ECB hikes rates by 25 basis points

FrankfurtFrankfurt - The European Central Bank (ECB) delivered its first rate

German chemical makers expect sales rise thanks to Asia demand

Frankfurt - Buoyed by strong demand from Asia, Germany's key chemical sector is expecting a 5.5-per-cent rise in sales this year, the industry's association (VCI) said Thursday.

The VCI forecast production to grow 2.5 per cent despite increasing raw material prices and the threat posed to German chemical makers' foreign orders by the strong euro.

This comes after production rose 3 per cent in the first half of 2008, with the chemical sector one of Germany's key exporters.

However, signs of the impact on the industry of slowing global growth should emerge in the coming months, with production already slowing from last year's levels.

Amtek Auto Ltd All Set To Acquire KSM Castings

Auto accessory maker Amtek Auto Ltd plans to acquire Frankfurt-based KSM Castings for about 250 million euros (around Rs 1700 crore).

Bank shares gain on subprime hopes

bankFrankfurt - Shares in Deutsche Bank AG and UBS AG jumped Wednesday after the two giant European

Fuel-price protester burns own car in Frankfurt

Bio Fuel LogoFrankfurt  - An unemployed German outraged at the soaring price of fuel set fire to his own car Friday in front of the German city of Frankfurt's most iconic skyscraper.

Police said he parked the car near the 63-storey Messeturm building, poured a canister of petrol over it and set it alight. Signs taped to the car said, "Petrol Speculators!" and showed an internet address.

By the time police and fire crews arrived, the car had been gutted.

ECB head-office plans stumble, hunt for builder called off

ECB head-office plans stumble, hunt for builder called off