Commercial activity remains high October 14, 2013 Work on private commercial development scheme rose at its most rapid pace since March 2007 while public commercial activity stagnated last month, according to research by Savills. The property consultancy’s monthly poll of 200 commercial property developer’s activity showed the net balance stood at 25.9 per cent in September, slightly down on the 26.7 per [...]
Lok’nStore increases dividend October 14, 2013 Self-storage group Lok’n Store raised its annual dividend by 20 per cent to 6p per share yesterday after it posted a rise in sales and profits. The company reported a 1.6 per cent rise in revenues to £13m in the year to 31 July compared with the previous year, while pre-tax profits rose to £1.4m [...]
Indian oil firm joins Brazil project October 14, 2013 India’s state-run explorer Oil and Natural Gas Corp said its overseas arm yesterday agreed to buy an additional 12 per cent stake in a Brazilian oil block from Brazil’s Petrobras for $529m (£330m). Petrobras had earlier agreed to sell its 35 per cent stake in the block to China’s Sinochem Group for $1.54bn, but the [...]
Tough Australian job market sparks Page warning October 14, 2013 RECRUITER Michael Page yesterday said third-quarter profits in its Australia and New Zealand business fell by 20 per cent, hit by a slowdown in the region’s mining sector. The FTSE 250-listed firm also announced that its finance chief would be leaving after just 18 months in the role. No reason was given for the surprise [...]
PSA shares slump on reports of capital talks with Dongfeng October 14, 2013 SHARES in PSA Peugeot Citroen fell as much as 10 per cent yesterday after reports it was preparing a €3bn (£2.5bn) capital increase in which Chinese partner Dongfeng and the French state would secure stakes in it. A draft agreement, which Peugeot hopes to conclude this year, would envisage state-owned Dongfeng Motor and the French [...]
Numericable hunts for investors as it gears up to float in France October 14, 2013 FRENCH cable operator Numericable kicked off marketing its planned Paris listing to potential investors yesterday, according to an offer document. The company said last month it planned to sell 20 to 40 per cent of its capital in an initial public offering, including raising between €200m and €250m (£169.7m and £212.2m) from the sale of [...]
Fastjet expands flights overseas with new Johannesburg route October 14, 2013 FASTJET, the budget African airline backed by EasyJet founder Sir Stelios Haji-Ioannou, yesterday announced long-awaited plans to charter its first international flight service. The London-listed company will start offering flights from Tanzania to South Africa, nearly a year after the company first got off the ground with internal flights in Tanzania to top tourist spots [...]
Kentz wins new Qatar contract October 14, 2013 FTSE 250-listed engineering firm Kentz yesterday said it has been awarded a contract with Qatar Shell GTL for services at the Pearl gas-to-liquids plant in Qatar. The agreement will last three years. “Kentz was awarded its first contract on the Pearl GTL plant back in 2006 and we are delighted to continue our strong working [...]
Balfour Beatty awarded US deal October 14, 2013 Infrastructure group Balfour Beatty yesterday unveiled a new £77m contract that will include building a bridge over the Cape Fear River in North Carolina. On behalf of the North Carolina Department of Transportation, the FTSE 250-listed firm will build around 1.5 miles of a four-lane road in the state and ten bridges. The project, which [...]
Nord Gold output rises by 26pc October 14, 2013 Russian gold miner Nord Gold yesterday said its revenues rose one per cent in the third quarter to $325m (£203m) year-on-year, as higher gold production offset lower global prices. Nord Gold, controlled by businessman Alexei Mordashov, said its output increased by 26 per cent, but the average gold price fell 21 per cent to $1,325 [...]
