Tatas in exploratory talks with Saudi conglomerate

September 17th, 2009 NEW DELHI - The government Thursday gave its approval to the proposed amendments to the India-Saudi Arabia air service agreement to help enhance bilateral trade and promote tourism. The provision of the incorporation of multiple designation clause has been agreed.

September 17th, 2009 NEW DELHI - The government Thursday gave its approval to the proposed amendments in the India-Saudi Arabia air service agreement. Both sides had held talks earlier and agreed Jan 23, 2008 to modernise the air service agreement signed in 1973 to boost bilateral trade and promote tourism.

August 13th, 2009 Hutchison Whampoa's first-half earns plunge 33 pctHONG KONG — Hong Kong conglomerate Hutchison Whampoa Ltd., run by billionaire Li Ka-shing, said Thursday its earnings tumbled 33 percent in the first half as its oil, ports and hotel businesses flagged amid the economic downturn. Net profit for the six months through June fell to 5.76 billion Hong Kong dollars (about $743 million) from HK$8.59 ($1.1 billion), the company said in a statement to the stock exchange.

July 30th, 2009 Siemens 3Q net profit euro1.3 billion, down 7 percentFRANKFURT — German industrial conglomerate Siemens AG said Thursday its net profit for its fiscal third quarter fell 7 percent as the global recession curbed demand for its products which range from light bulbs to high-speed trains. The Munich-based company said net profit in the April-June period fell to euro1.3 billion ($1.8 billion) from euro1.4 billion in the year-ago quarter.

July 27th, 2009 Saudi Arabia orders 3 Airbus tankersPARIS — The Saudi Arabian Air Force has ordered three Airbus tanker aircraft for use in air-to-air refulling missions, Airbus parent company EADS said in a statement Monday. The order comes in addition to the first three A330 tankers that Saudi Arabia ordered in 2008.

July 21st, 2009 Saudi prince's Kingdom Hldg Q2 profits drop 83 pctDUBAI, United Arab Emirates — The investment company headed by a Saudi billionaire with a major Citibank stake says its profit tumbled 83 percent in the second quarter because of stock market losses and a slump at its hotel businesses. Kingdom Holding Co., chaired by Prince Alwaleed bin Talal, said in a statement posted Tuesday on the Saudi stock market Web site that its earnings between April and June dropped to 92.1 million riyals ($24.6 million), from 534.7 million riyals during the same period a year earlier.

July 7th, 2009 TOKYO - Saudi Arabia and the United Arab Emirates (UAE) are the largest oil suppliers to the world's second largest economy Japan and account for over half of the country's oil imports, WAM news agency reported Tuesday citing Japanese government figures. Saudi Arabia remained the largest crude oil supplier to Japan in May 2009, exporting 31.4 million barrels per day and accounting for 28.8 percent of total its oil imports.

July 6th, 2009 McMoRan reports potential discovery at gas wellNEW ORLEANS — Independent oil and gas producer McMoRan Exploration Co. said Monday that drilling results indicate a potential discovery at a deep gas exploratory well in Louisiana.

July 1st, 2009 EADS wins border security deal with Saudi ArabiaPARIS — European aerospace and defense contractor EADS NV has won a major contract with Saudi Arabia to supply a border security system covering 9,000 kilometers (5,600 miles) of the kingdom's land and sea frontiers, the company said Wednesday. The European aerospace and defense contractor said the system will be put in place over the next five years.

June 29th, 2009 Ex-Red Sox part owner considers Maine governor bidSOUTH PORTLAND, Maine — Les Otten, a former part owner of the Boston Red Sox, says he is considering a Republican bid for Maine governor in 2010. Otten has formed an exploratory committee and plans to spend the next two to four months on the road.

June 8th, 2009 Saudi Saad Group pushes ahead with restructuringCAIRO — A privately held Saudi Arabian conglomerate facing stiff financial troubles because of defaults has denied reports its accounts in Kuwait were frozen, and said it was pushing ahead with debt restructuring plans. Saad Group, headed by billionaire and major HSBC stakeholder Maan al-Sanea, said it will soon announce its proposal for a coordinating bank and four accounting firms to spearhead the restructuring process.

June 2nd, 2009 Saudi Saad Group restructures debtCAIRO — A Saudi conglomerate whose billionaire chairman is under the spotlight by the kingdom's banking authorities had its credit rating knocked down several notches to junk status by a leading debt rating firm on Tuesday. The announcement by Moody's Investors Service came as Saad Group, headed by major HSBC stakeholder Maan al-Sanea, said it was planning an "orderly restructuring" of some of its companies' debt, citing liquidity issues linked to the global economic meltdown.

May 31st, 2009 Saudi Arabia freezes billionaire's accountsCAIRO — The Saudi central bank has ordered local banks to freeze the accounts of a Saudi billionaire billed as the world's 62nd richest men. An individual who has seen the directive said Sunday that the Saudi Arabian Monetary Agency ordered banks to freeze transactions with Maan al-Samea.

May 19th, 2009 KOLKATA - Trinamool Congress chief Mamata Banerjee is game to talk to the Tatas if they want to speak to her on setting up the Nano plant in Singur, but said the auto major will have to return 400 acres of land acquired from farmers for the project. 'If the Tatas want to speak to us on Nano, I will talk.

April 1st, 2009 KOLKATA - West Bengal may have lost a chance to nurture world's least expensive car but there is a possibility of the project coming back to its original site Singrur if the makers Tata Motors decide so, a top official said here Wednesday. Principal Secretary (Industry) Sabyasachi Sen's comment followed news reports quoting him as saying that the Nano 'will definitely be made in West Bengal as the low-cost car needs at least four to five plants'.