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Brazil to invest $440 mn in energy projects

Wednesday, 31 July 2013 17:17
Sao Paulo: Brazilian Mines and Energy Minister Edison Lobao said the federal government planned to invest 1 million reais ($440.5 million) in energy projects over the next 10 years through its Growth Acceleration Program, or PAC.Lobao participated Monday in a…

Amazon to hire 7,000 workers

Tuesday, 30 July 2013 13:00
New York: Online shopping giant Amazon Monday announced plans to hire 7,000 workers for its operations in the US, CNN reported.The firm said most jobs offer pay and benefits far above typical retail wages.Amazon did not give specific pay scales…

Chinese firm to build coal power plant in Morocco

Saturday, 27 July 2013 11:03
Rabat: A Chinese firm is all set to build a 318-megawatt coal-fired plant in the African nation of Morocco.According to Morocco's state power utility ONEE, the plant, for which a deal has been signed by Chinese firm -- Sepco III,…

CESC to delist from London Stock Exchange

Friday, 26 July 2013 18:27
Kolkata: RP-Sanjiv Goenka Group flagship company CESC Friday decided to delist its equity shares from the London Stock Exchange.The company at its annual general meeting here secured the shareholders' approval for this. Group chairman Sanjiv Goenka attributed "very low dealings…

Swiss bank to pay big money to settle suit

Friday, 26 July 2013 13:25
Washington: Switzerland's largest bank UBS has agreed to pay $885 million to Fannie Mae and Freddie Mac to settle claims of violating US securities laws in selling bonds to the two mortgage finance companies, the US federal regulator said.Under the…

Samsung Electronics posts record profit

Friday, 26 July 2013 13:24
Seoul: Samsung Electronics, the world's largest maker of smartphones, flat panels and TVs, posted a fresh record quarterly high of operating profit in the second quarter due to robust demand for its high-end smartphones and TVs, a regulatory filing showed…

China deal too good to refuse: Vagner

Thursday, 25 July 2013 18:01
Rio de Janeiro: Departing CSKA Moscow striker Vagner Love has described his 12 million-euro move to China's Shandong Luneng Taishan as a "once in a lifetime" opportunity.The 29-year-old former Brazil international confirmed the move Wednesday, just six months after he…

S&P cuts credit rating of 18 Italian banks

Thursday, 25 July 2013 12:36
Rome: Standard & Poor's has downgraded the long-term credit rating of 18 Italian banks due to deepening recession.A total of 17 banks including Ubi Banca, Credem and Fga Capital were cut by one notch while another lender, Agos Ducato, was…

Moody's forecasts 3.1 percent GDP growth in Mexico

Thursday, 25 July 2013 11:41
Mexico City: Mexico's economy will gain strength in the second half of this year and finish 2013 with gross domestic product growth of 3.1 percent, Moody's Investors Service said.The forecast from the US credit-rating agency is in line with the…

New home sales in US hit five-year high in June

Thursday, 25 July 2013 10:28
Washington: Sales of new single-family houses in the US rose to a five-year high in June, which is evidence of sustained recovery of the housing market despite higher mortgage rates, the US Commerce Department said.Sales increased 8.3 percent from May…