| Sartorius Reviews Fiscal 2007 Results
The Sartorius Group (FWB:SRT), a leading international process and laboratory technology provider, looks back on a successful and intense 2007. At the annual press conference for the company in Goettingen, CEO Dr. Joachim Kreuzburg reported on the extensive strategic projects implemented and the gratifying development of sales revenue and earnings achieved in both divisions in the reporting year. He stated that Sartorius progressively further developed its global group structures in the year under review and strengthened it to meet future trends by acquiring Goettingen-based Toha Plast GmbH in January 2007, merging the Biotechnology Division of the Group with French-based Stedim S.A. in the summer of 2007, selling its hydrodynamic bearings business in the second half and taking reorganization measures in the USA.
Airline Shares Jump on Pre-Fed Announcement Bandwagon, Rising Even As Oil Prices Advance
NEW YORK (AP) - Airline stocks joined in Wall Street's rally ahead of hoped-for interest-rate cuts Tuesday, with a decision by Delta Air Lines Inc. to cut costs and capacity only adding to investors' optimism for the slumping sector. The Amex Airline Index, which tumbled to its lowest point in years a day earlier, gained 1.7 percent to 24.64 in midday trading. It was tracking broader indicators, such as the Dow Jones industrial average, which rose by 2.4 percent to 12,259.06. Investors were awaiting what is expected to be an aggressive cut in interest rates by the Federal Reserve this afternoon. Better-than-expected earnings from Lehman Brothers and Goldman Sachs also lifted traders' spirits. .
Austria—2008 Article IV Consultation Preliminary Conclusions of the Mission
12;2008 Article IV Consultation Preliminary Conclusions of the Mission March 17, 2008 Slowdown expected after strong performance in recent years 1. A mix of solid economic policies, wage moderation, and an early focus on Eastern Europe explain Austria's strong economic performance in the past period. Economic policies have contributed to this performance by focusing on macroeconomic stability and structural reforms. Wage moderation, resulting from a strong social partnership, has preserved competitiveness and supported export led growth, which has significantly exceeded the euro area average in the past period. The private sector, including the financial industry, has reaped significant benefits from an early entry into fast growing Central, Eastern and Southeastern Europe (CESE).
Massive public debt remains biggest challenge for Lebanese banks
The main impediment for Lebanese banks remains their high direct exposure to the risks inherent in operating in the Republic of Lebanon, Standard & Poor's Ratings Services noted in a report titled "Lebanese Banks Plant Cedars Abroad While Resisting The Political Impasse," published today on RatingsDirect.The ratings on Lebanon were lowered to 'CCC+/Stable/C' on Jan. 31, 2008, to reflect the current political impasse there. "The Lebanese government's high indebtedness, fiscal deficit, and fragile political stability pose a serious threat to any bank in the system," said Standard & Poor's credit analyst Paul-Henri Pruvost.Although Lebanon has never defaulted, the banking system, which has proven highly resilient thus far, would suffer dramatically from an unwinding of public finances. Consequently, the three rated Lebanese banks' (Bank Audi - Audi Saradar Group, Bankmed, and BLOM Bank) exposure to sovereign risk is paramount and impinges significantly on the ratings on the banks.
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