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Archive for February 29th, 2008Oil eases off record $103 as Turkey removes troopsPosted by UK Economy News
In UK financial news
29Feb 08 Oil prices eased from peaks above $103 a barrel Friday as Turkey's withdrawal of troops from northern Iraq eased geopolitical tensions, clipping the fund-driven rally to new inflation-adjusted highs.
Read full story PDVSA says Exxon’s asset freeze based on fantasyPosted by UK Economy News
In UK financial news
29Feb 08 Venezuelan state oil firm PDVSA told a UK court on Friday that a $12 billion freeze on its assets should not have been granted to Exxon Mobil as the oil major's arguments were "sheer fantasy land".
Read full story Comments Off Expro shares soar to record on takeover approachPosted by UK Economy News
In UK financial news
29Feb 08 Expro International Group said it had received a proposal that may lead to an offer, sending shares in the oil and gas field services company up over a third to a record high.
Read full story Comments Off Dexia reports 7.9-pct profit fall, sees opportunity in credit crisisPosted by UK Economy News
In UK financial news
29Feb 08 The French-Belgian bank Dexia, which specialises in financing local authorities, reported a 7.9-percent fall in net profit on Friday but said it had been little affected by the US home-loan subprime crisis.
Read full story Comments Off EU says global trade talks face big risk of failurePosted by UK Economy News
In UK financial news
29Feb 08 A six-year push for a global trade deal faces a strong risk of collapse, Europe's trade chief said on Friday, turning up the pressure on negotiators ahead of a meeting expected in the coming weeks.
Read full story Comments Off JP Morgan says emerging currencies risk overshootingPosted by UK Economy News
In UK financial news
29Feb 08 Latin American and Asian currencies risk overshooting in the near term as soaring commodities prices boost the economies of developing countries, JP Morgan said on Friday.
Read full story Comments Off SocGen sees near 100 pct rights take-upPosted by UK Economy News
In UK financial news
29Feb 08 French bank Societe Generale will have a take-up rate of close to 100 percent for its deeply discounted 5.5 billion euros (4.2 billion pounds) rights issue, sources close to the deal said on Friday.
Read full story Comments Off OPEC unlikely to change output at current price: LibyaPosted by UK Economy News
In UK financial news
29Feb 08 OPEC is unlikely to change its production level at a meeting next week if the oil price stays at about 100 dollars per barrel, acting Libyan Oil Minister Chukri Ghanem told AFP on Friday.
Read full story Comments Off Renault takes stake in Russia’s AvtovazPosted by UK Economy News
In UK financial news
29Feb 08 French carmaker Renault on Friday signed a billion-dollar deal to buy a stake in Lada-maker Avtovaz, Russia's biggest auto producer, in a push into the country's booming car market.
Read full story Comments Off Euro zone sentiment fallsPosted by UK Economy News
In UK financial news
29Feb 08 A steep fall in February economic sentiment highlighted risks to euro zone growth on Friday, adding to market belief the ECB would cut rates later this year even if inflation sets new record highs in February.
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