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Germany has been awash in red ink this year, and no sector has been flooded worse - and with potentially greater consequences - than the banks. Last week Deutsche Bank, Germany's largest and considered its strongest, posted a surprise third-quarter, pre-tax loss of [EURO] 181 million, down from a [EURO]363 million profit for the same period in 2001. Deutsche's Munich-based counterpart HVB, Germany's second-largest bank and Europe's largest lender, also posted a third-quarter loss - of j447 million, compared to a j94 million profit for the same period last year. Commerzbank and Dresdner...
...committed to bringing new jobs to the Commonwealth. That’s something I’ve spent my lifetime doing,” Romney said at the Oct. 9 gubernatorial debate. “I’ve worked in the private sector. I’ve created new jobs here in Massachusetts with brand new small companies...
...million "cyber city" to attract new software and IT companies. The government promises low taxes, duty-free imports of IT equipment and automatic residency for anyone who invests more than $500,000 in the industry. It is also passing a raft of laws to protect and regulate the sector. And a recently completed undersea fiber-optic cable from Portugal along the west coast of Africa to India and Malaysia via Mauritius will increase the country's bandwidth by a factor of 4,000. Says Prime Minister Anerood Jugnauth: "Our physical isolation will no longer hold us back...
...majority of his fellow cadets repeat this sentiment. It is at once idealistic and practical—serious patriotic aspiration toward leadership and service to one’s country, coupled with a strong awareness of the private-sector marketability of an officer pedigree. Most ROTC officer candidates don’t envision a lifetime in the military...
...clear: head for greener, safer pastures. Benny Soetrisno, head of the Indonesian Textile Association, says the industry is suffocating. Last year, Indonesian textile exports fell by 7%, to $7.6 billion. Soetrisno expects another 10% drop this year. "If we don't find a solution soon, the textile manufacturing sector could be dead by 2005," he warns, adding that 1.3 million jobs would be lost with it. "At this point, we're not growing at all. We are only trying to survive." Anton Supit, chairman of the Indonesian Footwear Association, tells a similar story. He expects exports of footwear to reach...