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Forex news - recent top stories



15:03,  12 July 2007
US May trade deficit up 2.3 pct to 60.0 bln usd as expected 
WASHINGTON (Thomson Financial) - The US trade deficit rose 2.3 pct in May to 60.0 bln usd as Americans imported more and more expensive oil and other commodities.Economists were looking for a 60.0 bln usd deficit, expecting imports to recover from their April slide.

12:49,  12 July 2007
Forex - Euro at all-time high against dollar following strong GDP data 
LONDON (Thomson Financial) - The euro continued to post fresh all-time highs against the dollar, supported by an unexpected upward revision to first quarter GDP growth and robust industrial production figures.

09:45,  12 July 2007
Forex - Euro at fresh all-time high against dollar after hawkish ECB bulletin 
LONDON (Thomson Financial) - The euro climbed to a fresh all-time high against the dollar after a hawkish European Central Bank monthly bulletin, amid ongoing concern about the US sub-prime mortgage market.


See also:       

• Pakistan 
• Turkey 
• United States 

• USA & Canada 
• Middle East 
• Asia 

• Business news 
• Government 

17:02, Tuesday, 06 March 2007

Pakistan airline cuts European flights


KARACHI, Pakistan (AP) - Pakistan's national airline announced Tuesday that it had slashed its flights to Europe by nearly 50 percent after the European Union barred most of its planes due to safety concerns.

The EU's executive commission said Monday it would allow Pakistan International Airlines to use only its seven Boeing 777 planes on services to EU airports due to worries about the age and maintenance of its other long-haul aircraft.

PIA said the airline had cut the number of weekly flights to Europe and the United States from 42 to 24, effective immediately, as a result of the ban.

Services to Frankfurt, Amsterdam, Milan and Chicago have been stopped altogether. Flights to destinations including Manchester, New York, Istanbul and Paris will continue, but with reduced frequency.

PIA chairman Tariq Kirmani criticized the EU decision as "unjust and discriminatory," insisting that the airline's entire fleet was safe.

"PIA's planes are safe and airworthy," he told reporters at PIA's headquarters in the southern city of Karachi. He said PIA had a better safety record than some other airlines still allowed to fly in Europe. He didn't name those rivals.

However, he said PIA would upgrade its fleet to address the EU's concerns and that it had already contacted Turkey's national airline about leasing two extra planes to serve the affected European routes. It hopes to restore some of the cut flights by March 15.

PIA had been using aging Boeing 747, Airbus 310 and other aircraft on the lucrative European routes. The B-747s and A-310s and other smaller aircraft account for the bulk of the airline's inventory of over 40 long-range and regional aircraft.

PIA was considered one of the best airlines in the developing world in the 1960s and 1970s. Critics blame the slide in quality and maintenance standards on government interference in the airline's operations.


 

Forex news - 06 March 2007
17:55 DOE forecasts higher gasoline prices
17:55 Brasil Jan industrial production down 0.3 pct vs Dec 2006
17:27 FDA chief: Don't regulate tobacco
17:15 Illinois to investigate Ameren promotion
17:02 Pakistan airline cuts European flights
16:42 Latvia govt extends deadline for selling stake in telecoms cos
16:39 Spanish leader pushes N. Africa train
16:35 Forex - Major currencies trade in a range; dollar little affected by data
16:26 Deadline nears for unclaimed '03 refunds
16:26 Govt. seeking better nuclear detectors
16:22 US public increasingly pessimistic about victory in Iraq - poll
16:22 Calif. wants fed declaration for freeze
16:21 Premera ends effort to go public
16:20 AFX TOP STORIES Europe 1605 GMT
16:20 AFX TOP STORIES Global 1605 GMT



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