Frankfurt  - Germany's central bank ruled out a dramatic slump in Europe's biggest economy in its monthly report released Monday but warned inflationary expectations were becoming entrenched.

Despite fears that Germany could be edging towards a sharp downturn, the Bundesbank's August bulletin did not see the nation's economy spiralling down in the coming months.

But it said the nation was facing "an economic lean period during the second half of the year."

Frankfurt - German travel and shipping giant TUI AG said Thursday it had slumped into a loss during the second quarter despite a solid performance by its container ship operations.

The smaller-than-forecast 55.6-million-euro (82.7-million-dollar) quarterly loss compared to a profit of 58.9 million euros in the same period last year.

Announcing the results, TUI reaffirmed its forecast of an increase in earnings. Second-quarter sales rose 20 per cent to 6.25 billion euros.

Frankfurt  - The European Central Bank (ECB) left its key interest rate on hold Thursday amid growing economic concerns triggered by spiralling inflation and contracting growth.

Frankfurt  - German sports goods-to-fashion group Puma AG reported Thursday a modest rise in second-quarter earnings ahead of this week's opening of the Beijing Olympics.

Puma said net profit rose to 45.6 million euros (70.5 million dollars) compared to 45.2 million euros in the same quarter last year on the back of strong sales growth in the world's leading emerging economies in Asia and the Middle East.

Analysts had predicted that spending resulting from the European football championships and tough market conditions in the US would have undercut Puma's second-quarter earnings.

Frankfurt  - Rescuers resumed searching Saturday for a Lufthansa training plane that disappeared over the Adriatic Sea the previous day after taking off from Croatia, a Lufthansa unit said.

The twin-engined PA 44 vanished Friday with a flying instructor and a trainee on board. It was operated by InterCockpit, a Lufthansa subsidiary that trains pilots who go on to work for several European airlines. Light planes are used for part of the practical training.

An InterCockpit spokeswoman said the search was suspended during the hours of darkness and resumed when day broke.

Frankfurt - The Italian-owned bank HypoVereinsbank said Monday it had taken over a stake of about 10 per cent in German erotic company, Beate Uhse AG.