Capital Goods Industrial Conglomerates

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  • BOGOTA, May 12- Construction firm Odebrecht will transfer to another company much of its $847.5 million majority stake in a project to make Colombia's Magdalena River navigable, as it faces corruption allegations in Brazil, Colombian officials said on Thursday. Odebrecht, Latin America's largest engineering conglomerate, will relinquish 50 to 75 percent of...

  • MOSCOW, May 12- Russian state-controlled telecoms operator Rostelecom said on Thursday it has set up a joint venture with industrial conglomerate Rostec to produce their own network equipment. Russian network operators currently rely heavily on foreign equipment producers such as Nokia Corp, Ericsson, Huawei and Samsung for their hardware, which has...

  • *Firm looking at U.S., India, Indonesia, Vietnam, China. DHAHRAN, Saudi Arabia, May 10- Saudi Arabia's state-owned oil giant Aramco is finalising proposals for its partial privatisation and will present them to its Supreme Council soon, its chief executive said about the centrepiece of the kingdom's efforts to overhaul its economy. They will be presented "soon" to...

  • *Firm looking at U.S., India, Indonesia, Vietnam, China. DHAHRAN, Saudi Arabia, May 10- Saudi Arabia's state-owned oil giant Aramco is finalizing proposals for its partial privatization and will present them to its Supreme Council soon, its chief executive said about the centerpiece of the kingdom's efforts to overhaul its economy. They will be presented "soon" to...

  • *JSW Group one of India's most indebted conglomerates. MUMBAI/ NEW DELHI, May 10- India's JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed on Tuesday, prompting concerns about its debt levels and putting pressure on its shares. JSW Steel said in a statement it was evaluating UK steel assets...

  • *Firm looking at U.S., India, Indonesia, Vietnam, China. DHAHRAN, Saudi Arabia, May 10- Saudi Arabia's state-owned oil giant is finalising options for its partial privatisation and will present them to its Supreme Council soon, its chief executive said about the centrepiece of the kingdom's efforts to overhaul its economy. "We are looking at the current market status...

  • *JSW Group one of India's most indebted conglomerates. MUMBAI/ NEW DELHI, May 10- India's JSW Steel Ltd has bid for the British operations of Tata Steel Ltd, two sources with direct knowledge of the matter confirmed, worrying bankers about its high debt levels and pulling down JSW shares on Tuesday. Mumbai- based JSW Steel unsuccessfully bid in 2014 to buy some assets...

  • TOKYO, May 10- Japan's giant trading houses are looking for new paths to profitability after some of them racked up the first losses in their history on Tuesday, stung by a global commodities slump. The companies are set to boost investment in diverse sectors such as food and healthcare, broadening further beyond a traditional focus on supplying commodities to...

  • RIYADH, May 8- Managing Saudi Arabia's new energy mega-ministry, set to oversee over half the economy and designed to cut through a tangled bureaucracy to make government more coherent and efficient, will be a formidable challenge. The new Energy, Industry and Mineral Resources Ministry, under Khalid al-Falih, already chairman of state oil company Saudi Aramco,...

  • Net income for Berkshire rose to $5.59 billion, or $3,401 per Class A share, from $5.16 billion, or $3,143 per share. Operating profit fell 12 percent to $3.74 billion, or $2,274 per Class A share, from $4.24 billion, or $2,583 per share. Analysts on average had expected operating profit of about $2,759 per share, according to Thomson Reuters I/B/E/S, before Berkshire...

  • LONDON, May 4- Denmark's A.P. The recently-streamlined conglomerate still considers Maersk Oil as core to its business and for years the expectation was that the Qatar field would be part of this as Maersk would renew a 25- year production agreement when its licence ran out in 2017.. "On Qatar, yes, we are in a tender process.

  • An employee welds the shell frame of a train car at the Siemens Industry manufacturing facility in Sacramento, California.

    German industrial group Siemens beat expectations for second-quarter profit as it accelerated a cost-cutting program and lifted its savings target for the year on Wednesday.

  • LONDON, May 3- Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel on Tuesday, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs. India's Tata group announced plans to sell its entire UK steel operation in March, leaving the government...

  • LONDON, May 3- Metals group Liberty House will submit a letter of intent to buy the British assets of Tata Steel on Tuesday, a spokeswoman said, in the first concrete bid since the Indian conglomerate put the business up for sale, threatening thousands of jobs. Liberty's Executive Chairman Sanjeev Gupta had been the first businessman to express an interest in...

  • DUBAI, May 1- Stock markets in the Gulf were mixed in early trade on Sunday with Saudi Arabia's bourse buoyed by commodity-related shares while banks weighed on United Arab Emirates indexes. Saudi Basic Industries added 1.2 percent; Abdullah bin Mohammed al-Issa, a board member of Saudi Basic Industries, will also join Ma'aden's board. Heavyweight First Gulf...

  • OMAHA, Neb., April 30- Warren Buffett on Saturday defended several of Berkshire Hathaway Inc's larger or struggling investments, including Coca-Cola and the BNSF railroad. Speaking at Berkshire's annual shareholder meeting in Omaha, Nebraska, Buffett also said overall first-quarter operating profit probably fell 12 percent to $3.73 billion from $4.24...

  • OMAHA, Neb., April 30- Warren Buffett on Saturday said preliminary first-quarter profit at his Berkshire Hathaway Inc fell about 12 percent, hurt by weaker performance in its railroad and insurance operations. Quarterly operating profit for the Omaha, Nebraska- based insurance and investment conglomerate probably fell to $3.73 billion from $4.24 billion.

  • *Central beats rival TCC to win Vietnam business. *Vietnam deal takes Casino asset sales to 4.2 bln euros. Casino, facing weak markets in Brazil and fierce competition in France, has said it aimed to raise around 4 billion euros this year by selling off businesses in Thailand and Vietnam plus the sale of real estate assets in Latin America.

  • *Central beats rival TCC to win Vietnam business. *Thai tycoons jostle for deals in Vietnam. SINGAPORE/ BANGKOK, April 29- France's Casino Group agreed to sell its Vietnam unit to Thai conglomerate Central Group for 1 billion euros including debt, giving the retailer respite from a debt pile that pushed its credit rating to junk.

  • SINGAPORE/ BANGKOK, April 29- France's Casino Group has agreed to sell its Vietnam unit to Thai conglomerate Central Group for 1 billion euros including debt, the retailer said on Friday confirming an earlier Reuters story. Central Group, controlled by business family Chirathivat with interests in real estate, department stores and retailing, beat rival Thai...