Eurozone 'coming to a standstill'

15 September 2011 Last updated at 10:41 GMT The EU Commissioner for Economic Affairs, Olli Rehn says he expects 'a virtual standstill'

The European Commission has predicted that economic growth in the eurozone will come "to a virtual standstill" in the second half of 2011.

It halved its forecast for July to September to growth of just 0.2%, while the forecast for the last three months of the year is down from 0.4% to 0.1%.

The commission blamed financial market problems over the summer as well as weakening demand from outside Europe.

But it remained confident that there would not be a return to recession.

"Recoveries from financial crises are often slow and bumpy. Moreover, the EU economy is affected by a more difficult external environment, while domestic demand remains subdued," EU Economic Affairs Commissioner Olli Rehn said at a news conference to unveil the report.

"The sovereign debt crisis has worsened, and the financial market turmoil is set to dampen the real economy."

'Integral part'

The report predicted that member states having to cut back on their spending to reduce their debt would also hit growth.

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It is not clear why investors should be so thrilled by such an anodyne statement. It didn't say anything that had not been said before - indeed, the words from the French and German side didn't do much more than confirm that Greece was part of the eurozone”

End Quote Stephanie Flanders Economics editor, BBC News One of the countries currently cutting back its spending is Greece, which reiterated on Wednesday that it was determined to meet all the deficit reduction plans it has agreed to in exchange for its two bailouts.

There were supportive comments from eurozone leaders towards Greece on Wednesday, which boosted the stock markets on Thursday.

Eurozone leaders said Greece was an "integral" part of the eurozone.

Greece is set to receive the next loan from its initial EU and International Monetary Fund bailout later this month, but it will get this only if inspectors from the EU, European Central Bank and IMF agree that it is keeping up with its spending cut targets.

There have been concerns that they may rule that Greece has fallen behind. Without this month's loan, Greece will not be able to meet its debt payments by the middle of next month.

BBC correspondents in Athens, Berlin and Paris describe differing perspectives on the crisis

The commission said that inflation would fall back faster than had been expected, because commodity price rises had slowed more than predicted.

Also on Thursday, official figures from Eurostat showed that inflation in the eurozone stood at an annual rate of 2.5% in August, unchanged from July's figure.

The inflation figure for the whole of the EU was 2.9% in August, also unchanged from July.

The commission predicted that those would also be the inflation figures for the whole of 2011.

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iPhone 5 is coming!

While there have been numerous speculations and rumors about Apple’s iPhone 5 for months now, it’s only today that we’re getting something more local and close to home.

At least one of the editors of a Philippine newspaper is getting an early look at the upcoming iPhone 5.

I can’t categorically reveal the name and newspaper for fear that it would get them into trouble with Apple. Besides, there’s an NDA to be signed. You know Apple is super-strict about these kinds of stuff.

Photo of an iPhone 4, predecessor of iPhone5

The review unit cannot be published nor shared or revealed publicly within the two-week period before it is announced. That should give us an idea that Apple will officially announce the iPhone 5 in 2 or 3 weeks time.

In a related news, Deutsche Telekom in Germany has actually confirmed pre-orders for the yet-to-be announced iPhone 5.

BGR also leaked a document from Best Buy outlining product introduction of the iPhone 5 with pre-order starting 1st week of October.

We all know Walt Mossberg of the Wall Street Journal and David Pogue of the New York Times also get iPhone review units a week or two before they are announced/released.

So here’s the likely scenario — iPhone 5 announcement later this September with launch and release from Globe Telecom by October.

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Anti-Cancer Virus Coming Soon!

Anti-Cancer Virus is being developed in what researchers have labelled a medical first.

The study of an engineered virus, injected into the blood, can selectively target cancer cells throughout the body shows a lot of promise.

In a small trial on 23 patients, the virus actually attacked only tumors, leaving the healthy tissue alone, according to the Journal Nature. But they have needed to be injected directly into tumors in order to evade the immune system.

Researchers said the findings could one day become therapeutic and hopefully put an end to the most dreaded disease that’s been killing millions around the world annually.

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New TV5 Kumare is Coming to Town

Rumor has it that a new kumare will soon do the hosting chores together with Tiyang Amy Perez and Nyora Chiqui Roa-Puno on Sapul sa Singko’s mommy-centric segment ‘Kumare Tips.’

The segment dedicated to giving mothers homemaking solutions, financial literacy and other household concerns has been gaining quite a following after its debut on the morning show.

And to stir up who the latest kumare is, TV5 recently launched its mobile campaign, “Sino ang Bagong Kumare?” text promo.
Everyone gets the chance to win one of the 50 Kumare Kikay Kit (KKK) treats worth 2,000 pesos each! Just text KK and send to 2346. Each SMS costs Smart and Globe subscribers P2.50, while P2.00 for Sun subscribers.

The announcement of 50 winners will happen on September 5 (Monday) during the reveal of the new kumare at 7am on TV5. Watch out for a bigger and better Kumare offering only on the Kapatid Network’s morning block.

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New iPad with retina display coming out early 2012?

If you thought the iPad 2 looks good, then Apple again plans to blow your socks off with the hi-res retina display of its next gen iPad 3, if what the Wall Street Journal reports comes to pass.

It wouldn't be surprising if that happens, given Apple's history of wowing its followers, then giving them something else to lust over soon after, an inexhaustible schedule of want that rivals any vampire-like hunger. 

Using sources "familiar with" component suppliers and its assembler in Asia, the Journal's Lorraine Lukreports from Taipei that "the company has ordered key components such as display panels and chips for a new iPad it is aiming to launch in early 2012."

This iPad would pack an even bigger visual wallop than its predecessor, the current iPad 2, with a 2048 by 1536 hi-res display (compared with the iPad 2's 1024 by 768). 

While none of the official spokespeople from the companies that produce the parts that make the new iPad were willing to comment on the record, Luk's sources told her Apple had already placed orders for about 1.5 million iPad 3s in the fourth quarter. Taipei is the place to be when it comes to iPad rumors, as it's the hub of manufacturers tied to Apple, which also has iPad manufacturing through the controversial Foxconnin China (though that too is an extension of Taiwan's Hon Hai Precision, as well as being China's largest contract manufacturer). Foxconn's plant suffered a blow this spring with an explosion in May that killed three workers.

As of early August, an estimated 29 million iPads have been soldsince the tablet went on sale in April 2010, which will give the tab a robust 61 percent of the market by the end of the year. Despite Android tabs popping out like Tribbles, Apple's signature device still commands this particular segment of the wireless world, and with a next gen in the works, will try to continue that reign.

More stories:

Check out Technolog on Facebook, and on Twitter, follow Athima Chansanchai, who is also trying to keep her head above water in the Google+ stream.

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New iPad with retina display coming out early 2012?

If you thought the iPad 2 looks good, then Apple again plans to blow your socks off with the hi-res retina display of its next gen iPad 3, if what the Wall Street Journal reports comes to pass.

It wouldn't be surprising if that happens, given Apple's history of wowing its followers, then giving them something else to lust over soon after, an inexhaustible schedule of want that rivals any vampire-like hunger. 

Using sources "familiar with" component suppliers and its assembler in Asia, the Journal's Lorraine Lukreports from Taipei that "the company has ordered key components such as display panels and chips for a new iPad it is aiming to launch in early 2012."

This iPad would pack an even bigger visual wallop than its predecessor, the current iPad 2, with a 2048 by 1536 hi-res display (compared with the iPad 2's 1024 by 768). 

While none of the official spokespeople from the companies that produce the parts that make the new iPad were willing to comment on the record, Luk's sources told her Apple had already placed orders for about 1.5 million iPad 3s in the fourth quarter. Taipei is the place to be when it comes to iPad rumors, as it's the hub of manufacturers tied to Apple, which also has iPad manufacturing through the controversial Foxconnin China (though that too is an extension of Taiwan's Hon Hai Precision, as well as being China's largest contract manufacturer). Foxconn's plant suffered a blow this spring with an explosion in May that killed three workers.

As of early August, an estimated 29 million iPads have been soldsince the tablet went on sale in April 2010, which will give the tab a robust 61 percent of the market by the end of the year. Despite Android tabs popping out like Tribbles, Apple's signature device still commands this particular segment of the wireless world, and with a next gen in the works, will try to continue that reign.

More stories:

Check out Technolog on Facebook, and on Twitter, follow Athima Chansanchai, who is also trying to keep her head above water in the Google+ stream.

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New BlackBerry 7 smartphones coming out today?

 Research in Motion

Will we see the new BlackBerry Bold 9900 tonight at the #BB7FanNight event?

Keep checking BlackBerry's official tweets today, because it's teasing with promises of rolling out tonight devices with Research In Motion's newest smartphone OS, BlackBerry 7.

VentureBeat is one of many outlets that caught this tweet last night: "You got it! New #BlackBerry devices are coming w/ our new OS, BlackBerry 7! Check back tmrw 4 deets on #BB7FanNight. ^CH"

This "event" will try to rally BlackBerry's core base in a market that's become a two-horse race between Google and Apple.

BlackBerry's U.S. sales have lagged behind the upstart Android handsets and the perennially popular iPhones with reports that Apple sold 20.3 million iPhones from April to June, while RIM sold 13.2 million BlackBerrys from March to May. In a few years, it may even take a back seat to Microsoft's slow-launching Windows Phone, according to some reports. (Msnbc.com is a joint venture of Microsoft and NBC Universal.)

Some followers are also skeptical: "Interested in what RIM is planning to announce for #BB7FanNight. They really need a game-changer here..."

Game-changer is right. RIM is against the ropes, with yesterday's "Cost Optimization Program" announcement of 2,000 job cuts and executive shuffles, and a tablet that has yet to turn the tide for the struggling company.

Still, BlackBerry users are a loyal lot, and eager to see what's next. Like this user: "Anxiously waiting the @BlackBerry announcement 4 today. Hoping its the release date for the Bold 9900 #TeamBlackBerry." Or this one: "Can't wait to see what we have #BB7FanNight we been waiting for long the wait is over @BlackBerry."

Per VentureBeat, expectations point to an updated BlackBerry Torch and/or a new BlackBerry Bold Touch (9900/9930), with swiping and zooming capabilities on the touchscreen, as well as a better browser.

Research in Motion's last big hurrah was in May, when it revealed the new BlackBerry Bold (which we hope to see tonight), the BlackBerry 7 OS and a Facebook app for its PlayBook tablet.

More stories:

Check out Technolog on Facebook, and on Twitter, follow Athima Chansanchai, who is also trying to keep her head above water in the Google+ stream.

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