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Archive for December 7th, 2007Higher yuan will provide clearer market signals: USPosted by UK Economy News
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7Dec 07 China should not worry about allowing a more rapid appreciation of its currency as the yuan's 12 percent rise over the last two years has not dampened the economy or exports of the world most populous nation, the US Treasury said Friday.
Read full story Libya to buy Airbus planes, nuclear reactor from France: reportPosted by UK Economy News
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7Dec 07 Libyan leader Moamer Kadhafi will sign several contracts during a visit to France next week, including for Airbus planes and a nuclear reactor, his son said in an interview published Friday.
Read full story Comments Off Renault to buy 25 percent of Lada maker Avtovaz: companyPosted by UK Economy News
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7Dec 07 French car maker Renault is to buy 25 percent of Avtovaz, the biggest Russian auto group and the manufacturer of the Lada brand, Avtovaz's parent company announced on Friday.
Read full story Comments Off Oil falls 2 pct and resumes steep slidePosted by UK Economy News
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7Dec 07 Oil fell 2 percent on Friday to below $88 a barrel, resuming a steep slide spurred by rising worries about the health of the U.S. economy.
Read full story Comments Off Vattenfall says chief to leave post after four monthsPosted by UK Economy News
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7Dec 07 The head of Vattenfall Europe, an arm of Swedish energy giant Vattenfall, will be replaced after just four months in the post, the company said on Friday.
Read full story Comments Off South America set to launch bank to rival IMFPosted by UK Economy News
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7Dec 07 Latin American leaders on Sunday inaugurate the Bank of the South, the brainchild of Venezuela's President Hugo Chavez, who hopes it will help wean the region off institutions like the IMF.
Read full story Comments Off Kazakh president seeks to reassure investors amid Kashagan rowPosted by UK Economy News
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7Dec 07 President Nursultan Nazarbayev tried on Friday to reassure business leaders on Kazakhstan's investment climate, as wrangling continued over the vast and troubled Kashagan oil field in the Caspian Sea.
Read full story Comments Off Russian PM guarantees gas supplies to EuropePosted by UK Economy News
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7Dec 07 Europe can depend on Russia to maintain its supply of gas to the continent, Prime Minister Viktor Zubkov said here Friday, days after striking a gas price agreement with Ukraine, a key transit country.
Read full story Comments Off BHP, Anglo American to invest 1.0 bln dlrs in SAfrican coalPosted by UK Economy News
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7Dec 07 BHP Billiton and Anglo American, two of the world's top miners, said Friday they planned to invest nearly one billion dollars (685 million euros) in two separate South African coal projects.
Read full story Comments Off German industrial output falls in OctoberPosted by UK Economy News
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7Dec 07 German industrial production contracted by 0.3 percent in October from the previous month, mainly owing to lower output in the energy sector, figures released Friday by the economy ministry showed.
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