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(MENAFN - AFP) US existing-home sales were flat in March and price growth slowed, the National Association of Realtors said Tuesday.

Previously owned homes sold at an annual rate of 4.59 million units in March, down a bare 0.2 percent from February and 7.5 percent lower than a year ago, NAR said.

NAR's chief economist, Lawrence Yun, said the current sales pace is ...


(MENAFN - AFP) US stocks rose in early trade Tuesday following solid earnings and huge deals announced by major pharmaceutical companies.

About 35 minutes into trade, the Dow Jones Industrial Average advanced 59.69 (0.36 percent) to 16,508.94.

The broad-based S&P 500 added 7.04 (0.38 percent) at 1,878.93, while the tech-rich Nasdaq Composite Index rose 28.97 ...


(MENAFN - AFP) Huge deal-making in the pharmaceutical sector gave European stocks a shot in the arm on Tuesday, even though tension over the crisis in Ukraine lurked in the background, traders said.

Shares in European pharmaceutical groups surged owing to a major reshaping of the sector, driven by Novartis of Switzerland and GlaxoSmithKline in London.

London's FTSE ...


(MENAFN - AFP) European stock markets rallied in morning deals on Tuesday as shares in pharmaceutical groups surged owing to a major reshaping of the sector.

London's benchmark FTSE 100 index climbed 0.79 percent to 6,677.55 points compared with Thursday's closing level -- the last trading day before European markets closed for Easter.

Frankfurt's DAX 30 jumped ...


(MENAFN - AFP) Japanese carmaker Toyota said employees at its strike-hit complex in southern India returned to work Tuesday, ending a five-week standoff.

Unionised employees had refused to go back to their jobs at the twin plant complex near high-tech hub Bangalore following an end to an eight-day company lockout last month, amid a dispute over pay and other issues.

Toyota ...


(MENAFN - AFP) Electrical appliance group Philips reported a 15.0-percent slump in net first quarter profit on Tuesday, blaming a weak performance by its new strategic activities in healthcare equipment.

Net profit plunged to 137 million euros ($190 million) because of a fall in underlying profit on a 12-month comparison.

But this was better than the average figure ...


(MENAFN - AFP) China will cut the amount of funds rural banks must keep in reserve by up to two percentage points, the central bank said Tuesday, easing monetary policy in a bid to boost its slowing economy.

The announcement comes after the government said last week that gross domestic product grew 7.4 percent year-on-year in the first quarter, sharply down from 7.7 percent ...


(MENAFN - AFP) A much-loved pope will be declared a saint on Sunday but not everyone in the Catholic Church agrees.

John Paul II also alienated many left-wing Catholics and has been blamed for hushing up child sex crimes.

"Not all the people of God agree about canonisation," the International Movement We Are Church said in a statement ahead of the canonisation ceremony ...


(MENAFN - AFP) British pharmaceutical giant GlaxoSmithKline is to sell its oncology business to peer Novartis for $16 billion and to buy the Swiss company's vaccines division, GSK announced on Tuesday.

Under a "major three-part transaction" GSK and Novartis have agreed also to create a consumer healthcare business, according to a statement issued by GlaxoSmithKline.

US ...


(MENAFN - AFP) In the Cova Funda restaurant, a yellowed portrait hangs over the bar: Antonio de Oliveira Salazar, the dictator who gripped Portugal in his fist for half a century.

Forty years after the April 25 revolution that swept away the remainder of his regime, "Salazar salt cod" is on the menu here in his home town of Santa Comba Dao.

Many still nurse the wounds ...

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