UAE'S ETIHAD AIRWAYS ANNOUNCES DEALS WORTH US$20.4 BLN
Farnborough (ANTARA News/Asia Pulse) - National carrier of United Arab Emirates, Etihad Airways, announced deals for 100 fuel-efficient passenger planes worth US$20.4 billion (over Rs 800 billion) and unveiled its purchases at the Farnborough International Airshow.
Abu Dhabi-based Etihad said it is considering the purchase of an additional 105 passenger planes shared between Airbus and Boeing, worth about US$22.6 billion.
"The new generation aircraft we have ordered from both Boeing and Airbus are among the most fuel efficient and will help maintain Etihad's fleet as one of the youngest and greenest in the sky," the airline's chief executive James Hogan said. Aircraft deliveries will begin in 2011 and be completed in 2020.
PETRONAS PUMPS US$19.6 BLN INTO MALAYSIAN GOVT'S COFFER
Kuala Lumpur (ANTARA News/Asia Pulse) - An exceptionally good financial year for Petronas has enabled Malaysia's national oil company to contribute RM62.8 billion (US$19.6 billion) to the federal government's coffer.
Company president Mohd Hassan Marican attributed the performance not only to higher oil prices and sales volume but also improvement in the group's operational efficiency and prudent management.
For its financial year ended March 31, 2008, net profit increased to RM61 billion, or by 31.5 per cent, and revenue jumped to RM223.1 billion, up 21.2 per cent amidst an increasingly challenging global industry environment, he said Tuesday.
AUSTRALIA'S WOOLWORTHS FY'08 SALES RISE TO US$46 BLN
Sydney (ANTARA News/Asia Pulse) - Australia's biggest retailer, Woolworths Ltd (ASX:WOW), is set to meet its annual earnings forecasts after yearly sales rose on the back of a strong performance by its supermarkets division.
Chief executive Michael Luscombe said fiscal 2008 earnings before interest and tax (EBIT) are expected to grow faster than sales while net profit is expected to grow between 21 to 25 per cent.
Total sales for the 53 weeks ended June 29 rose to A$47.035 billion (US$46.0 billion), or 10.7 per cent.
AIR CHINA TO BUY 45 AIRCRAFTS FROM BOEING
Beijing (ANTARA News/Asia Pulse) - Chinese airline giant Air China (SSX:601111, SEHK:0753) Tuesday signed an agreement with Boeing to purchase 15 Boeing 777s and 30 Boeing 737s.
The basic price of the aircraft totaled US$6.3 billion, which includes the cost of aircraft bodies, accessory parts and engines, but the real transaction price will be a lower figure as Boeing has provided a favorable price for Air China in the form of a credit memorandum.
Air China noted that based on its available ton kilometers in 2007, the aircraft purchase will lift its transport capacity by 35 per cent.
STAR CONSORTIUM IN US$2 BLN DEAL WITH LIBYA'S NATIONAL OIL CO
Dubai (ANTARA News/Asia Pulse) - In a landmark achievement, the United Arab Emirates-based Star Consortium (comprising the Al Ghurair Investments subsidiary TransAsia Gas International and ETA Ascon Star Group's Star Petro Energy) have successfully
concluded a deal with the National Oil Company (NOC) of Libya to set up a joint venture company that will take ownership of and upgrade its Ras Lanuf refinery. The refinery produces 10 million tonnes of refined petroleum products per year.
The project is estimated to cost US$2 billion over five years and is to start immediately.
RIO DELIVERS RECORD IRON ORE PRODUCTION IN Q2
Melbourne (ANTARA News/Asia Pulse) - Rio Tinto Ltd (ASX:RIO), the focus of a US$153 billion (A$156.43 billion) takeover by BHP Billiton Ltd, has delivered strong output for iron ore and aluminium in its second quarter.
Global iron ore production rose by 13 per during the three months to June 30 from the same period in 2007, despite a significant gas outage caused by a fire at Apache Energy's Varanus Island processing plant.
Aluminium output gained 374 per cent to 1.014 million tonnes, reflecting a full quarter from the Alcan business acquired for US$38.7 billion (A$39.57 billion) last year.
BHP Billiton says a merged company could provide more product, more quickly and estimates US$3.7 billion (A$3.78 billion) in synergies could be realised by a takeover of Rio Tinto.
INDIA'S RIL, ONGC OFFSHORE OPS MAY FACE SHUTDOWN
New Delhi (ANTARA News/Asia Pulse) - Reliance Industries (BSE:500325) and Oil and Natural Gas Corporation (BSE:500312) may face an imminent shutdown of offshore oil and gas operations after India's Shipping Ministry issued new norms for vessels operating in Indian waters.
Directorate General of Shipping had in May banned operations of all vessels that are more than 25 years old.
"Offshore oil and gas operations will collapse if these norms are implemented," ONGC chairman R S Sharma said today, and a Reliance Industries executive said the company faced a similar fate for its 40-plus vessels working on bringing the gas field in Krishna Godavari basin to production.
Sharma added global safety certification is the criteria for operations of vessels, not vintage.
INDONESIA'S TELKOM GETS US$1.25 BLN LOAN, CANCELS BOND ISSUE
Jakarta (ANTARA News/Asia Pulse) - Indonesia's largest telecommunication company PT Telkom (JSX:TLKM) has cancelled a plan to issue bonds after signing an agreement on a US$1.25 billion credit pledged by three local banks on Monday.
The state-owned company will use the loan fund from state-owned banks - Bank Negara Indonesia (BNI) (JSX:BBNI) and Bank Rakyat Indonesia (JSX:BBRI) - and Bank Central Asia to finance its investment this year.
Telkom is also expected to receive a credit of Rp3 trillion (US$325 million) on July 24 from a syndicate led by BNI.
With the support in loans from the banks the plant to issue bond is cancelled, Telkom chief financial officer Sudiro Asno said yesterday.
NIPPON OIL MAKES NORTH SEA DRILLING UNIT FULLY OWNED SUBSIDIARY
Tokyo (ANTARA News/Asia Pulse) - Nippon Oil Corp. (TSE:5001) said Tuesday a unit developing oil and natural gas fields in the North Sea has been made a wholly owned subsidiary as part of a plan to boost lucrative overseas production amid weakening domestic gasoline sales.
MOC Exploration (UK) Ltd. is involved in production at eight sites in UK territorial waters, with a total daily output of roughly 88,000 barrels.
Fiscal 2007 sales were 15.4 billion yen, with a net profit of 5 billion yen (US$47.18 million).
The transaction was valued at 22 billion yen and the acquisition doubles Nippon Oil's daily output of crude from fields for which it holds concessions to around 5,800 barrels.
SAMSUNG LIFE INSURANCE EXPLORES VIETNAM MARKET
Hanoi (ANTARA News/Asia Pulse) - Samsung Life Insurance Company inaugurated Tuesday its representative office in Hanoi, marking its presence as one of South Korea's leading insurers in Vietnam.
South Korean Ambassador to Vietnam Im Hong Jae said the opening of the representative office was an indication of Samsung Life Insurance Company's confidence in the future growth of the Vietnamese insurance market.
Samsung Life will join 35 other foreign life and non-life insurers to explore the insurance market in Vietnam where 5 per cent of the population currently have life insurance.
Source:
Business in Asia Today - July 16, 2008
published by Asia Pulse
Farnborough (ANTARA News/Asia Pulse) - National carrier of United Arab Emirates, Etihad Airways, announced deals for 100 fuel-efficient passenger planes worth US$20.4 billion (over Rs 800 billion) and unveiled its purchases at the Farnborough International Airshow.
Abu Dhabi-based Etihad said it is considering the purchase of an additional 105 passenger planes shared between Airbus and Boeing, worth about US$22.6 billion.
"The new generation aircraft we have ordered from both Boeing and Airbus are among the most fuel efficient and will help maintain Etihad's fleet as one of the youngest and greenest in the sky," the airline's chief executive James Hogan said. Aircraft deliveries will begin in 2011 and be completed in 2020.
PETRONAS PUMPS US$19.6 BLN INTO MALAYSIAN GOVT'S COFFER
Kuala Lumpur (ANTARA News/Asia Pulse) - An exceptionally good financial year for Petronas has enabled Malaysia's national oil company to contribute RM62.8 billion (US$19.6 billion) to the federal government's coffer.
Company president Mohd Hassan Marican attributed the performance not only to higher oil prices and sales volume but also improvement in the group's operational efficiency and prudent management.
For its financial year ended March 31, 2008, net profit increased to RM61 billion, or by 31.5 per cent, and revenue jumped to RM223.1 billion, up 21.2 per cent amidst an increasingly challenging global industry environment, he said Tuesday.
AUSTRALIA'S WOOLWORTHS FY'08 SALES RISE TO US$46 BLN
Sydney (ANTARA News/Asia Pulse) - Australia's biggest retailer, Woolworths Ltd (ASX:WOW), is set to meet its annual earnings forecasts after yearly sales rose on the back of a strong performance by its supermarkets division.
Chief executive Michael Luscombe said fiscal 2008 earnings before interest and tax (EBIT) are expected to grow faster than sales while net profit is expected to grow between 21 to 25 per cent.
Total sales for the 53 weeks ended June 29 rose to A$47.035 billion (US$46.0 billion), or 10.7 per cent.
AIR CHINA TO BUY 45 AIRCRAFTS FROM BOEING
Beijing (ANTARA News/Asia Pulse) - Chinese airline giant Air China (SSX:601111, SEHK:0753) Tuesday signed an agreement with Boeing to purchase 15 Boeing 777s and 30 Boeing 737s.
The basic price of the aircraft totaled US$6.3 billion, which includes the cost of aircraft bodies, accessory parts and engines, but the real transaction price will be a lower figure as Boeing has provided a favorable price for Air China in the form of a credit memorandum.
Air China noted that based on its available ton kilometers in 2007, the aircraft purchase will lift its transport capacity by 35 per cent.
STAR CONSORTIUM IN US$2 BLN DEAL WITH LIBYA'S NATIONAL OIL CO
Dubai (ANTARA News/Asia Pulse) - In a landmark achievement, the United Arab Emirates-based Star Consortium (comprising the Al Ghurair Investments subsidiary TransAsia Gas International and ETA Ascon Star Group's Star Petro Energy) have successfully
concluded a deal with the National Oil Company (NOC) of Libya to set up a joint venture company that will take ownership of and upgrade its Ras Lanuf refinery. The refinery produces 10 million tonnes of refined petroleum products per year.
The project is estimated to cost US$2 billion over five years and is to start immediately.
RIO DELIVERS RECORD IRON ORE PRODUCTION IN Q2
Melbourne (ANTARA News/Asia Pulse) - Rio Tinto Ltd (ASX:RIO), the focus of a US$153 billion (A$156.43 billion) takeover by BHP Billiton Ltd, has delivered strong output for iron ore and aluminium in its second quarter.
Global iron ore production rose by 13 per during the three months to June 30 from the same period in 2007, despite a significant gas outage caused by a fire at Apache Energy's Varanus Island processing plant.
Aluminium output gained 374 per cent to 1.014 million tonnes, reflecting a full quarter from the Alcan business acquired for US$38.7 billion (A$39.57 billion) last year.
BHP Billiton says a merged company could provide more product, more quickly and estimates US$3.7 billion (A$3.78 billion) in synergies could be realised by a takeover of Rio Tinto.
INDIA'S RIL, ONGC OFFSHORE OPS MAY FACE SHUTDOWN
New Delhi (ANTARA News/Asia Pulse) - Reliance Industries (BSE:500325) and Oil and Natural Gas Corporation (BSE:500312) may face an imminent shutdown of offshore oil and gas operations after India's Shipping Ministry issued new norms for vessels operating in Indian waters.
Directorate General of Shipping had in May banned operations of all vessels that are more than 25 years old.
"Offshore oil and gas operations will collapse if these norms are implemented," ONGC chairman R S Sharma said today, and a Reliance Industries executive said the company faced a similar fate for its 40-plus vessels working on bringing the gas field in Krishna Godavari basin to production.
Sharma added global safety certification is the criteria for operations of vessels, not vintage.
INDONESIA'S TELKOM GETS US$1.25 BLN LOAN, CANCELS BOND ISSUE
Jakarta (ANTARA News/Asia Pulse) - Indonesia's largest telecommunication company PT Telkom (JSX:TLKM) has cancelled a plan to issue bonds after signing an agreement on a US$1.25 billion credit pledged by three local banks on Monday.
The state-owned company will use the loan fund from state-owned banks - Bank Negara Indonesia (BNI) (JSX:BBNI) and Bank Rakyat Indonesia (JSX:BBRI) - and Bank Central Asia to finance its investment this year.
Telkom is also expected to receive a credit of Rp3 trillion (US$325 million) on July 24 from a syndicate led by BNI.
With the support in loans from the banks the plant to issue bond is cancelled, Telkom chief financial officer Sudiro Asno said yesterday.
NIPPON OIL MAKES NORTH SEA DRILLING UNIT FULLY OWNED SUBSIDIARY
Tokyo (ANTARA News/Asia Pulse) - Nippon Oil Corp. (TSE:5001) said Tuesday a unit developing oil and natural gas fields in the North Sea has been made a wholly owned subsidiary as part of a plan to boost lucrative overseas production amid weakening domestic gasoline sales.
MOC Exploration (UK) Ltd. is involved in production at eight sites in UK territorial waters, with a total daily output of roughly 88,000 barrels.
Fiscal 2007 sales were 15.4 billion yen, with a net profit of 5 billion yen (US$47.18 million).
The transaction was valued at 22 billion yen and the acquisition doubles Nippon Oil's daily output of crude from fields for which it holds concessions to around 5,800 barrels.
SAMSUNG LIFE INSURANCE EXPLORES VIETNAM MARKET
Hanoi (ANTARA News/Asia Pulse) - Samsung Life Insurance Company inaugurated Tuesday its representative office in Hanoi, marking its presence as one of South Korea's leading insurers in Vietnam.
South Korean Ambassador to Vietnam Im Hong Jae said the opening of the representative office was an indication of Samsung Life Insurance Company's confidence in the future growth of the Vietnamese insurance market.
Samsung Life will join 35 other foreign life and non-life insurers to explore the insurance market in Vietnam where 5 per cent of the population currently have life insurance.
Source:
Business in Asia Today - July 16, 2008
published by Asia Pulse
No comments:
Post a Comment