Gulf Keystone hails its best well April 23, 2012 ● Gulf Keystone, which focuses on oil projects in Kurdistan, said that its Shaikan-4 well was producing 24,000 barrels of crude a day on test, making it the company’s best performing well. The company’s shares surged by more than 11 per cent after the upbeat update.
SME borrowing down again as demand drops April 23, 2012 BUSINESS lending fell again in February, official data showed yesterday, while the level of mortgage loans is set to plummet after the end of the stamp duty holiday last month. Lending to firms was three per cent lower in February than in the same month of 2011, Bank of England figures revealed, as total corporate [...]
Factory output keep sliding as China struggles to find growth April 23, 2012 MANUFACTURING output in China fell for a second consecutive month, survey data showed yesterday, raising fears the economy will not recover as sharply as some analysts had hoped. Initial estimates of the manufacturing sectors’ purchasing managers’ index (PMI), compiled by Markit and HSBC, rose from 48.3 in March to 49.1 in April. That is below [...]
Government needs a clearer strategic plan, says committee April 23, 2012 THE GOVERNMENT was accused this morning of lacking a “coherent strategy” to back up its policies. The Public Administration Select Committee (PASC) cites “recent concerns about a strategic vacuum at the centre of government” and calls for the publication of a clear long term strategy in the run up to each year’s Budget. The committee [...]
Fuel tanker firms get back round the table with Unite April 23, 2012 TRADE union Unite yesterday resumed talks with fuel tanker firms aimed at averting a strike. The firms and union reps took part in talks at dispute resolution service Acas yesterday and are set to do so again today. Fuel distribution firms last week granted Unite an extension to its strike mandate, which is now due [...]
MP calls for Tobin explanation April 23, 2012 ● High-profile Conservative MP Andrew Tyrie yesterday called on the government to reveal how workable a global financial transaction tax (FTT) would be. The European Commission wants to implement an EU-wide FTT, but the government opposes it on the grounds that firms could simply move to other jurisdictions. Instead, it claims it would support the [...]
No construction growth for years April 23, 2012 ● Construction sector output is expected to fall by almost three per cent this year, according to forecasts out yesterday from the Construction Products Association. The trade body blames falling government spending for the decline, and does not expect the sector’s output to rise until stronger private sector demand drives growth in 2014. “Public sector [...]
EU suspends sanctions on Burma April 23, 2012 ● Most EU sanctions against Burma were suspended yesterday, thanks to a shift towards democracy in the country. The arms embargo will remain in place, but European companies will be allowed to invest in Burma, which has significant natural resources and borders economic giants China and India. The EU had frozen the assets of nearly [...]
WHO’S SWITCHING JOBS April 23, 2012 Northill Capital The asset manager, founded in 2010, has announced the appointments of Darius Berendji and Cathy Jones as partners in its management team. Berendji joins as partner and chief financial officer. He was previously financial director for Kedge Capital. Jones joins as partner and head of human resources. She previously held the same role [...]
BEST of the BROKERS April 23, 2012 HERITAGE OIL UBS has upgraded the oil and gas group from “neutral” to “buy” and maintained its target price on the stock at 190p following recent weakness in the shares. The brokers says that the 22 per cent fall in the share price since the start of the year is “unjustified” given the company’s unchanged [...]
