Siemens Q3 operating profit rises 40 pct

July 29 (Reuters) – Cost cuts and a weaker euro helped German engineering conglomerate Siemens (SIEGn.DE) post a 40 percent rise in fiscal third-quarter operating profit to a better than expected 2.33 billion euros ($3.03 billion).

Siemens said sales in the three-month period to the end of June grew four percent year-on-yar to 19.2 billion euros, while new orders were up 22 percent at 20.9 billion. Both figures were also higher than in the January-March period this year.

A Reuters poll of analysts had estimated third-quarter total sectors profit — or operating profit — at 2.1 billion euros, new orders at 18.5 billion euros and sales at 18.6 billion euros.

UPDATE 1-Speedy Hire stays cautious on recovery in UK

July 20 (Reuters) – Tool-hire firm Speedy Hire (SDY.L) said on Tuesday it maintained a cautious view about recovery prospects in the United Kingdom for the remainder of this year.

The company, which provides support services to construction, manufacturing, industrial and rail sectors, said the timing of recovery within private sector construction and the government’s autumn spending review will be critical to future performance.

However, Speedy Hire said first-quarter revenue and adjusted pretax profit were in line with its expectations.

The company said it would enhance its banking facilities to invest in its Middle East operations and take a one-time cash charge of 3.5 million pounds in the first half of this financial year.

Net debt at the end of last week closed at 134.9 million pounds ($205.4 million), the company said.

Shares of Speedy Hire closed at 22.5 pence on Monday on the London Stock Exchange. ($1=.6567 Pound) (Reporting by Juhi Arora in Bangalore; Editing by Unnikrishnan Nair) ((juhi.arora@thomsonreuters.com; within UK +44 207 542 7717; outside UK +91 80 4135 5800; Reuters Messaging: juhi.arora.reuters.com@reuters.net))

RPT-Sandvik Q2 pretax profit beats forecast

July 20 (Reuters) – Tool and machinery maker Sandvik (SAND.ST) reported second quarter earnings on Tuesday which beat expectations and said demand had improved in the period.

The Swedish company, which supplies a wide range of sectors including the mining and construction industries, said its second quarter pretax profit was 3.0 billion crowns ($408.2 million) versus the 2.4 billion crowns mean forecast in a Reuters poll.

“Demand for Sandvik’s products continued to improve in the second quarter.” it said in a statement.

UPDATE 1-E2v sees FY performance at upper end of its view

July 19 (Reuters) – British electronic component maker e2v Technologies Plc (E2V.L) said trading since March 31 was ahead of last year and it expected performance for the current financial year to be at the upper end of its estimates, helped by strong demand and order book.

The company said its order book for delivery over the next 12 months as on June 30 stood at 146 million pounds ($223.2 million), compared with 127 million pounds last year.

The increase in order book reflects improved underlying demand from certain sectors, e2v said.

Although overdue orders have reduced, they are still at an unusually high level and should return to normalised levels during the third quarter of this financial year, the company said in a statement.

Shares of e2v were up 0.8 percent at 63 pence at 0717 GMT on Monday on the London Stock Exchange. ($1=.6541 pound) (Reporting by Juhi Arora in Bangalore; Editing by Unnikrishnan Nair) ((juhi.arora@thomsonreuters.com; within UK +44 207 542 7717; outside UK +91 80 4135 5800; Reuters Messaging: juhi.arora.reuters.com@reuters.net))

Taiwan’s China Steel to cut prices for Sept

July 13 (Reuters) – China Steel (2002.TW), Taiwan’s top steel maker, will cut domestic prices by an average of about 4 percent for September over July-August because of reduced demand for home construction materials in China, a company executive said on Tuesday.

Bigger rival Baosteel Group said in June that China’s steel industry will face its toughest time of the year during the third quarter, as iron ore contract prices will peak in the quarter while steel consumption by the auto and housing sectors will be sluggish. [ID:nTOE65703O]

(Reporting by Lin Miao-jung; Editing by Ken Wills)

RoodMicrotec N.V.: RoodMicrotec achieves strong sales growth in first half 2010

The provisional sales for the first half of 2010 of € 7.328 million grew strongly by
32.1% compared to the first half of 2009 (HY1 2009: € 5.547 million).
We realised growth rates of 42% and 176% respectively in the business units Test and
Supply Chain Management. The Qualification & Reliability Investigation business unit
showed limited growth (+1%), while Failure & Technology Analysis and Test Engineering
fell by -11% and -42% respectively.
The first months of 2010, the market recovery was largely limited to existing services.
New developments of our customers continue to be postponed; resulting in Test
Engineering especially lagged behind budget in the first months of the past half year.
We expect that under normal conditions these services will show growth in the second
half of 2010. However, as stated earlier, this sales growth will not be as significant
as in Test and Supply Chain Management.

Sales by business unit in the first half of 2010 vs. first half of 2009

(x EUR 1000) HY1 2010 HY1 2009
Change
Test 3,319 2,337
+42%
Supply Chain Management 1,791 0,650
+176%
Failure & Technology Analysis 0,753 0,845
-11%
Test Engineering 0,349 0,606
-42%
Qualification & Reliability Investigation 1,116 1,109
+1%
Total 7,328 5,547
+32%

‘I am pleased to find that we have achieved strong growth (see table) in line with
market developments. Admittedly, we are not yet growing in all sectors, but the total
number of order applications and the total order intake are encouraging. I expect our
engineering capacity to be fully in use in the near future,’ Philip Nijenhuis, CEO of
RoodMicrotec, commented.

Measures taken
We have extended capacity in Test and will extend it further by means of
rationalisation. In Test Engineering, we have reduced working time. This has enabled us
to partially relieve undercapacity resulting from postponement of engineering contracts.

Outlook
Based on the developments in the first half of 2010 we expect sales to increase further,
barring unforeseen circumstances. The sales growth in the full year 2010 will lead to an
improvement of the result and the cash position in the second half of 2010.
In the long term, we consider an average annual sales increase of between 5% and 15% to
be realistic.

Financial agenda 2010/2011
31 August 2010 Publication interim report 2010
31 August 2010 Conference call for press and analysts
11 November 2010 Publication trading update
11 January 2011 Publication sales figures full year 2010
24 February 2011 Publication annual figures 2010
24 February 2011 Conference call for press and analysts
10 March 2011 Publication annual report 2010
24 March 2011 Annual general meeting of shareholders

Forward-looking statements
This press release contains a number of forward-looking statements. These statements are
based on current expectations, estimates and prognoses of the board of management and on
the information currently available to the company. The statements are subject to
certain risks and uncertainties which are hard to evaluate, such as the general economic
conditions, interest rates, exchange rates and amendments to statutory laws and
regulations. The board of management of RoodMicrotec cannot guarantee that its
expectations will materialise. Furthermore, RoodMicrotec does not accept any obligation
to update the statements made in this press release.

About RoodMicrotec
With 40 years’ experience as an independent value-added microelectronics and
optoelectronics service provider, RoodMicrotec offers a one-stop shopping proposition to
fabless companies, OEMs and other business partners.

RoodMicrotec has built up a strong position in Europe with its powerful solutions. Its
services comply with the highest industrial and quality requirements as demanded by the
high-reliability/aerospace, automotive, telecommunications, medical, IT and electronics
sectors.

‘Certified by RoodMicrotec’ concerns certification of products inter alia to the
stringent ISO/TS 16949 standard for suppliers to the automotive industry. The company
has an accredited laboratory for testing and calibration activities in accordance with
the ISO/IEC 17025 standard.

The value-added services include failure & technology analysis, qualification &
monitoring burn-in, test- & product engineering, production test (including device
programming and end-of-line service), ESD/ESDFOS assessment & training, quality &
reliability consulting, supply chain management and total manufacturing solutions with
partners.

RoodMicrotec has facilities in Germany (Dresden, Nördlingen, Stuttgart) and in the
Netherlands (Zwolle).

For further information:
Philip Nijenhuis, CEO Phone: +31 38 4215216 Fax: +31 38
4216410
Correspondence address:
RoodMicrotec N.V., P.O. box 1042, 8001 BA Zwolle, The Netherlands
E-mail: info@roodtechnology.com Web-site: www.roodmicrotec.com

http://www.roodmicrotec.com/

HUG#1429738

PDF-Version of graphic “Sales Revenue Index”

http://hugin.info/130789/R/1429738/376760.pdf

Complete Press Release as PDF http://hugin.info/130789/R/1429738/376761.pdf

Barron’s sees upside for The Pantry

June 20 (Reuters) – Shares of The Pantry Inc (PTRY.O) have potential upside, Barron’s reported on Sunday, as the convenience store operator may be an attractive takeover target.

Stocks | Global Markets | Non-Cyclical Consumer Goods

The Pantry, which operates the Kangaroo Express convenience stores, have been trading at a much lower multiple than the one implied by a recent hostile bid for rival Casey’s General Stores Inc (CASY.O) by Canada’s Alimentation Couche-Tard Inc [ATD.UL], Barron’s said.

While it is unlikely that The Pantry could trade at the same multiple as Casey’s, it could close some of the gap, Barron’s said, adding that convenience stores have not consolidated as much as other sectors of retail. (Reporting by Martinne Geller; Editing by Marguerita Choy)

In China’s interest to revalue -IMF chief economist

June 16 (Reuters) – It is in China’s interest to revalue its currency, and from the point of view of the rest of the world, it should happen as soon as possible, the International Monetary Fund’s top economist was quoted as saying.

Bonds | Global Markets

“Some sectors in China are overheating and workers are demanding more pay. They (authorities) don’t want the inflation risk to grow,” IMF Chief Economist Olivier Blanchard said in Finnish business paper Kauppalehti on Wednesday.

“I don’t know when and by how much the yuan will be revalued, but I believe it is in their (China’s) interests. For the rest of the world it is important that it happens as soon as possible,” he said.

Blanchard also said it was clear the global economy was on a growth path.

“The real economy is recovering, of that there is no doubt. If anything the recovery has been stronger than we have forecast,” he said.

(Reporting by Brett Young; Editing by Neil Fullick)

UPDATE 1-Canada April building permits post unexpected gain

June 4 (Reuters) – The value of Canadian building permits posted an unexpected 5.4 percent gain in April from March on strength in the nonresidential sectors, Statistics Canada data indicated on Friday.

Market traders had predicted a 2.0 percent decrease. The gain was the second month in a row that permits have risen after four straight months of declines.

Nonresidential intentions jumped by 32.2 percent in April on gains in both institutional and commercial buildings.

Residential intentions slipped 8.0 percent on declines in single- and multifamily permits in Ontario, British Columbia and Quebec — three of Canada’s most powerful provinces.

Permits were up 48.2 percent from a year earlier when their values were near record lows. (Reporting by David Ljunggren; Editing by Theodore d’Afflisio)

Price of electricity to increase by Rs one per unit: Shinde

New Delhi, May 20 (ANI): Union Power Minister Sushil Kumar Shinde said here today that the price of electricity would increase by Rs one per unit following the increase in the prices of natural gas.

The government on Wednesday revised administrative pricing mechanism of natural gas.
CNG will become costly by about 20 per cent and the price of natural gas has also doubled.

The government has revised the administrative price mechanism of natural gas from Rs 3200 to Rs 6,118. It was last revised last in 2005.

The revision was considered essential. Power and fertiliser sectors are the major customers of Indian gas are. The cost of production for fertiliser plants is expected to go up but it will be offset by government subsidy.

Since the fertilisers are subsidised, the revision is not likely to have much impact on fertiliser prices, but for the power sector, the over-all increase would be 2.75 per cent.

The government is likely to earn an additional revenue of Rs 3500 crore per annum from ad valorem taxes.

OIL is expected to gain Rs 500-Rs 700 crore per annum while ONGC is likely to earn Rs 6000-Rs 7000 crore more per annum. (ANI)

Government, Industry must find a way to bridge the trust of people: Chidambaram

New Delhi, May 12 (ANI): Union Home Minister P Chidambaram on Wednesday said that government and industry must find a way to regain the trust of the people.

Speaking at the CII National Conference and Annual Session 2010, Chidambaram said neither government nor businesses alone can address the issue of Naxalism in the country.

The government is following a two-pronged approach to bring development to the affected areas while also using police action selectively to reassert civilian authority.

He said the government has allocated large amount of funds to affected areas in sectors such as highways, schools, housing, health and rural electrification. However, reports suggest that only two-third of the allotted money has been spent while the elected representatives from these areas feel that very little real development is visible on the ground.

The Naxalites have been actively destroying all visible signs of development such as school buildings, telecom towers and railway infrastructure. He said that in a country that faces a serious shortage of power, it is ironic that local people are opposing the construction of a power plant in several districts. This is indicative of the trust deficit that has developed between people on the one hand and industry and government on the other. He urged industry to play its role in taking development to the people even as the government is following its own strategy.

While discussing the issue of inclusive growth, he said that our record has been mixed. Even though our economy has achieved an average rate of 8.5% growth in the five year period 2004-09, the performance of the backward states has been poor. Some of the Central Indian states have lagged behind and these are the states where threats to security have developed.

On this occasion, Chidambaram also released two CII reports. One was a White Paper on Safe Cities and the second was a report on Security of Investments in India – A closer look at Naxalite affected areas. The report had been commissioned by the CII Task Force on Security of Investment under the chairmanship of Mr. B B Tandon, former Chief Election Commissioner.

Venu Srinivasan, President, CII said that while economic growth has increased, the disparity across states has also increased. Industry is keen to be involved in the socio-economic development of backward regions so that growth is inclusive but would need political and administrative support from the government.

Thanking the Home Minister for his frank discussion of the Naxalite problem, Mr. Hari Bhartia, President-Designate, CII said that CII would engage in development work to address the gap in trust and faith that he had referred to. (ANI)

RBI to come out with a report on food inflation

Kolkata, May 11 (ANI): Reserve Bank of India (RBI) Deputy Governor Subir Gokarn said the bank would come out with a report on food inflation in a few weeks time.

Talking to reporters here, Gokarn said that the paper would study the impact of monsoon on the food price rise and whether the rise in excessive demand for sugar, milk and pulses indicated a shift in the nutritional choices of the people.

He also said a good monsoon should augur well for the food prices.

“I have no control over the monsoons, I have no idea as to how the monsoon process will play out. We are getting initial forecast of the monsoons being normal but ultimately the process, the path of the food prices in the short term over the next few months will depend significantly how good the monsoons are,” he said.

“So, if we have a normal monsoon across the country we should see the food prices started to come down over the course of the next few months,” he added.

According to the government data, India”s annual food inflation hovered around 16.04 percent for the week ended April 24.

Inflation is spreading to non -food manufactured items, which may keep pressure on overall inflation. Last month, RBI tightened its monetary policy with a view to arresting food inflation from spreading to other sectors.

Last year, the government”s forecast of a normal monsoon proved wrong and the country grappled instead with a baking drought caused by its driest monsoon in 37 years.

Good rainfall would help India”s farm output rebound after last year”s drought, which triggered a sustained rise in inflation that boosted food prices 17.7 percent in the 12 months to April 10, and fuel prices by 12.5 percent. (ANI)

Darwin celebrates May Day

More than 500 people have marched the city streets of Darwin to celebrate May Day.

With flags held high, workers from all sectors came together to celebrate the labour movement and commemorate the introduction of the eight-hour working day.

They chanted loudly: “Workers united, never to be defeated”.

Crowds gathered streetside to watch the spectacle which snaked loudly down Mitchell Street. Celebrations later continued at the Esplanade and live bands played into the night.

Workers will tomorrow hear what the Government’s budget holds for their respective industries.

Nikkei edges higher, buoyed by traders and Dentsu

TOKYO, April 12 (Reuters) – Japan’s Nikkei average edged up 0.4 percent on Monday after better-than-expected U.S. wholesale inventories underscored a recovery in the U.S. economy, while ad agency Dentsu (4324.T) surged on improved earnings guidance.

Stocks | Global Markets | Financials

Trading houses such as Mitsui & Co (8031.T) did especially well after metals prices rose, but buying emerged across a broad range of sectors as confidence grew after the Dow .DJI briefly rose above 11,000 for the first time in 18 months.

Some light profit-taking emerged in late trade, though, paring gains.

The benchmark Nikkei .N225 rose 47.56 points to 11,251.90 after earlier rising more than 1 percent. The broader Topix rose 0.5 percent to 994.78. (Reporting by Elaine Lies)

Egypt’s Palm Hills rights issue 95 pct subscribed -paper

CAIRO, April 11 (Reuters) – Egyptian developer Palm Hills Developments (PHDC.CA) shareholders bought 95 percent of the shares on offer in a 699 million Egyptian pound ($127 million) rights issue, a newspaper said on Sunday.

Financials

Palm Hills plans to use the issue’s proceeds to speed up construction and expand into hotels and other sectors, shielding it from home sales volatility, it said.

The firm is expected to reopen the rights issue to cover the unsubscribed portion, Egyptian daily al-Mal reported, quoting unnamed sources close to the issue.

Palm Hills executives were not immediately available for comment.

Under the rights issue, which closed on April 6, each shareholder is entitled to one share at 2 pounds each for every two shares held, Palm Hills has said.

Palm Hills shares traded at 6.70 pounds, up 0.6 percent, at 0846 GMT. (Writing by Alexander Dziadosz)

Schools join forces to help disabled kids

Canberra’s public and private schools will combine resources and expertise to help students with special needs.

Education Minister Andrew Barr has established a working group consisting of representatives from all sectors to share expertise and resources.

Mr Barr says it is hoped the closer collaboration will make it easier for students with disabilities to move from one school to another.

“What we have identified is there is often a disconnect when a student with a disability leaves a school that they’ve been at for a long time and then transitions into a new school environment,” he said.

“It’s really important that those linkages and a proper handover occurs and that can be even more complex if the transition is from a public school to a non-government school and vice versa.”

Mr Barr says the working group will create closer ties and partnerships between schools.

Market flat at midday

The Australian share market has reversed earlier gains and is trading largely flat.

Around 12:00 pm (AEDT) the All Ordinaries index was 4 points lower to 4,901.

The ASX 200 was also down 4 points at 4,892.

There are mixed results in most sectors today.

Miner BHP Billiton was 0.3 per cent higher, but Rio Tinto was down 0.6 per cent.

Out of the big four banks, ANZ and the Commonwealth Bank were 0.12 per cent lower and 0.77 per cent lower, respectively.

However, Westpac was 0.43 per cent higher and the National Australia Bank had added 0.4 per cent.

Telstra shares were up 2 cents to $3.08, after the telco announced a reshuffle of its executive team.

The Australian dollar was buying 90.5 US cents.

Market flat at noon

The Australian share market has reversed earlier gains and is trading largely flat.

Around noon (AEDT) the All Ordinaries index was 4 points lower to 4,901.

The ASX 200 was also down 4 points to 4,892.

There are mixed results in most sectors today.

Miner BHP Billiton was 0.3 per cent higher but Rio Tinto was down 0.6 per cent.

Of the big four banks, ANZ and the Commonwealth Bank were 0.12 per cent lower and 0.77 per cent lower, respectively.

However, Westpac was 0.43 per cent higher and the National Australia Bank had added 0.4 per cent.

Telstra shares were up 2 cents to $3.08 after the telco announced a reshuffle of its executive team.

The Australian dollar was buying 90.5 US cents.

Stakeholders gather for final gas hub meet

The Department of State Development will today host the final of three stakeholder meetings related to the proposed Kimberley gas hub.

The meetings bring together representatives from a range of sectors to identify possible gaps in the information being presented to the Federal Government on the project.

A series of impact studies will soon be submitted to the Commonwealth as it considers whether to grant environmental and heritage approvals.

The first two meetings focused on the effects of the project on the land and sea.

Today’s meeting will look at its social impacts.

No takers for ULFA ideology in birthplace Sibsagar

Guwahati, Mar 25 (ANI): The United Liberation Front of Asom’s (ULFA) ideology and its violent activities have no takers in Assam’s Sibasagar -its birthplace.

What people want here, like the rest of the state, is peace and development.

This is possible only if the ULFA decides to come forward for talks with the Union Government.

Since the arrest of top ULFA commanders in December last year, the Assamese have a reason to feel more optimistic.

They foresee a peaceful and progressive Assam, like other states in the country.

“There is peace in Assam. Now ULFA is showing interest for cooperation, so they will also have to give us importance, and how to cooperate in all sectors of life,” said Amit Das, a local businessman

“For peace negotiation is a must, the ongoing peace process being taken up by both parties is a welcoming one. Now we hope that there will be no more bomb blast; no more Army killing ULFA and ULFA killing Army,” said

Ranjit, a local trader.

“For the past 30 years, there has been unrest, we want there should be peace. Tourism is increasing, and militancy has gone down. It is not like that ULFA was born here, so tourist won’t come here, this place is still at peace,” said Diganta Das, a local.

Tourists come to Sibsagar from across India and abroad to see the 200-year-old Sibsagar Tank and Rang Ghar, the oldest amphitheater in Asia.

Once a hotbed of militancy, Sibsagar now is a tourist hotspot.

“I am seeing that the place I have visited here is quite peaceful, and whatever people say it is a beautiful place,” said Chandon Hazarika, a local.

“I came to see Rangghar, it’s a beautiful place and many historical places are there and there is no problem here. Some people think of ULFA, but they should not fear them,” said Manoj Dutta, a tourist

The consensus in Assam is that ULFA should talk to the Union Government.

The government on its part is taking every possible initiative to bring the ULFA to negotiating table.

The people of Assam have suffered a lot in the last three decades of militancy.

Whether it is Sibasagar, the birthplace of ULFA or any other part of Assam, there is one common theme – peace.

If there is peace there will be economic growth. And this is what the people want. (ANI)