Drugmaker Actavis agrees debt refinancing deal

July 22 (Reuters) – Icelandic generic drugmaker Actavis has agreed a debt refinancing deal with its lenders to slash its multi-billion-euro debt load, the company said.

The group did not give details in a brief statement but said the agreement positioned it with the flexibility to continue to grow, especially in southern Europe, Japan, the Middle East and northern Africa, and increase market share in current markets.

Sources familiar with the matter had told Reuters earlier this month that key lender Deutsche Bank (DBKGn.DE) was close to a deal with Bjorgolfur Thor Bjorgolfsson, the Icelandic tycoon who owns Actavis, to refinance the company. [ID:nLDE6661A3]

Deutsche financed Bjorgolfsson’s 4.7 billion euro ($6 billion) leveraged buyout (LBO) of Actavis, one of the world’s biggest makers of copycat drugs, in 2007. ($1=.7836 Euro) (Reporting by Ben Hirschler; Editing by Hans Peters)

UPDATE 1-Saudi Savola’s Q2 net profit down 2.3 pct

RIYADH, July 18 (Reuters) – Saudi-based Savola Group (2050.SE) posted a 2.3 percent drop in second-quarter net profit as capital gains decreased and said it expects its third-quarter net profit to rise by less than 1 percent.

The private conglomerate — active in edible oil, sugar, retail and real estate — made 207.7 million saudi riyals in the three months to end-June down from 212.5 million riyals a year earlier, it said in a statement to the Saudi stock exchange on Sunday.

It was Savola’s lowest quarterly net profit since the first quarter of 2009.

Savola said third-quarter net profit is forecast to reach 280 million riyals up from 277.8 million riyals it reported for the same period in 2009.

With a near 30-percent stake, Savola is also the biggest shareholder in Almarai Co 2280.SE, the Middle East’s biggest dairy firm by market value. [ID:nLDE669012] (Reporting by Souhail Karam; Editing by Dinesh Nair)

UPDATE 1-AssetCo profit surges; raises dividend

June 25 (Reuters) – British support-services provider AssetCo Plc (ASTO.L) posted a surge in full-year pretax profit, aided by a continued growth of its long-term contracts, and said all of its forecast sales for fiscal 2011 were contractually committed.

Shares of the company were up 20 percent at 60 pence at 0740 GMT on the London Stock Exchange.

The provider of support services, vehicles and equipment to emergency services and homeland security organisations raised its dividend by 20 percent to 1.5 pence and said trading at the start of the new financial year was in line with its expectations.

“The board sees the Middle East in general, and Abu Dhabi and the UAE in particular, as strong areas for growth,” the company said in a statement.

For the year ended March 31, the company said its pretax profit from continuing operations rose to 12.1 million pounds ($18.06 million) from 1.3 million pounds last year. Revenue was up 32.5 percent to 45.2 million pounds. ($1=.6701 POUND) (Reporting by Tresa Sherin Morera in Bangalore; Editing by Aradhana Aravindan)

Euronav could benefit from BP spill – paper

June 15 (Reuters) – Belgian crude oil transporter Euronav (EUAV.BR) could end up benefiting from the BP (BP.L) oil spill if the United States needs to transport more oil, its finance chief said, according to Belgian daily De Tijd.

Energy | Industrials

“The image of the oil sector is bad, but for us it can be a good thing,” the paper quoted Hugo De Stoop as saying in a report published on Tuesday.

“The U.S. will probably have to import more oil from overseas areas like the Middle East. This will be done by ship. We can with our large and modern oil tankers play a major role.”

On Monday, BP said it aimed to nearly triple its oil-collecting capacity within a month to a maximum of 80,000 barrels a day in response to a U.S. demand that the company work faster to contain the gushing leak in the Gulf of Mexico. [ID:nN14207756] (Writing by Ben Deighton; Editing by Dan Lalor)

UPDATE 1-Ted Baker says well positioned as sales rise

LONDON, June 15 (Reuters) – British designer brand Ted Baker (TBK.L) posted a sharp rise in revenue for the bulk of its first half and said it was well placed for more growth despite tough macro economic headwinds.

Ted Baker, which has operations in the UK, U.S., continental Europe, the Middle East and Asia, said on Tuesday revenue increased 18.0 percent in the 19 weeks to June 12 with gross margins in line with management expectations. The firm said retail sales rose 20.4 percent, with the UK performing well and overseas markets showing an improving trend, while wholesale sales increased 8.2 percent.

Ted Baker said its product and territorial licences continued to perform in line with internal hopes.

“Whilst we remain mindful of the uncertain economic environment, we believe we are well positioned to deal with the challenges ahead,” added the company.

Shares in Ted Baker, which have increased 36 percent over the last year, closed at 505 pence on Monday, valuing the business at 210 million pounds ($308 million).

(Reporting by James Davey; Editing by Julie Crust)

Dollar index rises to 15-month high

June 1 (Reuters) – The dollar rose to a 15-month high versus a currency basket on Tuesday, fuelled by rising risk aversion stemming from geopolitical concerns, together with debt problems in the euro zone.

Currencies | Global Markets

The dollar .DXY rose around 1 percent on the day to 87.473, its highest level since March 2009.

“Geopolitical concerns in the Middle East and Korea are to the fore, supporting the dollar, as well as debt problems in the euro zone,” said Tom Levinson, fx strategist at ING.

Musharraf evacuated from UK-bound flight following bomb scare

Former Pakistan President Pervez Musharraf was among the passengers taken off a London-bound flight of Virgin Atlantic at New Jersey airport in the US following a bomb scare, a media report said here today.

Musharraf and other passengers were evacuated from the aircraft after a security alert about a suspicious traveller and reports of a bomb in the airliner, Geo News said.

The aircraft was later cleared and all the passengers were given the go-ahead to board it.

However, Musharraf was taken to a local hotel and accommodated there.

A passenger, reportedly from the Middle East, bought a one-way ticket on the flight and paid for it in cash.

The man was arrested and the channel quoted US security sources as saying that they feared he might pose a threat to the flight.

Virgin Atlantic’s management declined to give the reason behind the emergency.

Musharraf has been living outside Pakistan since April last year.

He resigned as President in mid-2008 to avoid being impeached by the Pakistan People’s Party-led government.

US proposal of opening a consulate in Quetta a security risk

Islamabad, May 21 (ANI): Pakistani law enforcement agencies have termed the US proposal of opening a consulate in Quetta a “security risk”.

In a report presented before the Pakistani Foreign Ministry, the agencies after gathering comprehensive information opposed the proposal and declared it a ‘security risk’, the sources said.

According to experts, Balochistan is rich in natural resources like coal, natural gas, gold, oil, silver, iron and several other minerals.

Owing to the Gwadar port, this part of the world has become a gateway for Central Asia and Afghanistan to reach out to the Middle East and Europe, the Daily Times reports.

Keeping in view the minerals and its geographical position, the officials said that many world powers, especially the US, were thinking of settling in Balochistan.

Geological experts said that the oil in the region flows from Iran into Iraq, from where it is drilled and supplied to the world.

Due to the law and order situation, foreign companies are reluctant to invest in exploration in Balochistan, which is the only reason why law enforcement agencies have opposed the US proposal.

Local diplomats said that the US was constructing an air base in Ormara Creek, while another base was being built at Bochik in the Chaghi area, from where the US security experts will be able to monitor developments in Iran and keep an eye on the Afghan Taliban and al Qaeda. (ANI)

Sarah Jessica Parker’s joy at SATC sequel’s Morocco stint

London, May 20 (ANI): Actress Sarah Jessica Parker says she’s glad that the shooting of ‘Sex And The City’ sequel tool place in Morocco – as none of the locals recognized the cast.

The four leading ladies shot for the film in the deserts of the African country – which doubled as Abu Dhabi in the movie – after producers failed to get filming permission from Dubai officials.

But Parker insists that they were lucky they came to Africa for their movie instead to the Middle East – because the production was completely undisturbed in Africa.

“We were in a country that had no interest in us. It was our job to stay out of their way and be respectful of their turf,” the Daily Star quoted Parker as telling the Sun.

“They were in the middle of their lives, jobs and work, so when we were in the market standing in front of their stalls it was our responsibility to integrate into their lives.

“They had little or no interest in us and it was a virtue because it allowed us to tell our story in an open environment and capture everything we wanted on screen,” she added. (ANI)

Fraud Asian couple jailed for conning friends off 464,000 pounds in UK

London, May 20(ANI): An Asian couple has been jailed in Cheshire, England, for conning a string of friends out of 464,000 pounds.

According to reports, Abdul Mohammed and his wife, Shahista, promised their victims that they would earn them up to 50 percent profit in just three months by investing in oil businesses in the Middle East.

The Chester Crown Court heard that the couple stole 464,000 pounds between May 2005 and March 2007 from five people.

The court jailed Abdul for four years after after he admitted five counts of theft, while Shahista was given an 18-month sentence after admitting one count of theft.

“They claimed to be millionaires, but were unemployed layabouts. This scam was all fur coat and no knickers,” The Sun quoted a friend of one victim, as saying.

The victims claimed that the couple kept the cash and used it to fund a lavish lifestyle.

They lived in a plush mansion in Cheshire, with three cars and enjoyed luxury holidays to Dubai and America.

They also sent their three kids to private school. (ANI)

UNGA President meets PM

New Delhi, May 5 (ANI): United Nations General Assembly (UNGA) President Ali Abdussalam Treki met Prime Minister Dr Manmohan Singh on Wednesday and reportedly discussed a wide range of issues, including peace and security, United Nations (UN) reforms and other international and regional issues.

“We discussed the way to make the United Nations very strong, reform of the UN, Security Council and UNGA. We also discussed certain problems that the United Nations is facing like climate change, Middle-East Problem and other issues,” said Treki.

National Security Advisor Shiv Shankar Menon and Foreign Secretary Nirupama Rao were also present at the meeting.

Treki arrived here on Monday on a three-day visit after holding parleys with China.

He is expected to leave for Pakistan today. (ANI)

Tony Blair offered £250k to appear on ‘Dancing With the Stars’

London, May 3 (ANI): Former British Prime Minister Tony Blair has been offered 250,000 pounds to appear on reality TV show ‘Dancing With the Stars’.

Executive producer of the American Strictly, Conrad Green, wants the British Labour politician to appear on the show.

“Tony, you”ve done everything you can do as PM, you”ve done your bit for the Middle East, now come and put some sequins on and have a real life,” The Mirror quoted Green as saying.

Green said that he would couple Blair with five-time US National Championship Dance winner Karina Smirnoff, a Ukrainian dancer.

“I think she would be very happy with him. Tony is very popular in the States and I think he may as well come out here and give it a try,” he said.

“Hopefully he might be able to squeeze it in between solving the Palestinian problem and all those other things he”s got on,” he added. (ANI)

Ahmadinejad declares no one dares attack Iran

Addressing officers and soldiers after an army parade, Iran”s president Mahmoud Ahmadinejad has declared that Iran is so powerful today that no one would dare to attack it

Ahmadinejad said the US should stop supporting Israel and leave the Middle East and Afghanistan. “They have to leave our region. This is not a request; it is an order from the nations of the region,” the Scotsman quoted Ahmadinejad as saying.

The US has been campaigning for a new sanctions against Iran after Tehran rejected US president Barack Obama”s offer for dialogue. (ANI)

Restored WWII artillery to lead outback Anzac parade

A World War II field artillery tractor found on a scrap heap at a western Queensland cattle station will lead an outback Anzac parade later this month.

The vehicle, known as a field artillery tractor, was designed to tow guns in the North African desert and research has revealed it was used in Africa during the war but was sold at a clearing sale in 1947.

It was used on the cattle station to cart wool bales and hay and later as a bore drilling rig.

Winton Mayor Ed Warren says the vehicle was discovered by Gympie military enthusiast Lloyd McCarthy who has now fully restored it.

“It’s a World War II vehicle. It’s done service in the Middle East, It’s a Ford Blitz but it was specifically designed to tow 25 pounder guns around,” councillor Warren said.

“It’s very unique and it will come back to Winton a few more times for Anzac Day in the future as well.”

He says it will be part of Anzac commemorations in the town later this month.

“It had been pensioned off and bought at a clearing sale after the war. I think it ended up being a bore-pulling vehicle until it ended up being retired some years ago and they just put it near the dump at home and there it was until Lloyd [McCarthy] came along.”

Obama wants to increase pressure on Iran

(Reuters) – President Barack Obama intends to “ratchet up pressure” on Iran over its nuclear program and believes Tehran is becoming increasingly isolated, he said in an interview aired on Friday.

Barack Obama

Obama’s interview with CBS was taped earlier this week.

“The idea is to keep turning up the pressure,” Obama said.

He reiterated that if Iran obtained the ability to manufacture nuclear weapons, even if it did not actually make them, this would destabilize the Middle East and trigger a regional arms race.

“We’re going to ratchet up the pressure and examine how they respond but we’re going to do so with a unified international community,” Obama said.

He said the Iranian government had become increasingly isolated internationally since he took office in January 2009.

Obama discussed Iran and other issues with Chinese President Hu Jintao for about an hour on Thursday.

“President Obama underscored the importance of working together to ensure that Iran lives up to its international obligations,” the White House said in a statement after the telephone call.

Officials will begin discussing a new round of sanctions against Iran at the United Nations next week.

Iran says its nuclear program is designed to produce electricity and is entirely peaceful.

(Reporting by Alan Elsner)

Whincup sets early pace at Albert Park

V8 Supercar champion Jamie Whincup says the non-championship status of this weekend’s races at the Australian Grand Prix will not affect the level of competition on the track.

The TeamVodafone driver topped the timesheets after Thursday’s 30 minute all-in qualifying session at the Albert Park street circuit, coming in just ahead of championship rival Garth Tander.

Whincup clocked a one minute and 57.931 seconds lap in the qualifying session, with Tander second-fastest with a 1:57.997.

New Zealand veteran Greg Murphy made it a Holden one-two-three, qualifying third fastest for Friday’s top 10 shootout with a 1:58.248 lap.

While the three sprint races to be held over the weekend mean nothing in terms of the championship ladder, Whincup was adamant there is still plenty of drive to come out on top, particularly after Tander’s double win in the Clipsal 500 earlier this month.

“There’s always a good battle here, it’s always a good race,” Whincup said.

“Everyone’s going to use their tyres this year because it’s compulsory, there’ll be no-one trying to save a set for somewhere else. That’s a good initiative that’s come in.

“We’re just going to crack it out and who knows? Hopefully we’ll all have the same tyre strategy, we’ll all just put our good tyres on at the same time and we all can just battle it out.”

Tander, who recovered from a disappointing opening two rounds in the Middle East to surge back into championship contention in Adelaide, said he was enjoying the early rivalry with Whincup.

“Shootout tomorrow is going to be a difficult one, that’s one of the hardest laps we do because we don’t drive the car until the shootout tomorrow and the track grip changes considerably because the F1 guys are running,” he said.

“[I'm] looking forward to that, certainly the battle we’re having with Jamie at the moment is enjoyable, the car, set-up wise, is very different to what traditionally we’d run here and it’s responding very nicely.”

Murphy is also hoping to impress at Albert Park after missing the season-opening round in Abu Dhabi and having a disappointing weekend in Adelaide after a promising start.

“We’ve got pressure on to start doing what we’d told everyone we were going to do, and that’s to be competitive,” he said.

“This is a pretty good start.”

The other drivers to qualify for Friday’s top 10 shootout were James Courtney, Rick Kelly, Jason Richards, Paul Dumbrell and Shane van Gisbergen.

The shootout will be held from 3:00pm (AEDT) and will determine pole position and the front five rows of the grid for the day’s 13-lap sprint race starting at 6.15pm.

-AAP

U.N. council room has last meeting before renovation

The U.N. Security Council chamber — one of the world’s most familiar rooms since it was built nearly six decades ago — hosted its last meeting on Wednesday before a two-year renovation project.

The chamber is being closed as part of a $1.9 billion plan to refurbish the entire United Nations complex in Manhattan. For the time being, the 15-nation council will meet in a conference room in the basement, U.N. officials said.

With its horseshoe-shaped table and chairs upholstered in the U.N. colour of light blue, the chamber has featured in countless photographs and television news clips.

Completed in 1952, it was a gift of the Norwegian government and was designed by Norwegian architect Arnstein Arneberg.

Wednesday’s last meeting in the chamber was devoted to a briefing of the council by U.N. Secretary-General Ban Ki-moon on a trip he paid to the Middle East last weekend.

The council is scheduled to reoccupy the refurbished chamber in early 2012, said Werner Schmidt, a spokesman for the renovation project.

(Reporting by Patrick Worsnip, Editing by Sandra Maler)

Dingoes may be world’s oldest dog breed

A new study has found the Australian dingo may be the oldest breed of dog in the world.

An international study has found that the dingo, along with the new guinea singing dog, are most like the dogs domesticated in Asia and the Middle East thousands of years ago.

Dr Alan Wilton, from the University of New South Wales, says the two breeds are also the most closely related to wolves.

“There are a lot of physical and behavioural traits that are different between ancient dogs like the dingo and modern European dogs,” he said.

“Dingoes don’t bark, they howl; the new guinea singing dog sings or howls. What this study is doing is supporting that information with genetic information.

“One of the interesting parts of the study is that it shows just how unique dingoes are and how very different they are from other breeds of dogs, particularly the European domestic dogs.”

Mideast diplomatic quartet to meet in Moscow March 19: UN

UNITED NATIONS: The Middle East diplomatic Quartet is to meet in Moscow on March 19, a UN spokesman said on Tuesday.

Martin Nesirky told AFP that UN chief Ban Ki-moon “will take part in the Quartet meeting that will take place in Moscow on March 19.”

Obama to host tripartite meeting with Israeli PM and Palestinian President

Jerusalem, Sep 20 (ANI): In an effort to renew the peace process in the Middle East, President Barack Obama will host a tripartite meeting with Israeli Prime Minister Binyamin Netanyahu and Palestinian Authority President Mahmoud Abbas on Tuesday.
White House press secretary Robert Gibbs said the meeting would take place after Obama meets separately with each of the two leaders.

“These meetings will continue the efforts of President Obama, Secretary of State Hillary Clinton, and Special Envoy George Mitchell to lay the groundwork for the relaunch of negotiations, and to create a positive context for those negotiations so that they can succeed,” the Jerusalem Post quoted a White House statement, as saying.

The meetings will take place in New York on the sidelines of the United Nations General Assembly conference.

The White House announcement of the meeting comes as something of a surprise, since both Israel and the PA until Saturday continued to blame each other for the current stall in peace talks

And recently, Mitchell had failed to make progress in talks with the two leaders.

On Saturday, Mitchell said: “It is another sign of the president’s deep commitment to comprehensive peace that he wants to personally engage at this juncture.” (ANI)