A. Zorbas & Sons Public Ltd. (ZRP.CY) issued its 1H 2008 results posting a 50.2% decrease in profitability to EUR 602.000 compared to EUR1.2 mln profit reported in 1H07. The Board of Zorbas issued a negative profit warning for its FY08 financial results, expecting full year 2008 results will be lower compared to 2007. EPS
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Microsoft Corp will slash the price of its Xbox 360 game console in Japan by about 30 percent, below Nintendo Co's Wii and Sony Corp's PlayStation 3 in a bid to boost market share, the Nikkei business daily said on Monday. Microsoft has been struggling to stir up demand for its Xbox 360 in Japan.
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Oil fell on Monday as concerns that Hurricane Gustav would cause severe damage to the U.S. oil sector eased as the storm failed to pick up strength as it barrelled toward the Louisiana coast. Gustav — which forced the shutdown of nine refineries and most U.S. offshore Gulf of Mexico oil production — was expected
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Motorola, Inc. and Deutsche Telekom announced a collaboration to deliver IPTV in Germany and Deutsche Telekom will use Motorola's High Definition (HD)-ready IPTV set-tops for its "T-Home Entertain" services. The collaboration will enable T-Home customers to access a variety of multimedia applications in addition to standard TV offerings using a high-quality, optimized Motorola set-top which
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Ericsson has signed the largest single contract in Vietnam, amounting to USD 450 mln, to develop and modernize Hanoi Telecom's nationwide mobile network. The strategic partnership, a first in Vietnam, will also see Ericsson managing and operating the network under a three-year full-scope managed services contract. Ericsson will be responsible for the nationwide migration of
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Lehman Brothers Holdings has intensified talks with Korea Development Bank (KDB) to raise as much as $6 bln in a share sale that could be concluded this week, the Sunday Telegraph reported. South Korea's KDB could buy up to 25% of the struggling U.S. investment bank, the paper said, without specifying sources. A spokesman for
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South Korea's LG Display Co Ltd and Taiwan's Amtran Technology agreed on Monday to set up a joint venture in China to produce flat screen modules and manufacture TV sets for brand makers. LG Display, the world's second-biggest maker of liquid crystal display (LCD) panels, has sought alliances with Asian TV makers to strengthen its
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President of the Republic of Cyprus Demetris Christofias leaves for Brussels on Monday to participate in the extraordinary meeting of the European Council later today, which will discuss the crisis in Georgia. According to the French Presidency website, the meeting takes place at the request of several EU member states. “This meeting will be devoted
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Cyprus Foreign Minister Markos Kyprianou has said that the Greek Cypriot side is proceeding to direct talks on September 3 with good will to help reach a political settlement and hopes that the Turkish Cypriot side will reciprocate. In an interview with CNA, Kyprianou noted that the international community can play an important and supportive
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British house prices fell for an 11th straight month in August to stand 5.3% lower than a year earlier, a survey by property consultants Hometrack showed on Monday. That was the biggest annual fall since the survey began in 2001 and compared with a 4.4% drop reported in Hometrack's July survey. The monthly price drop
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