INDIAN TELCOM MAJOR BSNL TO INVEST US$1.2 BLN ON WIMAX PROJECT
New Delhi (ANTARA News/Asia Pulse) - India's largest telecom company by revenue Bharat Sanchar Nigam Ltd plans to invest around Rs 50 billion (US$1.2 billion) on its WiMax project.
BSNL Director (Finance) S D Saxena said the company aims to roll out wireless broadband connectivity through WiMax technology commercially this year, especially in urban areas.
It will begin its operations in three states -- Maharashtra (excluding Mumbai), Gujarat and Andhra Pradesh.
RIO TINTO TO SPEND US$500 MLN UPGRADING PILBARA POWER SOURCES
Sydney (ANTARA News/Asia Pulse) - Rio Tinto Ltd (ASX:RIO) plans to invest more than US$500 million on upgrading its power sources in the Pilbara region of Western Australia to support its expanding iron ore operations.
It will build generation and transmission infrastructure near Karratha worth US$503 million to supply electricity to its port and mine operations.
The new power station will be constructed adjacent to the 7 Mile Rail Operations site.
Rio Tinto will also build a 220 kilovolt power line from the new power station, to be commissioned in 2010, to Cape Lambert.
HYUNDAI MOTOR BEGINS PRODUCTION AT 2ND ENGINE PLANT IN INDIA
Seoul (ANTARA News/Asia Pulse) - Hyundai Motor Co. (KSE:005380) said Tuesday it has started commercial production at its second engine plant in India, as part of the South Korean automakers plan to drive up small-car sales in one of the world's fastest-growing auto markets.
Hyundai aims to make its Indian plants the global hub of its compact car production.
The company spent US$421 million building the new production facility, which will bring Hyundai's engine production capacity in India to 570,000 units from 320,000.
INDONESIAN BANKS' NET PROFIT DOWN 1.44%
Jakarta (ANTARA News/Asia Pulse) - The net profit of banks operating in Indonesia fell 1.44 per cent to Rp15.21 trillion (US$1.65 billion) in the first five months of this year compared to the same period last year.
The drop was contributed largely by foreign banks which recorded a 50.42 per cent decrease in net profit to Rp818 billion, the newspaper Investor Daily reported quoting data from Bank Indonesia.
Foreign joint venture banks and state banks also recorded a decline in net profit down 7.72 per cent to Rp717 billion and 1.87 per cent to Rp5.33 trillion respectively.
HOKKAIDO ELECTRIC SEES US$320 MLN NET LOSS FOR FY08
Tokyo (ANTARA News/Asia Pulse) - Hokkaido Electric Power Co. (TSE:9509) said Monday it expects to incur a group net loss of 34 billion yen (US$320.82 million) for the year through March 2009, citing higher fuel prices and plant upgrade costs.
The latest forecast marks a sharp turnaround from an earlier projection of a 4 billion yen net profit.
The net loss would be the company's first since fiscal 1951. Sales will likely rise 8 per cent on the year to 615 billion yen due to an increase in homes that rely solely on electricity instead of gas, stronger demand among steelmakers and rising electricity rates.
EMAAR TO PUMP IN US$150 MLN ON INDIAN REAL ESTATE JV
New Delhi (ANTARA News/Asia Pulse) - Real estate developer Emaar MGF has got a commitment of receiving a US$150 million fund infusion from Dubai-based Emaar by selling the firm a stake in some of its projects in India.
The investment comes at a time when the joint venture, in which Emaar has a 43 per cent stake and the Indian partner MGF holds 52 per cent, is trying to recover from the setback of postponing its IPO.
The company now plans to float the public issue sometime next year. It had withdrawn the proposed issue in February after it was under-subscribed due to a market slump.
JAPAN'S GS YUASA TO PRODUCE FORKLIFT BATTERIES IN THAI JV
Kyoto (ANTARA News/Asia Pulse) - GS Yuasa Corp. (TSE:6674) announced plans on Monday to produce batteries for forklifts at a Thai plant to be operated jointly with a local automaker.
The facility is scheduled to go online next spring with an initial capacity of roughly 200,000 units.
Output will be increased to 400,000 units by fiscal 2013, or enough to supply about 16,000 forklifts.
GS Yuasa Siam Industry Ltd. will build the 500 million yen (US$4.71 million) plant in Chachoengsao Province, located east of Bangkok.
SAMSUNG ELECTRONICS, SDI PLAN TO SET UP OLED VENTURE: SOURCES
Seoul (ANTARA News/Asia Pulse) - Samsung Electronics Co. (KSE:05930) plans to set up a joint venture with its sister unit Samsung SDI Co. (KSE:006400) to cooperate in the development of displays used in handsets and small televisions, informed sources said Tuesday.
The two companies recently agreed on the 50-50 venture, tentatively named Samsung Mobile Display, and plan to hold respective board meetings later in the month to finalize the agreement, according to a Samsung Electronics official who declined to be named.
The joint venture is expected to focus on developing active-matrix organic light-emitting diode (AM OLED) displays, which are used in portable devices such as mobile phones and small TVs.
AUSTRALIA'S ALLIED BRANDS CONFIDENT OF STRONG FY09 PROFIT GROWTH
Sydney (ANTARA News/Asia Pulse) - Franchisor Allied Brands (ASX:ABQ) said it was confident of significantly increasing its revenue and profits in fiscal 2009.
The firm behind Baskin-Robins and Cookie Man also confirmed its fiscal 2008 annual profit forecast and announced an on-market buy-back of up to 10 per cent of its shares.
Allied Brands managing director Peter Graham said the company has finished the 2007/08 year on a very strong note and goes into the 2008/09 financial year very confident of significantly increasing revenue and profits.
The firm said it anticipated 450 per cent growth in fiscal 2008 profit boosted by record organic growth in store numbers and record revenue growth.
CHINA'S COAL EXPORTS SURGE 83% IN JUNE
Beijing (ANTARA News/Asia Pulse) - China's coal export in June surged 83 per cent over the same period of last year to 6.99 million tons, at an average export price of US$115.89 per ton, according to Chinese Customs.
The June figure accounted for more than 27 per cent of the first half total, which amounted to 25.49 million tons or a 10.2 per cent increase year on year.
Accordingly, a net export, at 3.94 million tons, was again seen for the first half.
China's coal imports in the first half stood at 21.55 million tons, down 20 per cent year on year.
Source:
Business in Asia Today - July 15, 2008
published by Asia Pulse
New Delhi (ANTARA News/Asia Pulse) - India's largest telecom company by revenue Bharat Sanchar Nigam Ltd plans to invest around Rs 50 billion (US$1.2 billion) on its WiMax project.
BSNL Director (Finance) S D Saxena said the company aims to roll out wireless broadband connectivity through WiMax technology commercially this year, especially in urban areas.
It will begin its operations in three states -- Maharashtra (excluding Mumbai), Gujarat and Andhra Pradesh.
RIO TINTO TO SPEND US$500 MLN UPGRADING PILBARA POWER SOURCES
Sydney (ANTARA News/Asia Pulse) - Rio Tinto Ltd (ASX:RIO) plans to invest more than US$500 million on upgrading its power sources in the Pilbara region of Western Australia to support its expanding iron ore operations.
It will build generation and transmission infrastructure near Karratha worth US$503 million to supply electricity to its port and mine operations.
The new power station will be constructed adjacent to the 7 Mile Rail Operations site.
Rio Tinto will also build a 220 kilovolt power line from the new power station, to be commissioned in 2010, to Cape Lambert.
HYUNDAI MOTOR BEGINS PRODUCTION AT 2ND ENGINE PLANT IN INDIA
Seoul (ANTARA News/Asia Pulse) - Hyundai Motor Co. (KSE:005380) said Tuesday it has started commercial production at its second engine plant in India, as part of the South Korean automakers plan to drive up small-car sales in one of the world's fastest-growing auto markets.
Hyundai aims to make its Indian plants the global hub of its compact car production.
The company spent US$421 million building the new production facility, which will bring Hyundai's engine production capacity in India to 570,000 units from 320,000.
INDONESIAN BANKS' NET PROFIT DOWN 1.44%
Jakarta (ANTARA News/Asia Pulse) - The net profit of banks operating in Indonesia fell 1.44 per cent to Rp15.21 trillion (US$1.65 billion) in the first five months of this year compared to the same period last year.
The drop was contributed largely by foreign banks which recorded a 50.42 per cent decrease in net profit to Rp818 billion, the newspaper Investor Daily reported quoting data from Bank Indonesia.
Foreign joint venture banks and state banks also recorded a decline in net profit down 7.72 per cent to Rp717 billion and 1.87 per cent to Rp5.33 trillion respectively.
HOKKAIDO ELECTRIC SEES US$320 MLN NET LOSS FOR FY08
Tokyo (ANTARA News/Asia Pulse) - Hokkaido Electric Power Co. (TSE:9509) said Monday it expects to incur a group net loss of 34 billion yen (US$320.82 million) for the year through March 2009, citing higher fuel prices and plant upgrade costs.
The latest forecast marks a sharp turnaround from an earlier projection of a 4 billion yen net profit.
The net loss would be the company's first since fiscal 1951. Sales will likely rise 8 per cent on the year to 615 billion yen due to an increase in homes that rely solely on electricity instead of gas, stronger demand among steelmakers and rising electricity rates.
EMAAR TO PUMP IN US$150 MLN ON INDIAN REAL ESTATE JV
New Delhi (ANTARA News/Asia Pulse) - Real estate developer Emaar MGF has got a commitment of receiving a US$150 million fund infusion from Dubai-based Emaar by selling the firm a stake in some of its projects in India.
The investment comes at a time when the joint venture, in which Emaar has a 43 per cent stake and the Indian partner MGF holds 52 per cent, is trying to recover from the setback of postponing its IPO.
The company now plans to float the public issue sometime next year. It had withdrawn the proposed issue in February after it was under-subscribed due to a market slump.
JAPAN'S GS YUASA TO PRODUCE FORKLIFT BATTERIES IN THAI JV
Kyoto (ANTARA News/Asia Pulse) - GS Yuasa Corp. (TSE:6674) announced plans on Monday to produce batteries for forklifts at a Thai plant to be operated jointly with a local automaker.
The facility is scheduled to go online next spring with an initial capacity of roughly 200,000 units.
Output will be increased to 400,000 units by fiscal 2013, or enough to supply about 16,000 forklifts.
GS Yuasa Siam Industry Ltd. will build the 500 million yen (US$4.71 million) plant in Chachoengsao Province, located east of Bangkok.
SAMSUNG ELECTRONICS, SDI PLAN TO SET UP OLED VENTURE: SOURCES
Seoul (ANTARA News/Asia Pulse) - Samsung Electronics Co. (KSE:05930) plans to set up a joint venture with its sister unit Samsung SDI Co. (KSE:006400) to cooperate in the development of displays used in handsets and small televisions, informed sources said Tuesday.
The two companies recently agreed on the 50-50 venture, tentatively named Samsung Mobile Display, and plan to hold respective board meetings later in the month to finalize the agreement, according to a Samsung Electronics official who declined to be named.
The joint venture is expected to focus on developing active-matrix organic light-emitting diode (AM OLED) displays, which are used in portable devices such as mobile phones and small TVs.
AUSTRALIA'S ALLIED BRANDS CONFIDENT OF STRONG FY09 PROFIT GROWTH
Sydney (ANTARA News/Asia Pulse) - Franchisor Allied Brands (ASX:ABQ) said it was confident of significantly increasing its revenue and profits in fiscal 2009.
The firm behind Baskin-Robins and Cookie Man also confirmed its fiscal 2008 annual profit forecast and announced an on-market buy-back of up to 10 per cent of its shares.
Allied Brands managing director Peter Graham said the company has finished the 2007/08 year on a very strong note and goes into the 2008/09 financial year very confident of significantly increasing revenue and profits.
The firm said it anticipated 450 per cent growth in fiscal 2008 profit boosted by record organic growth in store numbers and record revenue growth.
CHINA'S COAL EXPORTS SURGE 83% IN JUNE
Beijing (ANTARA News/Asia Pulse) - China's coal export in June surged 83 per cent over the same period of last year to 6.99 million tons, at an average export price of US$115.89 per ton, according to Chinese Customs.
The June figure accounted for more than 27 per cent of the first half total, which amounted to 25.49 million tons or a 10.2 per cent increase year on year.
Accordingly, a net export, at 3.94 million tons, was again seen for the first half.
China's coal imports in the first half stood at 21.55 million tons, down 20 per cent year on year.
Source:
Business in Asia Today - July 15, 2008
published by Asia Pulse
No comments:
Post a Comment