Turkish C.Bank-higher forex res reqt to drain $719.6 mln

July 29 (Reuters) – Turkey’s Central Bank, which on Thursday raised its foreign currency reserve requirement to 10 percent from a previous 9.5 percent, said the measure would drain $719.6 million liquidity from the market.

The move is part of the central bank’s unwinding of financial-crisis induced measures intended to ease liquidity pressures. Turkey’s forex reserve requirements stood at 11 percent in December 2008.

(Reporting by Alexandra Hudson)

Nikkei gives up gains as China worry weighs

July 13 (Reuters) – Japan’s Nikkei edged lower on Tuesday, weighed down as Shanghai shares fell after China said it had no plans to relax tougher property measures anytime soon, though falls were checked by hopes for U.S. earnings later in the day.

China’s key stock index .SSEC fell 1.6 percent after the government said it would continue to rein in speculation in the country’s red-hot property sector, weighing on shares throughout Asia. [ID:nTST000264]

The benchmark Nikkei .N225 shed 0.1 percent or 10.88 points to 9,537.23 after earlier rising nearly 1 percent. The broader Topix fell 0.4 percent to 854.39.

Israel’s BioLineRx readies Nasdaq share offer

July 12 (Reuters) – Israeli drug development company BioLineRx (BLRX.TA) is planning a share offering on U.S. exchange Nasdaq, the company said on Monday.

BioLineRx said its board has decided to advance the process and has called a shareholders’ meeting to approve certain measures that must be taken.

The company has already started preparations for an offering and submitted confidential filings to the U.S. Securities and Exchange Commission, BioLineRx said in a statement to the Tel Aviv Stock Exchange.

The next filing is expected to be public, it added.

“It should be clear that the timing, size and structure of the offering have not been finalised,” the statement said.

BioLineRx signed a $365 million out-licensing deal last month with Cypress Bioscience (CYPB.O) for its anti-psychotic drug BL-1020. [ID:nLDE65J03G]

Last year New Jersey-based Ikaria Holdings Inc agreed to pay $285 million for a license to develop and market BioLineRx’s BL-1040 drug for heart attack patients. [ID:nL6111104]

BL-1040 is a myocardial implant for the treatment of acute myocardial infarction.

(Reporting by Tova Cohen; Editing by Michael Shields)

Moelven Industrier: Moelven earns 141 million in second quarter

Moelven earned NOK 141 million from operations in the year’s second quarter, which is
NOK 117 million more than last year for the same period.

The main reasons for the improved results are better operating conditions, the effect of
cost-cutting measures and higher prices for finished goods in the Timber and Wood
divisions.

Higher operating revenues
Operating revenues for the Group in the second quarter totalled NOK NOK 1 937 million (1
772). For the first six months of the year, operating revenues totalled NOK 3 414
million (3 228), while operating profit ended at NOK 164 million (minus 66).

President and CEO Hans Rindal of Moelven Industrier ASA says that the background for
the positive results are higher prices for sawn wood and increasing demand for the
Group’s products and services in the second quarter as a result of the normal seasonal
upswing in business activity.

– The second quarter has been a good period for us, which is at it should be because
construction activity usually increases during the summer months. The Building Systems
division, which is normally the last division to experience the cyclical increase in
demand, also seems to have passed through the low point in the cycle and orders reserves
are once again rising. We are far from the top, however, and I think it will take some
time before we are back to that level. In terms of capacity and costs, the Group is well
adapted to the current market situation, which is a good starting point for growth in
activity, even though the growth may be moderate, says Rindal.

Secure financing
The Group signed a long-awaited refinancing agreement in the second quarter and has
thereby secured financing for the coming five-year period.

– With the financing in order, we can now concentrate on developing the industry even
further. As a step in this process, the Moelven family has gained three new members:
Sør-Tre Bruk AS, Granvin Bruk AS and Eco Timber AS. All of these companies will become
business units in the building product division, Wood, and enhance the division’s
geographical reach and range of products and services. The objective is for the
builders’ merchant sector to experience Moelven as an even better supplier, says Rindal.

Even with the refinancing process behind us and a solid profit in the second quarter,
the CEO is still focused on developing the business as it is today, not based on
additional acquisitions.

– We have reserve capacity in many areas that we intend to make use of as soon as it is
needed. In any event, the financial markets are still not stable and politicians in many
countries need to work hard to balance public budgets. These factors will likely affect
the construction industry for a long time to come and is something we cannot ignore,
says Rindal.

Bottom likely reached in 2010
Overall business activity in the construction market is expected to reach bottom in
2010; however, there are major differences in development between various regions and
sectors.

The rehabilitation and additions market has been the most stable, and new-build
construction seems to be increasing faster than the construction of new commercial and
industrial buildings. Deliveries of building materials through chains of builders’
merchants are expected to vary as always according to season, with continuing high
activity in the third quarter and a downturn toward the end of the year.

Order reserves in the Building Systems division are on the rise, with the best market
developments taking place for the modular building businesses.

Prices in the European market for sawn wood have increased the first six months of the
year and market conditions are expected to remain good in the third quarter.

The Board of Moelven expects the annual result for 2010 to be significantly higher than
the previous year.

For more information:
President and CEO Hans Rindal, cell phone: +47 90 69 69 10
Director of Finances Morten Sveiverud, cell phone: +47 90 98 06 67
Assistant director of finance Rune F. Andersen, cell phone: 913 43 260

HUG#1430779

Yemen accuses rebels of kidnapping oil workers

July 10 (Reuters) – Yemen accused Shi’ite rebels on Saturday of kidnapping five oil workers this week and said it had foiled an attempt to blow up an oil pipeline.

Yemen is struggling to curb a separatist movement in the south and cement a ceasefire with Shi’ite rebels in the north, and is under pressure to combat a resurgent al Qaeda wing.

The Interior Ministry said that five employees of a state oil company were kidnapped by the rebels on Thursday.

“The Houthis captured five staff from an oil company in Marib along with their car when they were inspecting fuel stations in the directorate of Barat in al-Jouf province,” it said in a statement.

“The security forces … are using all measures to ensure their release.”

A Houthi source denied any link to the incident, saying the kidnap was a result of a tribal dispute.

In a separate statement, the government said security forces had foiled an attempt to sabotage an oil pipeline in Marib in the northeast of the country. The pipeline is used to transport oil to ports on the Red Sea.

It said that “unknown people” were forced to flee by security guards during the incident. (Reporting by Mohammed Ghobari; Writing by Jason Benham; Editing by Maria Golovnina)

Lorry Drivers Forced to Keep to EU Working Hours

KENT, UNITED KINGDOM, Jul 06 (MARKET WIRE) —
It has been revealed that self-employed lorry drivers will not be made
exempt from the working time directive, following events on June 15th.
MEPs voted against the move to make self-employed drivers exempt from EU
rules on working hours.

A European Commission proposal on the issue provoked a concentrated
debate from MEPs, largely centring on regulations and restrictions
already facing small businesses versus lorry drivers’ safety when working
long hours.

Flint Insurance, a leading HGV Insurance company reported how the
directive was first brought out in 2002 to regulate EU working times and
independent lorry drivers had been made exempt since 2009. However, they
will now be forced to adhere to the 48 hour maximum working week as well
as ensuring they take regular breaks.

It had been a concern to the Commission that some drivers purportedly
work over 80 hours a week, which raised the matter of over worked lorry
drivers prone to dangerous driving because of exhaustion.

A spokesperson for Flint, who specialise in Lorry Insurance , commented:
‘It is very important for drivers to make sure they take frequent breaks
and stay alert. Many lorry drivers are forced to work for lengthy
stretches on the roads, putting them at major risk of losing their
concentration. It is therefore vital that drivers avoid this by taking
appropriate measures whenever they feel extremely fatigued’.

The Commission hopes to prevent such situations so that drivers are not
at peril of putting their own life or others’ in danger. But some MEPs
claim that there is no evidence to show that lorry drivers are involved
in many accidents due to tiredness.

The main question to come out of the debate is whether or not small
businesses can realistically cope with the potential work hour
restrictions and organise themselves appropriately, while maintaining
their income and not overstretching resources.

Some MEPs have argued that they cannot and this latest restriction is
simply unnecessary. It remains to be seen whether or not the proposal
will go ahead or not.

About Flint Insurance:

Flint Insurance is an independent insurance broker. With over 30 years’
experience in the trade, they can offer a range of cover for businesses
including specialist HGV insurance cover throughout the UK. By using a
panel of over 35 insurers, they can provide the most appropriate and
cost-effective cover for their clients.

For further information, please visit: www.flintinsurance.co.uk or call
0800 021 4501.

Contacts:
HGV Insurance Public Relations – Flint Insurance
Dave Stoneman
Kent, United Kingdom
0208 309 5000
Davestoneman@flintinsurance.co.uk

Copyright 2010, Market Wire, All rights reserved.

Greece 2010 deficit reduction on target – PDMA slides

June 22 (Reuters) – Greece’s plan to reduce its budget deficit in 2010 is on target, prepared slides for the head of the country’s debt management agency (PDMA) at a bond conference in London showed on Tuesday.

Stocks | Bonds

The slides for PDMA chief Petros Christodoulou showed the government had already achieved a 40 percent reduction in deficit in first five months of 2010.

This was before the full implementation of the additional measures introduced in March and May, according to the slides. (Reporting by Emelia Sithole-Matarise and Ian Chua)

Norsk Hydro: First trading day on Oslo Børs ex subscription rights

NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES, AUSTRALIA, CANADA OR JAPAN

The shares of Norsk Hydro ASA (Hydro) will trade exclusive of the right to receive
subscription rights in the rights issue from and including today, June 22, 2010.

See announcements from yesterday for further information on the rights issue.

Investor contact
Contact Stian Hasle
Cellular +47 97736022
E-mail Stian.Hasle@hydro.com

*********
This announcement is not an offer for sale of securities in the United States or any
other country. The securities referred to herein have not been registered under the U.S.
Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be sold in
the United States absent registration or pursuant to an exemption from registration
under the U.S. Securities Act. Hydro does not intend to register any portion of the
offering of the securities in the United States or to conduct a public offering of the
securities in the United States. Any offering of securities will be made by means of a
prospectus that may be obtained from Hydro and that will contain detailed information
about the company and management, as well as financial statements. Copies of this
announcement are not being made and may not be distributed or sent into the United
States, Canada, Australia, Japan or any other jurisdiction in which such distribution
would be unlawful or would require registration or other measures.

In any EEA Member State that has implemented Directive 2003/71/EC (together with any
applicable implementing measures in any member State, the “Prospectus Directive”), this
communication is only addressed to and is only directed at qualified investors in that
Member State within the meaning of the Prospectus Directive.

This announcement is only directed at (a) persons who are outside the United Kingdom; or
(b) investment professionals within the meaning of Article 19 of the Financial Services
and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (c) persons
falling within Article 49(2)(a) to (d) of the Order; or (d) persons to whom any
invitation or inducement to engage in investment activity can be communicated in
circumstances where Section 21(1) of the Financial Services and Markets Act 2000 does
not apply.

Certain statements included within this announcement contain forward-looking
information, including, without limitation, those relating to (a) forecasts, projections
and estimates, (b) statements of management’s plans, objectives and strategies for
Hydro, such as planned expansions, investments or other projects, (c) targeted
production volumes and costs, capacities or rates, start-up costs, cost reductions and
profit objectives, (d) various expectations about future developments in Hydro’s
markets, particularly prices, supply and demand and competition, (e) results of
operations, (f) margins, (g) growth rates, (h) risk management, as well as (i)
statements preceded by “expected”, “scheduled”, “targeted”, “planned”, “proposed”,
“intended” or similar statements.

Although we believe that the expectations reflected in such forward-looking statements
are reasonable, these forward-looking statements are based on a number of assumptions
and forecasts that, by their nature, involve risk and uncertainty. Various factors
could cause our actual results to differ materially from those projected in a
forward-looking statement or affect the extent to which a particular projection is
realized. Factors that could cause these differences include, but are not limited to:
our continued ability to reposition and restructure our upstream and downstream
aluminium business; changes in availability and cost of energy and raw materials; global
supply and demand for aluminium and aluminium products; world economic growth, including
rates of inflation and industrial production; changes in the relative value of
currencies and the value of commodity contracts; trends in Hydro’s key markets and
competition; and legislative, regulatory and political factors.

No assurance can be given that such expectations will prove to have been correct. Hydro
disclaims any obligation to update or revise any forward-looking statements, whether as
a result of new information, future events or otherwise.

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)

Chidambaram reviews anti-Maoist operations in Jharkhand

Ranchi (Jharkhand) June 11 (ANI): Union Home Minister P Chidambaram held a detailed review of the ongoing anti-Maoist operations in Jharkhand on Friday.

Chidambaram also held consultations with senior officials and newly appointed advisors to the Jharkhand Government and discussed measures to tackle the Maoists activities in the State.

The two-hour long meeting held at the Raj Bhawan in Ranchi was attended by top officials of the state, including Chief Secretary AK Singh, Home Secretary JB Tubid and Director General of Police (DGP) Neyaj Ahmad.

Chidambaram also reviewed the Centrally sponsored special development scheme implemented in the ten Maoist-affected districts of the state.

This was Chidambaram”s first visit to Jharkhand after the imposition of the President”s rule on June 1. (ANI)

Israel says U.N. sanctions on Iran “important step”

June 9 (Reuters) – Israel said on Wednesday a fourth round of U.N. Security Council sanctions imposed on Iran over its nuclear programme was an important step, but called for even broader economic and diplomatic measures.

Currencies | Global Markets

“Israel sees the Security Council decision 1929 as an important step,” Israel’s Foreign Ministry said in a statement. “It is of great importance to implement the decision fully and immediately.”

“Together with this, it is clear the decision in itself is not enough,” the statement said, calling for stronger sanctions in different sectors in Iran. (Writing by Ari Rabinovitch)

Nations may block oil, gas investment in Iran-Gates

June 9 (Reuters) – A U.N. Security Council resolution against Iran could clear the way for individual states and the EU to take further steps, including blocking foreign companies from expanding Tehran’s oil and gas exports, U.S. Defense Secretary Robert Gates said on Wednesday.

Gates, in an interview taped before the Security Council voted to impose new sanctions on Iran, said the U.N. resolution, provided a legal platform for individual countries to take “more far-reaching steps individually.”

In an interview with al Jazeera’s “Frost Over the World” programme, Gates said those tougher measures could target front companies for the Iranian Revolutionary Guards including shipping lines and imports. “There are a variety of areas that can be targeted preventing foreign companies from going in to help them maintain or grow their oil or gas export capability or any other business enterprises,” Gates added, according to a transcript of the interview, which was taped on Wednesday in London hours before the U.N. vote. (Reporting by Adam Entous; editing by Tim Pearce)

Russia says U.N. Iran sanctions exclude use of force

June 9 (Reuters) – Russia’s Foreign Ministry said that U.N. sanctions against Iran agreed on Wednesday rule out the possibility of using force.

“All the measures, signed today in the resolution … exclude the possibility of employing force,” the ministry said in a statement on its website mid.ru.

“Nothing in the resolution’s text gives ground for taking measures or actions … including the use of force or the threat of force,” it said.

(Reporting by Amie Ferris-Rotman and Ludmila Danilova)

IMF welcomes Hungary fiscal goal, sets July talks

June 9 (Reuters) – An IMF mission to Hungary on Wednesday welcomed the government’s commitment to a 3.8 percent of gross domestic product fiscal target for 2010 and said it would discuss other policies in July.

“These measures and other policies under the program will be formally discussed in the course of the next review mission, which is scheduled for early July 2010,” IMF mission chief to Hungary Christoph Rosenberg said in a statement after talks in the capital Budapest. (Reporting by Lesley Wroughton; Editing by James Dalgleish) (lesley.wroughton@thomsonreuters.com; Tel: +1-202-898-8317; Reuters Messaging: lesley.wroughton.reuters.com@reuters.net))

Romania unions plan general strike in June

Romanian trade unions plan to stage a one-day general strike in the public sector in early June to protest against government plans to cut wages and pensions to comply with a 20 billion euro IMF-led aid deal.

“We aim to gather around 1 million people in a general strike across Romania the day parliament will discuss the IMF- backed measures,” Marius Petcu, head of one of the country’s largest unions CNSLR Fratia, told Reuters.

Romania’s biggest trade unions decided on Wednesday to back an indefinite pay strike by around 350,000 teachers on May 31, followed by warning strikes by transport workers, railwayman, civil clerks and nurses in subsequent days.

The country’s public sector employs 1.3 million workers, a third of all jobs. Its payroll swallows 9 percent of GDP and analysts say the cost is twice as high as it should be.

(Reporting by Radu Marinas; Editing by Charles Dick)

Singapore and Malaysia in joint oil spill clean-up

Singapore and Malaysia are conducting a joint clean-up operation involving 20 craft to remove about 2,500 tonnes of oil spilled after a tanker collided with a bulk carrier on Tuesday morning, Singapore’s port authority said.

The spill measures about 4 kilometres by 1 km and was located 6 km south of Singapore’s southeastern tip at 0640 GMT, the city-state’s Maritime and Port Authority (MPA) said. Traffic through the Singapore Strait remained unaffected.

(Reporting by Alejandro Barbajosa; Editing by Ramthan Hussain and Dan Lalor)

N.Korea threatens to fire at South equipment at border

North Korea threatened on Monday to fire at South Korean equipment if it is set up at their heavily armed border to broadcast anti-Pyongyang messages, and vowed to take stronger measures if Seoul escalated tensions.

The warnings came in a statement from a military commander carried by the North’s KCNA news agency.

South Korea said on Monday it would resume loudspeaker broadcasts at the border that had been suspended for six years, as part of its punishment toward the North for the sinking of one of its navy ships.

(Reporting by Jack Kim; Editing by Jonathan Hopfner)

15 ft wall to fortify Baghdad

London, May 18 (ANI): Following a spate of suicide bombings in Baghdad the city’s governor has proposed the construction of a massive concrete wall around the city.

The huge city, which is home to approximately five million residents, will need a concrete wall of enormous dimensions. It will span 112 kilometres and will be 15 feet high.

The entry and exit to the city will be regulated at eight gates, which will be the only access points. This is likely to cause immense discomfort to the denizens as it would take at least an hour to gain entry into the city.

“We want to stop the terrorist from sneaking in. With the wall it will be much easier,” the Times quoted Shatha al-Obeidi, an aide to Salah Abdul Razzaq, the governor, as saying.

The authorities are hoping that the fortification will render the city much safer than it has been thus far. Previous measures include setting up of 1,500 checkposts and several miles of cement blast barriers both of which have failed to curb the violence.

These will be dismantled once the wall is completed.

“We have become a city filled with concrete. That will change,” said Al-Obeidi. (ANI)

Sex-ban on US troops not working, 15 female soldiers get pregnant in Afghanistan

London, May 16 (ANI): The American Army’s ban on sex hardly seems to be working with over fifteen pregnant women soldiers being sent home from Afghanistan.

The army had launched a vigourous campaign to counter rising incidents of pregnancy among women soldiers in Afghanistan, and measures like posters urging use of contraception have been put up in the medical centre and free condoms are being supplied in army camouflage tins.

But it has clearly met with little success.

“There have been so many pregnancies and the Army is starting to worry,” the Daily Express quoted a source, as saying.

Pregnant soldiers cause operational problems because they have to be replaced and seldom return within six months of giving birth, the paper reports. (ANI)

Indian doctor”s simple checklist for health at every age

Washington, May 7 (ANI): An Indian doctor has organised a simple checklist for health at every age, by collecting some of the “generally accepted truths” on how to prevent disease.

Shantanu Nundy, MD, a second-year resident in internal medicine at the University of Chicago Medical Center, was driven by his mother”s health questions and the difficulty of providing simple, reliable answers.

After making the checklist, Nundy persuaded the Johns Hopkins University Press to publish them as Stay Healthy at Every Age: What Your Doctor Wants you to Know.

“We all know it is far better to prevent an illness than to treat it,” he said.

“Yet because millions of Americans don”t know these things, and doctors don”t take the time to tell or remind them, thousands die each year from preventable disease,” he explained.

Five well-established but little-used measures, he argues, could save 100,000 lives a year, things as simple as taking a daily aspirin or getting a flu shot.

Yet, misled by a system designed to treat the sick rather than preserve health, fewer than half of those who could benefit know about and bother to take those simple steps.

This guide gives readers the tools to understand and acquire the preventive services they need.

Checklists, the simpler the better, have recently gained status in the world of medicine.

First employed in intensive care units, where complexity is vast, stakes are high and errors can be lethal, they have helped caregivers establish a higher standard of performance.

Checklists serve to “make explicit the minimum, expected steps in complex processes,” according to Atul Gawande, MD, a surgeon who has written a book about their value in medicine.

They can lower infection rates, prevent complications and reduce time in the hospital.

Nundy has adopted the checklist approach but shifted it from the complex world of the ICU to primary care, and from the doctor to the patient.

The idea came from his mother. She struggles with type-2 diabetes. As a medical student, eager to help, he combed through his texts and patient encounters looking for ways to keep her healthy.

He found quite a few-nothing new or surprising, but a long list of established, verified recommendations.

He was surprised to learn, however, that although his mother saw a physician regularly, much of the standard advice was new to her.

“She has a doctor. She has insurance. She has a college education and worked for the World Bank. But she didn”t know a lot of the basic steps,” he said.

So he stepped in, with constant advice on medicines and tests, diet and exercise. Over time, thanks to his diligence, the suggestions piled up. They soon became overwhelming.

So Nundy began searching the medical literature for simple comprehensive lists of which steps to take, which tests to consider at each age and which ones to avoid.

He found pieces of what his mother needed, but they were spread over many sources, primarily guidelines from the United States Preventive Services Task Force and the Centers for Disease Control and Prevention.

He could not, however find all the preferred advice in one place, so he set out to compile it himself. That led to the book.

The core of the 366-page book is 18 pages of lists, the current state of the art of preventive health through each phase of life.

There is a one-page checklist for early childhood and two pages for adolescents or those in their 20s.

With age comes extra pages: three each for the 30s, 40s, 50 to 64, and 65 and over. Some advice is for everyone, some just for women or men, with additional measures for people at greater risk for specific ailments.

Early childhood is mostly about screening and vaccinations. Sexually transmitted disease become a prominent health issue during adolescence and never quite goes away.

Diet and exercise, and alcohol and tobacco use, come to the fore in the 20s and 30s.

Cardiovascular issues gain prominence in the 40s, especially for men, and breast cancer prevention and detection for women. Colon cancer screening tops the list for the 50s.

After 65, vaccinations re-emerge as a crucial prevention tool. At age 80, those who started taking aspirin in their 40s or 50s can stop.

Some widely promoted health measures, on the other hand, don”t make the list. Despite nationwide campaigns for prostate cancer screening, the benefits remain uncertain, so no recommendation.

Nor do vitamin supplements help those who eat a healthy diet.

“They aren”t cheap. They aren”t covered by insurance. It”s just an extra pill,” Nundy said. (ANI)

Australia”s High Commissioner expects fall in Indian students visa applications

Chennai, Apr 19 (ANI): Australia”s High Commissioner to India Peter Varghese on Monday said the visa applications by Indian students would drop in the current year following a series of attacks on them.

“The application for the student”s visa will fall this year. I think that probably reflects a whole number of factors but I think in larger term, we will see a rebuilding of the numbers,” said Peter Varghese on the sidelines of a function in Chennai.

Varghese further said that a slew of measures have been undertaken by the Australian Government to ensure safety to Indian students.

“The government has been taking several measures to address the issue. I believe, we are succeeding in managing it. We have increased police”s resource; we have changed legislation to give police greater power to search, said Varghese.

“We have ensured that perpetrators are brought to justice as soon as possible, we had over 70 arrests of those involved in these attacks and they are being dealt with our court system,” he added.

Over 100 cases of assault and death have been reported since last year in Australia, especially from Melbourne city and its suburb due to radical overtones. (ANI)