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Posts Tagged ‘euros’

Ireland lands bailout of up to 90 billion euros

In Uncategorized on November 22, 2010 at 10:05 am

BASF profit jumps five-fold to 1.25 billion euros

In Uncategorized on October 28, 2010 at 7:42 am

German chemical group BASF said that strong demand worldwide pushed its third quarter net profit five times higher than in the same period a year earlier to 1.25 billion euros (1.73 billion dollars).


The results confirmed a preliminary release last week, when BASF said sales had jumped by 23 percent to 15.8 billion euros amid a rebound in global economic activity.


“There was hardly any sign of the usual seasonal slowdown and the capacity utilization rate was high,” a company statement said on Thursday.


“Nearly every business benefited from this. Growth impetus came from all regions.”

Juergen Hambrecht, chairman of BASF, the world’s biggest chemicals company, seen here addressing the company’s annual general meeeting.

Core earnings before special items leapt by 77 percent to 2.2 billion euros, the company said, while reiterating that it had raised its outlook for 2010 as a whole.


“We anticipate our sales growth in 2010 will outpace global chemical production,” chairman Juergen Hambrecht was quoted as saying.


“Overall, we aim for sales of around 63 billion euros and income from operations before special items of more than eight billion.”


Hambrecht added: “We are now profiting from the favorable economic environment because we further improved our competitiveness in the crisis and made our portfolio even more cyclically resilient through the rapid integration of Ciba,” a Swiss specialty chemical company.


“We expect to earn a high premium on our cost of capital and thus to increase the dividend,” the BASF chairman said.


The group said last week that adjusted core earnings before interest and tax leapt by 89 percent to 6.4 billion euros in the third quarter, and forecast they could exceed eight billion euros this year.


Core earnings have already surpassed levels reached in 2007 and 2008, it noted.


Sales in almost all of the group’s sectors increased in the third quarter, with the exception of its agricultural solutions unit, which typically sees weaker sales in that period, and in the oil and gas division.

Source: SGGP

AIDS charity Life Ball raises 1.5 mln euros

In Uncategorized on July 22, 2010 at 11:17 am

VIENNA, July 22, 2010 (AFP) – Vienna’s glitzy AIDS charity Life Ball last weekend raised 1.5 million euros (1.9 million dollars) for international and national HIV and AIDS projects, organisers said Thursday.


This year’s event on the square in front of the Austrian capital’s neo-Gothic Town Hall and attended by former US president Bill Clinton and Hollywood actress Whoopi Goldberg was marred by heavy thunder storms and cloudbursts.


“If the weather had been better, the amount of money raised would probably have been even higher,” commented organiser Gery Keszler.


Nevertheless, tens of thousands of gays, lesbians, drag queens and their friends, all dressed in outrageous costumes, paid between 75-150 euros for a ticket to the 18th annual fashion-show-cum-party event, aimed as a brilliant and dazzling pendant to Vienna’s stiff and haughty Opera Ball much earlier in the year.

Picture shows new HIV protection gel for women on July 21, 2010 during the 18th International AIDS Conference in Vienna.AFP PHOTO

Also in Vienna, the 18th World AIDS conference, which runs until Friday, is being attended by some 25,000 experts, health professionals and policy makers to discuss progress in fighting AIDS and look at ways to provide further prevention and treatment against the HIV virus which causes it.

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Source: SGGP

Myanmar, India to trade in euros, Singapore dollars

In Uncategorized on December 9, 2008 at 5:22 pm

Hanoi (VNA) – Myanmar and India will use euros and Singapore dollars in direct trade transactions as an alternative means to settle credit accounts between the banks of India and Myanmar when Myanmar is under United States’ financial sanctions, Xinhua news agency reported.

Payments for bilateral trade will be conducted through the United Bank of India and three state-run Myanmar banks – Myanmar Investment and Commerce Bank, Myanmar Foreign Trade Bank and Myanmar Economic Bank, said the Myanmar Times, one of the leading local weekly.

India stands as Myanmar’s second largest export market after Thailand and the fourth largest trading partner after Thailand, China and Singapore.

Myanmar-India bilateral trade reached 995 million USD in the fiscal year of 2007-08 with Myanmar’s exports to India accounting for 810 million USD while its imports stood 185 million USD, registering a trade surplus of 625 million USD.

The Myanmar compiled figures also show that India’s contracted investment in Myanmar reached 219.57 million USD as of June 2008, of which 137 million were drawn into the oil and gas sector in September last year.-