Imax quarterly loss narrows

(Reuters) - Following the restatement of its 2002 to 2005 results, Imax
said it has revised its accounting policy on revenue
recognition of theater systems installations.





Read more at Reuters.com Government Filings News

China Yuan Extends Loss as Central Bank Raises Interest Rates a Third Time

(Bloomberg) -- The yuan had the biggest drop in six
weeks after the central bank raised interest rates to cool an
economy growing at the fastest pace in more than 12 years.

The People's Bank of China boosted lending and deposit rates
by 27 basis points each just minutes before yuan trading ended.
Gains in the currency and higher borrowing costs may help reduce
excess funds in the banking system that are spurring lending and
investment.


Read more at Bloomberg Currencies News

Risma Holdings in landmark Moroccan hotel buy

(Reuters) - Risma Holdings, the Moroccan affiliate of Accor, has bought the Hilton Rabat in Morocco in a landmark $89 million deal, property services company Jones Lang LaSalle said on Friday.

The acquisition of the five-star, 269-room hotel marks the largest single-asset hotel transaction in Morocco, Jones Lang LaSalle said in a statement.


Read more at Reuters Africa

AIDS Pandemic Gives AllLife, Insurers Profits in South Africa's HIV Battle

(Bloomberg) -- In South Africa, where one in nine
people is HIV positive, life-insurance companies are making money
in an AIDS pandemic.

AllLife Ltd. was the first to sell policies to South
Africans who agree to regular AIDS checkups. Almost two years
later, the Johannesburg-based company has yet to get a claim.
Neither has rival Altrisk Ltd. since it started offering similar
products 15 months ago. Sanlam Ltd., the biggest insurer based in
South Africa, plans to enter the market of 2 million HIV-positive
people who have jobs and access to life-saving drugs.


Read more at Bloomberg Exclusive News

U.K. Economic Growth Unexpectedly Accelerates as Manufacturing Rebounds

(Bloomberg) -- U.K. economic growth unexpectedly
quickened in the second quarter as manufacturing rebounded, a sign
higher interest rates have yet to cool the pace of expansion.

Gross domestic product increased 0.8 percent, compared with
0.7 percent in the first quarter, the Office for National
Statistics said today in London. The median forecast in a
Bloomberg News survey of 36 economists was 0.7 percent. The annual
growth rate was 3 percent, the same as the previous three months.


Read more at Bloomberg Currencies News

Crude Oil Trades Near 11-Month High on Growing Demand From U.S. and China

(Bloomberg) -- Crude oil traded near $76 a barrel in
New York, close to an 11-month high yesterday, on rising fuel
demand in the U.S. and China.

U.S. gasoline demand rose last week to its highest in two
years, according to Department of Energy data. China's economy grew
in the second quarter at the fastest pace in 12 years for the
period, heightening speculation Chinese demand for fuel will climb.


Read more at Bloomberg Energy News

Pound Rises to Near 26-Year High Against Dollar After GDP Report, on Rates

(Bloomberg) -- The pound rose to near a 26-year high
against the dollar after a report showed U.K. economic growth
unexpectedly quickened in the second quarter, stoking
expectations of higher interest rates.

The U.K. currency headed for a sixth weekly gain on
speculation the Bank of England will raise rates half a
percentage point by year-end while the Federal Reserve stays on
hold. The pound advanced this week as the Federal Reserve trimmed
its forecast for economic growth and Bear Stearns Cos. reported
losses on hedge funds that bet on bonds backed by subprime loans.


Read more at Bloomberg Currencies News