Business International

Financial firms, miners lead European stock rally

European stocks rose, led by financial firms and mining companies, on prospects for improved earnings. US index futures gained, while Asian shares fell for the first time in five days.

Central bankers make ready extra funds

The central banks of the United Kingdom and Switzerland promised extra funds to ease pressure on interbank lending rates yesterday while the European Central Bank said it is ready to add extra liquidity as needed.

Iraq blast lifts crude over $107

Oil jumped above $107 yesterday after saboteurs blew up one of Iraq's two main export pipelines.

Competition could cost Motorola dear

Motorola Inc, the biggest US mobile-phone maker, may find its money-losing handset unit is worth as little as $3.8 billion, a tenth of its value in 2006, now that Garmin Ltd and Hewlett-Packard Co are entering the market.

Biz people

US 'probably' in recession

IN BRIEF (Page 16)

Moody's points to huge potential of Islamic finance

The Islamic finance industry in Africa is set to expand to as much as $235 billion as economic growth accelerates and the continent attracts investments, Moody's Investors Service said.

Oz retail giant's profit rises 25%

David Jones Ltd, Australia's second-largest department store chain, said first-half profit rose 25 percent on Christmas demand for clothing and cosmetics.

Networking sites struggle to retain members

Virtual beer and vampires may no longer be enough to keep members of social networks like Facebook and News Corp's MySpace riveted to their computers.

Business International

US firms cash in on Iraq war

General Dynamics Corp, Harris Corp and L-3 Communications Holdings Inc benefited most among the Pentagon's 25 largest military suppliers from five years of war in Iraq, based on a combination of conflict-related sales and stock gains.