Vienna - Austrian oil and gas group OMV reported an increase of more than 60 per cent in profits and operating earnings for the second quarter of 2008 on Wednesday, as rising oil prices offset the effects of a weak dollar.

Net profit after minority interests rose to 684 million euros (1.061 billion dollars) between April and June 2008, 66 per cent above the 411 million euros it made in the same period last year. Minorities accounted for 98 million euros.

OMV reported sales of 6.965 billion euros, up 52 per cent from the first quarter of 2007.

Munich - The giant German insurer Munich Re said Wednesday it was holding its dividend steady despite investment write-downs leading to a 47-per-cent slump in second-quarter earnings.

The Munich-based reinsurer said net profit in the three months to the end of June fell to 599 million euros (929 million dollars) compared to 1.14 billion euros a year ago.

Last month, the group said the shake-out in global financial markets sparked by the US subprime mortgage-sector crisis meant it could miss its 2008 earnings forecast.

However, the reinsurer said its 2008 dividend would remain at 5.50 euros a share.

Frankfurt - Germany's second biggest bank, Commerzbank AG, reported Wednesday a higher-than-forecast 6.4-per-cent rise in second-quarter net profit despite fresh write-downs resulting from the global financial crisis.

The Frankfurt-based bank said the rise in net quarterly profit to 817 million euros (1.3 billion dollars) was helped along by a tax gain.

However, the bank, which has been weighing up a merger with cross- town rival Dresdner, also went on to warn that tough market conditions could make mean that 2008 earnings could come in lower than last year.

Frankfurt - Shares in Adidas AG rallied Tuesday after the German sporting goods-to-fashion group reported a 12-per-cent rise in second-quarter net profit after the European football championships and the Beijing Olympics boosted sales.

The world's second biggest sports equipment maker said net earnings in the latest quarter rose to 116 million euros (180.2 million dollars) compared to 104 million euros a year earlier.

Taipei - Taiwan's rice exports surged 20-fold in the first half of 2008 due to a global rice shortage caused by main rice exporting countries' cutting or banning exports, a newspaper report said on Tuesday.

In the first half of the year, Taiwan exported 6,634 tons of rice, up from 229 tons in 2007 during the period, earning 8.2 million US dollars as compared to the 230,000 US dollars earned in the first half of last year, the United Evening News said, quoting the Council of Agriculture (COA).

Copenhagen - Increased sales of beer and soft drinks helped improve Danish brewer Carlsberg's second-quarter 2008 operating profit, the group said Tuesday.

The quarter's operating profit before special items was 3.15 billion kroner (658 million dollars), compared to 1.8 billion kroner for the corresponding business period in 2007.

Turnover in the quarter was 17.54 billion kroner, compared to 12.63 billion kroner in the second quarter 2007.

The group's share price increased 7 per cent in early morning trading on the report.