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Geneva  - The Swiss economy is expected to contract by 2.7 per cent in 2009, the State Secretariat for Economic Affairs (SECO) said Wednesday, in the second time the forecast has been downgraded this year.

A previous forecast in March had predicted a 2.2 per cent decline in Gross Domestic Product in 2009 and a slim expansion of 0.1 per cent next year. The downgrade now expects 2010 to see a continued contraction, with likely contraction of 0.4 per cent.

Rome - Italian Prime Minister Silvio Berlusconi described Wednesday as "trash," news reports that prosecutors are examining possible evidence that several women received money in exchange for attending parties hosted by the premier.

Italy's most respected daily, Corriere della Sera, said the probe stems from wiretapped conversations of businessmen based in the southern city of Bari, in which they mentioned payments made to women recruited for the parties.

Hamburg - Motorsport's world governing body FIA and the Formula One teams' association FOTA appeared no nearer to ending their differences Wednesday.

Rejecting a proposal to extend a deadline on new entries, FIA president Max Mosley told FOTA to accept the rules for 2010 by Friday at the latest.

If necessary these could be revised in new negotiations, he said.

Mosley was responding to a letter from FOTA which put forward "compromise" proposals in a bid to end the row over rules and funding.

Kiev  - Ukraine's minister of transport quit his portfolio on Wednesday to protest poor government financing of preparations for football's Euro 2012, Channel 5 television reported.

Yosyf Vinsky, the former Soviet republic's top transport official since January 2007, said he had no choice but resignation because his boss, Prime Minister Yulia Tymoshenko, "was blocking the allocation of funds required to build infrastructure facilities linked to Ukraine's hosting the 2012 European Championships.

Omaxe Ltd has notified that Omaxe Infrastructure & Construction Pvt. Ltd, a 100% subsidiary of the Company has secured three construction contracts worth Rs 128.34 crore from U P Projects Corporation Ltd (a UP Government Undertaking).

The company has bagged the first contract worth Rs 63 crore for renovation / face lifting of ESI Hospital, Bhubaneswar.

Further, it secured the second contract for renovation / face Lifting of ESI Hospital, Choudwar, Cuttack at an estimated cost Rs 59.30 crore.