The European Union's new ex-communist member states continued to enjoy an economic boom in 2006, but are likely to face a slowdown this year, the World Bank said in a study.

British Airways has announced the cancellation of all its flights for two days next week from London's Heathrow airport, and many from Gatwick, due to a planned strike by cabin crew.

Global crude oil prices eased as traders focused on rising US energy reserves.

German electronics giant Siemens has reported first-quarter profits set back at the last minute by a record fine by the European Commission.

Nintendo has said its net profit rose 43 percent in the three quarters to December as video-game fans worldwide snatched up its DS and next-generation Wii machines.

Swedish retail clothing giant H and M has reported earnings for 2006 exceeding two billion dollars for the first time on the back of rapid global expansion.

Sony has said it will launch its delayed next-generation PlayStation 3 console in Europe, Africa, the Middle East and Australasia on March 23, with only its costlier version available.

Japan has said its trade surplus shrank 7.0 percent in 2006, declining for a second straight year as China takes over the mantle of the world's top exporter of manufactured goods.

China and India have grabbed the early spotlight at the World Economic Forum in Davos as delegates debated, with both anticipation and concern, the growing economic clout of the two Asian giants.

China's economy expanded by 10.7 percent in 2006, according to the government, reporting growth not seen for over a decade and putting it on track to become the world's third biggest next year.

South Korea will do its best to reach a free trade deal with the United States but will not suffer "one-sided" losses, President Roh Moo-Hyun has said.

Australian construction group Multiplex, bogged down in difficulties at its Wembley Stadium project in London, has said it has received an approach from a third party which could lead to a takeover offer.

Thousands of British Airways cabin crew will carry on with a two-day strike next week, a spokeswoman for the airline has confirmed.

Mobile phones are proving the saviour of the struggling music industry and could be the vital springboard needed to propel the business finally into digital sales, industry experts have said.

Job creation has not kept track with economic growth and governments and the international community must do more to ensure that new jobs are sufficiently well paid to help tackle poverty, the International Labour Organisation said.

American aerospace company Boeing reiterated its confidence in the delivery schedule for the first B787 Dreamliner, and added that it had helped some of its sub-contractors who were in danger of being late.

Portugal wants renewable energy sources like wind and wave power to account for nearly half of the electricity consumed in the country by 2010, Prime Minister Jose Socrates said.

Commonwealth Secretary-General Don McKinnon urged the European Union and the United States to relax their stances in the World Trade Organisation and pave the way for progress in global trade talks.

Sumitomo Mitsui Financial Group agreed to tighten its policies to fight money laundering in a settlement with US banking regulators, the US Federal Reserve said.

The US dollar regained some lost ground against the British pound and the euro, but lost some momentum against the Japanese yen as hopes diminished of further British interest rate hikes, traders said.