Djokovic wins rain-hit Dubai final February 28, 2010 TENNIS: World No2 Novak Djokovic successfully defended a title for the first time in his career with victory at the Dubai Championship. The Serb beat Russia’s Mikhail Youzhny 7-5, 5-7, 6-3 in a final that ran into a second day after rain halted play on Saturday. “There are always people who are saying he can’t [...]
An MBA is the gateway to the international marketplace February 24, 2010 AN Australian-born executive based in London and married to a South African banker, Nick Kontopoulos could be seen as the very essence of today’s globe-trotting business internationalist. However it wasn’t until his MBA studies led him to China that he thought that he might end up living and working there. Kontopoulos, a marketing business developer [...]
Uralchem and Acision to IPO February 22, 2010 THE collapse of a string of high-profile flotations has not deterred two Russian-backed companies, Uralchem and Acision, from drawing up plans to list in London. Uralchem, Russia’s largest fertiliser manufacturer, has appointed three investment banks to advise on an initial public offering that will raise around $400m (£259m). UBS, Morgan Stanley and Renaissance Capital have [...]
Rusal’s float goes sour as shares plunge February 18, 2010 Shares in Rusal tumbled nearly seven per cent yesterday, meaning the world’s largest aluminium producer has shed more than a third of its initial public offering (IPO) price in a month. Ever-present uncertainties surrounding the group’s chief executive and major shareholder Oleg Deripaska which caused retail investors to be banned from the original float are [...]
Russia set to ban BP from field February 17, 2010 The Kremlin look set to strip BP’s Russian venture of the right to develop a massive Siberian gas field. The Russian environment watchdog said TNK-BP should not be allowed to develop the Kovykta field. Analysts say the move to block BP could further damage Russia’s standing with investors.
Shares rise as HP results beat expectations February 17, 2010 Hewlett-Packard shares jumped as it posted expectation-beating results yesterday. The figures were based on strong server and personal computer sales and a resurgence in its printing business. The company has raised its full-year outlook. Shares in the US technology company climbed 1.1 per cent in after-hours trading yesterday. For 2010, HP forecast earnings of $4.37 [...]
Rexam slips into the red in downturn February 17, 2010 CAN maker Rexam slipped into the red last year as hard-pressed consumers cut spending on drinks, although it said cost-cutting should help it improve performance in 2010. Rexam, whose customers include Coca-Cola, Pepsi and SABMiller, said it made a pre-tax loss of £59m in the year to 31 December, compared with profits of £240m last year. [...]
Vonn revels in golden dream February 17, 2010 ON a treacherous piste named Franz’s Run, American Lindsey Vonn summoned the daredevil spirit of the legendary Klammer to secure the Olympic women’s downhill title. Just a week ago Vonn, the dominant force in World Cup racing, announced in front of a packed media conference that a shin injury could have ended her Games before [...]
Exxon’s gas focus helps it to bolster 2009 oil reserves February 16, 2010 Exxon Mobil added 2bn barrels of oil equivalent (BOE) to its proved reserves in 2009, or 133 per cent of its production for that year, the largest US oil firm said yesterday. Exxon used long-term pricing to estimate its reserves instead of using the 12-month averages required under rules from the US Securities and Exchange [...]
Ikea sacks two Russian executives for failing to stamp out corruption February 15, 2010 Swedish furniture retailer Ikea sacked two executives for turning a blind eye to bribery by a subcontractor in Russia, just months after it halted expansion in the country because of bureaucratic hurdles. Ikea’s Russia spokeswoman said the group had dismissed its general director for Russia and Eastern Europe and another senior director. Bribery is a [...]