The Austrian industry-holding stock corporation, Österreichische Industrieholding Aktiengesellschaft (ÖIAG), has started the tender process for selling its 42.75% stake in Austrian Airlines. The Austrian Government gave the go-ahead Tuesday for the search for an appropriate investor by issuing the privatization mandate. The privatization mandate entitles ÖIAG to sell up to 100% of its shares, ensuring
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Moody's Investors Service has placed on review for possible downgrade the D- bank financial strength ratings (BFSRs) and Ba1 long-term local currency deposit ratings of the two rated Georgian banks, Bank of Georgia and TBC Bank. The rating agency has also changed the outlooks on these banks' B3 foreign currency deposit and Ba2 debt ratings
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Moody's Investors Service has confirmed, with a positive outlook, the B2 long-term foreign-currency deposit ratings of 22 Ukrainian banks. The ratings of foreign currency debt instruments issued by five Ukrainian banks have also been confirmed, with a positive outlook. This rating action has been triggered by confirmation, with a positive outlook, of the B1 foreign-
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The Islamic finance sector boasts a growing number of players that are attracted by soaring profits. Moreover, the sector is characterized by unabated demand and government support, especially in the Middle East and Muslim Asia, a special report by Moody’s Investor Service has said. Questions about the growing sector of Islamic finance are addressed in
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Ericsson is launching a pilot in Bangladesh to demonstrate how to improve productivity and quality of life in the country with the use of high-speed internet services through 3G/HSPA technology. The pioneering project, called Alokito Bangladesh (Enlightened Bangladesh), will demonstrate high-speed internet access and a range of advanced services – including mobile health and mobile
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LONDON, Aug 13 (Reuters) – Thomas Cook, Europe's No.2 travel company, said on Wednesday that current trading has been strong in the summer 2008 season, and trading for winter 2008/9 and summer 2009 is ahead of last year. The group, created last year from the tie-up of German retailer Arcandor's travel unit and Britain's MyTravel,
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By Nick Carey Three years after Hurricane Katrina wrecked parts of New Orleans, all that separates the biggest successes and failures in the city's revival is a short drive. Fifteen minutes by car takes you from the elegant streets of a French Quarter once more bustling with tourists — albeit fewer than pre-Katrina — to
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By Linda Sieg Japan's flirtation with nationalism is fading with its faltering economy, and with policymakers focused more on soothing consumers' worries than fostering patriotism, ties with Asian rival China are likely to stay calm. The ruling bloc's concern with bread-and-butter matters such as rising prices and pensions in the midst of a possible recession
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Asian stocks fell on Wednesday, with regional shares outside of Japan hitting a 17-month low, on the growing risk of a sharp global economic slowdown. The dollar hovered near six-month highs against a basket of major currencies, with investors watching oil and stock markets for direction. Data showing Japan's economy contracted in the second quarter
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Louis Ltd. has joined a consortium short-listed to develop and operate a new cruise terminal at Marseilles at a time when its other joint venture to develop the Larnaca marina and port area has hit a snag. The CSE-listed travel giant and parent company of Louis Cruise Lines, has been chosen as a preferred bidder
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