IN BRIEF (Page 17)

Asian growth

Dynamic growth in East Asia may support the world economy amid the current risk of a slowdown in some industrialized countries, European Central Bank President Jean-Claude Trichet said.

"The world economy might be better able to rely on the dynamism of the Asia-Pacific region, should growth in other regions lose momentum. This is particularly important at the current juncture," Trichet said at a reception of the German-Asian Business Circle in Frankfurt.

Confidence rises

German business confidence unexpectedly rose for a second month in February, prompting investors to pare bets that the European Central Bank will cut interest rates.

The Munich-based Ifo institute said its business climate index, based on a survey of 7,000 executives, increased to 104.1 from 103.4 in January.

Citigroup warning

Citigroup Inc may suffer its second straight quarterly loss because of more write-downs tied to subprime mortgages, risky corporate debt and consumer loans, Oppenheimer & Co analyst Meredith Whitney wrote.

Whitney, who in October correctly predicted that Citigroup would cut its dividend and raise some $30 billion of capital, said the largest US bank might lose 28 cents per share, or about $1.4 billion based on reported shares outstanding.

Stock buyback

Reliance Energy Ltd, India's third-biggest utility by market value, said it plans to consider a buyback of shares, two days after a unit agreed to give free stock to bolster investor confidence.

The board will take up the plan on March 5, the Mumbai-based company said in a statement to the Bombay Stock Exchange yesterday. Unit Reliance Power Ltd on Feb 24 said it would give three shares for every five held after the stock slumped on listing.

Aristocrat advances

Aristocrat Leisure Ltd, the world's second-largest maker of slot machines, rose the most in a month in Sydney trading after earnings beat analyst estimates.

Aristocrat shares surged 7.1 percent to A$10.60 at the 4:10 pm close of trading in Sydney. Annual net income rose 3.4 percent to A$247.2 million ($230 million), Aristocrat said yesterday, beating the A$242.6 million average of nine analyst estimates compiled by Bloomberg.

Lufthansa lifts off

Deutsche Lufthansa AG, Europe's second-biggest airline, said 2007 profit more than doubled after the carrier flew more passengers and the takeover of Swiss International Air Lines Ltd added to growth.

Net income rose to 1.66 billion euros from 803 million euros a year earlier, Cologne, Germany-based Lufthansa said yesterday.

More profit for Meier

Walter Meier Holding AG, the Swiss maker of humidifiers used in Paris's Louvre museum, reported a 65 percent increase in full-year profit on the sale of an investment.

Net income rose to 60.1 million Swiss francs ($55.1 million) from 36.5 million francs a year earlier, the Staefa, Switzerland-based company said yesterday in a statement. Sales climbed 7.6 percent to 832.5 million francs.

Agencies

(China Daily 02/27/2008 page17)