The six Gulf Cooperation Council (GCC) member states post the largest external fiscal surplus
Jun. 22, 2006

The six Gulf Cooperation Council (GCC) member states are expected to post the largest external fiscal surplus in 2006 thanks to high oil prices, the World Bank reported June 22. The positive numbers are expected to last into 2007. The GCC controls about 45 percent of the world's oil reserves.

Nokia, the Finnish telecoms company, has terminated plans to set up a joint venture with Sanyo, the Japanese communications company, after deciding it did not make economic sense.
Media Release
Univision saw efforts for its auction hit a hurdle on Wednesday when two more private equity companies dropped out of a planned bid for the largest Spanish-language media company in the US.
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Nokia, the Finnish telecoms company, has terminated plans to set up a joint venture with Sanyo
Media Release
Nokia, the Finnish telecoms company, has terminated plans to set up a joint venture with Sanyo, the Japanese communications company, after deciding it did not make economic sense.
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British Airways and other airlines are to face an investigation into alleged cartel activity
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British Airways and other airlines are to face an investigation into alleged cartel activity in relation to prices and fuel surcharges, the UK airline said.
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Excessive equity option seculation indicative of start of major bear market
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Volume of trading in equity options has jumped 47 per cent in the past year in the US
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Oil slips while gold rallies
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Oil slipped 18 cents to $68.80 a barrel in late morning trade on the New York Mercantile Exchange
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Yen rise on rate boost hopes
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Yen boosted from Y115.48 to Y114.62 against the dollar and from Y145.1 to Y144.2 against the euro.
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Government bonds fell and yields rose on Tuesday after strong data on housing markets from the UK and US
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Government bonds fell and yields rose on Tuesday after strong data on housing markets from the UK and US heightened fears about interest rate rises.
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Wall Street pushed higher, recovering from two days of falls
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Wall Street pushed higher, recovering from two days of falls. Defensive stocks such as consumer staples were in strong demand. Energy stocks were boosted by resurgent crude oil prices.
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Rising tide of protectionism could endanger European investment in the US
Media Release
A rising tide of protectionism could endanger European investment in the US, the president of the European Commission said ahead of a European Union-US summit in Vienna on Wednesday.
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