| (AFX UK Focus) 2008-03-18 10:24 GMT: TUI currently not in talks to merge Hapag-Lloyd with Neptune Orient Lines UPDATE
(Updates to add CEO comments on Hapag-Lloyd divestment's effect on net debt) FRANKFURT (Thomson Financial) - TUI AG is currently not in talks to merge its Hapag-Lloyd container shipping unit with Temasek Holding's Neptune Orient Lines (NOL), chief executive Michael Frenzel said. "There are no talks with NOL," Frenzel said. "But we are open to the company and are waiting to see whether there will be concrete talks." TUI yesterday said its supervisory board has decided to split Hapag-Lloyd from the rest of the company. TUI said it will examine all options for Hapag-Lloyd, including a spin-off, merger or sale to an investor. Media reports previously said NOL is interested in Hapag-Lloyd and may offer as much as 6-7 bln usd for the world's fifth-biggest shipping line.
Attack credit card debt with a 30-month debt-management plan, advises radio personality Clark Howard.
"I want it all ... I want it all ... I want it all ... And I want it now!" The refrain of this 1989 Queen rock anthem could easily be the unofficial theme song of the U.S. consumer. In reality, there's often a huge chasm between wanting it all and being able to afford it all -- and unfortunately, many Americans are discovering that pursuing an untenable lifestyle of material abundance often leads to a growing burden of debt and an uncertain financial future. .
Jordan—2008 Article IV Consultation Concluding Statement of the IMF Mission 1
The authorities have taken bold steps to reduce pressure on the budget by removing the fuel subsidy. The key near-term policy challenges are to bring inflation back down quickly and to mitigate risks related to fiscal and external vulnerabilities. 1. The Jordanian economy continued to perform well in 2007. Economic growth is estimated at close to 6 percent for the year, and the unemployment rate has continued to come down. Foreign Direct Investment (FDI) inflows remained strong and international reserves increased substantially. Inflation, which had picked up following the fuel price adjustment in 2006, declined from almost 9 percent (year-on-year) in early 2007 to below 4 percent by mid-year. 2. Rapidly rising international fuel and food prices put pressure on the fiscal and external accounts, especially in the second half of the year.
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