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Siberian oil contract clinched |
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Wednesday, 27 August 2008 |
ONGC Videsh Ltd, a unit of India's biggest exploration company, has agreed to buy Imperial Energy Plc for 1.4 billion pounds (US$2.58 billion) to tap Siberian deposits and make up for dwindling output at home.
ONGC...
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Report of tobacco companies in merger |
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Wednesday, 27 August 2008 |
TWO Chinese tobacco companies are merging to form the world's fourth-largest cigarette producer by volume, a financial newspaper reported yesterday.
Hongyun Group and Honghe Group signed a letter of intent on...
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Australian publisher slashes 550 jobs |
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Wednesday, 27 August 2008 |
FAIRFAX Media Ltd, Australia's second-biggest newspaper publisher, will eliminate about 5 percent of its work force in a bid to shave A$50 million (US$43 million) in annual costs.
Fairfax will book a A$50-million...
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Stormy weather ahead for airlines |
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Wednesday, 27 August 2008 |
SHARES in airlines, once the darling of the market, have plunged dramatically after the Sichuan earthquake and in the run-up to the Olympic Games.
Mutual funds sold 12.7 billion yuan (US$1.85 billion) worth of...
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Business travelers boost Virgin earnings |
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Wednesday, 27 August 2008 |
VIRGIN Atlantic Airways Ltd, the privately-owned British airline controlled by billionaire Richard Branson, said yesterday that a record number of business travelers sent annual pretax profit before one-off items up...
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NZ carrier sees fall in profit on fuel costs |
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Wednesday, 27 August 2008 |
AIR New Zealand's net profit fell 1 percent for the fiscal year, it said yesterday, after twice downgrading its earnings level during the year as it struggled to control the effects of rocketing jet fuel prices.
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Wednesday, 27 August 2008 |
ZHENGZHOU Yutong Bus Co Ltd, the nation's biggest bus maker, reported its first-half profit more than tripled as a higher emission standard prompted firms to buy buses that meet the stricter requirement.
Income...
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Philippine import growth picks up |
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Wednesday, 27 August 2008 |
PHILIPPINE import growth accelerated for the first time in five months in June as oil prices surged, widening the nation's trade deficit.
Overseas purchases rose 12.7 percent from a year earlier to US$5.3 billion,...
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Production drops in Singapore factories |
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Wednesday, 27 August 2008 |
SINGAPORE'S industrial production dropped the most in at least two years last month as pharmaceutical and petrochemical companies reduced output, signaling a deepening slowdown in economic growth.
Manufacturing,...
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Indian state snubs call to return disputed land |
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Wednesday, 27 August 2008 |
THE government in India's eastern West Bengal state yesterday rejected a demand by farmers to return them disputed land acquired for making what is billed as the world's cheapest car.
Tata Motors, which is setting...
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Confidence declines in Germany |
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Wednesday, 27 August 2008 |
GERMAN business and consumer confidence fell more than economists forecast, heightening concern that Europe's largest economy may be slipping into a recession.
The Munich-based Ifo institute's business climate...
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Slumping economy hits building materials firm |
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Wednesday, 27 August 2008 |
CRH Plc, the world's second-biggest building materials maker, reported an 8.5-percent fall in first-half profit yesterday and said frozen financial markets and slumping economies will end 15 years of growth.
Net...
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