The week in review

In the news... Goldman sees bumper profit US bank Goldman Sachs reported a net profit of $3.44 billion (Dh12.64bn) for April to June, beating analysts' forecasts. Less volatility in stock markets, rises in global share prices and involvement in many firms' rights issues and takeovers had boosted profits, it said. The bank said it had set aside $6.65bn for pay and bonuses in the quarter – an average of $226,000 per employee. Good week China The economy grew at an annual rate of 7.9 per cent between April and June, up from 6.1 per cent in the first quarter, due to the government's vast stimulus package. China's quickening economic expansion comes as most nations continue to experience recession. Beijing now expects China to achieve eight per cent growth for 2009 as a whole, which compares with a predicted contraction of 1-1.5 per cent in the US. However, the Chinese governnent warned that some econ-omic challenges remain.. Bad week Donald Trump A US judge has dismissed a defamation lawsuit filed by Trump against an author who said the property tycoon was a millionaire not a billionaire. Trump sued Timothy O'Brien in 2006 after his book, Trump Nation: The Art of Being the Donald , placed his wealth at between $150 million and $250m. Keep up with the latest business news from the region with the Emirates Business 24|7 daily newsletter. To subscribe to the newsletter, please click here .