Tuesday 19 August 2008
Caracas wants to stabilize oil barrel near 100 USD
Venezuela's Energy and Petroleum Minister said that he may ask for cuts in oil production at an upcoming OPEC meeting, in order to curb speculation and fix the price of oil at around $100 per barrel.
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- FRENCH ECONOMY
- French premier confident despite slowing economy
- Monday 18 August 2008
- At a special meeting of six key ministers, French Prime Minister François Fillon said it was "not fair" to talk about an economic recession in France. On Thursday, official figures showed a drop in France's second-quarter growth.
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- SHIPBUILDING
- South Korea's STX takes over Norway's Aker Yards
- Monday 18 August 2008
- South Korean shipbuilder STX more than doubled its participation in Norway's Aker Yards, Europe's biggest shipyard. This step brings the South Korean group closer to being the world's leading shipbuilder.
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- SWITZERLAND - BANKING
- UBS to return to profitability in 2009
- Monday 18 August 2008
- UBS, Switzerland's biggest bank, will return to profitability next year despite billions lost in the United States subprime crisis, said chairman Peter Kurer.
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- ZIMBABWE - SUMMIT
- South African nations launch free-trade zone
- Sunday 17 August 2008
- The South African Development Community launched a regional trade zone that aims to eliminate import tariffs and establish a common currency by 2018, despite the shadow of Zimbabwean unrest.
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- TURKEY - IRAN
- Gul: More time needed for Turkey-Iran energy deal
- Saturday 16 August 2008
- Turkey and Iran will not sign an energy deal — yet. Though Iran's Mahmoud Ahmadinejad travelled to Istanbul for a two-day visit, Turkish President Abdullah Gul said more time was needed, dismissing claims the USA wanted him to drop the deal.
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- AIRLINES - PARTNERSHIP
- American, Iberia and BA to form transatlantic team
- Friday 15 August 2008
- American Airlines, British Airways and Iberia of Spain plan to cooperate on flights between North America and Europe to help overcome soaring fuel costs.
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- UNITED KINGDOM
- Sterling slides to two-year low against dollar
- Friday 15 August 2008
- The British pound fell to 1.8512 dollars, its lowest point since July 2006. The Bank of England is expected to cut interest rates to bolster economic growth. The slump in British currency is the latest indication of a gloomy global economic horizon.
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- ECONOMY - EURO
- Euro zone sinks into the red
- Friday 15 August 2008
- It was the news governments across Europe have been dreading. The economies of France and Germany, and the euro zone as a whole, shrunk in the second quarter. The spectre of a continental recession is impossible to ignore.
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- ENERGY - RUSSIA
- Russian justice 'disqualifies' TNK-BP boss
- Thursday 14 August 2008
- Robert Dudley, chief executive of the British-Russian energy giant TNK-BP, has been "disqualified" for two years as the company's head, according to Russian media. TNK-BP is at the centre of a dispute for its control.
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- UNITED STATES
- Inflation surges, influenced by energy costs
- Thursday 14 August 2008
- Consumer price inflation rose to unexpected highs in July, making it the highest surge in 17 years. The housing crisis and escalating energy and food prices played a key role in stretching Americans' wallets.
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- GEORGIA - ENERGY
- BP to reopen pipeline in Georgia
- Thursday 14 August 2008
- After having stopped pumping due to the Russian-Georgian conflict earlier this week, British energy giant BP said that it had resumed pumping gas into the South Caucasus pipeline in Georgia.
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- GROWTH - JAPAN
- Japanese economy shrinks in second quarter
- Wednesday 13 August 2008
- Japan's economy contracted by over half a percentage point in the second quarter, according to official figures, confirming fears that the world's second largest economy might slip into a recession.
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- Tuesday 19 August 2008
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