UPDATE 1-National Express H1 boosted by margin improvement

LONDON, July 29 (Reuters) – British transport group National Express (NEX.L) reported a 36 percent increase in first-half pretax profit on Thursday as it benefited from improved operating margins and new contracts in North America.

The company, which runs coach services and rail franchises in the east of England, made a pretax profit of 75.7 million pounds ($118.2 million) in the six months to June 30. Its operating margin rose by 3.8 percentage points to 9 percent.

“Despite challenging economic conditions, greater operational focus is having a positive impact and we will continue to progressively drive improvement in performance and cut cost,” said Chief Executive Dean Finch.

National Express, which also operates yellow school buses in North America and a fleet of coaches and buses in Spain, said it expected trading to remain resilient in the next six months.

“We have secured growth opportunities, particularly in North America and Spain, in which we will selectively invest in the second half of the year,” said Finch.

The company, which raised 360 million pounds through a rights issue last November, said it expected to recommence dividend payments at the year-end, depending on its trading performance.

Shares in National Express closed on Wednesday at 242.9 pence, valuing the business at 1.25 billion pounds.

(Reporting by Matt Scuffham; Editing by Victoria Bryan)

($1=.6402 Pound)

Vivendi could face $1.7 billion fine in Brazil: report

(Reuters) – Brazil’s securities regulator could fine French media company Vivendi (VIV.PA) as much as 3 billion reais ($1.7 billion) for allegedly committing fraud in its takeover of Brazilian phone company GVT, newspaper Folha de S. Paulo said on Sunday, without noting how it obtained the information.

The regulator, known as CVM, found that Vivendi had purchased less than the minimum 40 percent stake in GVT when it announced it won control of the Brazilian company last November, Folha reported. Vivendi may have the option of reaching a settlement with the CVM, the newspaper reported.

The fine could be the largest ever imposed by the Brazilian securities regulator, according to Folha, which did not give a timetable for an announcement.

According to Folha, CVM argued that Vivendi probably misled Telefonica and other investors by signaling that it had won control of GVT before it actually had. Vivendi paid 7.7 billion reais for GVT, the fixed-line and data services carrier that is Brazil’s fastest-growing telecommunications company.

“Any talk of a fine is a conjecture,” Simon Gillham, Vivendi’s executive vice president of global communications, told Reuters in a phone interview from Paris. “Vivendi prides itself on its standards of corporate governance.”

Vivendi abided by the Brazilian laws throughout the process that led to the purchase of GVT, Gillham said, adding that the company has not been notified of any decision by CVM. The French company met all legal and regulatory standards during the acquisition process, he said.

The company has until mid-September to turn over to the CVM all the documents related to the GVT transaction, he noted.

Calls made to the mobile phones of two CVM spokeswomen seeking comment on the Folha story were not immediately answered.

Federal prosecutors are awaiting a CVM decision whether to open a probe against Vivendi on the deal, Folha reported.

(Reporting by Guillermo Parra-Bernal, editing by Maureen Bavdek)

Vivendi could face $1.7 bln fine in Brazil-report

SAO PAULO, July 25 (Reuters) – Brazil’s securities regulator could fine French media company Vivendi (VIV.PA) as much as 3 billion reais ($1.7 billion) for allegedly committing fraud in its takeover of Brazilian phone company GVT, newspaper Folha de S. Paulo said on Sunday, without noting how it obtained the information.

The regulator, known as CVM, found that Vivendi had purchased less than the minimum 40 percent stake in GVT when it announced it won control of the Brazilian company last November, Folha reported. Vivendi may have the option of reaching a settlement with the CVM, the newspaper reported.

The fine could be the largest ever imposed by the Brazilian securities regulator, according to Folha, which did not give a timetable for an announcement.

According to Folha, CVM argued that Vivendi probably misled Telefonica and other investors by signaling that it had won control of GVT before it actually had. Vivendi paid 7.7 billion reais for GVT, the fixed-line and data services carrier that is Brazil’s fastest-growing telecommunications company.

“Any talk of a fine is a conjecture,” Simon Gillham, Vivendi’s executive vice president of global communications, told Reuters in a phone interview from Paris. “Vivendi prides itself on its standards of corporate governance.”

Vivendi abided by the Brazilian laws throughout the process that led to the purchase of GVT, Gillham said, adding that the company has not been notified of any decision by CVM. The French company met all legal and regulatory standards during the acquisition process, he said.

The company has until mid-September to turn over to the CVM all the documents related to the GVT transaction, he noted.

Calls made to the mobile phones of two CVM spokeswomen seeking comment on the Folha story were not immediately answered.

Federal prosecutors are awaiting a CVM decision whether to open a probe against Vivendi on the deal, Folha reported. (Reporting by Guillermo Parra-Bernal, editing by Maureen Bavdek)

Americans Don`t Expect a Return to Pre-recession Spending Levels, Lifestyles Until Mid-2013, According to AlixPartners Survey

Seven in 10 Feel the Same or Worse Economically Than a Year Ago
NEW YORK–(Business Wire)–
On average, Americans don`t expect their quality of life, including their
spending levels, to return to pre-recession levels until mid-2013, according to
the findings of a survey released today by AlixPartners LLP, the global
business-advisory firm. The poll also finds that seven in 10 Americans today
feel the same or worse about their personal economic situations than a year ago,
during the depths of the recession, and that 83% expect to spend the same or
less on non-essential purchases over the next 12 months, illustrating an ongoing
frugality that`s hampering prospects for a consumer-driven economic recovery.
The survey was conducted recently as a reprise of similar AlixPartners surveys
in 2009 — one in February and another in November.

According to the poll, Americans are also decidedly less optimistic about a
quick recovery in the economy at large than they were in 2009, another factor in
restrained spending. The majority of respondents, or 63%, now say that an
economic recovery won`t take place until 2012 or later, versus the 46% who felt
that way in November and 40% who picked that year or later in early 2009. The
proportion of Americans who now believe that a recovery will take place this
year or next: just 5% and 12%, respectively.

“When we polled Americans last November, they expected their personal spending
levels and lifestyles to be back to pre-recession levels by, on average,
November of 2012, but now they`re saying not till August of 2013,” said Fred
Crawford, CEO of AlixPartners. “Obviously, despite some modest movement forward
in the economy, individual Americans remain greatly concerned about their
personal economic situations. In the past, AlixPartners has talked about how
this could translate into a `new normal` environment for businesses of all types
that rely upon the American consumer: lower plateaus of consumer spending for
years to come, maybe for the foreseeable future. Today, it looks like this new
normal is already happening.”

Americans continue to say that their two top concerns are their own personal
debt levels and possible job loss. Some 20% of respondents in latest survey cite
the elimination of personal debt as their top concern, versus 13% who cite
potential job loss. The seven-percentage-point gap between the two top concerns
has widened since November, when 18% cited personal debt and 14% said job loss.

“The gap between the top two consumer concerns was just two percentage points in
February 2009, possibly illustrating some stabilization on the employment front
over the past 15 months,” said Crawford. “However, given the length of time that
most expect it will take before they see a personal economic recovery and the
urgency on the personal debt front, consumer spending likely will continue to
languish for some time.”

About the study

The AlixPartners survey was conducted May 24-26 among 1,000 U.S. adults. It was
a reprise of key questions asked in February 2009 and November 2009, in which
Americans said that, post-recession, they plan to save significantly more of
their total income and cut back on discretionary spending.

Americans were asked to provide feedback on current economic environment,
describe current spending patterns, and estimate how their saving/spending
habits will change post-recession.

The respondent group was representative of the U.S population across all key
demographics.

About AlixPartners

AlixPartners LLP is a global business-advisory firm offering comprehensive
services to improve corporate performance, execute corporate turnarounds, and
provide litigation consulting and forensic accounting services. The firm has
more than 900 professionals in 14 offices across North America, Europe and Asia.
The firm can be found on the Web at www.alixpartners.com.

AlixPartners LLP
Tim Yost, +1-248-204-8689
+1-248-227-1694 (m)
tyost@alixpartners.com

Copyright Business Wire 2010

Nikkei pares losses to close off seven-month low

(Reuters) – Japan’s Nikkei share average edged up on Tuesday, paring losses to climb back above support at a key retracement level after falling to a seven-month low.

The benchmark Nikkei started trade below 9,200, key support around the level of a 50 percent retracement from its March 2009 low to its April high on fears over China’s property market, before hitting a seven-month low of 9,091.70 and coming within sight of its next support — 9,076, a trough touched last November.

But as the yen’s gains were tempered and as Chinese stocks rose the benchmark pared its losses, closing the day up 0.8 percent or 71.26 points at 9,338.04. The broader Topix gained 1.2 percent to 847.24.

(Reporting by Shinichi Saoshiro)

Nikkei back above key retracement, off 7-month low

July 6 (Reuters) – Japan’s Nikkei share average edged up on Tuesday, paring losses to climb back above support at a key retracement level after falling to a seven-month low.

The benchmark Nikkei .N225 started trade below 9,200, key support around the level of a 50 percent retracement from its March 2009 low to its April high on fears over China’s property market, before hitting a seven-month low of 9,091.70 and coming within sight of its next support — 9,076, a trough touched last November.

But as the yen’s gains were tempered and as Chinese stocks rose the benchmark pared its losses, closing the day up 0.8 percent or 71.26 points at 9,338.04. The broader Topix gained 1.2 percent to 847.24. (Reporting by Shinichi Saoshiro)

China Strategic says not pursuing MOU with Chinatrust

June 25 (Reuters) – China Strategic Holdings (0235.HK), a buyer of AIG’s (AIG.N) Taiwan Nan Shan Life unit, said on Friday that it will not pursue an MOU to sell a stake in Nan Shan to Chinatrust Financial (2891.TW).

Stocks | Mergers & Acquisitions | Global Markets

China Strategic and Primus Financial Holdings agreed to pay $2.2 billion for AIG’s (AIG.N) Taiwan Nan Shan Life unit and the deal is pending for Taiwanese regulatory approval.

“I believe this is not an appropriate time to talk with Chinatrust before we have successfully bought Nan Shan”, said Raymond Or, chief executive of China Strategic.

“Especially as when we signed the MOU (with Chinatrust), the regulators said this complicated the whole issue,” he added.

Chinatrust agreed to buy the Nan Shan stake last November for $660 million, but the memorandum of understanding expired on Friday. (Reporting by Alison Leung; Editing by Chris Lewis)

U.N. to cut staff in Afghanistan over security fears

(Reuters) – Already facing chronic staff shortages, the United Nations has said it plans to withdraw some of its foreign workers from Afghanistan following sustained reports of insurgent threats against its workforce.

In a report on Afghanistan released over the weekend, U.N. Secretary-General Ban Ki-moon said the world body continued to be a potential target for militant attacks across the country and it would be cutting the size of its international staff.

The United Nations evacuated hundreds of its staff last November, days after Taliban gunmen wearing suicide vests stormed a U.N. guesthouse in Kabul killing five of the organization’s foreign staff.

While scores of those workers have now returned to Afghanistan, others quit their posts over security fears or left after their contracts ran out, leaving the organization critically understaffed.

Credible reports of threats by militants “continue to mention that the United Nations presence country-wide is a possible target of further attacks,” said Ban in a quarterly report to the 15-nation U.N. Security Council.

“The volatile security environment translates into a high security risk for United Nations personnel, assets and operations.”

The United Nations was planning to relocate “certain support operations,” possibly in the next three months, to Kuwait, where the U.N. mission for Iraq is based, Ban said, adding the move would not affect the mission.

The report did not say how many foreign staff would likely be withdrawn but a U.N. spokesman in Kabul, Dan McNorton, said it “would not be that many,” adding those that would leave “don’t have to be in Afghanistan to carry out critical work.”

In March the United Nations said there were between 900 and 1,000 foreign staff in the country, short of the 1,100 before last year’s attack. McNorton did not have an exact number of how many staff were now based in the country.

However, the U.N. mission had trouble recruiting staff even before last year’s attack and Ban said candidates’ reluctance to move to Afghanistan because of security fears was hampering aid delivery on the ground.

As of May 16, the international staff vacancy rate was over one-third, at 39 percent, and the vacancy rate for Afghan employees stood at 30 percent, the report said.

Violence in Afghanistan is at its worst levels since the Taliban were overthrown in late 2001, with an “alarming” rise in insurgent bomb attacks as well as suicide raids, Ban also said in the report.

(Editing by David Fox and Peter Graff)

U.N. to cut staff in Afghanistan over security fears

June 20 (Reuters) – Already facing chronic staff shortages, the United Nations has said it plans to withdraw some of its foreign workers from Afghanistan following sustained reports of insurgent threats against its workforce.

In a report on Afghanistan released over the weekend, U.N. Secretary-General Ban Ki-moon said the world body continued to be a potential target for militant attacks across the country and it would be cutting the size of its international staff.

The United Nations evacuated hundreds of its staff last November, days after Taliban gunmen wearing suicide vests stormed a U.N. guesthouse in Kabul killing five of the organisation’s foreign staff.

While scores of those workers have now returned to Afghanistan, others quit their posts over security fears or left after their contracts ran out, leaving the organisation critically understaffed. <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

For more on Afghanistan click [ID:nAFPAK]

or see link.reuters.com/syx62d

Afghan blog: blogs.reuters.com/afghanistan/ ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>

Credible reports of threats by militants “continue to mention that the United Nations presence country-wide is a possible target of further attacks,” said Ban in a quarterly report to the 15-nation U.N. Security Council.

“The volatile security environment translates into a high security risk for United Nations personnel, assets and operations.”

The United Nations was planning to relocate “certain support operations”, possibly in the next three months, to Kuwait, where the U.N. mission for Iraq is based, Ban said, adding the move would not affect the mission.

The report did not say how many foreign staff would likely be withdrawn but a U.N. spokesman in Kabul, Dan McNorton, said it “would not be that many”, adding those that would leave “don’t have to be in Afghanistan to carry out critical work”.

In March the United Nations said there were between 900 and 1,000 foreign staff in the country, short of the 1,100 before last year’s attack. McNorton did not have an exact number of how many staff were now based in the country.

However, the U.N. mission had trouble recruiting staff even before last year’s attack and Ban said candidates’ reluctance to move to Afghanistan because of security fears was hampering aid delivery on the ground.

As of May 16, the international staff vacancy rate was over one-third, at 39 percent, and the vacancy rate for Afghan employees stood at 30 percent, the report said.

Violence in Afghanistan is at its worst levels since the Taliban were overthrown in late 2001, with an “alarming” rise in insurgent bomb attacks as well as suicide raids, Ban also said in the report.[ID:nN19150109] (Editing by David Fox and Peter Graff)

Key Euribor rates edge higher amid euro stresses

June 11 (Reuters) – Key euro-priced bank-to-bank lending rates continued to edge higher on Friday despite the European Central Bank’s promise of extra liquidity to keep supplies flush until the end of the year.

The three-month Euribor rate EURIBOR3MD=, traditionally the main gauge of interbank euro lending and a mix of interest rate expectations and banks’ appetite for lending, inched up to 0.719 percent from 0.718 percent, the highest level since mid-December.

Six-month rates EURIBOR6MD= rose to 1.003 percent from 1.001 percent, having broken through the ECB’s benchmark interest rate level of 1.0 percent on Thursday for the first time since last November.

One-year rates EURIBOR1YD= also edged up marginally to a new nine-month high of 1.271 percent from 1.270 percent.

On the other hand shorter-term one-week rates EURIBORSWD= eased a tad to 0.367 percent from 0.368 percent.

The debt troubles hitting Greece and other financially strained euro zone countries, have reignited fears about region’s banks and forced the ECB to reintroduce extra lending operations and abandon a long-held resistance to buying government bonds.

Markets are also bracing themselves for July 1 when banks have to pay back 442 billion euros worth of one-year loans borrowed from the ECB last year, although the transition will be smoothed after the ECB announced three extra batches of unlimited three-month funds on Thursday. [ID:nLDE6590CW]

Euribor rates are fixed daily by the Banking Federation of the European Union (FBE) shortly after 0900 GMT.

* For a table of the latest Euribor fixings for terms of one week to one year, double click on EURIBOR=

* For a table of the previous day’s fixings of EONIA swap rates, which show market expectations for future overnight lending rates, double click on EONIAINDEX

* For graphs of historic Euribor and EONIA swap rates, right click on the links in angle brackets below, and select ‘Related Graph’ 1 week EURIBORSWD= EONIAINDEXSW= 2 week EURIBOR2WD= EONIAINDEX2W= 3 week EURIBOR3WD= EONIAINDEX3W= 1 month EURIBOR1MD= EONIAINDEX1M= 2 month EURIBOR2MD= EONIAINDEX2M= 3 month EURIBOR3MD= EONIAINDEX3M= 4 month EURIBOR4MD= EONIAINDEX4M= 5 month EURIBOR5MD= EONIAINDEX5M= 6 month EURIBOR6MD= EONIAINDEX6M= 7 month EURIBOR7MD= EONIAINDEX7M= 8 month EURIBORS8M= EONIAINDEX8M= 9 month EURIBOR9MD= EONIAINDEX9M= 10 month EURIBOR10MD= EONIAINDEX10M= 11 month EURIBOR11MD= EONIAINDEX11M= 1 year EURIBOR1YD= EONIAINDEX1Y= (Reporting by Frankfurt newsroom)

UPDATE 1-China steelmakers face tough Q3 -Baosteel chairman

SHANGHAI, June 8 (Reuters) – China’s steel industry will face its toughest time of the year during the third quarter, the head of the parent firm of Baoshan Iron & Steel Co Ltd (600019.SS), China’s biggest listed steelmaker, said on Tuesday.

Iron ore contract prices will peak in the third quarter, while steel consumption by the auto and housing sectors will be sluggish, Xu Lejiang, chairman of Baosteel Group, told reporters.

“The third quarter will be the most difficult time of the year because that’s when iron ore prices will peak if contracts are based on quarterly pricing as the three major iron ore suppliers have requested,” Xu said.

“Demand from downstream industries such as auto, housing and home appliances will become relatively weak,” he added.

Baosteel cut its hot-rolled product prices for July delivery by about 10 percent and cold-rolled prices by 13 percent, the first cuts since last November. [ID:nTOE652093]

Some small steel mills and traders may spurn iron ore purchase contracts and turn to the spot market for ore in the third quarter, when spot prices are likely to fall below contracted prices, Xu added.

However, Baosteel will not buy in the spot market, Xu said, adding that the company would stick to long-term iron ore supply contracts, although it harbours doubts about the quarterly pricing mechanism the miners have initiated this year to replace annual term price agreements.

China’s largely state-run steel industry has steadfastly insisted on adhering to annual pricing, as it seeks greater price stability and fears a possible rise in prices later this year, although in practice it appears to be acceeding to quarterly deals, in line with other Asian steelmakers.

“We haven’t accepted the new pricing system but there’s nothing we can do about it by ourselves. We’re still trying to negotiate,” Xu said.

“We will negotiate with each iron ore miner to figure out how to finalise payment for second-quarter iron ore deals.”

Xu said spot iron ore prices were certain to fall in the fourth quarter as a large number of Chinese steel mills would curtail production. (Editing by Clarence Fernandez) (Reporting by Rujun Shen, Ruby Lian and Jacqueline Wong)

ABB buys Chloride Group for $1.25 billion

(Reuters) – ABB is buying Chloride Group for an agreed 860 million pounds ($1.25 billion), the Swiss engineering group said on Tuesday, announcing its second acquisition within a month.

Deals

ABB, which competes with French group Schneider, said Chloride had agreed on an offer of 325 pence per share.

In April, Chloride, whose products protect against power shortages, had rejected an offer for 723 million pounds from Emerson Electronic.

ABB, which sells power equipment to utilities as well as to oil and gas companies, had $7.1 billion in cash at the end of the first quarter, and had been expected to go on a buying spree.

Chloride will be part of ABB’s discreet automation division. Last November, ABB revamped its automation divisions and triggered talk it was about to go for a buy.

Chloride employs about 2,500 people and reported revenue of 336 million pounds in its fiscal year ended March 31.

In early May, ABB announced the buy of U.S. software group Ventyx, and then a fortnight later said it was raising its stake in its Indian subsidiary.

(Editing by Dan Lalor)

($1 = 0.6892 pound)

BA not neglecting strike peace talks: CEO Walsh

(Reuters) – British Airways Chief Executive Willie Walsh said Monday he was “absolutely determined” in its dispute with cabin crew and dismissed union suggestions that he had neglected the crisis to travel abroad.

“What we are doing is absolutely right. We are looking to secure the long-term viability of BA,” Walsh told Reuters on the sidelines of the annual meeting of global airlines group IATA in Berlin.

“I am here on business … We have people available to meet and are ready to talk.”

British Airways cabin crew started their latest five-day strike Saturday in a long-running dispute which has so far cost the airline more than 120 million pounds ($173 million).

The strikes stem from BA’s decision last November to cut cabin crew pay and alter staffing levels on its flights.

Shares in BA, which have fallen 11 percent in the last three months, were 1.4 percent down at 197.9 pence by 1045 GMT, valuing the company at around 2.3 billion pounds.

Walsh and Unite, which represents BA’s cabin staff, blame each other for a breakdown in communication.

Derek Simpson, joint general secretary of Unite, said on his Twitter page that Walsh’s absence meant no meetings were possible, with Walsh out of the country until Tuesday.

“I have made it clear that I am available anytime day or night to meet with BA and Willie Walsh to attempt to resolve this dispute,” Simpson said in a statement.

Meanwhile, one of Unite’s joint leaders, Tony Woodley, was criticized in the British press Monday for flying off on holiday to Cyprus late last week as union members continue to strike.

The issue of travel allowances for cabin crew has become a serious sticking point in the conflict, which comes at a difficult time for BA.

“We have made it absolutely clear that if BA re-instates our members’ travel concessions we would suspend the strike action,” said Simpson.

A BA spokesman said conciliation service ACAS was trying to arrange discussions between the two parties but that no peace talks were planned.

Talks over the past six months have failed to yield a resolution, with the walkouts having caused BA to ground flights on 19 occasions so far.

The latest strike took place less than a week before the start of the soccer World Cup in South Africa and followed a five-day stoppage which ended Thursday. There was a four-day walkout last week and seven days of stoppages in March.

A BA spokesman said conciliation service ACAS was trying to arrange discussions between the two parties but that no peace talks were planned.

(Additional reporting by Kylie Maclellan; Editing by James Regan and Jon Loades-Carter)

($1=.6929 Pound)

U.S. Steel Serbia restarts blast furnace

June 2 (Reuters) – The Serbian unit of U.S. Steel (X.N), the Balkan country’s largest exporter, has restarted its second blast furnace that was was idled last November for repairs, a company official said on Wednesday.

Stocks | Global Markets

“The repairs are almost done and the furnace is already working,” said Nemanja Brkovic, a spokesman for U.S. Steel Serbia.

He said production has accelerated this year. “All other facilities and the other furnace are now working at full capacity,” Brkovic said.

Serbia’s steel exports in March amounted to about $224 million or 15.2 percent of total exports.

In March 2009, amid the global economic downturn, the unit at Smederevo, 60 km south of Belgrade, shut down both furnaces and the steel mill. It maintained operations in the hot and cold rolling mills and sheet metal production.

The company briefly resumed production after three months, helping Serbia’s industrial output levels, but the second furnace was idled again in November 2009 for an overhaul.

U.S. Steel purchased Smederevo’s bankrupt Sartid steel mill in 2003 in one of the first major privatisation deals after a reformist coalition ousted former president Slobodan Milosevic in 2000.

The company runs three production facilities in central, eastern and western Serbia, with a total workforce of about 6,000.

Serbia’s economy, hit by the global turmoil, contracted 2.8 percent last year. (Reporting by Aleksandar Vasovic; Editing by Zoran Radosavljevic and William Hardy)

UPDATE 1-Malaysia’s Maxis posts Q1 profit on new adds, data

KUALA LUMPUR, May 31 (Reuters) – Malaysia’s top mobile phone network operator Maxis (MXSC.KL) swung to a profit in the first-quarter as it added new subscribers and as customers spent more on mobile data such as its internet services.

Maxis, which controls about 40 percent of the country’s mobile phone market, said it is “optimistic” about its outlook as it expects further gains in subscriptions and data revenues such as its broadband mobile business.

Maxis posted a first-quarter net profit of 552 million ringgit ($167.5 million) compared with a proforma loss of 42 million ringgit a year ago. The company said it will pay out an interim dividend of 8 Malaysian cents a share for the first quarter.

First-quarter net profit accounted for 22.6 percent of the 2.44 billion ringgit consensus estimate for the full-year.

Maxis and smaller rivals Axiata (AXIA.KL) and Digi.com (DSOM.KL) dominate Malaysia’s mobile phone market. Mobile subscriptions in the country stood at about 25.8 million as of end-June, 2009.

Maxis was listed on the local stock exchange last November following a restructuring of Maxis Communications by major shareholders Binariang GSM and Saudi Telecom (7010.SE).

Maxis Communications is a regional player with telco assets in India and Indonesia while Maxis focuses on just the Malaysian market.

Analysts said the single-market model limits Maxis’ growth prospects when compared to Axiata, which has operations in fast-growing markets like India and Indonesia.

But Maxis is a good yield play as it promises to pay out 75 percent of its earnings, said the analysts.

Shares in Maxis have fallen 2.4 percent so far this year, compared to the 3 percent gain for Digi.com and 21 percent gain in Axiata. The wider market was largely flat during the same period.

Prior to the earnings release, 12 of 23 analysts tracked by Thomson Reuters I/B/E/S rated Maxis as a hold, with five calling it as an underperform or a sell.

Maxis currently trades at 16.1 times 2010 earnings, compared to the telecom industry’s 16.62 times, Thomson Reuters data showed.

Digi.com, the country’s smallest player with no regional presence, trades at 16.39 times. Axiata trades at 15.79 times.

(Reporting by Soo Ai Peng; Editing David Chance)

France’s Henry faces life as a substitute

(Reuters) – France’s captain and most prolific scorer Thierry Henry faces the once inconceivable prospect of being a substitute at the World Cup for the country he has graced for over a decade.

Sports

The only player in the squad who was part of the team’s 1998 World Cup triumph, the 32-year-old appears set to lose his place up front in coach Raymond Domenech’s first team to Nicolas Anelka and the captain’s arm-band to left back Patrice Evra.

Prior to naming his squad for the June 11-July 11 finals in South Africa, Domenech endorsed Henry as a trusted ‘great player’, yet has started him on the bench for France’s two World Cup warm-ups against Costa Rica and Tunisia.

Henry, despite boasting a record 51 goals in 120 appearances and standing on the verge of becoming the first France player to take part in four World Cups, appears to be paying the price after suffering a series of setbacks.

Pushed on the fringes at Barcelona where he rarely started a game this year, Henry has also been marked by the controversy sparked by his handball in a playoff win over Ireland last November.

Henry, until that day never considered a cheat, handled the ball in the build-up to the decisive goal that sent France through to the finals, sparking one of the biggest outcries in the competition’s history.

LEADING PLAYER

“I am lucky to play with Titi at club level and it’s true that the last few months have been complicated for him,” defender Eric Abidal, Henry’s team mate at Barca, told reporters at France’s training camp in Tunisia.

“He’s been thinking about the World Cup and getting ready for it, hoping it would give him a breath of fresh air. He’s a leading player in our group and we know we can count on him.”

Henry has not complained after being left out of the starting line-up twice, even congratulating Evra after he wore the armband in a 2-1 win over Costa Rica last week, but has also been careful to avoid the media.

“The coach has made choices that can be difficult to accept but Titi is still ready to help out,” Abidal said of Henry’s uncomfortable situation.

Beloved of French fans for lifting the team out of tight spots and fondly remembered at Arsenal where he scored 226 goals during his eight-year spell at the London club, Henry could still make an impact at the World Cup.

For now, he faces the task of recapturing his scoring instinct from back-stage, instead of being the front-man.

“I don’t see any first-choice players or substitutes,” Domenech said of his decision to leave Henry on the bench.

“We’re a group. Everybody must remain under pressure and available to help.”

(Editing by Ian Ransom)

US-India strategic dialogue to prepare ground for Obama visit

Washington, May 29 (IANS) The inaugural US-India strategic dialogue here next week would prepare the ground for President Barack Obama’s visit to India in autumn, say officials.

‘Let me just say that there has not been any change,’ Assistant Secretary of State for South and Central Asian Affairs Robert O. Blake told reporters Friday asserting ‘the Obama Administration attaches great importance to our relations with India.’

‘As President Obama himself has said, this will be one of our signature partnerships in the 21st century,’ he said pointing to the fact that Obama had invited Prime Minister Manmohan Singh for the first state visit of his administration last November ‘to reaffirm the importance that we attach to our relations with India.’

‘One of the purposes of the strategic dialogue is to think through what are the big, new opportunities and where are the big areas of cooperation,’ Blake said suggesting sceptics perceptions would be best addressed ‘just by delivering results and by showing, in a concrete way, all of the various things that we’re doing.’

External Affairs Minister S.M. Krishna and US Secretary of State Hillary Clinton will lead a team of ministers and officials at the June 2-3 dialogue covering a wide range of areas, including high technology trade, science & technology, civil nuclear cooperation, agriculture, human resource development, security and other strategic issues.

After the dialogue ‘there will be deliverables’ Blake said. But ‘the purpose of this dialogue is really to think strategically and, again, to get the key people who work on these issues together to think ahead to the President’s visit and to think strategically about what we can do.’

Among the global and regional issues the situation in Afghanistan Pakistan region would be the key focus area. The two sides will also talk about Iran as ‘the United States and India both share a concern about Iran’s nuclear ambitions, and both of us are opposed to any kind of nuclear arms for Iran.’

On the bilateral front, ‘we have 18 separate dialogues underway between the United States and India to really try to capture the full scope of the opportunities ahead of us,’ Blake said.

Tone for the discussions was set by Obama’s phone call Friday to Manmohan Singh when the ‘leaders agreed that the Dialogue is an important milestone in the development of the US-India strategic partnership and looked forward to its results.’

Obama and Singh ‘also expressed their hope that the Dialogue will initiate a regular exchange of ideas and discussion between their governments and both pledged their support toward that end,’ according to a White House readout of the call.

The dialogue gets underway June 2 with the 35th annual meeting of the US-India Business Council, while Foreign Secretary Nirupama Rao and US Under Secretary of Political Affairs Bill Burns ‘will oversee a very wide-ranging foreign policy dialogue that will cover Afghanistan, Pakistan, the Middle East, probably China, and many other topics.’

The main strategic dialogue on June 3 chaired by Clinton and Krishna will be ‘about not so much what we’ve accomplished, but to look ahead about what we can accomplish, and particularly look ahead to the President’s visit sometime this fall to India,’ Blake said.

On the Indian side, Krishna will be joined by Human Resource Development Minister Kapil Sibal, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia and the Minister of State for Science and Technology Prithviraj Chavan and other top officials.

On the US side, Clinton will be joined by National Security Advisor James Jones, Commerce Secretary Gary Locke, FBI Director Robert Mueller and the USAID Director Rajiv Shah.

(Arun Kumar can be contacted at arun.kumar@ians.in)

Formula One statistics for Turkish Grand Prix

REUTERS – Selected statistics for Sunday’s Turkish Formula One Grand Prix at the Istanbul Park circuit:

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WINS

Mark Webber’s victory in Monaco was his second in a row and fourth of his career. Red Bull have now won nine races in Formula One and three out of six this season.

The last driver to win three successive races was world champion Jenson Button with Brawn last year.

The last Australian to win three in a row was Alan Jones in 1980/1981 (last two of 1980 and first of 1981).

Ferrari have won 211 times while McLaren are the second most successful team with 166 victories. Williams have 113 wins.

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POLE POSITION

Red Bull have started every race this season on pole position (Sebastian Vettel 3, Mark Webber 3). The record of 15 in a season is held jointly by McLaren and Williams.

Webber is the only driver to have won from pole position this season, and has done so in the last two races (Spain and Monaco).

The last team to take seven poles in a row was Ferrari in 2000-2001. Ferrari have not been on pole since the 2008 Brazilian Grand Prix.

The last driver to take three successive poles was Ferrari’s Felipe Massa in 2007.

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CHAMPIONSHIP

Four drivers have led the championship in six races this season – Ferrari’s Fernando Alonso, Massa, Button and Webber.

Webber is the first Australian to top the standings since Jones in 1981.

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FRONT ROW

Red Bull have started the last 10 races with at least one car on the front row.

Despite his two wins, championship leader Jenson Button has not started on the front row since Turkey last June.

McLaren last started on the front row in Abu Dhabi last November.

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TURKEY

In five Turkish Grands Prix, the race has only once not been won by the driver starting on pole position. That was Button who won with Brawn last year after starting in second place.

Brazilian Massa has the best record at the track, with three wins in a row.

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QUALIFYING

Two drivers have yet to qualify ahead of their team mates this season: Renault’s Russian rookie Vitaly Petrov and Virgin’s Brazilian rookie Lucas di Grassi.

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POINTS

Webber and Massa are the only drivers to have scored points in every race.

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MILESTONE

Sunday’s race will be the 800th Formula One grand prix that Ferrari have taken part in, the first being the 1950 Monaco Grand Prix.

(Compiled by Alan Baldwin; Editing by John O’Brien;

To query or comment on this story email sportsfeedback@thomsonreuters.com)

White House party crashers now barge onto David Letterman”s stage

New York, May 26 (ANI): Gatecrashing seems to have become a habit with Tareq and Michaele Salahi – the couple are now making news for barging on stage during the “Late Show with David Letterman.”

Letterman was joking through his monologue when the smiling Salahis suddenly walked out, flanked him, posed for “photographers,” then left as quickly as they had appeared on the stage.

“See, it”s interesting to me… For all practical purposes, they”re trespassing. But the crowd goes wild!” the New York Daily News quoted Letterman as saying on the show.

The Salahis gained notoriety when uninvited they attended the White House State Dinner last November. (ANI)

Toni Braxton turned to ice creams, sad movies after marriage split

London, May 18 (ANI): Once a six-time Grammy winner, Toni Braxton’s career took a downward spiral while her weight shot up following her divorce with husband Keri Lewis.

The star resorted to watching sad movies and eating ice cream after her marriage broke down.

The singer parted ways with Lewis, her husband of eight years and father of her two children, last November (09).

Braxton admits her life took a down turn spiral after the break-up and she packed on the pounds as she comforted herself with sweet treats and Renee Zellweger”s movie Bridget Jones”s Diary.

“I turned to Bridget Jones and Rocky Road ice cream when my marriage ended. I”d watch the film, cry and sing All By Myself and eat a massive tub every day for two months. I gained 12 pounds. It was hard to wean myself off it,” The Daily Express quoted her as saying. (ANI)