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Italy holds out on national carrier 2006-02-08 09:30:01 The Italian government will no longer bail out ailing airline Alitalia, the country's Labour Minister Roberto Maroni says. [Full Story...] Libya seeks partners to run 300 small oilfields 2006-02-08 06:00:01 Libya, the holder of Africa's largest oil reserves, is preparing to hire foreign firms to develop more than 300 untapped fields after an increase in energy prices made it an economically viable way of raising output. [Full Story...] Opec output plummets in January 2006-02-08 06:00:01 Opec oil output in January fell to its lowest level since last February as maintenance cut production from the United Arab Emirates (UAE) and militant attacks hit Nigerian exports, a survey showed. [Full Story...] Saudi minister slams calls for oil cutbacks 2006-02-08 06:00:01 Energy consuming nations that planned to cut back on oil use in favour of alternative fuels would make it hard for oil producers to justify the investments needed to assure adequate supplies, Saudi Arabian oil minister Ali al- Naimi said yesterday. [Full Story...] Danish businesses hurt as boycott takes toll 2006-02-08 06:00:01 The boycott of Danish goods called by Islamic countries to protest against the publication of Prophet Muhammad caricatures was costing Danish businesses millions of kroner a day, analysts and companies have said. [Full Story...] Development spend to cut Botswana's budget surplus 2006-02-08 06:00:01 Botswana's budget surplus was set to decline to 922.5 million pula (R1 billion) in fiscal 2006/07 as the government boosted spending on development, finance minister Baledzi Gaolathe said this week. [Full Story...] Luxembourg law may protect Arcelor 2006-02-08 06:00:01 Luxembourg yesterday unveiled a draft takeover law that would help Arcelor, the country's biggest private employer, fend off a hostile $23.7 billion (R146 billion) bid by Mittal Steel. [Full Story...] Shipping proposal shapes up for crew 2006-02-08 06:00:01 About 1.2 million seafarers could gain better working conditions, especially in ships sailing under flags of convenience, under new rules that were likely to be adopted this month, the International Labour Organisation (ILO) said yesterday. [Full Story...] A sparkling year for champagne producers 2006-02-07 01:30:01 French champagne producers had a sparkling year in 2005, selling more than 300 million bottles of the bubbling nectar and recording a two percent rise in sales. [Full Story...] Argentina strong-arms price freeze 2006-02-07 06:00:01 Argentina's President Nestor Kirchner has summoned executives from firms such as Procter & Gamble (P&G;), Unilever and Kimberly-Clark to deliver a message: stop raising prices. [Full Story...] UK firms face cash crisis over pension rules 2006-02-07 06:00:01 Thousands of UK firms faced a cash crisis because the pension regulator had set harsh requirements for the financial health of their retirement plans, the Confederation of British Industry (CBI) warned yesterday. [Full Story...] Bush submits $2.7 trillion budget 2006-02-07 06:00:01 President George W Bush's 2007 budget proposes spending more than $2.7 trillion (R16.4 trillion), showering big increases on defence and homeland security, and a smattering of other favoured programmes such as scientific research, education and energy. [Full Story...] Chad calls on oil partners to review 'fool's deal' 2006-02-06 06:00:01 Chad's President Idriss Deby, already embroiled in an oil revenues dispute with the World Bank, has called on foreign energy partners to renegotiate a 1988 oil deal that he criticised as "a fool's agreement". [Full Story...] Zambia announces R18,9bn budget 2006-02-03 18:36:01 Zambia announced a national budget of R18,9-billion, with a third allocated for social services and poverty reduction over the next 12 months. [Full Story...] Shell pledges to use slice of profit for new energy 2006-02-03 06:00:01 Oil giant Royal Dutch Shell pledged yesterday that record 2005 profit of $22.94 billion (R140 billion) would be used partly to invest in new energy technologies and alternative fuel resources. [Full Story...] Reliance cries foul over airport contracts 2006-02-03 06:00:01 Reliance Airport Developers, a unit of the Anil Dhirubhai Ambani Group, has challenged the Indian government on the sale of stakes in the nation's two busiest airports, saying the process was not fair. [Full Story...] Lying Enron official faces credibility attack 2006-02-03 06:00:01 A former Enron official who testified that he had lied about earnings at a subsidiary was due to face questioning yesterday from lawyers for ex-chairman Kenneth Lay and former chief executive Jeffrey Skilling. [Full Story...] Mittal lobbies Spain on bid for Arcelor 2006-02-03 06:00:01 Mittal Steel said yesterday that it was finding support among Arcelor shareholders for its E18.6 billion (R138 billion) takeover offer for the world's second-largest steel maker. [Full Story...] Rio Tinto investors strike it rich 2006-02-03 06:00:01 Rio Tinto Group would return $4 billion (R24 billion) to shareholders as soaring prices for copper, iron ore and aluminium pushed proRio Tinto Group would return $4 billion (R24 billion) to shareholders as soaring prices for copper, iron ore and aluminium pushed profit to a record, the world's third-largest mining house said yesterday. fit to a record, the world's third-largest mining house said yesterday. [Full Story...] Kermas SA bids for stake in Highveld 2006-02-03 06:00:01 A consortium led by Kermas South Africa was bidding for a controlling stake in Highveld Steel & Vanadium from Anglo American, Kermas director Danko Konchar said yesterday. [Full Story...] Tanzania's power supply withered by drought 2006-02-02 11:16:01 A drought that has placed millions at risk of famine across east Africa has almost crippled Tanzania's hydroelectric plants and forced the country to ration power supplies. [Full Story...] Algeria invests oil export money internally 2006-02-02 04:06:01 Oil cartel Opec's big Persian Gulf producers are reaping massive rewards from oil prices that are again close to record levels, but the picture is more complicated for smaller north African oil exporter Algeria. [Full Story...] Bush urges US to slash reliance on foreign oil 2006-02-02 04:05:01 President George W Bush called on Tuesday for a slashing of US oil imports from the Middle East by more than 75 percent by 2025, a goal the government's top energy forecasting agency suggests will be almost impossible to meet. [Full Story...] Indian workers strike over airports' privatisation 2006-02-02 06:00:01 Thousands of workers yesterday picketed airports across India in a strike called to protest against plans to privatise the country's two largest airports at New Delhi and Mumbai. [Full Story...] New Fed chairman faces headwinds 2006-02-02 06:00:01 New US Federal Reserve chairman Ben Bernanke got down to work yesterday with a parting gift from his predecessor to cope with a new mood of uncertainty in the US economy. [Full Story...] Arcelor gets politicians' backing to resist Mittal 2006-02-02 06:00:01 French leaders yesterday rallied behind embattled European steel manufacturer Arcelor as growing signs emerged of a co-ordinated European political defence against a $23 billion (R140 billion) bid by Mittal Steel amid job fears. [Full Story...] Protests greet Indian airport winners 2006-02-01 06:00:01 India's air force was ready to handle civilian air traffic control yesterday as protesting airport workers threatened to strike after the government opened bids to privatise the two biggest airports, an official said. [Full Story...] EU antitrust chief to meet Mittal today 2006-02-01 06:00:01 EU antitrust chief Neelie Kroes was not, in principle, opposed to large steel mergers such as Mittal Steel's bid for Arcelor, she said yesterday, adding that she would meet with steel magnate Lakshmi Mittal today. [Full Story...] Air freight grows a disappointing 3.2% 2006-02-01 06:00:01 Air freight grew a disappointingly low 3.2 percent in 2005, while passenger traffic expanded by 7.6 percent, the International Air Transport Association (Iata) said yesterday. [Full Story...] Big business jittery over Iran sanctions 2006-02-01 06:00:01 Several major finance and energy companies were cutting commercial ties with Iran as US authorities stepped up enforcement of existing sanctions and diplomatic pressure intensified over Tehran's nuclear ambitions, a US newspaper reported yesterday. [Full Story...] |
