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| Global standards drive A-Pac airport security equipment market NEW DELHI, May 4: Security at airports in Asia Pacific is attracting increasing attention as governments in the region face intense pressure from countries such as the United States to.......more Hyundai
Motor Q1 profit SEOUL, May 4: Hyundai Motor Co, mired in a deepening domestic probe into a cash-for-favours scandal, posted a 37 percent drop in quarterly profit on Thursday as a stronger won currency eroded........more SingTel
plans $2.6 bln SINGAPORE, May 4: Singapore Telecoms, Southeast Asia's largest phone firm, on Thursday posted a surprise 14 percent rise in quarterly profit, thanks to.......more Greenpeace
activists hang HYDERABAD, May 4: Despite heavy security in the city in the context of the ongoing 39th annual meeting of the Board of Governors of the Asian Development Bank (ADB) here, activists of....more |
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BoR-United India Insurance tie up for selling mediclaim policy NEW DELHI, May 4: Private sector bank, Bank of Rajasthan today announced a tie-up with United India Insurance Company Ltd to distribute mediclaim policies to corporates and individuals through....more Gur prices
steady NEW DELHI, May 4: There was no change in the pattern of trading on the wholesale gur (jaggery) market here today as prices after moving in a narrow range on small bouts of buying and selling.......more Prithvi
Information hikes MUMBAI, May 4: Prithvi Information Solutions Ltd today said it has increased the Foreign Institutional Investment (FII) limit to 49 per cent in the company........more Sugar
prices up on NEW DELHI, May 4: Prices improved on the wholesale market today on scattered buying by retailers amid tight arrival and closed with fresh gains..........more |
Global standards drive A-Pac
airport security NEW DELHI, May 4: Security at airports in Asia Pacific is attracting increasing attention as governments in the region face intense pressure from countries such as the United States to comply with international standards and regulations. ''As low-cost carriers experience unprecedented success in Asia Pacific, there are massive expansion plans in airport construction and new air infrastructure projects. These factors create significant opportunities in the airport security equipment (ASE) space,'' said a recent report by Frost & Sullivan. Passenger air traffic is also on the rise in Asia Pacific and grew by a substantial 30 per cent from 2004-2005. This growth pushes governmental bodies to continuously increase expenditure on aviation security. Countries with the highest growth potential include: India, China, Japan, Indonesia, Thailand and South Korea. The markets in India and China are particularly promising with Government spending on airport security equipment reaching approximately 125 million dollars and one billion dollars respectively in 2004. Frost & Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years. The company's industry expertise integrates growth consulting, growth partnership services, and corporate management training to identify and develop opportunities. (UNI) |
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Hyundai Motor Q1 profit drops on strong won SEOUL, May 4: Hyundai Motor Co, mired in a deepening domestic probe into a cash-for-favours scandal, posted a 37 percent drop in quarterly profit on Thursday as a stronger won currency eroded the value of overseas sales. Yundai, South Korea's top auto maker, earned 318.8 billion won ($341.3 million) in net profit in the first quarter to March 31, compared with a 509.8 billion profit a year ago. The result missed a 473.1 billion won profit forecast from seven analysts polled by Reuters. The result, which was originally scheduled for last week, came after Hyundai Motor chairman Chung Mong-koo was arrested on Friday on charges of misusing company funds. Hyundai, which controls half the country's car market, is expected to show earnings improvements over the coming quarters, helped by increasing sales of higher-end models such as its Sonata sedan. Shares in Hyundai, South Korea's seventh-largest stock with a market value of about $18.8 billion, fell 16 percent in the first quarter, against the broader market's 1.4 percent drop. (AGENCIES) |
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SingTel plans $2.6 bln payout as profit rises SINGAPORE, May 4: Singapore Telecoms, Southeast Asia's largest phone firm, on Thursday posted a surprise 14 percent rise in quarterly profit, thanks to strong Asian mobile growth, and said it would return S$4 billion ($2.6 billion) to investors. State-controlled Singapore Telecommunications Ltd., Singapore's largest listed firm, made underlying net profit before goodwill and exceptionals of S$1 billion ($636 million) for the fiscal fourth quarter, up from S$881 million a year ago, beating even the most optimistic forecasts. Attributable net profit in the quarter was S$1.68 billion, compared with S$1.04 billion a year before. The group said it planned a S$2.3 billion capital reduction and would pay S$1.7 billion in dividends to its shareholders. ''A capital reduction will help us achieve an optimal capital structure while maintaining financial flexibility,'' SingTel Chief Executive Lee Hsien Yang said in a statement. Investors will have one SingTel share cancelled for every 20 owned and will receive S$2.74 in cash for every cancelled share. But the company signalled that profit would be flat in its 2006/07 fiscal year and said it needed to raise its stakes in existing mobile phone investments in Asia as well as make new acquisitions to drive growth. ''The group expects consolidated operating revenue and EBITDA (earnings before interest, tax, depreciation and amortisation) to be stable,'' it said. A SMALL HOME MARKET Facing a small home market of just 4.4 million people, where over nine out of 10 individuals own a handset, SingTel has spent S$17 billion in recent years buying operators in high-growth Asian nations with fewer cellphone users, and in the bigger Australian market. It now derives about 75 percent of revenues and two-thirds of pretax earnings from operations outside Singapore. SingTel owns 21.5 percent of Thailand's Advanced Info Service Plc., 30.8 percent of India's Bharti Group, 44.6 percent of Globe Telecom Inc. In the Philippines, 35 percent of Indonesia's PT Telkomsel, and 45 percent of Pacific Bangladesh Telecom Ltd. SingTel, 56.3 percent-owned by state firm Temasek Holdings, warned in November it might not hit its target of double-digit growth in underlying profit in the March 2006 fiscal year. It said it hoped to achieve that goal in the medium term. Its Australian unit Optus, the country's second-largest mobile operator, faces intense price competition, slowing subscriber growth and regulatory changes in a saturated domestic market, where more than eight in 10 people own a mobile phone. Last year, the Australian Competition & Consumer Commission (ACCC) cut fees that telecoms companies charge each other when their customers make calls to people on rival networks, and when a fixed-line call from one goes to the mobile network of another. Rivals Telstra Corp, Hutchison Telecommunications (Australia) Ltd. And Vodafone Group Plc have also been wooing new users with aggressive price deals, including capped mobile plans, where users can make a pre-defined volume of calls and/or text messaging for a set maximum monthly fee. SingTel said in February Optus was exploring ways to cut operating costs, such as staff cuts, outsourcing selected customer services, and automating processes. SingTel shares gained 1.5 percent in the January-March quarter, compared with a 4.8 percent decline for Telstra. (AGENCIES) |
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Greenpeace activists hang banner at Buddha Statue HYDERABAD, May 4: Despite heavy security in the city in the context of the ongoing 39th annual meeting of the Board of Governors of the Asian Development Bank (ADB) here, activists of Greenpeace managed to hire a boat and reach the statue of Buddha on the Gibralter rock in Hussain Sagar lake and hang a banner there. Even as protests mainly from the Communists were continuing all over the state, the activists alleged that the ADB was contributing to destruction of the environmental equilibrium and should not be allowed to enter India. (UNI) |
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BoR-United India Insurance tie
up for NEW DELHI, May 4: Private sector bank, Bank of Rajasthan today announced a tie-up with United India Insurance Company Ltd to distribute mediclaim policies to corporates and individuals through its offices. The bank, which is also UIICL's corporate agent for distributing non-life insurance products to its customers, would now be distributing the mediclaim policy Raj Bank Arogya Nidhi Scheme, the bank said in a release here. "The alliance with United India Insurance will help us offer mediclaim policies and move up the value chain by offering more products to our over two million customers," Bank of Rajasthan Chairman Pravin Kumar said. (PTI) |
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Gur prices steady in thin trade NEW DELHI, May 4: There was no change in the pattern of trading on the wholesale gur (jaggery) market here today as prices after moving in a narrow range on small bouts of buying and selling and settle around last levels. Maketmen said absence of any worthwhile buying and selling mainly kept prices unchanged. They said volume of business was, however, restricted. Following were today's quotations: Chakku 1600-1650, Pedi 1700-1750 and Dhayya 1750-1800 Shakkar 1700-1750 and Khandsari 2000-2100. In Muzzafar Nagar: Raskat 1100-1150, chakku 1375-1475 and Khurpa 1375-1400. In Murad Nagar: Pedi 1575-1610 and Dhayya 1700-1710. (PTI) |
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