DNO International ASA: DNO International reports a working interest production of 23,478 bopd in June 2010

July 28, 2010 By Leave a Comment

DNO’s working interest production increased from 11,431 bopd in May to 23,477 bopd in
June. On a quarterly basis, the working interest production increased from 12,442 bopd
in the first quarter to 15,748 in the second quarter.

The strong increase in June was related to short term sales arrangements for crude oil
deliveries to the local market in the Kurdistan Region of Iraq (Kurdistan).

“The Company expects to maintain the June level of crude oil deliveries in Kurdistan
also for July, but the August production is likely to be lower due to Ramadan. As the
current production volumes in Kurdistan are based on short term delivery arrangements,
the local sales in Kurdistan may continue to show significant fluctuations going
forward”, says Helge Eide, Managing Director of DNO International ASA.

Complete production report is attached.

Oslo, 27 July 2010

DNO International ASA

Corporate Communications

This information is subject of the disclosure requirements acc. to §5-12 vphl (Norwegian
Securities Trading Act)

HUG#1434117

DNO International ASA – Production Report for June 2010

http://hugin.info/36/R/1434117/379789.pdf

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POSCO to keep Aug stainless steel prices at July levels

July 28, 2010 By Leave a Comment

July 27 (Reuters) – South Korea’s POSCO (005490.KS), the world’s No.3 steelmaker, said in a statement on Tuesday that it would maintain prices of major stainless steel products for August at July levels to encourage local market demand.

POSCO last month lowered prices of major stainless steel prices for July to narrow the price gap with imports, setting prices of its hot-rolled stainless steel products at 3.35 million won and cold-rolled products at 3.62 million won. [ID:nTOE65R01A]

“Despite cost burdens, POSCO decided to keep stainless steel prices unchanged from July,” the statement said.

“As the market’s consensus is that prices have hit bottom, we expect demand to recover soon, especially with low inventories at clients.”

The price of nickel MNI3, a key ingredient in stainless steel, on the London Metal Exchange, has strengthened about 5 percent since the beginning of this month to above $20,000 per tonne. (Reporting by Cho Mee-young; Editing by Jacqueline Wong)

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Qatar to fine Qtel over Virgin launch: regulator

July 26, 2010 By Leave a Comment

(Reuters) – Qatar Telecom QTEL.QA (Qtel) faces an unspecified fine and possible further legal action over violations during its launch of Virgin Mobile services into the Gulf state, telecoms regulator ictQATAR said.

“Qtel should be compelled to pay an appropriate fine for its unlawful actions during the period from 13 to 18 May 2010 and has referred this matter to the Office of the Attorney General for assessment of an appropriate penalty,” the regulator said in a ruling made public on Sunday.

Rivals Vodafone Qatar VFQS.QA and Qtel on Saturday both welcomed a ruling by regulators in a dispute over Virgin Mobile’s entry to the local market in May, but there were signs the battle may have further to run.

“Furthermore, it has been suggested that Qtel”s actions during this period may constitute violations of laws other than the Telecommunications Law,” said ictQATAR.

The ruling asked for changes in Virgin Mobile’s launch by Qtel, but said that Virgin would not be a third operator.

In May, Virgin Group VA.UL signed a partnership with Qtel to launch Virgin Mobile Qatar in a brand licensing agreement to offer a prepaid mobile phone service.

Vodafone Qatar had said it saw Virgin Mobile’s entry as a violation of the conditions to its license, which cost shareholders 7.7 billion riyals ($2.12 billion), and the telecoms law in Qatar. It had said Virgin represented a third service provider.

“Vodafone Qatar is currently reviewing ictQATAR’s determination and considering its options for further legal recourse in relation to this matter,” a Vodafone statement said on Sunday.

Vodafone won the bid for Qatar’s second mobile telephone license in 2007 to break the monopoly of Qtel in the small Gulf Arab state, which is the world’s largest liquefied natural gas exporter.

($1=3.638 riyals)

(Reporting by Firouz Sedarat; Editing by Jason Neely)

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Social Media Strategy Covered in Third Installment of the Saepio Distributed Marketing Leadership Series

July 24, 2010 By Leave a Comment

KANSAS CITY, Mo., July 23 /PRNewswire/ — Marketers are increasingly turning to social media as an effective channel to market to their target audiences. According to Econsultancy, more than 700,000 local businesses currently have active Facebook accounts, and at the same time, more than 70 percent of the 130 million plus bloggers are organically talking about brands on their blogs. Saepio, a leading provider of marketing technology for corporations with distributed marketing networks, has announced the availability of the third installment of its Distributed Marketing Leadership Series, “Social Media Strategies for Distributed Marketing Organizations,” to educate distributed marketers on how they can benefit from this emerging channel.

The arrival of social media has changed the way distributed marketers do business. The challenge of controlling brand messaging and maintaining brand integrity in the local market has become infinitely larger due to the increase of stakeholders controlling the brand’s story. A distributed marketing organization should be proactively involved in all of its social marketing touch points. While this involves proactively listening to the organization’s social community, it requires highly organized speaking, as well. Additionally, distributed marketers have the added need to ensure that corporate and local marketers are each aware of how they should be participating.

Saepio’s Social Media guide addresses these unique challenges through the following topics including:

* What is social marketing?
* What role does social marketing play for different types of distributed marketers?
* How to use technology efficiently to make social media work for you
* The five steps needed to create an effective social media program
* How to make social media work for you

“Many organizations feel that they should be participating in social media just because it’s a key buzz word,” said Stephen Tucker, vice president of Saepio. “If there is no effective strategy in place, the initiative is just a waste of time and resources. This booklet will help distributed marketers decide whether a social media approach will work for them, and then outline how to make it an effective key pillar of their marketing program aligned closely with their business goals.”

The free guide can be found at: http://info.saepio.com/distributed-marketing-leadership-series/resources/social-media-strategies/. To learn more, Jeff Nordstedt, Director of Planned Television Arts Interactive, will be presenting a webinar on August 3 from 12:00 – 1:00 pm CT. To attend this free event, please register here: https://www1.gotomeeting.com/register/393602528.

About Saepio

Saepio empowers marketers to plan and execute meaningful and engaging marketing campaigns across distributed networks and around the globe – ensuring local relevance, brand consistency, speed to market and significant cost savings. The world’s best known brands turn to Saepio’s powerful software platform and extensive portfolio of support services to automate the marketing process, eliminate redundancy and ensure that all marketers connected to the brand – whether global, distributed, franchise, VAR or chain store marketers – have the assets and tools they need to quickly customize and execute campaigns. To learn more about Saepio, visit www.saepio.com

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Sawbuck Expands to Phoenix

July 10, 2010 By Leave a Comment

WASHINGTON, July 9 /PRNewswire/ — Online real estate broker Sawbuck Realty (www.sawbuck.com) today expanded into the Phoenix metropolitan area and partnered with Arizona residential real estate company Russ Lyon Sotheby’s International Realty, bringing Sawbuck customers local expertise and unmatched customer service. Phoenix-area homebuyers now can use Sawbuck.com to search for homes for sale and research recent sales; and the company’s mobile site (m.sawbuck.com) from any web-enabled smartphone when on the go.

“Sawbuck delivers exactly what Phoenix real estate consumers need. Today’s consumer starts their real estate search online, but the nuts and bolts of the transaction still must be done offline,” said John Vatistas, co-owner of Russ Lyon Sotheby’s International Realty. “Sawbuck recognizes this reality by giving consumers unfettered access to housing data on their website, and then connecting them with our leading, full-service agents when they are ready to start touring homes.”

Sawbuck simplifies the home buying and selling process, without asking customers to compromise on either service or cost. Consumers start their home search on Sawbuck.com, where they can search by property type, neighborhood or address to find homes for sale, local market stats and recently sold properties. In Phoenix, a Sawbuck advisor then connects buyers with experienced, local real estate agents at Russ Lyon Sotheby’s, and streamlines their transactions.

“We’ve been told we are crazy to continue to expand in this volatile real estate market. However, like any industry, the successful companies have the infrastructure in place to deliver in the interim and when demand heats up. With Russ Lyon Sotheby’s we are confident we have the best partner for now and in the future,” said Sawbuck CEO Guy Wolcott.

Also today, Sawbuck launched a new version of its home page that highlights daily real estate changes for each metro area it covers, including:

* What Can You Buy for the Money: View a slide show of 15 similarly priced homes from around the city, with a different price point every day. Consumers easily can switch between cities to see what they can get for their money across the country.
* Top Five Lists: Check out a different list every day such as top five local markets with the lowest inventory, highest prices or fewest days on market.
* Most Popular Listings: Be in the know and find out which homes get the most daily views.

How Sawbuck Works

Sawbuck connects buyers and sellers with top local real estate agents, streamlines their transactions, and saves them thousands of dollars up front and hundreds more every year. Buyers who work with Sawbuck get a below-market mortgage from reputable lenders such as Bank of America.

Sawbuck is the first real estate broker to establish mortgage alliances not to profit, but to save buyers money. The company subsidizes every mortgage, driving down the interest rate, and offers a $1,000 guarantee if a customer finds a better mortgage deal.

Phoenix Buyers Save $14,870 with Sawbuck

Throughout June 2010, Sawbuck compared the 30-year fixed mortgage rate available to its customers with the national average rate as reported in Bankrate.com’s weekly survey of lenders, a reliable indicator of mortgage rates for the last 20 years. The average Sawbuck rate was 0.37 percent better. On a $400,000 mortgage, that’s a savings of $91 per month, or $32,843 over the life of the loan.

In June 2010, 9,063 Phoenix-area homes sold with an average sales price of $181,105. If those buyers used Sawbuck, they would have saved $41 a month, totaling $14,870 over the life of the loan.

Sawbuck sellers receive a 20 percent refund of the listing commission at closing; for a $500,000 house that would normally pay a seller’s agent commission of three percent, the savings would be $3,000.

Since launching in January 2008, Sawbuck has completed more than $50 million in real estate transactions in the eight markets it serves.

About Sawbuck

Sawbuck Realty (www.sawbuck.com) is an online real estate broker that combines an industry-leading website with an award-winning, consumer-friendly business model. The company connects buyers and sellers with top local real estate agents, streamlines their transactions, and saves them money at every turn. Buyers who work with Sawbuck’s agent partners get a below-market mortgage, saving thousands up front and hundreds every year. Sellers receive a 20 percent refund of the listing commission at closing. Sawbuck’s site, service and model provide radical transparency and consumer value that is unique in the world of real estate. Headquartered in Washington, D.C., Sawbuck currently serves the Boston, Chicago, Dallas-Fort Worth, Phoenix, Providence, R.I., San Francisco Bay Area, Southern California and Washington, D.C. areas. The company will expand into Philadelphia and Houston in the coming months. To stay up to date on Sawbuck, visit our blog, http://www.sawbuck.com/blog, or follow us on Twitter, @sawbuck.

SOURCE Sawbuck Realty

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Toyota to invest $100 mln for India parts output

July 7, 2010 By Leave a Comment

July 6 (Reuters) – Toyota Motor Corp (7203.T) said on Tuesday it would invest about 9 billion yen ($103 million) to begin producing engines and transmissions for the Etios compact car in India developed for the local market.

Local unit Toyota Kirloskar Auto Parts, held 90 percent by the Toyota group, plans to produce 100,000 engines a year starting in the fall of 2012 and 240,000 transmissions from early 2013, Toyota said in a statement. It said the move would create about 500 new jobs. (Reporting by Chang-Ran Kim)

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SCENARIOS-What is Telecom NZ’s future in $1 bln Internet plan?

June 23, 2010 By Leave a Comment

June 22 (Reuters) – Telecom Corp of New Zealand is debating whether to split itself in order to participate in the government’s $1 billion high speed Internet network.

The government is part-funding a nationwide fibre-optic phone and Internet network as it aims to boost the widespread uptake of broadband to drive economic development.

The proposal stipulates that network builders and operators cannot also be retailers of telecom services. This prevents Telecom, a former state-owned enterprise which dominates the local market, from bidding to build the network.

Telecom is mulling whether to separate its wholesale and retail operations from its network arm, while simultaneously talking to the government about easing its required investment in the copper network under previous regulations. [ID:nSGE64M02R]

Hit by the uncertainty, Telecom’s shares have lost 24 percent this year versus a 6 percent drop in the top 50 index .NZ50.

Following are scenarios on what might happen next.

TELECOM SPLITS OR DEMERGES NETWORK, RETAINS STAKE Telecom could retain a direct minority stake in the network business or else demerge the company, to ensure enough separation to meet government requirements. Telecom’s network could then form the basis of the government proposal.

Implications: Probably the best value option for Telecom shareholders as it enables them to maintain exposure to the network business, which currently provides around a third of the group’s earnings.

Telecom’s network arm has been valued at NZ$2 billion to NZ$2.4 billion ($1.4 billion to $1.7 billion), more than half the company’s total NZ$3.7 billion market capitalisation.

Telecom’s negotiations with the government are expected to run for some more months.

TELECOM SPLITS, SELLS ENTIRE NETWORK

Telecom might divest its network arm, either through a trade sale or a float, and become predominantly a retailer of phone and Internet services. This could be in line with the government’s stipulation, although it has ruled out buying the network itself.

Implications: It would likely provide a large capital return to Telecom shareholders but also have the harshest financial impact. Telecom would retain a mobile network, a hefty retail operation and a large customer base but it would have shed the highest margin portion of its business.

TELECOM DOES NOT SPLIT, EXCLUDED FROM NETWORK

If negotiations fail, Telecom would remain as one company and compete against the new network.

Implications: Short term implications would be fewer but longer term, Telecom could expect further erosion of earnings as the new network begins to compete with faster services.

Some analysts say the economics of the new network are uncertain, and Telecom could retain market dominance for some time. However that very fact is seen adding impetus to the negotiations to get Telecom’s network involved in the process. ($1 = NZ$1.4) (Editing by Anshuman Daga)

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Imtech N.V.: Imtech and PlantLab: high-tech CSR nurseries for energy-saving and sustainable ‘footloose’ production of flowers, plants, vegetables and fruit

June 18, 2010 By Leave a Comment

Sustainable, high-tech, space-saving ‘footloose’ CSR nursery of the future

Den Bosch, Gouda – PlantLab (developer of innovative plant growing concepts) and Imtech
(technical services provider in Europe) are starting up a strategic joint operation to
enable the sustainable cultivation of flowers, plants, vegetables and fruit in high-tech
enclosed nurseries. This will lead to the creation of innovative CSR nurseries that will
allow efficient and sustainable ‘footloose’ (i.e. at any given location) production of
plants. This technology is the next generation of modern horticulture, and is carried
out on extremely small surfaces, allowing the efficient and cheap production of flowers,
plants, vegetables and fruit for the local market in an environmentally friendly way
(minimal CO2 production, none of the negative environmental effects of transportation).

The concept is based on an entirely new method for producing flowers, plants, vegetables
and fruit (Tuinbouw 3.0). In contrast to current production methods in greenhouses,
external (day) light is no longer necessary. In fact, the less interaction there is with
the weather outside, the better. It is also possible to grow plants in stacked tiers.
The light is controlled via high-tech, environmentally friendly LED lighting. Crucial
roles are also played by CO2 dosing, air treatment, heating, as well as ‘green’ IT
infrastructure and environmentally friendly automatic control. PlantLab is acting the
part of initiator and developer, whereas Imtech is responsible for the complete
sustainable technical implementation.

Future perspective
Within a few years, a new type of balanced high-tech CSR nursery could be created
throughout the world, where products are cultivated in completely conditioned stacked
tiers without daylight. These CSR nurseries are close to the consumers and offer many
advantages: a higher production level with a precisely predictable harvest time, and a
manageable product that offers more than the traditional equivalent when it comes to
appearance, flavour, quality and nutritional value. This sustainable and environmentally
effective method of cultivation is employed on a very limited area in places where it is
currently impossible due to climate conditions, water shortages or lack of space.
Moreover, no pesticide are used and only up to 10% of the water required for current
cultivation methods is necessary.

Three basic types
In concept studies, PlantLab and Imtech have jointly designed three basic types:

*
Modular R&D unit: a high-tech facility in special containers for research into balanced
cultivation in several tiers;

*
Plant production unit: a concept with which flowers, plants, vegetables and fruit can be
cultivated very efficiently and effectively inside a building. In this way, a building
with 14 cultivation tiers covering an area of only 100 by 100 metres, is sufficient to
provide a city the size of Den Bosch (140,000 inhabitants) with its daily requirement of
fresh products;

*
Fresh Garden Mall: a concept for CSR nurseries in inner cities, ‘local for local’, fresh
for immediate consumption, and sustainable. China and Japan are already carrying out
tentative experiments in this field.

Imtech is currently carrying out the engineering and realisation of the required
technical infrastructure for the first two basic types. There is worldwide interest in
these concepts.

Centre for Growing Concepts Opening
Gerda Verburg, outgoing Minister of Agriculture, Nature and Food Quality, is today
opening the Centre for Growing Concepts in Den Bosch, where the University of Applied
Sciences HAS Den Bosch and PlantLab are carrying out technical cultivation research into
the further development of this high-tech and energy-saving solution for the sustainable
‘footloose’ production of flowers, plants, vegetables and fruit.

More information
Media: Analysts & investors:
Pieter Koenders Jeroen Leenaers
Manager Corporate Communications Manager Investor Relations
T: +31 655 74 65 85 T: +31 182 54 35 04
E: pieter.koenders@imtech.eu mailto:pieter.koenders@imtech.eu E: jeroen.leenaers@imtech.eu mailto:jeroen.leenaers@imtech.eu
www.imtech.eu http://www.imtech.eu/ www.imtech.eu http://www.imtech.eu/

Jeroen Leenaers
Manager Investor Relations
T: +31 182 54 35 04
E: jeroen.leenaers@imtech.eu mailto:jeroen.leenaers@imtech.eu
www.imtech.eu http://www.imtech.eu/

Imtech profile
Imtech N.V. is a European technical services provider in the fields of electrical
engineering, ICT and mechanical engineering. With approximately 23,000 employees, Imtech
achieves annual revenue of more then 4.3 billion euro. Imtech holds strong positions in
the buildings, industry and infrastructure/traffic markets in the Netherlands, Belgium,
Luxembourg, Germany, Eastern Europe, Nordic, the UK, Ireland and Spain and in the global
marine market. In total Imtech serves 20,000 customers. Imtech offers added value in the
form of integrated and multidisciplinary total solutions that lead to better business
processes and more efficiency for customers and the customers they, in their turn,
serve. Imtech also offers solutions that contribute towards a sustainable society, for
example in the areas of energy, the environment, water and mobility. Imtech shares are
listed on the Euronext Stock Exchange Amsterdam, where Imtech is included in the Midkap
Index. Imtech shares are also included in the Dow Jones STOXX 600 index.

PlantLab profile

PlantLab develops unique mathematical prediction models that allow the exact planning
and management of plant production processes, so that the time for harvesting, the
harvest yield and the product quality can be strictly managed, thus ensuring the best
possible link between production and market demand. After PlantLab proved and then
patented the feasibility of cultivation in completely conditioned spaces without
daylight in 2006, it quickly took the following steps that have led to a new vision of
plant production. PlantLab’s home base is the new Centre for Growing Concepts at the
University of Applied Sciences HAS in Den Bosch. This hypermodern research centre
developed by PlantLab includes 8 climate cells in which plant research can be carried
out under 56 different environmental factor combinations simultaneously.

HUG#1424559

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Local market opens higher

April 13, 2010 By Leave a Comment

The Australian share market has risen above the 5,000-point threshold, boosted by miners on higher metals prices.

About 11:00am AEST, the All Ordinaries index was up 37 points to 5,010, and the ASX 200 was 36 points higher at 4,984.

Rio Tinto had jumped almost 2 per cent and BHP Billiton had added 1.3 per cent.

Shares in Macarthur Coal were more than 8.5 per cent higher at $16.90 after speculation that a bidding war for the company was set to heat up.

The Australian dollar was also stronger, trading at 93.6 US cents.

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Local market edges higher in early trading

March 12, 2010 By Leave a Comment

The Australian share market has open higher, after gains on international markets overnight.

At 10:15am AEDT, the All Ordinaries Index was up 10.1 points to 4,840 and the ASX 200 was 9.94 points higher at 4,829.9.

Shares in the United States closed moderately higher, with stocks in bailed-out financial companies popular among investors, who are hoping the sector is on the verge of a solid rally.

In official economic news, the US posted its largest budget deficit on record in February, as the government increased spending to help boost the economy.

The deficit came in at $US221 billion last month, compared with a deficit of $US194 billion in February last year.

The Dow Jones Industrial Average in New York gained 2.95 points to close at 10,567.33.

The S&P 500 closed 5.16 points higher at 1,145.61 and the Nasdaq Composite Index gained 18.27 points to 2,358.95.

Shares in Britain advanced 0.68 per cent, taking the market to a 20-month high.

Copper prices rose after figures from China showed the country’s exports and imports grew faster than expected in February.

British Airways gained more than 3.5 per cent, after it joined American Airlines and the Spanish carrier, Iberia in offering to give up a number of lucrative trans-Atlantic routes, to try to gain EU anti-trust immunity for their alliance.

By the close, London’s FTSE 100 was up 38.27 points to 5,640.57.

The Australian dollar has remained relatively steady from yesterday’s close and at 10.15am AEDT, it was worth 91.55 US cents.

On the cross rates it was at 67.05 euro cents; 82.88 Japanese yen; 61.12 pence Sterling; and $NZ1.30.

Spot gold had eased to $US1,107.45 an ounce.

West Texas Crude was worth $US82.06 per barrel.

The price of a barrel of Tapis crude had edged up to $US83.30.

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HK, China shares at 5-week high; banks, miners lead

March 2, 2010 By Leave a Comment

* Hong Kong shares rise; Chinese banks, HSBC lead

Financials

* Jiangxi Copper hits five-week high after Chile quake

* China shares end at 5-wk high on loose monetary policy hope (Updates to close)

By Donny Kwok and Lu Jianxin

HONG KONG/SHANGHAI, March 1 (Reuters) – Shares in Hong Kong and China ended at their highest in five weeks on Monday led by Chinese financial stocks on hopes China’s loose monetary policy will stay in place, while mining shares surged as copper prices leapt after a massive quake hit top producer Chile.

In Hong Kong, the benchmark Hang Seng Index .HSI ended up 2.17 percent or 448.23 points at 21,056.93, its highest close since Jan. 20.

“Strong resistance was noted at above the 21,000 level as investors were looking to lock in gains rather than betting on a further rise,” said Daniel Chan, senior investment strategist from DBS Bank. “The market was focusing on HSBC earnings for hints about the health of the bank as well as its other rivals.”

HSBC (0005.HK) gained 0.93 percent to end at HK$86.65, its highest close in more than five weeks, before it announced its results. The bank said after the local market close that its underlying pre-tax profit was up US$4.7 billion for 2009, or 56 percent at US$13.3 billion. [ID:nWLB8680]

Its unit Hang Seng Bank (0011.HK) rose 1.2 percent to its highest close in about six weeks. The bank reported a 6.2 percent drop in 2009 profit to HK$13.22 billion (US$1.7 billion), against consensus forecast of HK$13.29 billion. [ID:nHKF002169]

Investors snapped up Chinese bank shares on expectations that China’s National People’s Congress, to be held later this week, might reaffirm an appropriately loose monetary policy despite recent official liquidity tightening steps, brokers said.

Top lender ICBC (1398.HK) rose 5.1 percent to end at a one-month closing high. China Construction Bank (0939.HK) (601939.SS), the country’s second-largest bank by assets and the most actively traded stock, rose 4.1 percent as investors bought the stocks following Chairman Guo Shuqing’s comment the bank has no plans to raise fresh capital. [ID:nBJA002227]

Turnover increased to HK$67.97 billion ($8.7 billion) from Friday’s HK$54.19 billion.

The China Enterprises Index .HSCE of top locally listed mainland Chinese stocks closed up 3.2 percent at 11,913.45, its highest close in more than five weeks.

Chinese copper mining stocks rallied as copper prices hit five-week highs on supply worries after a massive earthquake hit top producer Chile. [ID:nTOE620035] Jiangxi Copper (0358.HK) rose more than 7 percent to HK$16.90 in Hong Kong, its highest in five weeks, before ending at HK$16.72, up 5.8 percent. Smaller rival Xingye Copper (0505.HK) was up 8.2 percent.

Brokers said investors were covering their short positions, while generally firmer commodities prices also gave support to mining shares. Zijing Mining (2899.HK) was up 2.7 percent and Chalco (2600.HK) rose 3.6 percent.

Copper futures jumped to their highest in more than five weeks on Monday after a massive earthquake in top producer Chile sparked supply worries and lingering threats could push the metal to a new 2010 peak. [ID:nSGE62000O]

SHANGHAI RISES AHEAD OF PARLIAMENTARY MEETING

China’s key stock index rose 1.18 percent on Monday to its highest close in five weeks, led by copper miners, as a sharper-than-expected slowdown in China’s manufacturing sector boosted expectations this month’s Chinese parliamentary session would reaffirm a relatively loose monetary policy.

The Shanghai Composite Index .SSEC ended at 3,087.842 points, its highest close since Jan. 25 and continuing a 2.1 percent rally in February, driven in part by bargain-hunting after the previous month’s 8.8 percent slide.

Copper mining stocks jumped as copper prices rose on supply worries after an 8.8-magnitude earthquake in top producer Chile, with Jingcheng Copper (002171.SZ), one of Monday’s top gainers, surging its 10 percent daily limit to 15.50 yuan.

Many other copper stocks also jumped their 10 percent daily limit, with Yunnan Copper (000878.SZ) surging to 28.05 yuan, Jiangxi Copper (600362.SS) to 38.54 yuan and Tongling Nonferrous Metals Group (000630.SZ) to 20.47 yuan.

Gaining Shanghai stocks overwhelmed losers by 738 to 150 as trading focused on small-cap shares. Turnover rose to a decent 131 billion yuan ($19 billion) from Friday’s 121 billion yuan.

The index stood above the 125-day moving average, now at 3,077 points, for the first time since late January, indicating market sentiment had improved, analysts said.

Despite Monday’s rise, the Chinese market has generally been weak so far this year amid worries about heavy supplies of new shares and an official clampdown on excessive bank lending.

Analysts warned against excessive optimism about the near-term trend as the supply of liquidity in the market had decreased after official quantitative tightening over the past two months.

“Supervision of bank lending has been greatly enhanced, effectively cutting off funds that flowed improperly into the market via grey-area channels,” said Zheng Wengang, head of investment at Shanghai Securities.

“With less market liquidity, you cannot expect a bull run, nor a strong rally in index heavyweights,” he said. “So the index should still move in a relatively narrow range.”

The official Purchasing Managers’ Index, the first set of Chinese economic data announced for February, fell to 52.0 from 55.8 in January, well below the median forecast of 55.45 in a poll by Reuters of 10 economists. [ID:nTOE62001T]

“The PMI data indicates that the manufacturing sector still has some way to go before it recovers fully from the global financial crisis,” said a trader at a major Chinese brokerage in Shanghai.

“It gives a boost to the market’s belief that the government will reiterate its appropriately loose monetary policy for 2010 at the parliamentary session.”

The annual session of the National People’s Congress, China’s parliament, will begin on Friday. Premier Wen Jiabao will deliver his work report on that day, which investors expect to reaffirm an official policy of relatively easy money in place since 2008. ($1 = 6.83 yuan) (Editing by Jacqueline Wong)

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Kashmir almonds ready to hit markets

September 19, 2009 By Leave a Comment

Werwan (J-K), Sept 19 (ANI): With the almond harvesting reaching its final stages, the growers are gearing up to hit the local market in Kashmir.

Residents of Werwan village in Pulwama district, very famous for almonds, are busy harvesting the almond crops.

Eighty-five per cent people are doing the almond business. These days, they are very busy in harvesting.

“This year, the almonds were bigger and the kernel was also large. We hope that this year because of good quality, we will get good rates for our almonds,” said Jan Muhammad Lone, a grower.

With a comparatively good and timely rainfall this season, the state authorities are hoping for a better return for the growers.

“This year and even last year, the kernel developments were excellent. Compared to last year, this year we have received timely rainfall during the fruit development months of almonds that is May and June.

Therefore, the almond farmers are quite happy that their crop yields are good and they will receive good money of it,” said Manzoor Ahmed, a horticulture development officer.

Shalimar, Makdoon and Waris are some of the varieties of almonds that are grown in Kashmir. By Afzal Butt (ANI)

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Viagra laced fruit juices flowing in Malaysia!

September 14, 2009 By Leave a Comment

Kuala Lumpur, Sept 14 (ANI): After being detected in coffee mixtures and sweets, Viagra has now been found in fruit juices.

After raiding more than 30 retailers and distributors dealing in the fruit juice, enforcement officers from the Health Ministry in Malaysia seized several hundred thousand ringgit worth of the product.

This followed after the ministry sent samples of the product for tests which confirmed the presence of sildenafil, reports The New Straits Times Online.

Sildenafil citrate, sold as Viagra, Revatio and various other trade names, is a drug used to treat erectile dysfunction.

According to a Health Ministry source, this was the first time they had encountered a case where sildenafil had been mixed with fruit juices.

The mixture is potent and deadly to people suffering from heart disease and high blood pressure.

“It was brought to our attention after several people complained to the ministry about the suspicious fruit juice,” the source said.

“The producer and distributor had claimed that the fruit juice had been produced from selected natural herbs which could improve sexual performance of men and women,” the source added.

Following test results, investigations were conducted to identify retailers and distributors involved in selling the fruit juice.

“More than 30 simultaneous raids were carried out nationwide. Officers were also concerned that the retailers and distributors would hide their stocks as the product had also been sold via direct selling,” the source said.

“At the raid at the company’s headquarters in Subang Jaya, three marketing officers and the store caretaker were questioned by authorities,” the source added.

Investigations revealed that the fruit juice had been in the local market for the past six months and had received good response from consumers.

The consumer needs to mix the powder with water before drinking. (ANI)

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Handicraft industry in Rajasthan explores domestic market to beat recession

August 20, 2009 By Leave a Comment

Jaipur, Aug 20 (ANI): Battered by the economic slowdown, handicraft exporters in Rajasthan now look to the domestic market to survive through the crisis.

The Indian domestic market remained largely unaffected by the global meltdown as compared with the rest of the world.

To tap the domestic market, the Federation of Rajasthan Handicraft Exporters (FRHE) for the first time organised a three-day handicraft fair in Birla Auditorium of Jaipur to provide a platform to sellers and buyers of handicraft.

Sunday is the last day of the expo in which about 100 exhibitors have showcased their world-class quality items, including blue pottery, ceramics, clay items, traditional furnishing items, textiles, jewellery, furniture artifacts.

All such items, which till now used to be destined overseas are being offered in the local market to whole sellers, retailers and even individual buyers.

Local market has been never been so attractive for these sellers.

“When we were earlier exporting, we did not pay any attention to the Jaipur or local market. This time because of the economic slowdown, we are attracted to domestic market and exploring it. We think if we tap the domestic market, our handicraft will survive and it will grow,” said Pradeep Kumar Chabra, an exporter.

Dilip Vaid, Chairman, FRHE, visualises the domestic market to grow big in the next five years and many exporters will shift focus to domestic market from the international market.

“I will not be surprised when many exporters who call themselves as exporters will be focusing on domestic markets rather than international market. The best thing about our industry even in this difficult time is that every piece sold here has got a background of livelihood generated,” said Vaid.

India has about 10.5 million artisans who solely rely on the handicraft industry for their livelihood. They carry with them the traditional know-how of making artifacts passed down from one generation to the other.

These artifacts which reflect Indian culture and tradition are quite often adapted to meet the requirements of changing lifestyle of people without losing their characteristics.

“We are in a period where people need things which are utilitarian. People need objects, which are lifestyle products. People also want products, which are part of our social culture. Still in India the wedding, the home, the community and festival and we need objects for each period of this time. And the handicraft sector can answer this need which is there,” said Sangeeta Shroff, Director, Indian Institute of Crafts and Designs.

This year, the handicraft Industry in Rajasthan exported items worth Rs200 billion rupees handicraft and textile Rs150 billion less compared with the last fiscal year.

Exporters now feel that the Indian market has a great potential and if explored properly they can sail through the economic meltdown and maintain their profits. By Lokendra Singh (ANI)

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Rains and hailstorm upset horticulture in Aurangabad

May 25, 2009 By Leave a Comment

Aurangabad, May 25 (ANI): The recent untimely heavy rains and hailstorm in Aurangabad district of Maharashtra, have left behind a badly affected yield of mangoes, papayas, and pomegranate.

The most affected are the farmers who took to horticulture.

Hundreds of orchards of papaya and mango fruits have been adversely affected due to three-days of heavy rains in the region.

“Because of unexpected rains and thunderstorm, the trees and produce of pomegranate, papaya and mangoes have been extensively damaged to the extent of 80 percent for papayas and between 25 to 40 percent for the other fruits. The roots have been damaged and we are assessing overall losses and other damages caused to the farmers,” noted Dattatreya Giri, Horticulture officer, Wankhede Sub-Division, Aurangabad.

Aurangabad is a major source of mangoes for export purposes. However, the torrential rains this season have caused a set back to the scope of exporting fruits.

“Every year from this farm we used to do an export of 60 to 70 percent of our produce but due to this loss we won’t be able to even export five percent of the yield. Rest of our production has been damaged. We don’t even expect these mangoes to be consumed in the local market,” said Vinayak Prathikar, a farmer.

Nearly all farmers in the country depend upon weather Gods for a good yield. But the untimely rains causes losses of huge amounts. (ANI)

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Poland’s BPH plans $225 mln bond issue

April 12, 2009 By Leave a Comment

WARSAW, April 10 (Reuters) – Poland’s mid-sized lender BPH BPHW.WA, unit of General Electric (GE.N), plans to issue up to 750 million zlotys ($225 million) in bonds, the bank said on Friday.

The lender, which is 66 percent owned by the U.S. conglomerate, had 15.4 billion zlotys in assets at end-200.

“The programme’s goal is to acquire financing from the local market and assuring an adequate level of capital to carry out the bank’s operations,” the bank said in a statement.

The bond issue programme will consist of regular and subordinate bonds with a maturity ranging from 30 days to 30 years. ($1=3.329 Zloty) (Reporting by Patryk Wasilewski; editing by Mike Nesbit)

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Rupee at 1-month high; stocks to be watched

April 6, 2009 By Leave a Comment

The rupee strengthened past 50 per dollar in early trade on Monday, its strongest in more than a month, on expectations local shares may rise following the lead of regional markets.

* At 9:10 a.m. the partially convertible rupee was at 49.96/97 per dollar, stronger than its Thursday’s close of 50.33/35. The currency market was closed on Friday for a local holiday.

* At 0340 GMT, the Hang Seng was up 3 percent, the Kospi was higher by 2.3 percent and Nikkei rose 1.9 percent.

* The Nifty futures in Singapore were trading 2.1 percent stronger, indicating a firm start in the local market.

* The BSE Sensex jumped 4.5 percent on Thursday to its best close in five months, as markets elsewhere also rose strongly as investors across Asia and Europe rode optimism that the worst had passed for the world economy.

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Gold price surges by 500 per ten grams; ended day at Rs 1203

October 26, 2008 By 1 Comment

After four day’s continuous fall, precious metal Gold finally settled the day at Rs 12,030 on bullion market, higher by Rs 500 per ten grams, on fresh festival demand. In addition, Silver also recovered on renewed industrial demand.

According to market experts, Gold finished higher in global market as safe-haven buying emerged on fears that global stocks markets were heading into a free fall.

While, Mohan Singh, a New Delhi-based jeweler thinks that in today’s session some of the investors might have shifted their funds into bullion market from weak stock markets, which led to current price surge.

In the local market, standard gold (99.5 purity) increased 500/ per 10g to Rs 12,030 from the yesterday’s closing Rs 11,530 while Pure gold (99.9 purity) rose to Rs 12,100 from Rs 11,600 previously.

Silver ready (.999 fineness) jumped by Rs 190/Kg to finish the day at Rs 17,490 from Rs 17,300.

Today, many consumers are seen buying gold in the market due to Dhanteras, which is considered an “auspicious” day for buying precious metals. The festival will be celebrated on 26th October 2008 (Sunday).

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