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UAE signs $1.42bn defense deals
19 Feb 2013 18:51

UAE signs $1.42bn defense deals

The United Arab Emirates has signed 17 defense contracts to purchase military equipment worth USD1.4 billion including US manufactured Predator drones.

 
‘Spanish woman set self afire at bank’
19 Feb 2013 18:46

‘Spanish woman set self afire at bank’

A Spanish woman has set herself on fire at a bank in an eastern city, after losing her home to the bank over unpaid loans, reports say.Local officials said the woman, aged 47, doused herself with flammable liquid and set herself on fire after entering the bank branch in Almassora on Monday.The police ...

 
Bulgarians protest high electricity bills
18 Feb 2013 18:07

Bulgarians protest high electricity bills

Tens of thousands Bulgarians have taken to the streets of the capital Sofia and over a dozen other cities to protest over high electricity bills.

 
Turkish minister says any gas project with Israel requires Erdoğan
15 Feb 2013 19:09

Turkish minister says any gas project with Israel requires Erdoğan's approval

Turkey's energy minister has said any joint project between Turkish companies and Israel requires the approval of Prime Minister Recep Tayyip Erdoğan.Taner Yıldız told Turkey's CNBC-E news channel in an interview that some conditions must be established to carry Israeli gas to Turkey, without elaborating ...

 
French Peugeot Citroen unveils 5-billion-euro loss for 2012
13 Feb 2013 18:46

French Peugeot Citroen unveils 5-billion-euro loss for 2012

The French auto giant PSA Peugeot Citroen has announced a net loss of five billion euros (USD 6.7 billion) in 2012, making it the worst result in its history.

 
Trade volume between Libya&Turkey would reach 5 bln $ by end of 2013
13 Feb 2013 18:39

Trade volume between Libya&Turkey would reach 5 bln $ by end of 2013

Turkish Economy Minister Zafer Caglayan expressed hope that trade volume between Libya and Turkey, which was 3.5 billion USD in 2012, would reach five billion USD by the end of 2013.Caglayan held meetings with Libyan PM Ali Zeidan, Transportation Minister Abd al-Qader Mohammed Ahmed, Finance Minister ...

 
Apple planning new research and development center in Israel
12 Feb 2013 16:45

Apple planning new research and development center in Israel

Tech giant Apple is opening a new research and development center in Israel later this year, according to a report in the Israeli business publication Globes.Apple was able to successfully hire a slew of employees from Texas Instruments when that company began laying off workers last year, and is now ...

 
Inequality soaring in Britain: report
11 Feb 2013 19:01

Inequality soaring in Britain: report

The gap between the very rich and the less fortunate in Britain has risen sharply since the 1990s, a study has found.Analysis by the Resolution Foundation think tank shows that the top earners in Britain now take home 10 percent of every pound earned in the country that is a three percent growth in ...

 
2.3 million deprived kids absent from UK poverty data – report
9 Feb 2013 11:23

2.3 million deprived kids absent from UK poverty data – report

Over 2 million kids in the UK are deprived of basic needs and are not included in official statistics, a new report has found. It says that current methods of calculating child poverty are too fixed on incomes.Nearly 2.3 million children living “materially deprived lives” in the UK are not included ...

 
Sanctions on Iran leaves 11,000 French jobless
9 Feb 2013 11:08

Sanctions on Iran leaves 11,000 French jobless

After losses for French automaker Peugeot-Citroën, workers have gone on strike for 2 weeks, protesting layoffs, in Paris suburb of Aulnay-Sous-Bois, Iranian Mehr news agency reported.“France's largest automaker, struggling to compete in Europe's stagnant car market, is cutting 8,000 jobs ...

 
EU court annuls sanctions on Iran’s Bank Saderat
6 Feb 2013 19:14

EU court annuls sanctions on Iran’s Bank Saderat

The European Union (EU) has lifted sanctions against the Iranian state-owned Bank Saderat, after Europe’s highest court removed it from the list of banned institutions.The European Council was ordered to remove Bank Saderat from its sanctions list following legal proceedings, a statement by the ...

 
Japanese giants Panasonic, Sharp post $11 billion losses
3 Feb 2013 15:57

Japanese giants Panasonic, Sharp post $11 billion losses

Embattled Japanese consumer electronics giants Panasonic and Sharp have posted more than USD11 billion in combined losses over the nine-month period ending in December.On Friday, Sharp announced its losses had doubled in the nine months leading to December to USD4.6 billion. Panasonic, meanwhile, said ...

 
Afghanistan continues Iran oil purchase despite US pressure
2 Feb 2013 19:13

Afghanistan continues Iran oil purchase despite US pressure

Afghanistan says it will continue to purchase oil from Iran despite the US pressure on Kabul to stop oil deals with Tehran.In continuation of Washington’s hostile policies on Iran and the US interference in the internal affairs of other countries, the US Department of State has banned Afghanistan ...

 
France is totally bankrupt: French employment minister
30 Jan 2013 19:27

France is totally bankrupt: French employment minister

French Employment Minister has questioned the economic policies of President Francois Hollande, admitting that the European country is “totally bankrupt.”

 
Iran imposes preemptive oil, gas ban on EU
27 Jan 2013 18:42

Iran imposes preemptive oil, gas ban on EU

Iran has banned crude oil and gas exports to the European Union (EU) in retaliation for the 27-nation bloc’s embargo on the Iranian energy sector.

 
Spain economy contracted 1.3% in 2012: Bank of Spain
23 Jan 2013 20:15

Spain economy contracted 1.3% in 2012: Bank of Spain

The Bank of Spain has announced that the country's economy contracted 1.3 percent in 2012 amid the economic downturn gripping Europe.

 
Report: Israel to buy oil from South Sudan
21 Jan 2013 16:20

Report: Israel to buy oil from South Sudan

A report Sunday said that Israel had made a deal with South Sudan to purchase oil from the country, which is the newest country in Africa.The report by several news agencies said that South Sudan's oil minister was recently in Israel on a visit, and met top government officials, who worked out the deal ...

 
Russia sets arms sale record above $15 bn
21 Jan 2013 16:17

Russia sets arms sale record above $15 bn

The world's number two arms exporter Russia said Monday it had sold a record $15.2 billion (11.4 billion euros) in weaponry last year while expanding its list of clients to more African nations."The export volume of military products reached $15.16 billion," news agencies quoted Federal Service ...

 
Explosion hits Iraq oil pipeline to Turkey
20 Jan 2013 19:27

Explosion hits Iraq oil pipeline to Turkey

An explosion has hit the Kirkuk-Yumurtalik oil pipeline that transfers crude from Iraq to Turkey.The oil supply was temporarily disrupted due to the explosion that occurred on Turkey's soil in the province of Mardin on Friday night and caused a fire.No group has claimed responsibility for the attack,...

 
European auto makers’ group says new car sales plunged in 2012
16 Jan 2013 19:05

European auto makers’ group says new car sales plunged in 2012

New car sales in Europe have plunged to an 18-year low as the auto industry is feeling the effects of the eurozone crisis.