Athena Cyprus Investment Co Ltd (ATH.CY) announced its participation in the venture capital Infinity I – China Fund, which focuses on companies related to the high-tech sector. The total amount of investment to be locked up stands at $10mln. This comes in line with the Company’s target, to reduce its exposure in the stock market
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Britain's leading share index pushed higher early on Friday, lifted by strength in heavyweight oils and miners and with banks up on hopes U.S. investment bank Lehman Brothers could be rescued. By 0755 GMT, the FTSE 100 was 73.6 points, or 1.4% higher at 5,392.0, snapping a three-day losing run. The UK benchmark closed down
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Deutsche Bank is poised to swoop on rival Postbank in a two-part takeover valuing the retail lender at roughly $13 bln, sources with direct knowledge of the matter said. It is set to be the second bumper all-German banking deal in as many weeks after Commerzbank bought Dresdner. Two sources familiar with the matter said
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Cypriot tennis player Marcos Baghdatis qualified for the quarter finals of the Challenger d’ Orleans. He beat Thursday French Gary Lugassy with 2-1 (1-6, 6-1, 6-2). Baghdadis, who returned to the tennis fields after four months of absence due to an injury, will face Friday late in the afternoon French Sidorenko Alexandre at the quarter
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Lehman Brothers Holdings Inc was forced into talks about a possible sale after the Wall Street investment bank's shares plunged more than 40% on Thursday, raising questions about its survival. Lehman and U.S. officials were in intensive discussions about a number of options, including a complete sale, sources with direct knowledge of the talks said.
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U.S. video games sales rose 9% in August from a year earlier, marking the smallest monthly sales increase in more than two years, according to data from research firm NPD on Thursday. U.S. sales of video game hardware, software, and accessories totaled $1.08 bln in August with software sales growing 13% and hardware sales rising
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Asian stocks edged up on Friday, with shares outside Japan rebounding from a 23-month low on reports Lehman Brothers had put itself up for sale, suggesting a smaller risk of a Wall Street meltdown spreading to the region. The optimistic market mood spilled over to Europe, with Eurostoxx 50 futures, Germany's DAX futures and French
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With significant amounts of revenue exposed to patent expiries over 2010-2013, European pharmaceutical companies are facing a challenging period ahead, Moody's Investors Service said in its new Industry Outlook for the sector. However, growth opportunities remain good and balance sheets are generally robust, creating a cushion to absorb potential negative events. "Moody's fundamental credit outlook
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Ericsson has been chosen to supply and operate a complete GSM mobile network for Cable&Wireless EAUS (Europe, Asia and US) as it launches its new Fixed Mobile Convergence (FMC) services in the UK. Ericsson will also be responsible for running the network for five years. Under the agreement, Ericsson will supply a complete core and
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Yahoo Inc plans to open its online music site to feature information about songs and artists from outside services such as Apple Inc iTunes or Amazon.com, an executive said on Thursday. "We are going to completely open up Yahoo Music in the next few weeks," Scott Moore, the executive in charge of Yahoo's media businesses,
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