China is poised to boost quotas on outbound investment schemes to $100 billion and cut barriers to moving foreign currency in and out of the country in a series of swift but small steps to crank open its tightly controlled capital account.
Published 30 Apr, 2012 12:00am
China poised to crank up capital account opening

China poised to crank up capital account opening

China is poised to boost quotas on outbound investment schemes to $100 billion and cut barriers to moving foreign currency in and out of the country in a series of swift but small steps to crank open its tightly controlled capital account.
Published 30 Apr, 2012 12:00am
Japan in talks to buy South Korea debt to diversify reserves

Japan in talks to buy South Korea debt to diversify reserves

Japan is in talks with South Korea about buying its government bonds, senior officials from both countries said, a further sign that Tokyo it is beginning to diversify its reserves away from the dollar after agreeing to buy government debt from China last
Published 30 Apr, 2012 12:00am
Japan in talks to buy South Korea debt to diversify reserves

Japan in talks to buy South Korea debt to diversify reserves

Japan is in talks with South Korea about buying its government bonds, senior officials from both countries said, a further sign that Tokyo it is beginning to diversify its reserves away from the dollar after agreeing to buy government debt from China last
Published 30 Apr, 2012 12:00am
Argentina says YPF take-over needed to fuel economy

Argentina says YPF take-over needed to fuel economy

Argentina must seize control of top energy company YPF from Spain's Repsol to boost production of the oil and natural gas needed to fuel economic growth, Economy Minister Hernan Lorenzino said on Thursday.
Published 30 Apr, 2012 12:00am
On Facebook, beauty is more than screen deep

On Facebook, beauty is more than screen deep

Having attractive friends will make you more popular on Facebook, especially if you are a woman, according to a new study that takes Charles Darwin into the domain of cyber networking. The findings show that signs of reproductive fitness sway our decision
Published 30 Apr, 2012 12:00am
Girls in US more likely to text while driving

Girls in US more likely to text while driving

Girls in the United States are more likely than boys to text behind the wheel, despite widespread youth awareness of the perils of distracted driving, a nation-wide survey suggests. Fully two-thirds of the 2,012 young drivers aged 15 to 21 who took part i
Published 30 Apr, 2012 12:00am
GPS could speed up tsunami alert systems

GPS could speed up tsunami alert systems

Global positioning systems (GPS) could provide faster tsunami alerts than current warning set-ups, German researchers said on April 25, citing data collected in last year's deadly Japan earthquake.
Published 30 Apr, 2012 12:00am
TED blends animation with education at new website

TED blends animation with education at new website

The non-profit group behind the thought-provoking TED conferences on April 25 launched a website devoted to video lessons cleverly crafted to captivate students. A beta version of TED-Ed website went live at ed.ted.com with an open invitation to teachers
Published 30 Apr, 2012 12:00am
Google online translation tops 200 million users

Google online translation tops 200 million users

Google Translate marked its sixth birthday on April 26 with news that more than 200 million people use the free online translation service monthly. "In a given day we translate roughly as much text as you'd find in one million books," Google Translate eng
Published 30 Apr, 2012 12:00am
Google joins 'cloud' data storage trend

Google joins 'cloud' data storage trend

Google on April 24 launched a long-anticipated "Drive" service that lets people store photos, videos, and other digital files in the Internet "cloud." Google Drive accounts with five gigabytes of storage were available free at drive.google.com and upgrade
Published 30 Apr, 2012 12:00am
'Granny Nav' to guide elderly drivers on the road

'Granny Nav' to guide elderly drivers on the road

Older drivers may now be able to stay on the road for longer thanks to new technology being developed by scientists that uses pictures of mail boxes or pubs as visual turning cues.
Published 30 Apr, 2012 12:00am
Swedish zipper honoured with Google doodle

Swedish zipper honoured with Google doodle

Google dedicated a doodle April 24 to the Swedish-American inventor of the modern zipper, Gideon Sundback, on what would have been his 132nd birthday. It featured an interactive zipper that a visitor to Google's otherwise famously spartan home page could
Published 30 Apr, 2012 12:00am
Google raises bounty on software bugs

Google raises bounty on software bugs

Google on April 23 raised to dollars 20,000 its bounty on software bugs that hackers could exploit for cyber attacks on the Internet giant's online services.
Published 30 Apr, 2012 12:00am
Smartphone spread boosts NTT DoCoMo

Smartphone spread boosts NTT DoCoMo

Leading Japanese mobile phone carrier NTT DoCoMo said on April 27 net profit sagged in 2011 due to an additional tax burden, but growing smartphone use had boosted operating profit. Net profit for the year to March slipped 5.4 percent from a year ago to 4
Published 30 Apr, 2012 12:00am
Scientists develop 'most powerful' quantum simulator

Scientists develop 'most powerful' quantum simulator

Physicists in the United States said on April 25 they have developed a simulator that will allow them to observe the behaviour of subatomic particles impossible to measure on existing computers.
Published 30 Apr, 2012 12:00am
Barclays first quarter profit surges

Barclays first quarter profit surges

Barclays posted a 22 percent rise in first-quarter profit, ahead of market forecasts, as a strong rebound in revenue from its investment banking arm and a drop in bad debt countered increased compensation for insurance mis-selling.
Published 30 Apr, 2012 12:00am
Barclays first quarter profit surges

Barclays first quarter profit surges

Barclays posted a 22 percent rise in first-quarter profit, ahead of market forecasts, as a strong rebound in revenue from its investment banking arm and a drop in bad debt countered increased compensation for insurance mis-selling.
Published 30 Apr, 2012 12:00am
GlaxoSmithKline net profits drop

GlaxoSmithKline net profits drop

British drugsmaker GlaxoSmithKline said on April 25 that its net profits dropped 13 percent to £1.325 billion (1.616 billion euros, $2.134 billion) in the first quarter from a year earlier. The result was skewed by the fact GSK had its earnings after tax
Published 30 Apr, 2012 12:00am
GlaxoSmithKline net profits drop

GlaxoSmithKline net profits drop

British drugsmaker GlaxoSmithKline said on April 25 that its net profits dropped 13 percent to £1.325 billion (1.616 billion euros, $2.134 billion) in the first quarter from a year earlier. The result was skewed by the fact GSK had its earnings after tax
Published 30 Apr, 2012 12:00am
Munich Re expects gratifying first quarter

Munich Re expects gratifying first quarter

Munich Re, the world's biggest reinsurer, said on April 26 it expects first-quarter profits to be "gratifying" amid a calmer situation on the financial markets and fewer losses than last year. "Although the picture is not yet complete, the data we have sh
Published 30 Apr, 2012 12:00am
RBS scrapes barrel with reverse stock split

RBS scrapes barrel with reverse stock split

The last time Royal Bank of Scotland's shares traded at 230 pence, the world was rather different. It was early September 2008, Lehman Brothers had yet to collapse, "Sir" Fred Goodwin was still in the hot seat, and a majority state-owned RBS was hard to i
Published 30 Apr, 2012 12:00am
Kuwait bourse targets derivatives, transparency

Kuwait bourse targets derivatives, transparency

Kuwait's stock exchange will clamp down on trading "misbehaviour" and offer investors a fairer playing field in the biggest overhaul of its trading system in nearly two decades, a senior bourse official said on April 23. The exchange plans to introduce th
Published 30 Apr, 2012 12:00am
Philips says first quarter profit at 249 million euros

Philips says first quarter profit at 249 million euros

Dutch electronics giant Philips posted on April 26 first quarter net profits of 249 million euros ($328.4 million), up from 138 million euros a year ago amid the sale of some real estate in the Netherlands.
Published 30 Apr, 2012 12:00am
SAP profits up in first quarter

SAP profits up in first quarter

German software giant SAP said on April 25 it was sticking to its full-year targets for 2012 after net profit rose 10 percent in the first three months. Co-chief executives Bill McDermott and Jim Hagemann said they saw "strong momentum" for group's produc
Published 30 Apr, 2012 12:00am
New J&J CEO parachuting into tough terrain

New J&J CEO parachuting into tough terrain

Johnson & Johnson is sending in a former Army Ranger to clean up several big messes that have hurt its reputation, earnings and share price in the past three years. Alex Gorsky said in an interview his biggest priority is to complete a revamping of the co
Published 30 Apr, 2012 12:00am
Goldman's Jim O'Neill approached for BoE job

Goldman's Jim O'Neill approached for BoE job

Goldman Sachs' Jim O'Neill has been approached by Britain's finance ministry as a possible candidate to be the next governor of the Bank of England, the Sunday Times reported.
Published 30 Apr, 2012 12:00am
AAOIFI in wide review of Islamic finance standards

AAOIFI in wide review of Islamic finance standards

Islamic finance may face its biggest shake-up in years as a top standard-setting body seeks to reform the way the industry does business, including the role of highly paid scholars in enforcing religious principles.
Published 30 Apr, 2012 12:00am
Hollywood hopes rise as Blu-ray, digital offset DVD decline

Hollywood hopes rise as Blu-ray, digital offset DVD decline

Hollywood may be seeing a turnaround in a seven-year decline of home video sales, thanks to double-digit sales growth of Blu-ray discs and online movies and TV shows, an industry trade group is expected to announce on Sunday night.
Published 30 Apr, 2012 12:00am
Chinese tastes impact global car designs

Chinese tastes impact global car designs

As more and more Chinese buy cars, automakers say consumer tastes in the Asian nation have a growing influence on vehicle design the world over. China emerged as the world's top car market in 2009, and though the sector stalled last year, with sales risin
Published 30 Apr, 2012 12:00am
Algeria postpones Djezzy appeal on $1.3 billion fine

Algeria postpones Djezzy appeal on $1.3 billion fine

An Algerian court on Sunday postponed an appeal hearing into a $1.25 billion fine imposed on Djezzy, the local mobile phone unit of Russian telecoms firm Vimpelcom, until May 6, a judicial source told Reuters. Djezzy chief executive Tamer El Mahdy, who ha
Published 30 Apr, 2012 12:00am
South Korea resurrects $5.3 billion Woori stake sale

South Korea resurrects $5.3 billion Woori stake sale

South Korea's top regulator said Sunday it would receive preliminary bids for a 6 trillion won ($5.28 billion) controlling stake in Woori Finance Holdings by July 27, after two previous attempts to privatise the group floundered over a lack of bidding int
Published 30 Apr, 2012 12:00am
GSK bid undervalues Human Genome, investor says

GSK bid undervalues Human Genome, investor says

GlaxoSmith-Kline's $2.6 billion offer for Human Genome Sciences undervalues the biotech company, according to Taube Hodson Stonex, a leading investor in the US group. "The price that's been offered, although it is a big premium to where the shares were tr
Published 30 Apr, 2012 12:00am
GSK bid undervalues Human Genome, investor says

GSK bid undervalues Human Genome, investor says

GlaxoSmith-Kline's $2.6 billion offer for Human Genome Sciences undervalues the biotech company, according to Taube Hodson Stonex, a leading investor in the US group. "The price that's been offered, although it is a big premium to where the shares were tr
Published 30 Apr, 2012 12:00am
Foxconn workers sing its praises, but profit disappoints

Foxconn workers sing its praises, but profit disappoints

Profit at Taiwanese contract maker Hon Hai Precision Industry's grew less than expected in the first quarter, but the main maker of Apple Inc gadgets, whose plants have come under intense scrutiny over working conditions, was in party mood on Saturday.
Published 30 Apr, 2012 12:00am
Abu Dhabi's Sorouh first quarter net profit up 30 percent

Abu Dhabi's Sorouh first quarter net profit up 30 percent

Abu Dhabi's Sorouh Real Estate , which is in merger talks with larger rival Aldar Properties, posted a 30 percent rise in quarterly profits on Sunday, adding to a string of higher earnings from UAE property firms in recent days.
Published 30 Apr, 2012 12:00am
Abu Dhabi's Sorouh first quarter net profit up 30 percent

Abu Dhabi's Sorouh first quarter net profit up 30 percent

Abu Dhabi's Sorouh Real Estate , which is in merger talks with larger rival Aldar Properties, posted a 30 percent rise in quarterly profits on Sunday, adding to a string of higher earnings from UAE property firms in recent days.
Published 30 Apr, 2012 12:00am
Egypt expects tourism to rebound this year to pre-revolution levels

Egypt expects tourism to rebound this year to pre-revolution levels

Egypt's tourism minister expects the number of tourists to rebound this year to pre-revolution levels of 14.5 million after slumping in 2011 following an uprising that forced out President Hosni Mubarak and brought much of Egypt's economy to a halt.
Published 30 Apr, 2012 12:00am
Russia's Basic Element inks $1 billion China's Norinco deal

Russia's Basic Element inks $1 billion China's Norinco deal

Russian tycoon Oleg Deripaska's Basic Element said on Sunday it had agreed a $1 billion co-operation deal with China's state-owned North Industries Corporation (Norinco) that will include construction of a rolling mill in Russia for metal production.
Published 30 Apr, 2012 12:00am
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