Zynga plans to build a gamers' social network

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Asian markets drift lower ahead of EU summit

A woman speaks on a mobile phone in front of a securities firm's electronic stock board in Tokyo Monday, June 25, 2012. Asian stocks mostly drifted lower Monday as investors grew cautious ahead of a critical European Union summit later this week where Greek leaders will attempt to renegotiate some terms of the country's international bailout. Japan's Nikkei 225 index was 0.4 percent lower at 8,765.54. (AP Photo/Shizuo Kambayashi)

A woman speaks on a mobile phone in front of a securities firm's electronic stock board in Tokyo Monday, June 25, 2012. Asian stocks mostly drifted lower Monday as investors grew cautious ahead of a critical European Union summit later this week where Greek leaders will attempt to renegotiate some terms of the country's international bailout. Japan's Nikkei 225 index was 0.4 percent lower at 8,765.54. (AP Photo/Shizuo Kambayashi)

HONG KONG (AP) ? Asian stocks mostly drifted lower Monday as investors grew cautious ahead of a critical European Union summit later this week where Greek leaders will attempt to renegotiate some terms of the country's international bailout.

Japan's Nikkei 225 index was 0.4 percent lower at 8,765.54 and South Korea's Kospi slid 1.4 percent to 1,822.19. Australia's S&P/ASX 200 was down 0.9 percent at 4,012.00.

But Hong Kong's Hang Seng rose 0.3 percent to 19,060.11 as it fluctuated between gains and losses.

Mainland China's Shanghai Composite Index fell 0.6 percent to 2,248.23. Benchmarks in Singapore, Taiwan and Indonesia also fell.

Investors are plagued by twin worries over an economic slowdown in China, the world's second biggest economy, and a debt crisis in Europe that seemingly has no end.

"Market sentiment is weighed down by a weakening Chinese economy and also the European debt crisis," said Louis Wong, a director Phillip Securities.

Investor pessimism about the state of the world economy prevailed even as the leaders of France, Germany, Italy and Spain agreed over the weekend to push for a growth package worth up to ?130 billion ($163 billion) at the European Union summit scheduled for June 28-29 in Brussels.

The proposal was "predictably vague, lacking details on content and financing and thus was given scant regard," Stan Shamu of IG Markets in Melbourne said in a market commentary.

The summit, aimed at kick-starting the economy and safeguarding the currency bloc, will prove a key test of Greek leaders' pledges to loosen the terms of the country's bailout. Greece's new government said on the weekend it would seek to repeal some taxes, halt layoffs and extend a deadline for tough austerity measures by two years. But Germany, the biggest single contributor to the bailout, says Athens must stick to the current targets.

Previous summits and meetings have failed to deliver a "credible set of solutions to the Eurozone crisis," strategists at Credit Agricole CIB said, so "markets are likely to remain relatively range bound ahead of the summit."

On Wall Street on Friday, stock markets bounced back. The Dow Jones industrial average gained 0.5 percent to close at 12,640.78. The Standard & Poor's 500 index 0.7 percent to 1,335.02 and the Nasdaq composite index climbed 1.1 percent to 2,892.42.

Benchmark crude was up 45 cents to $80.22 in electronic trading on the New York Mercantile Exchange. The contract settled at $79.76 a barrel on Friday.

In currencies, the euro slipped to $1.2536 to from $1.2561 in late trading Friday. The dollar fell to 80.25 Japanese yen from 80.45 yen.

Associated Press

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Eurozone Crisis Worries India, but Exporters are Full of Hope

As the Eurozone wrestles with a debt crisis, confidence level remains desperately low. And it has had a negative impact on India's economy as well. As Finance Minister Pranab Mukherjee rightly pointed in recent press conference at Manila after taking over as Chairman of the Board of Governors of the Asian Development Bank (ADB), the crisis in the Eurozone had negatively impacted the Indian economy. "The unfolding of the Eurozone crisis has impacted the Indian economy through lower growth, falling business sentiments, declining capital inflows and exchange rate ??and stock market volatility with attendant implication for investor confidence, " he said.

And?the impact is being felt by the textile and apparel exports community, because, though both, the US and Europe are major importers of textile and apparel products from India. Europe accounts for nearly 50 per cent of India's total apparel exports and hence it is no surprise that its debt crisis has adversely hit apparel exports from India. Further, lethargic demand in domestic and export markets, besides heavy debt, weaved a scrambled web for India's textiles industry in 2011-12. While the US is showing a bit of a bounce back in terms of placing orders, orders from Europe are still showing no recovery.

However, the latest export figures are positive. Though India was looking to achieve an export target of $38 billion (about Rs 200,000 crores) this fiscal, 12 per cent higher than previous year, it has been able to close the fiscal at $13.5 billion (Rs 70,000 crore) compared to $11 billion (over Rs 55,000 crore) in 2010-11. Despite a slowdown in the western markets, exporters' strategy of exploring newer destinations like South Africa and Latin America has worked well in their favour.

Commenting on the achievement, A Sakthivel, Chairman of Apparel Export Promotion Council (AEPC) said, "Rupee depreciation has bailed out Indian apparel exporters who were unsure of growth following weak consumer sentiment. The final figures are not yet in, but India expects to close the fiscal at $13.5 billion against $11 billion in 2010-11. "

Moreover, Indian exporters have also entered new destinations such as Latin America, southern and western Africa, Japan, Russia, Israel and Australia during the year. Also, Government's support through Focus Market Scheme and Market Linked Focus Product schemes and various FTAs have given apparel exporters market access especially in Japan. Newer markets brought in 10 per cent business for the industry. According to AEPC data, Japanese demand seemed to help Indian garment exporters. Exports to Japan rose to 4.4 per cent last year after a 2.1 per cent drop the previous year. The industry is also strongly working on moving from cotton to synthetic fibre, as it will help diversify into new products like sportswear, swim suits. This is expected to help double exports in the next five years.

?

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Germans looking for mole in the ranks

By NESHA STARCEVIC

AP Sports Writer

Associated Press Sports

updated 9:38 a.m. ET June 23, 2012

GDANSK, Poland (AP) -Who is the mole in the German ranks?

Germany coach Joachim Loew is trying to plug a leak that has allowed news of his lineup plans to be all over the country's media hours before matches at the European Championship.

The most recent case was ahead of Friday's quarterfinal against Greece, when Loew made three major changes to his attack. Germany still won comfortably 4-2, but Loew was not happy with the leak.

The players say it was none of them. Loew suspects their agents.

? 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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Spain beats France, faces Ronaldo

PST: Xabi Alonso scored two goals in his 100th international appearance Saturday, leading Spain to a 2-0 win over France and a spot in the European Championship semifinals.

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Left Out? Sony franchises we may miss in PlayStation All-Stars Battle Royale

Sony?s answer to Nintendo?s Super Smash Bros. pits some of the most popular PlayStation heroes and villains against each other. Recognizable characters like God of War?s Kratos, Uncharted?s Nathan Drake, and Twisted Metal?s Sweet Tooth have been confirmed as playable fighters, but the final roster is yet to be determined by the game?s developers.

Sadly, it?s unlikely that All-Stars Battle Royale will feature every Sony first-party series ? the publisher just has too many franchises for this to be a reasonable expectation. Let?s take a look at some Sony properties that probably won?t make it into the game due to poor sales, overall weirdness, or horrible design.

Robbit (Jumping Flash!) ? As a character in one of the most underrated titles on the original PlayStation, Jumping Flash?s Robbit soared over the competition in terms of sheer fun factor and charm. The robotic rabbit has been missing in action for over 10 years. It?s time to bring this tin can back.

Captain Blasto (Blasto) ? This muscle-bound, galactic hero?s quest was met with mixed emotions because it suffered from unbalanced controls and frustrating difficulty. Even worse, Blasto?s voice actor (Phil Hartman) passed away shortly after the game?s release, basically taking any possible sequels with him to the grave.

Polygon Man ? Early Sony magazine ads for the PlayStation featured the purple, blocky creep known as ?Polygon Man.? He was to become a spokesman for the console, but instead he became a magician and disappeared?forever.

Gaius (Shadow of the Colossus) ? The walking skyscraper is just too freaking tall to be a playable character in All-Stars. He, or any other colossus, would fit better as a stage obstacle where players would need to avoid his attacks and/or climb him.

Jet Moto driver (Jet Moto) ? While not as popular as Gran Turismo, some of you may remember SingleTrac?s futuristic, hover-bike racing game, Jet Moto. Sadly, the franchise lies parked in an abandoned, locked garage somewhere, and no one can find the keys.

EyePet virtual creature (EyePet) ? What the hell is an EyePet? A monkey? A goblin? A biological weapon? According to YouTube, it?s a sexual slave trained to please you, its master. I can?t even image this furry critter?s move set if it somehow makes it into PlayStation All-Stars.

PocketStation ? Sony?s fancy memory card never made it outside Japan, which is a shame because I always wanted to play that Chocobo World minigame from Final Fantasy VIII.

Clever game designers could go nuts turning the PocketStation into a playable character or a weapon/item of some sort.

If PlayStation All-Stars knocks off Smash Bros.?s trophies gallery, the PocketStation deserves a spot.

Block-rearranging guy (Intelligent Qube) ? What seems like a simple puzzler is really one of the most mysterious games ever made. Who is that tiny man? Is this hell? Why blocks instead of balls?

The diminutive, khaki-pants-wearing protagonist could annoy the hell out of his adversaries in All-Stars, similar to the Servbot in Marvel vs. Capcom 2. Sony, are you reading this?

Giant enemy crab (Genji: Days of the Blade) ? Sony?s 2006 E3 conference was a disaster, but one good thing came out of it: the giant enemy crab from Genji.

Ancient Japan saw an infestation of these gargantuan crustaceans. Luckily, brave heroes used their real-time, weapon-changing abilities to find the monsters? weak spot and attack it for massive damage.

Mental wealth girl ? Sony has made some peculiar print ads but nothing quite as disturbing as the ?mental wealth? commercial for the PlayStation 3.

The girl?s grotesque appearance and chilling laugh make me want to drive a hatchet through my skull. She would make a fantastic second-to-last final boss, right before fighting Sony Computer Entertainment of America president Jack Tretton.

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