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The valuation is at a discount to the country's number-five lender, Bank of Communications (BoCom), whose shares trade at about 2.2 times book.
The first and last three days will be thepeak season of the National Day holiday. The aviation industry has entered into high season, with 400,000 passengers transporting everyday and load factor is close to 75 percent.
"These headcount reductions are indispensable. They will contribute to significant improvements in the competitiveness of Mercedes-Benz through an increase in productivity," the company said.
Dozens of MP3 player manufacturers in Shenzhen are bowing outas fierce competition has severely squeezed their profit margins.
The People's Bank of China may name banks including HSBC Holdings Plc., Citigroup Inc. and Bank of China as market makers in the yuan, a step toward a freely traded currency, bankers and traders familiar with the situation said.
"These firms make a decisive contribution to job creation. Our aim is to liberate their massive potential to improve competitiveness, tone up employment, boost economic growth and encourage social cohesion," Sioufas said.
Disruptions to oil and gas supplies may add to energy price gyrations,they said.
The physical and psychological damage caused by Hurricane Katrina is likely to reverberate across the global economy in ways that will curb growth well into 2006, economists say.
In an effort to gain some control over what motorists pay at the pump, Hawaii on Wednesday became the first state in the U.S. to set caps on the wholesale price of gasoline.
Rates on 30-year mortgages declined this week after posting increases for six consecutive weeks.
The Internet search leader said it will use the proceeds for "general corporate purposes," including possible acquisitions. Google added that it currently has no agreements or commitments to make a material purchase.
"Six weeks after the July 7 attacks killed 56 people, including four suicide bombers, the Greater London Authority (GLA) accepts there has been some downturn,"the economic daily reported.
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