World Economy

Austria's Magna Steyr to build Porsche's Boxsters

Stuttgart - Luxury German sports carmaker Porsche SE said Thursday it was shifting production of its Boxer model from Finland to Austria.

Italy's UniCredit to cut 9,000 jobs

Rome  - Italy's biggest bank, UniCredit, announced Thursday it plans to slash its workforce by 9,000 people as part of a new three-year business plan.

New Zealand consumer confidence at 17-year low

Wellington  - Consumer confidence in New Zealand is at its lowest level since the recession of 1991, according to a survey reported Thursday.

Polish stock exchange eyes buy-in to Ukraine market

Ukrain GovernmentKiev- Polish Warsaw Stock Exchange (WSE) is considering a buy-in to Ukraine's growing stocks and securities industry, a WSE official said Wednesday.

Poland's leading trading site for company shares, the WSE is conducting talks on the purchase of Ukraine's Indeks stock exchange, said Ludwik Sobolewski, WSE President.

Results of the talks will be made public by September, said Beata Jarosz, a WSE board member, speaking at a Kiev press conference.

Poland hikes rates as inflation fears grow

Warsaw/Berlin - Poland's national bank raised its benchmark interest rate by 25 basis points Wednesday amid growing inflation fears and a strong economic performance.

Dutch bank president gives an inflation warning

Amsterdam - Inflation in the Netherlands is expected to increase, Dutch central bank president Nout Wellink indicated during a debate with the Dutch parliament on Tuesday.

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