Hanover, Germany - World truckmakers were optimistic about huge opportunities in emerging markets Thursday at the IAA truck fair in Hanover.

"The technological potential in this sector has not yet been fully tapped," said German Automobile Industry Federation (VDMA) President Matthias Wissmann in a speech opening the biennial event.

Emerging economies with rapid rates of growth have helped cheer truckmakers amid concern of recession in the West.

Expanding industry and commerce in Russia, South America and South Africa mean much larger numbers of trucks are needed to deliver goods.

That growth is also reflected in the growing number of Russian, Indian and Chinese truckbuilders with booths at the IAA fair.

Hanover, Germany - Germany's biggest package-holiday company, TUI, said Friday it would establish a new hotel brand, Sensimar, and franchise the first three hotels in the chain in Greece and Turkey.

They are to open next summer on Crete and Rhodes and on the Turkish Riviera, the company based in Hanover said. By 2012, TUI aims to have a chain of 10 to 15 Sensimar hotels in operation in major holiday destinations.

Hanover - Giant German auto supplier Continental AG approved a takeover offer by smaller rival Schaeffler early Thursday morning after weeks of talks.

Bearings manufacturer Schaeffler agreed to increase its offer to 75 euros per share from 70.12 euros, the companies said. Continental chief executive Manfred Wennemer will step down by August 31.

Schaeffler will maintain only a minority share of tyre-maker Continental for four years.

The Continental board last month formally rejected Schaeffler's earlier 70.12 euros a share bid as too low.

A slump in the car industry combined with an 11-billion- euro acquisition last year had helped to drive down Continental's shares, leaving the group exposed to takeover.

Hanover, Germany - Truck operators in Germany are planning to follow the t

Hanover, Germany - Volkswagen said Friday it was abandoning plans to introduce a light pick-up truck in Europe.

Hanove