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(MENAFN - AFP) Canada's economy picked up momentum in the second quarter after starting the year in a slump, with activity increased in most sectors, the government statistical agency said Friday.

Growth rose to 0.8 percent, from 0.2 percent in the first three months of the years, Statistics Canada said.

At an annualized rate, gross domestic product (GDP) was 3.1 percent ...

 
(MENAFN - AFP) Russia's number two oil company Lukoil said on Friday its net profit rose by 13 percent in the second quarter as production increased.

Net profit at the largest private oil company in Russia totalled $2.4 billion (1.8 billion euros) between April and June.

"Lukoil continued to implement measures to enhance output and bring new facilities into development," ...

 
(MENAFN - AFP) US stocks traded flat early in Friday's session, holding on to recent gains despite an escalation in Ukraine tensions and a disappointing report on consumer spending in July.

Action remained light at the start of the holiday-lengthened final weekend of the summer.

About 30 minutes into trade, the Dow Jones Industrial Average was down 16.91 points (0.10 ...

 
(MENAFN - AFP) A Chinese-owned company set up to take over Saab's assets after the troubled Swedish carmaker's bankruptcy said on Friday it had succeeded in being placed in receivership.

National Electric Vehicle Sweden, or NEVS, had applied to be protected against creditors while seeking new sources of financing.

"The district court of Vaenersborg today, Friday August ...

 
(MENAFN - AFP) Swiss banks have suffered from a massive outflow of funds since 2008, a survey said on Friday, squeezed by an international crackdown on tax evasion.

The survey by auditors PricewaterhouseCoopers attributed much of the outflow - totalling almost 350 billion Swiss francs (290 billion euros, $380 billion) - to customers paying fines for undeclared assets held ...

 
(MENAFN - AFP) Global oil prices rose on Friday, supported by renewed Russia-Ukraine tensions and bright US economic growth data, analysts said.

Brent North Sea crude for October added 42 cents to $102.88 per barrel in midday London deals.

US benchmark West Texas Intermediate for October delivery gained 57 cents to $95.12 a barrel.

Ukraine and the West said on ...

 
(MENAFN - AFP) Audi, the top-of-the-range car maker belonging to auto giant Volkswagen, said on Friday it is recalling 70,000 cars worldwide owing to potential problems with braking systems.

An Audi spokesman told AFP that the recall affected the company's A4, the A5, the A5 Cabrio, the A6, the A7 and also the Q5 crossovers models built between March and December 2012.

The ...

 
(MENAFN - AFP) Brazil is in technical recession after the country's national statistical institute unveiled a 0.6 percent drop in second quarter GDP on Friday, while revising the Q1 figure down from 0.2 to -0.2 percent.

The figures, coming barely a month before the country goes to the polls for presidential and elections, will worsen already low industrial and consumer confidence ...

 
(MENAFN - AFP) British supermarket giant Tesco plunged deeper into crisis on Friday after issuing yet another profits warning, cutting both its dividend and capital expenditure, and rushing in its new chief executive.

In reaction to the dire trading update, Tesco shares plunged by more than 8.0 percent in early morning deals on the London stock market to strike an 11-year ...

 
(MENAFN - AFP) Its detonation is one of the most iconic scenes in movie history.

Now, 57 years after it was blown to smithereens, authorities in Sri Lanka plan to rebuild the "Bridge on the River Kwai" to assuage the anger among locals over a controversial dam project.

While the World War II epic was supposedly set in Japanese-held Burma (present-day Myanmar), it was ...

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