Sterling fell on a trade weighted basis to its lowest in over 11-1/2 years on Friday, after a downward revsion to UK second quarter growth raised the chances of a technical recession. UK gross domestic product was unchanged on the quarter in the three months to June, down from a preliminary estimate of 0.2 percent
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Britain's economy unexpectedly came to a standstill in the second quarter, its weakest performance since the recession of the early 1990s, revised official data showed on Friday. The Office for National Statistics said GDP was unchanged on the quarter in the three months to June, down from a preliminary estimate of 0.2% growth and below
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Logicom Public Co Ltd. (LOG.CY), Cyprus’s largest IT Group with extensive activities in the Middle East, east and central Europe announced the appointment of Michalis Sarris and Giorgos Papaioannou as additional Board members. In September 2005 Michalis Sarris, born in Nicosia on 14/4/1946 was appointed by the President of the Republic as Finance Minister (until
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C.T.O. Public Co Ltd. (formerly Lemeco Silvex) has forecast that cigarette exports from Cyprus during 2008 will reach EUR 8 mln under its Raquel brand, which is now being marketed globally in Africa, the Middle East, former CIS states and south American countries. C.T.O., which is also involved in the production and sale of hygienic
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The Vienna Insurance Group achieved a growth of 20.7% in the first half of 2008 compared to the previous year, with consolidated premiums written (without other insurance participation) at a total of EUR 4.22 bln. Group profit (before taxes, consolidated) was also up by 33.9% from the p0rior year period to EUR 288.34 mln. The
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Ericsson has combined a GSM base station and satellite transmission in a solar-powered site, enabling Cambodian mobile operator Star-Cell to expand its network coverage in remote areas. The solution offers affordable communications for all and is based on Ericsson's energy-optimized main-remote base-station. This is vital for bridging the digital divide, as about 80 percent of
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U.S. mobile service provider Verizon Communications Inc. is nearing an agreement with Google Inc. on a wide-ranging partnership, the Wall Street Journal said, citing people familiar with the situation. The deal under discussion would make Google the default search provider on Verizon devices and give it a share of ad revenue, the paper said. The
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Aon Corp, the world's largest insurance broker, has made a recommended cash offer for Benfield valuing the UK-listed broker at 844 mln pounds ($1.6 bln). The two sides said on Friday that the acquisition price of 350 pence per share in the reinsurance broker represents a premium of over 29% to the closing price on
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bwin Interactive Entertainment AG generated gross gaming revenues from betting, poker, casino and games of EUR 207.2 mln in the first half of 2008, an increase of 25.6% from the same period the previous year. The gross gaming revenues generated from the poker, casino and games sectors amounted to EUR 43.7 mln (H1 2007: EUR
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Asian stocks fell to a two-year low on Friday, down for a fourth straight week, after a surge in oil prices above $121 enflamed inflation worries and the spiralling financial crisis showed no signs of ending. European stock index futures rose, with commodity stocks likely to benefit from strong metal and crude prices. Crude prices
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