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BRIDGESTONE TO CUT PRODUCTION, 800 JOBS AT US PLANT – JAPANESE TIREMAKER BRIDGESTONE SAID IT IS SHEDDING ABOUT 800 JOBS IN THE UNITED STATES TO COPE WITH WEAKER DEMAND

Posted by Gilmour Poincaree on January 23, 2009

Friday, January 23, 2009

Agence France-Presse

PUBLISHED BY ‘THE STANDARD’ (China – Hong Kong)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE STANDARD’ (China – Hong Kong)

Posted in AUTOMOTIVE INDUSTRY, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN WORK FORCE - LEGAL, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, INTERNATIONAL, JAPAN, NATIONAL WORK FORCES, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, TRANSPORT INDUSTRIES, UNEMPLOYMENT, USA | Leave a Comment »

OUR COLLAPSING ECONOMY – ACCORDING TO THE BUREAU OF LABOR STATISTICS, NONFARM PAYROLL EMPLOYMENT DECLINED BY 3,445,000 FROM DECEMBER 2007 THROUGH DECEMBER 2008 – THE COLLAPSE IN EMPLOYMENT IS ACROSS THE BOARD (USA)

Posted by Gilmour Poincaree on January 15, 2009

Tuesday, Jan 13, 2008

Paul Craig Roberts – Counterpunch

PUBLISHED BY ‘INFOWARS.NET’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘INFOWARS.NET’ (USA)

Posted in AUTOMOTIVE INDUSTRY, BANKING SYSTEM - USA, BANKING SYSTEMS, BANKRUPTCIES - USA, CENTRAL BANKS, COMMERCE, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, HOUSING CRISIS - USA, INDUSTRIAL PRODUCTION - USA, INDUSTRIES - USA, MACROECONOMY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, RESTRUCTURING OF THE PUBLIC SECTOR, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRANSPORT INDUSTRIES, UNEMPLOYMENT, USA | Leave a Comment »

HEATHROW’S THIRD RUNWAY TO FALL FOUL OF EU RULES – MINISTERS WILL GIVE A GREEN LIGHT TO THE AIRPORT’S EXTENSION, BUT CRITICS SAY EUROPE’S POLLUTION TARGETS COULD PREVENT IT FROM BEING BUILT (UK)

Posted by Gilmour Poincaree on January 12, 2009

Sunday, 11 January 2009

by Geoffrey Lean and Brian Brady

PUBLISHED BY ‘THE INDEPENDENT’ (UK)

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PUBLISHED BY ‘THE INDEPENDENT’ (UK)

Posted in AIR TRANSPORT INDUSTRY, BANKING SYSTEMS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIES, INTERNATIONAL, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES, UNITED KINGDOM | Leave a Comment »

ASIA THE PERFECT FIT FOR QANTAS – AFTER THE TERMINATION OF AN $8 BILLION MERGER PROPOSAL WITH BRITISH AIRWAYS LAST MONTH, SPECULATION HAS RESURFACED THAT QANTAS HAS TURNED ITS ATTENTION TO ASIA AND IS LOOKING INTO A TIE-UP WITH ASIA’S BIGGEST BUDGET AIRLINE, MALAYSIAN-BASED AIRASIA, OR MALAYSIA AIRLINES (Australia)

Posted by Gilmour Poincaree on January 10, 2009

January 10, 2009

by Adele Ferguson – The Australian

PUBLISHED BY ‘THE AUSTRALIAN’

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PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AIR TRANSPORT INDUSTRY, ASIA, AUSTRALIA, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, STOCK MARKETS, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

BOEING TO CUT 4500 JOBS – BOEING SAID TODAY IT WILL REDUCE ITS COMMERCIAL-AIRCRAFT WORK FORCE BY ABOUT 4500 EMPLOYEES BUT WILL MAINTAIN PRODUCTION RATES TO DELIVER A $US275 BILLION ($391 BILLION) BACKLOG

Posted by Gilmour Poincaree on January 10, 2009

January 10, 2009

by Ann Keeton – Kerry Grace contributed to this article – The Wall Street Journal

PUBLISHED BY ‘THE AUSTRALIAN’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE AUSTRALIAN’

Posted in AIR TRANSPORT INDUSTRY, BANKING SYSTEM - USA, BANKRUPTCIES - USA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN WORK FORCE - LEGAL, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, NATIONAL WORK FORCES, RECESSION, RESTRUCTURING OF PRIVATE COMPANIES, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE WORK MARKET, THE WORKERS, TRANSPORT INDUSTRIES, UNEMPLOYMENT, USA | Leave a Comment »

SAFETY FEARS PERSIST AS PORT AWAITS FIRST GAS TANKER (UK)

Posted by Gilmour Poincaree on January 10, 2009

Friday 9 January 2009

by Steven Morris – The Guardian

PUBLISHED BY ‘THE GUARDIAN’ (UK)

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PUBLISHED BY ‘THE GUARDIAN’ (UK)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY INDUSTRIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MARITIME, NATURAL GAS, RECESSION, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES, UNITED KINGDOM | Leave a Comment »

GOVERNO REABRE LICITAÇÃO PARA A NOVA MARGINAL (Brazil)

Posted by Gilmour Poincaree on January 7, 2009

07/01/2009 – 09h06

Folha Online

PUBLISHED BY ‘BOL’ (Brazil)

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PUBLISHED BY ‘BOL’ (Brazil)

Posted in BANKING SYSTEMS, BRASIL, CONSTRUCTION INDUSTRIES, DESENVOLVIMENTO SUSTENTÁVEL, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO ECONÔMICA, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FLUXO DE CAPITAIS, INDÚSTRIA DA CONSTRUÇÃO CIVIL, INDUSTRIAL PRODUCTION, INDUSTRIES, INFRAESTRUTURA - BRASIL, INTERNATIONAL, O SETOR DOS TRANSPORTES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, ROAD TRANSPORT, RODOVIAS, RODOVIÁRIO, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

TYCOON SET ON SELF-IMMOLATION IF LOAD-SHEDDING PERSISTS (Pakistan)

Posted by Gilmour Poincaree on January 3, 2009

Saturday, January 03, 2009

by our correspondent

PUBLISHED BY ‘THE NEWS’ (Pakistan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEWS’ (Pakistan)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, EMPLOYMENT, ENERGY, FINANCIAL CRISIS 2008/2009, FOREIGN WORK FORCE - LEGAL, GARMENT INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATIONAL WORK FORCES, PAKISTAN, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, RESTRUCTURING OF THE PUBLIC SECTOR, TEXTILE INDUSTRIES, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, TRANSPORT INDUSTRIES | Leave a Comment »

PALACE ORDERS COMPLETION OF 9 RAILWAY PROJECTS (Philipines)

Posted by Gilmour Poincaree on January 3, 2009

Saturday, January 3, 2009

by Genalyn D. Kabiling

PUBLISHED BY ‘THE MANILA BULLETIN’ (Philippines)

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PUBLISHED BY ‘THE MANILA BULLETIN’ (Philippines)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, PHILIPPINES, RAILWAY TRANSPORT, RECESSION, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

GOV’T SELLING FOOD TERMINAL THIS YEAR (Philippines)

Posted by Gilmour Poincaree on January 3, 2009

Saturday, January 3, 2009

by Lee C. Chipongian

PUBLISHED BY ‘THE MANILA BULLETIN’ (Philippines)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE MANILA BULLETIN’ (Philippines)

Posted in COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, INDUSTRIAL PRODUCTION, INTERNATIONAL, MACROECONOMY, PHILIPPINES, PUBLIC SECTOR AND STATE OWNED ENTERPRISES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF THE PUBLIC SECTOR, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

NZ AIRLINE JETLINER OPERATES PARTLY ON VEGETABLE OIL – JATROPHA: BOEING AND VIRGIN ATLANTIC CARRIED OUT A SIMILAR TEST FLIGHT THAT INCLUDED A BIOFUEL MIXTURE THAT WAS DISMISSED AS A PUBLICITY STUNT BY ENVIRONMENTALISTS

Posted by Gilmour Poincaree on December 31, 2008

Wednesday, Dec 31, 2008

Associated Press – Wellington

PUBLISHED BY ‘THE TAIPEI TIMES’ (Formosa – Taiwan)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE TAIPEI TIMES’ (Formosa – Taiwan)

Posted in AIR TRANSPORT INDUSTRY, BIOFUELS, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, ENVIRONMENT, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MACROECONOMY, NEW ZEALAND, O BIODIESEL, RECESSION, REFINERIES - PETROL/BIOFUELS, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES, VEGETABLE OILS | 1 Comment »

LIMINAR BARRA LIBERAÇÃO DE TARIFAS DE VÔO INTERNACIONAL – MEDIDA JÁ ESTÁ EM VIGOR DESDE 1º DE SETEMBRO EM VÔOS PARA PAÍSES DA AMÉRICA DO SUL (Brazil)

Posted by Gilmour Poincaree on December 30, 2008

30/12/2008 – 08h04min

Agência Brasil

PUBLISHED BY ‘ZERO HORA’ (Brazil)

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PUBLISHED BY ‘ZERO HORA’ (Brazil)

Posted in AÉREO, AIR TRANSPORT INDUSTRY, BRASIL, COMMERCE, COMMERCIAL PROTECTIONISM, COMMODITIES MARKET, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDÚSTRIAS, INDUSTRIES, INTERNATIONAL, O SETOR DOS TRANSPORTES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RESTRUCTURING OF PRIVATE COMPANIES, TRANSPORT INDUSTRIES | Leave a Comment »

FEDEX WILL DELAY TRIAD HUB, CUT HIRING (USA)

Posted by Gilmour Poincaree on December 28, 2008

Saturday, December 27, 2008, 9:54am EST

The Business Journal of the Greater Triad Area

PUBLISHED BY ‘THE BUSINESS JOURNAL’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE BUSINESS JOURNAL’ (USA)

Posted in BANKING SYSTEM - USA, BANKRUPTCIES - USA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, EMPLOYMENT, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FOREIGN WORK FORCE - LEGAL, INDUSTRIES - USA, NATIONAL WORK FORCES, RECESSION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, THE WORK MARKET, THE WORKERS, TRANSPORT INDUSTRIES, USA | Leave a Comment »

INDONESIA SAYS CHEVRON MAY INVEST $3 BILLION THERE

Posted by Gilmour Poincaree on December 27, 2008

Dec. 26, 2008, 6:05AM

Bloomberg News

PUBLISHED BY ‘THE HOUSTON CHRONICLE’ (USA)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE HOUSTON CHRONICLE’ (USA)

Posted in CHEMICALS (processed components), COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, ENERGY, ENERGY INDUSTRIES, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GASOLINE, INDONESIA, INDUSTRIAL PRODUCTION, INDUSTRIAL PRODUCTION - USA, INDUSTRIES, INDUSTRIES - USA, INTERNATIONAL, NATURAL GAS, PETROL, RECESSION, REFINERIES - PETROL/BIOFUELS, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRANSPORT INDUSTRIES, USA | Leave a Comment »

DELUGE OF BAD NEWS A FESTIVE TRADITION (New Zealand)

Posted by Gilmour Poincaree on December 26, 2008

4:00AM Saturday Dec 27, 2008

by Alanah May Eriksen

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MARITIME, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, SHIPYARD INDUSTRIES, STOCK MARKETS, THE FLOW OF INVESTMENTS, THE MEDIA (US AND FOREIGN), THE WORK MARKET, TRANSPORT INDUSTRIES | Leave a Comment »

ANAC NOTIFICA GOL PARA REDUZIR ATRASOS NOS VÔOS (Brazil)

Posted by Gilmour Poincaree on December 26, 2008

Santa Cruz do Sul – Ano 64 – quarta-feira, 24 de dezembro de 2008

por Ângela Rocha

PUBLISHED BY ‘GAZETA DO SUL’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘GAZETA DO SUL’ (Brazil)

Posted in AÉREO, AIR TRANSPORT INDUSTRY, BRASIL, CIDADANIA, DEFESA DO CONSUMIDOR - BRASIL, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIES, INTERNATIONAL, O PODER EXECUTIVO FEDERAL, O SETOR DOS TRANSPORTES, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, TRANSPORT INDUSTRIES | Leave a Comment »

U.S. REGULATORS APPROVE CN’S DEAL TO BUY EJ&E (Canada)

Posted by Gilmour Poincaree on December 25, 2008

Wednesday, December 24, 2008

Reuters

PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE FINANCIAL POST’ (Canada)

Posted in BANKING SYSTEMS, CANADA, ECONOMIC CONJUNCTURE, ECONOMY, ECONOMY - USA, FINANCIAL CRISIS - USA - 2008/2009, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES - USA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, RAILWAY TRANSPORT, RECESSION, THE FLOW OF INVESTMENTS, THE LAST DAYS OF GEORGE WALKER BUSH - 2008/Jan. 2009, TRANSPORT INDUSTRIES, USA | Leave a Comment »

DUPLICAÇÃO DA BR-408 TAMBÉM SERÁ INCLUÍDA NO PAC (Brazil)

Posted by Gilmour Poincaree on December 23, 2008

22/12/2008 – 19h46

Diário de Pernanbuco

PUBLISHED BY ‘DIÁRIO DE PERNAMBUCO’ (Brasil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘DIÁRIO DE PERNAMBUCO’ (Brasil)

Posted in A PRESIDÊNCIA, BRASIL, CIDADES, COMÉRCIO - BRASIL, CONSTRUCTION INDUSTRIES, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, EXPANSÃO ECONÔMICA, FINANCIAL CRISIS 2008/2009, FINANCIAL SERVICES INDUSTRIES, FLUXO DE CAPITAIS, INDÚSTRIA DA CONSTRUÇÃO CIVIL, INFRAESTRUTURA - BRASIL, INTERNATIONAL, LUIS INÁCIO LULA DA SILVA, MINISTÉRIO DOS TRANSPORTES, O PODER EXECUTIVO FEDERAL, O SETOR DOS TRANSPORTES, ORÇAMENTO NACIONAL - BRASIL, PROGRAMA DE ACELERAÇÃO DO CRESCIMENTO (PAC), RECESSION, ROAD TRANSPORT, RODOVIAS, RODOVIÁRIO, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

CONSELHO DO FGTS APROVA R$ 5 BILHÕES PARA INVESTIMENTOS EM INFRA-ESTRUTURA – Terminal no Porto de Santos e hidrelétrica de Santo Antônio estão entre projetos beneficiados (Brazil)

Posted by Gilmour Poincaree on December 21, 2008

20/12/2008 | 00h02min

CLIC RBS

PUBLISHED BY ‘ZERO HORA’ (Brazil)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘ZERO HORA’ (Brazil)

Posted in A PRESIDÊNCIA, A QUESTÃO ENERGÉTICA, BRASIL, CIDADES, ECONOMIA - BRASIL, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, ENERGY INDUSTRIES, EXPANSÃO ECONÔMICA, EXPANSÃO INDUSTRIAL, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FLUXO DE CAPITAIS, HIDRELÉTRICAS, INDUSTRIES, INFRAESTRUTURA - BRASIL, INTERNATIONAL, MACROECONOMY, MARÍTIMO, MARITIME, NATIONAL WORK FORCES, O SETOR DOS TRANSPORTES, PORTOS, PROGRAMA DE ACELERAÇÃO DO CRESCIMENTO (PAC), RECESSION, SHIPYARD INDUSTRIES, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

AfDB APPROVES U.S.$ 64 MILLION FOR THREE MAJOR ROAD PROJECTS IN GHANA

Posted by Gilmour Poincaree on December 19, 2008

16 December

2008

SPONSOR WIRE

PUBLISHED BY ‘ALL AFRICA’ (Mauritius)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘ALL AFRICA’ (Mauritius)

Posted in BANKING SYSTEMS, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, GHANA, INDUSTRIES, INTERNATIONAL, INTERNATIONAL ECONOMIC ORGANIZATIONS AND FORUMS, RECESSION, ROAD TRANSPORT, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

POWERSTAR IS ASCENDING

Posted by Gilmour Poincaree on December 17, 2008

12 Dec 2008

by Grainne Gilmore – Times Online

PUBLISHED BY ‘THE CAPE BUSINESS NEWS’ (South Africa)

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE CAPE BUSINESS NEWS’ (South Africa)

Posted in AUTOMOTIVE INDUSTRY, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MINING INDUSTRIES, RECESSION, ROAD TRANSPORT, SOUTH AFRICA, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

DIRECT FLIGHTS AND SHIPPING FORGE CHINA-TAIWAN LINKS

Posted by Gilmour Poincaree on December 17, 2008

4:00AM Tuesday Dec 16, 2008

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE NEW ZEALAND HERALD’

Posted in AIR TRANSPORT INDUSTRY, CHINA, COMMERCE, ECONOMY, FORMOSA - TAIWAN, INTERNATIONAL, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

INNOVATION IS THE KEY TO SUCCESS (South Africa)

Posted by Gilmour Poincaree on December 13, 2008

11 Dec 2008

PUBLISHED BY ‘THE BUSINESS NEWS’ (South Africa)

THIS year has been exceptional in that the export markets started on an unbelievably high level and thanks to a combination of factors, Capespan realised on average 43% higher payments to growers of deciduous fruit in the first couple of months this year, compared to the same period last year, while citrus was up 70%, according to group managing director Neil Oosthuizen.

But in an interview with CBN he sounded caution, indicating that recent developments on the world’s economic scene have brought their own uncertainties.

“It’s clear that consumers in most countries are taking financial strain and although we aim to keep prices low on the retailers’ shelves, sales may be strained as fruit products, especially grapes, are often viewed as a luxury”, Oosthuizen says.

Consumers will have less money to spend on expensive fruit. And because supermarkets will be fighting to retain shoppers and because fruit is often regarded a high profile item, they’ll want to show that they’re offering the lowest possible fruit prices.

It is for this reason that Capespan will continue to be innovative particularly so in specialised packaging and value added products. So for example Capespan has launched its new fresh-cut products.

In partnership with UK processors Orchard County Foods and Superior Foods, Capespan is meeting the need for convenient fruit snacks with a range of products under the CAPE label. These are Snack Bags (apple and grape) and Fruit Pots, a fruit medley and pineapple and grape.

Another innovation is individually sleeved CAPE fresh pineapple sticks, which were launched earlier this year as part of the British Airways long haul menu. So far feedback has been extremely positive, Oosthuizen says, with the demand currently 80 000 sticks a week, but this is forecast to increase to 100 000 sticks a week. It is now looking at increasing the range in the future with additional fruit products.

Capespan also launched its new Capespan Gold brand in the UK market to meet demand from its top-end global customers for fruit of exceptional quality. Customers range from independent retailers to catering and food service organisations supplying the UK’s boardrooms and airport business lounges.

It’s anticipated that once Capespan Gold grapes are established in the market, the brand will be extended to other fruit kinds. A simple, stylish livery has been developed for the brand.

He also notes the continuing trend for retailers to get closer and better understand producers. “As the middleman, we the exporters, acknowledge the growing importance of supply chain management services in supporting the marketing process. Continual pressure to cut costs and find the most effective routes will beef up supply chain management challenges further. Therefore we’ve examined ways to elevate our service delivery and offering to the highest levels”.

“This is essential in guaranteeing Cape-span’s exceptional services, featuring quality and innovation – factors which distinguish us from our competitors”, he says.

Of strategic importance is also securing Capespan’s fruit supply. To this end it has, through its associate company Rapiprop, purchased the 490 ha Applethwaite farm in the Grabouw area. “The purchase of this large apple, pear and plum production unit underscores Capespan’s continued focus on growth and development”, says Oosthuizen.

“Because the farm has been a Capespan supplier for more then 60 years, we know the business intimately”, he says.

With orchards covering 300 ha, Applethwaite annually exports 260 000 cartons of apples, 50 000 cartons of pears and 100 000 trays of plums. Apart from having its own pack house and cold stores, the farm was one of the first in the country to offer a creche, pre-school, clinic and church facilities to staff members. The company’s infrastructure is a producer’s dream. Plus, it was one of the pioneers in computerised quality control, according to Oosthuizen.

Rapiprop, a joint venture between Capespan, Total Produce plc and the Cape Empowerment Trust, owns and operates farms in South Africa. The organisation buys farms that are good investments, secures a strategic fruit supply and will plan an important empowerment role in future.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE BUSINESS NEWS’ (South Africa)

Posted in AGRICULTURE, AIR TRANSPORT INDUSTRY, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL SERVICES INDUSTRIES, FOOD INDUSTRIES, FOOD PRODUCTION (human), FRUITS AND FRESH VEGETABLES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, PAPER INDUSTRIES, RECESSION, SOUTH AFRICA, THE WORK MARKET, TRANSPORT INDUSTRIES, UNITED KINGDOM | Leave a Comment »

AIR FRANCE SEEKS PROBE INTO AUSTRIAN AIRLINES SALE

Posted by Gilmour Poincaree on December 12, 2008

Thursday, 12.11.08

Associated Press

PUBLISHED BY ‘THE MIAMI HERALD'(USA)

PARIS – Air France-KLM Group said Thursday it has lodged a complaint with the European Commission, accusing German rival Lufthansa of benefiting unfairly from state aid in its deal to acquire Austrian Airlines.

The French-Dutch carrier dropped out of the running for the Austrian carrier, while Lufthansa agreed last week to buy the Austrian government’s stake in the ailing national airline and offered to buy any outstanding shares.

Air France-KLM said in a statement it “strongly believes that the sale of Austrian Airlines to Lufthansa is not being conducted in the best interest of Austrian Airlines stakeholders and at a fair market price.”

The sale “entails state aid elements that need to be thoroughly investigated by the European Commission,” it said.

Under the agreement, the Austrian government will assume up to euro500 million of the carrier’s debt, which amounted to euro900 million as of last month. Air France-KLM said the deal doesn’t follow the instructions imposed on it during the bidding process.

Lufthansa said it was “convinced that the transaction agreed to last week on the acquisition of Austrian Airlines is in compliance with corresponding statutary requirements.”

Lufthansa also said that the Austrian state holding company had obtained legal opinion showing that the deal conformed to law.

The agreement signed by Lufthansa and officials of the Austrian government’s privatization agency gives the German carrier the state’s 41.56 percent share in Austrian Airlines.

That deal carries a price tag of euro366,000 ($465,000) but foresees additional payments of up to euro162 million depending on whether, and to what degree, Austrian turns profitable again.

Lufthansa has also offered to buy the rest of Austrian Airlines for euro4.44 per publicly held share.

Austria’s government decided in August to sell its share in the country’s flagship carrier. Air France-KLM and S7 of Russia had previously expressed an interest but then dropped out of the bidding.

CLICK HERE FOR THE ORIGINAL ARTICLE

PUBLISHED BY ‘THE MIAMI HERALD'(USA)

Posted in AIR TRANSPORT INDUSTRY, AUSTRIA, BANKING SYSTEMS, CENTRAL BANKS, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, FRANCE, GERMANY, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, RUSSIA, STOCK MARKETS, THE EUROPEAN UNION, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

ROCCO SABELLI PRESENTA LA NUOVA ALITALIA

Posted by Gilmour Poincaree on December 12, 2008

12/12/2008

Amerigo Francia – Milano Finanza

PUBLISHED BY ‘MILANO FINANZA’ (Italy)

La nuova Alitalia non aumenterà i prezzi e non ridurrà l’offerta di voli. Lo ha assicurato l’amministratore delegato di Cai, Rocco ROCCO SABELLISabelli, nella conferenza stampa per la presentazione del closing della vendita di Alitalia a Cai. “Non abbiamo in programma di aumentare i prezzi o ridurre l’offerta, anche sulle rotte dove abbiamo il 100% del mercato”, ha affermato Sabelli illustrando i punti principali del piano industriale.

L’obiettivo, spiega il braccio destro di Colaninno, “mira a ottenere il 56% del mercato interno nel 2009 rispetto all’attuale 30%. Una quota che ci farà tornare in Europa, visto che Air France ha il 91%, Lufthansa il 53%, Turkish Airlines il 43% e Iberia 39%. Puntiamo inoltre ad avere una flotta più moderna ed efficiente: nel 2009 l’età media dei nostri aerei sarà 8,6 anni, mentre attualmente è di 12,4 anni”.

Nel piano industriale, ha spiegato Sabelli, una forte attenzione è legata alla creazione di un network completo ed efficiente focalizzato su medio e lungo raggio. “Non si può fare una compagnia grande quanto si vuole, ma grande quanto si deve. Dico un’ovvietà”, ha osservato Sabelli, “ma è meglio avere meno aerei ma più pieni che tanti aerei mezzi vuoti. Il piano industriale parte dall’esame della struttura della domanda e dalle dimensioni del mercato, e punta a creare un leader forte sul mercato domestico. L’integrazione con Air One va in questa direzione e ci fornisce densità, dimensione e sinergie”.

Per la capitalizzazione della nuova Alitalia il manager conta sui 1.100 milioni, che era il target iniziale, e sul contributo del partner straniero. L’aumento di capitale avverrà in due tranche: per 850 mln dai 21 soci attuali, ai quali “non escludiamo se ne aggiungano altri”, mentre la restante parte avverrà in un secondo momento “per garantire la struttura finanziaria”.

Riguardo invece al partner industriale con la nuova Alitalia, l’ad di Cai ha confermato che “La scelta del partner straniero sarà tra Lufthansa e Air France”, precisando che da parte di entrambe le compagnie è stata avanzata la proposta di partenariato industriale come la disponibilità a investire in equity. La proposta di British Airways era invece “di natura solo commerciale”, ha spiegato Sabelli. Il manager ha quindi detto che “noi privilegiamo le prime due e crediamo che un ingresso nell’equity possa rafforzare la compagnia”. Parlando di Lufthansa e Air France, Sabelli ha detto che si tratta di “due proposte molto buone, duole lasciarne fuori una. Sceglieremo la proposta migliore”.

In ultimo, stamattina è partito il processo di assunzioni. “Siamo assolutamente tranquilli sulla trasparenza dei criteri concordati”. Le proposte di assunzione saranno dirette a “quasi 9mila persone, ci aspettiamo una risposta entro 48 ore”. Per quanto riguarda il rapporto con i sindacati, Sabelli ha detto di aver avuto con i sindacati confederali “una trattativa molto dura, ma comunque negoziale”, mentre con le associazioni professionali c’è stato “il rifiuto di cedere il controllo della compagnia”. Per questo, “da oggi il dialogo va direttamente ai nostri dipendenti”, ha concluso Sabelli.

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PUBLISHED BY ‘MILANO FINANZA’ (Italy)

Posted in AIR TRANSPORT INDUSTRY, BANKING SYSTEMS, COMMERCE, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, FRANCE, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, ITALY, NETHERLANDS, RECESSION, REGULATIONS AND BUSINESS TRANSPARENCY, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES, TURKEY, UNITED KINGDOM | Leave a Comment »

PARA CONSTRUIR EDIFICIO PARA PROYECTO DE LEARJET 85, BOMBARDIER INVERTIRÁ US250 MILLONES EN QUERÉTARO PARA PROYECTO LEARJET (Mexico)

Posted by Gilmour Poincaree on December 12, 2008

11 Diciembre, 2008 – 19:44

APR

PUBLISHED BY ‘EL ECONOMISTA’ (Mexico)

El vicepresidente de Operaciones Bombardier Aerospace México, Réal Gervais, informó que durante la primera mitad del
próximo año, iniciará la construcción de un edificio para el proyecto Learjet 85.

El proyecto contempla una inversión por 250 millones de dólares, generará entre 600 y 700 nuevos empleos y se ubicará en el parque Aeroespacial en el municipio de El marqués.

Aclaró que este Learjet es diferente a los modelos que recientemente tuvieron problemas y causaron los accidentes aéreos; la nueva inversión complementa los 200 millones de dólares que se anunciaron con la llegada de esta empresa a Querétaro en octubre del 2005.

‘El proyecto Learjet 85 es muy importante para Bombardier, es totalmente nuevo para la empresa, es un avión totalmente nuevo de hecho, es muy importante también porque utiliza la última tecnología a partir de materiales compuestos para la elaboración de fuselaje y otras piezas, es totalmente distinto a los otros modelos Lear’, dijo.

La manufactura de la estructura de materiales compuestos de Learjet se realizará en la entidad y la terminación de interiores, los vuelos de prueba y la entrega final al cliente se llevarán a cabo en Estados Unidos.

Réal Gervais indicó que la empresa es muy cuidadosa con las inversiones frente a las condiciones económicas que se esperan para el próximo año, por lo que extremará la vigilancia ‘sobre todo en el primer cuarto del 2009’.

Hasta el momento no hay afectaciones, toda vez que el registro de órdenes de compra de Bombardier asciende a 26.1 millones de dólares y no hay cancelaciones extraordinarias de trabajo.

La empresa espera que para el 2010 se llegue a 2,000 empleados, toda vez que ahora se cuenta con 1,200 trabajadores de los que 150 son del área administrativa.

‘Los planes de la empresa no han cambiado en términos de lo que se está produciendo en Querétaro y actualmente 500 personas se dedican a la parte de ensambles de arneses eléctricos y más de 500 personas están dedicadas al ensamble de diferentes componentes estructurales’, detalló.

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PUBLISHED BY ‘EL ECONOMISTA’ (Mexico)

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QATAR LOOKS TO GROW FOOD IN KENYA -THE GULF STATE HAS JOINED A GROWING LIST OF RICH COUNTRIES THAT WANT TO GROW FOOD IN POOR COUNTRIES

Posted by Gilmour Poincaree on December 5, 2008

Tuesday December 2 2008 16.58 GMT

Xan Rice in Nairobi – guardian.co.uk

PUBLISHED BY ‘THE GUARDIAN’ (UK)

Qatar has asked Kenya to lease it 40,000 hectares of land to grow crops as part of a proposed package that would also see the Gulf state fund a new £2.4bn port on the popular tourist island of Lamu off the east African country.

The deal is the latest example of wealthy countries and companies trying to secure food supplies from the developing world.

Other Gulf states, including Saudi Arabia and the United Arab Emirates, have also been negotiating leases of large tracts of farmland in countries such as Sudan and Senegal since the global food shortages and price rises earlier this year.

The Kenyan president, Mwai Kibaki, returned from a visit to Qatar on Monday. His spokesman said the request for land in the Tana river delta, south of Lamu, in north-east Kenya was being seriously considered.

“Nothing comes for free,” said Isaiah Kabira. “If you want people to invest in your country then you have to make concessions.”

But the deal is likely to cause concern in Kenya where fertile land is unequally distributed. Several prominent political families own huge tracts of farmland, while millions of people live in densely packed slums.

The country is also experiencing a food crisis, with the government forced to introduce subsidies and price controls on maize this week after poor production and planning caused the price of the staple “ugali” flour to double in less than a year.

Kibaki said that Qatari Emir Sheikh Hamad bin Khalifa al-Thani was keen to invest in a second port to complement Mombasa, which serves as a gateway for goods bound for Uganda and Rwanda and is struggling to cope with the large volumes of cargo.

By building docks in Lamu, Kenya hopes to open a new trade corridor that will give landlocked Ethiopia and the autonomous region of Southern Sudan access to the Indian Ocean. Kabira said that if the financing was agreed, construction of the port would begin in 2010.

Qatar, which has large oil and gas revenues, imports most of its food, as most of its land is barren desert and just 1% is suitable for arable farming. It has already reportedly struck deals this year to grow rice in Cambodia, maize and wheat in Sudan and vegetables in Vietnam.

Much of the produce will be exported to the Gulf. Qatar’s foreign ministry in Doha did not return calls today, but Kabira said that its intention was to grow “vegetables and fruit” in Kenya.

The area proposed for the farming project is near the Tana river delta where the Kenyan government owns nearly 500,000 hectares (1.3m acres) of uncultivated land.

But a separate agreement to allow a local company to grow sugarcane and build a factory in the area has attracted fierce opposition from environmentalists who say a pristine ecosystem of mangrove swamps, savannah and forests will be destroyed.

Pastoralists, who regard the land as communal and rear up to 60,000 cattle to graze in the delta each dry season, are also opposed to the plan.

“We will have to ensure that this new project is properly explained to the people before it can go ahead,” said Kabira.

The sudden rush by foreign governments and companies to secure food supplies in Africa has some experts worried. Jacques Diouf, director general of the UN’s food and agricultural organisation (FAO), recently spoke of the risk of a “neo-colonial” agricultural system emerging.

The FAO said some of the first overseas projects by Gulf companies in Sudan, where more than 5 million people receive international food aid, showed limited local benefits, with much of the specialist labour and farming inputs imported.

A deal struck last month by Daewoo Logistics and Madagascar to grow crops on 1.3m hectares of land also attracted strong criticism. While the South Korean firm has promised to provide local jobs and will have to invest in building roads and farming infrastructure, it is paying no upfront fee and has a 99-year lease.

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PUBLISHED BY ‘THE GUARDIAN’ (UK)

Posted in 'DOHA TALKS', AGRICULTURE, BANKING SYSTEMS, COMMERCE, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, ENVIRONMENT, FARMING SUBSIDIES, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOOD PRODUCTION (human), FOREIGN POLICIES, FRUITS AND FRESH VEGETABLES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, KENYA, MACROECONOMY, NATIONAL WORK FORCES, QATAR, REGULATIONS AND BUSINESS TRANSPARENCY, ROAD TRANSPORT, SOUTH KOREA, THE ARABIAN PENINSULA, THE FLOW OF INVESTMENTS, THE UNITED NATIONS, THE WORK MARKET, THE WORKERS, TRANSPORT INDUSTRIES, WATER | Leave a Comment »

SA FIRM TRAINS ITS EYES ON BAY‘S FUTURE (South Africa)

Posted by Gilmour Poincaree on December 4, 2008

PORT ELIZABETH – Thursday December 4, 2008

THE HERALD BUSINESS STAFF

PUBLISHED BY ‘THE HERALD ON LINE’ (South Africa)

A NATIONAL company is expanding its training facilities and courses in Mandela Bay in a move to boost skills across a wide spectrum, from basic literacy to the building industry and management development.

Training Force branch manager Jaco van Rooyen said the operation – part of the major Workforce labour brokering and training group – was expanding to meet a forecast increased demand from various types of industries.

“Despite present conditions, we believe the Eastern Cape region will continue to grow at a swift rate and that there will be a high demand for training,” said Van Rooyen.

“This is the sixth permanent training facility we have set up in major centres throughout the country, and we also have two smaller operations,” he added.

Training would include on-site courses and training sessions as well as centralised training at the company‘s new premises in Walmer, Port Elizabeth.

Areas of speciality included transport, construction, management and adult basic education.

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PUBLISHED BY ‘THE HERALD ON LINE’ (South Africa)

Posted in CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, EDUCATION, FINANCIAL SERVICES INDUSTRIES, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, NATIONAL WORK FORCES, SOUTH AFRICA, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, TRANSPORT INDUSTRIES | Leave a Comment »

JAZEERA AIRWAYS WITNESSES RAPID EXPANSION

Posted by Gilmour Poincaree on November 29, 2008

Published: November 27, 2008, 23:27

PUBLISHED BY ‘GULF NEWS’ (Dubai)

by Nadia Saleem, Staff Reporter

Dubai: Jazeera JAZEERA AIRWAYSAirways, a Kuwait-based airline launched in 2004, is witnessing rapid expansion despite the rest of the world suffering a liquidity crunch and the aviation business running into turbulence worldwide.

The only Gulf airline that uses two Gulf airports as hubs – Dubai and Kuwait City – has more than doubled its capital in the past three years to $77 million.

In 2005, the airline carried 39,000 passengers and is now at 1.2 million, with ambitious aims to boost that figure to 8.5 million in four years. The company’s profits at the end of 2007 were $8.4 million.

The airline is set to become one of the largest operators of A320 aircraft in the coming years as it plans to add 36 planes by 2012 and to fly to 59 new destination in and around the Middle East.

The airline has carried 665,000 passengers to Dubai, who have spent $180 million (Dh662 million) on hotels and transport.

Earlier this week in Dubai, the airline added its seventh aircraft to its fleet. Jazeera’s new acquisition marks the first time a non-UAE carrier has taken delivery of an aircraft in Dubai.

Jazeera’s chairman and chief executive officer Marwan Boodai recently spoke to Gulf News in an exclusive interview. Excerpts:

Gulf News: What has been the impact of the credit crisis on your expansion plans?

Marwan Boodai: We in the Middle East are completely immune to the international credit crisis but in general, the GCC [Gulf Co-operation Council] in particular, our governments and our economies are based on solid ground. We are oil-driven economies, so that will help us to weather these big storms.

As far as Jazeera Airways is concerned, our business model is based is connecting the dots within the Middle East. So in a way, we are not affected by international traffic. So far, and with our forecast, there is no slowdown within the Middle East. People are going back and forth within the region for business, or leisure or going back home. So that is the domain we are focusing on.

What is the significance of the airline being a low cost carrier at this time?

We chose a model to provide value for money. So passengers will be travelling more frequently. That is how we discriminate the market.

By consolidating our fleet and stabilising it with only one model, the A320, we have reduced out costs by a large amount, which we pass on to our passengers. In the current economic situation, more and more people are cautious of what they spend. Yet they need to travel because it is not more a luxury, it is a necessity.

What they are looking at is should they travel on luxury carriers or airlines with affordable prices, like ours.

With the dropping oil prices, what ripple effects is your airline witnessing in terms of costs and number of passengers?

The sharp drop helps the airline industry in general and our model in particular because fuel cost is almost one third of what we used to pay a month ago. That helps to boost our balancesheet. We managed to run the business profitably when the oil was at Dh140. With the prices now dropping, we will be able to add a lot more passengers.

Have the prices impacted your expansion plans?

Not really. Because our main focus in acquisition is just growing integrally year-by-year. This growth has always been there. Any airline that stands for acquisition of aircraft has to be affected by the market’s ability to extend financing. Jazeera has been running on a solid financial footing.

Not only have we managed to create a sister company called Sahaab Leasing to support this growth, but international banks have once again, at this very critical junction, reaffirmed their vote of confidence and extended even more financing to us. And we haven’t even tapped the market in the Middle East for financing.

Will you need to do so in future?

We are now looking at competitive financing. Cash is available worldwide and particularly in the GCC countries. We are looking for more innovative and cost-effective ways of financing. The GCC is going to be our focus for that.

In line with that direction, do you plans to be listed on the financial markets in the UAE?

Our original plan was to be listed on the Kuwait Stock Exchange because we are a Kuwaiti-based company. The plan was to be listed in Dubai’s market in the fourth quarter of this year. Now with the international turmoil, we don’t think it is the right time to jump into a second listing. We are going to watching the market very closely and carefully. But there is no doubt in our minds that one day we will be listed on Dubai stock exchange.

What is the time frame for that? Is it totally dependant on how the market performs?

Exactly. It’s really not in our control. However, we believe that this market is going to have a boost. Dubai’s economy is solid. If you look at the airline stocks worldwide, even in the states, in the last couple of weeks, the best performers were airline stocks. We don’t have many airline stocks in the Middle East; there is only a handful. Dubai stock exchange is very appealing, because being listed here will give us international exposure.

How is flyDubai, the emirate’s first low-cost carrier, going to affect you?

I don’t want to just say that the market is big. But flyDubai is targeting a different segment. With 737s, high density, etc, it is a totally different market from what we are serving. They are more focussed on the Indian subcontinent and labour traffic. We are more focused on the middle-class group, on families and business travel. We feel that business travellers will be increasingly choosing Jazeera, rather than the high-end of the market.

Is there any change that you are witnessing from the government of Dubai on this?

Not really. Dubai is so open. If you look at other airports, other markets in the world.

Here for instance, one city cannot survive with one airline. There has to be competition, more airlines that add value to the economy. Dubai government realises that very well. And that is why we are here today.

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PUBLISHED BY ‘GULF NEWS’ (Dubai)

Posted in AIR TRANSPORT INDUSTRY, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, RECESSION, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

ECONOMY GROWS BY 7.6% IN Q2 (India)

Posted by Gilmour Poincaree on November 28, 2008

Saturday, 29 November 2008

PUBLISHED BY ‘THE STATESMAN’ (India)

SNS & PTI

NEW DELHI, Nov. 28: Powered by construction and services, the Indian economy notched a reasonable growth rate of 7.6 per cent in the second quarter of the current fiscal.

However, experts said the latest numbers do not mean that the global financial crisis would not impact India in a big way. “We would see moderation in the second half (October-March 2009) as momentum in services sector will peter out especially in transport and hotels,” said Mr DK Joshi, economist with Crisil, a ratings and advisory firm. He now expects the Indian economy to post a growth rate of 6- 6.5 per cent in the second half of current fiscal.

Though quarterly GDP growth was the lowest since the last quarter of 2004, it was better than expected by many analysts, despite poor growth in manufacturing, agriculture and mining.

The Prime Minister’s economic panel member M Govinda Rao said: “It is better than expected, but in the second half there will be definitely a slowdown in manufacturing and services. I expect overall GDP figure to be at seven per cent this fiscal.”
Compared with the year-ago period, the Indian economy seemed to be slowing as the growth was 9.3 per cent in the second quarter of the previous fiscal, but it was expected to moderate as a consequence of the global financial crisis and other domestic factors.

For the first half of this fiscal, the economy expanded at 7.8 per cent, compared with the 9.3 per cent last fiscal. This is much in line with official expectations of 7-8 per cent growth for this fiscal, but quite higher than projected by many others.
Construction grew at 9.7 per cent, which is fairly good, even though it is slower than the 11.8 per cent in the corresponding period of the previous year.

All major segments in the services sector recorded high growth, though slower than in the second quarter of the fiscal 2007-08.

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PUBLISHED BY ‘THE STATESMAN’ (India)

Posted in AGRICULTURE, COMMODITIES MARKET, CONSTRUCTION INDUSTRIES, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FINANCIAL SERVICES INDUSTRIES, INDIA, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, MINING INDUSTRIES, NATIONAL WORK FORCES, RECESSION, THE WORK MARKET, TRANSPORT INDUSTRIES | Leave a Comment »

CHINA SIGNS GREEK PORT DEAL

Posted by Gilmour Poincaree on November 27, 2008

Nov 26, 2008 6:38 AM

Chinese President Hu Jintao vowed to increase maritime investment in GREEK PROTESTERS - ReutersGreece after the signing of a 3.4 billion euro deal to run the country’s largest port, despite protests from dockers.

Hu and Greek Prime Minister Costas Karamanlis witnessed the signing of the contract by state-controlled China Ocean Shipping Company (Cosco) to operate the container port of Piraeus (OLP) for 35 years, part of Greece’s privatisation agenda.

“Our priorities are to widen our economic cooperation … to strengthen maritime cooperation and investments,” the Chinese leader told journalists, during a three-day state visit.

Greece controls one fifth of the world’s merchant fleet. Its ship owners have profited from a huge boom in demand for iron ore, oil and grain from China in recent years, and they are the largest clients for Chinese shipbuilding yards.

Until a collapse in freight rates earlier this year, the boom helped Greece’s economy grow by 4% a year for a decade.

“The agreement between OLP and Cosco signals a new important chapter,” said Greek Prime Minister Costas Karamanlis. “Greek ports can become transit points for Chinese goods to the EU and southeast Europe, as well as the Mediterranean.”

Several hundred dockworkers, carrying a banner reading “Cosco Go Home” and waving black flags, marched past the Greek parliament before the signing, saying the deal would mean job losses and tougher labour conditions.

“They must not sell the ports. OLP is a profitable business … it doesn’t make sense,” said Manolis Gemeliaris, 54, an engineer at the port. “When Cosco comes, we will lose our jobs.”

The Chinese company has insisted that it will create 1,000 new jobs at the port for Greek workers and more than double its capacity by 2015.

Hu, who toured the ancient temples of the Acropolis in central Athens with his wife, has insisted during his visit that China’s economy is still experiencing “significant growth” and he would cooperate with international efforts to tackle the global economic downturn.

However, the World Bank said in a report published Tuesday that China’s economic growth would slow to 7.5% next year, its lowest rate since 1990, despite a 4 trillion yuan ($US586 billion) stimulus package.

Despite the opposition of Greece’s restive unions, the conservative government is pressing ahead with privatisations and has put loss-making Olympic Airlines on the block.

The ruling New Democracy party, whose parliamentary majority was cut to one seat this month by the expulsion of a rebel deputy, has fallen behind in opinion polls for the first time since winning power in 2004 amid discontent at its economic policies. Many analysts expect an early election next year, ahead of a 2011 deadline.

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PUBLISHED BY ‘TVNZ’ (New Zealand)

Posted in CHINA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, GRAINS, GREECE, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, IRON ORE, MARITIME, NATIONAL WORK FORCES, PETROL, SHIPYARD INDUSTRIES, THE FLOW OF INVESTMENTS, THE WORK MARKET, THE WORKERS, TRANSPORT INDUSTRIES, WORLD BANK | Leave a Comment »

AFRICA’S CHINESE CONNECTION AND THE DOWNTURN (South Africa)

Posted by Gilmour Poincaree on November 27, 2008

Posted to the web on: 27 November 2008

by Greg Mills – (*)

YOU know that it’s a globalised world when the man in front of you on the flight from Hong Kong THE GREAT WALLto Beijing starts a conversation, across several rows of seats, about the fast-bowling merits of Dale Steyn versus those of Morne Morkel — in Afrikaans.

Yet this very phenomenon — of an increasingly integrated world of trade, technology, skills and capital — is not only seen to be under threat due to the global economic crisis, but in the eyes of some is the cause of the crisis.

But that’s not how China sees things, in spite of some loss of export markets because of the credit crunch.

The formula for global economic growth has, over the past two decades , in simple terms, comprised western consumption of cheap Asian goods fuelled by access to cheap credit produced in turn by high Asian savings.

The cheapness of Asian goods relates to their productivity, which is related once again to the number of workers that are joining the global economy — 20-million annually from China’s rural to urban areas, at the last estimate.

Once in the cities they produce (up to three times) more and save more.

The downturn in demand for manufactured goods is likely to hit China hard — just as it has depressed commodity prices, the third leg of the western consumption-Asian thrift formula.

The supply of African oil and minerals has driven up continental growth rates, of course, and radically changed the level of external interest in African affairs.

China has been in part responsible for “globalising” Africa.

In doing so, it has certainly shown African prospects in a different light to the one shone by western firms and governments.

This relationship is represented in a plethora of statistics: In 1980, China’s share of world trade was less than 1%. By 2003 it had risen to 6%, where exports make up one-third of China’s gross domestic product. In 1980 China’s exports were worth less than $20bn. Last year, they exceeded $1-trillion. Such trade largely involves China’s processing of raw materials and the assembly of parts.

China’s trade with Africa has dramatically increased from $11bn in 2000 to $56bn in 2006 and $73bn last year, much of the increase due to oil.

Beijing has an African trade target of $100bn by 2010.

The second-largest global energy importer behind the US, China imported more than 6-million barrels of oil per day in 2006. This figure is expected to double in the next 15 years.

With only half of its energy needs now supplied by domestic sources, Angola has become China’s largest suppler of oil, while Sudan and Nigeria are important investment partners.

China today receives about one-third of its oil imports from Africa, comprising just less than 10% of the continent’s total oil exports. By comparison, the US purchased one-third of a percent of Africa’s total oil exports in 2006.

By 2006, more than 800 Chinese state-owned enterprises were active in Africa, with Chinese firms investing more than $6bn in 900 projects. The following year, China invested $4,5bn in African infrastructure projects alone.

Yet current figures put the downturn in manufacturing order books by more than 50% worldwide. China’s third-quarter growth has dipped to 9% from 12% last year. A loss of markets and growth, potentially compounded by rising labour costs depressing productivity, is a spectre that no Chinese politician fancies.

Beijing believes it will cope with the credit crisis by focusing on substituting its internal market for those lost overseas. Hence the announcement of a $586bn infrastructure stimulus package.

For example, the Chinese government has committed, in the short-term, an extra R1-trillion to railway infrastructure. That will buy a lot of steel, and much else, at current prices.

For this reason, for the moment, China aims to continue with its strategy to secure raw materials from Africa at source, in so doing managing the prospect of input price inflation.

This offers further prospects to African businesses with an appetite for partnership in exploiting the long-term trend of increasing global flows of capital to emerging markets.

But despite its strategy to beef up internal demand, China retains a big stake in globalisation.

Without sizeable external markets it cannot provide for its citizens, with all the economic fallout and political instability that would denote.

For experience teaches that large numbers of job seekers cannot be absorbed by government, or to satisfy local demand. For China, as in Africa, if they cannot find a place for themselves in the global economy, many will not be able to find a place at all.

(*) – Dr Mills heads the Brenthurst Foundation and has been researching in China.

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PUBLISHED BY ‘BUSINESS DAY’ (South Africa)

Posted in CENTRAL BANKS, CHINA, COMMERCE, COMMODITIES MARKET, ECONOMIC CONJUNCTURE, ECONOMY, ENERGY, FINANCIAL CRISIS 2008/2009, FINANCIAL MARKETS, FOREIGN POLICIES, FUELS, INDUSTRIAL PRODUCTION, INDUSTRIES, INTERNATIONAL, INTERNATIONAL RELATIONS, MACROECONOMY, METALS, METALS INDUSTRY, MINING INDUSTRIES, PETROL, RAILWAY TRANSPORT, RECESSION, SOUTH AFRICA, THE FLOW OF INVESTMENTS, TRANSPORT INDUSTRIES | Leave a Comment »

CHINA SHARES UP AS ROAD-BUILDING PLANS REVEALED

Posted by Gilmour Poincaree on November 27, 2008

Published: Nov 26, 2008 03:44 AM

The Associated Press

SHANGHAI, China – China’s shares edged up Wednesday for the first time in five sessions, led by In July 7, 2008 photo, an investor looks at a stock price board at a private securities' company in Shanghai, China. Chinese shares fell sharply Friday, Aug. 8, 2008, on heavy selling of airlines and other market heavyweights, as investors and analysts puzzled over why expectations of a rally linked to the Beijing Olympic games never materialized. The benchmark Shanghai Composite Index sank 4.5 percent, or 122.81 points, to 2,605.16. The Shenzhen Composite Index of China's smaller, second market dropped 5.6 percent to 74transportation and steel stocks after the government announced road-building plans under a stimulus package.

The benchmark Shanghai Composite Index ended up 0.5 percent, or 9.17 points, to close at 1897.88. The Shenzhen Composite Index for China’s smaller second exchange rose 0.6 percent to 535 points.

Trading was thin, reflecting the market’s search for direction after a rally – prompted by Beijing’s Nov. 9 announcement of its stimulus package – faded, analysts said.

“If the policies become clearer, the euphoria could continue,” said Huang Xiangbin, an analyst for Cinda Securities.

Stocks in toll road operators and steel makers rose after the Ministry of Transport said it would spend 1 trillion yuan ($146 billion) on building highways and rural roads as part of the stimulus.

The package is meant to help shield China from the global downturn by pumping money into the economy through higher spending on construction, tax cuts and aid to the poor.

Guangxi Wuzhou Communications Ltd. advanced by the daily limit of 10 percent to 4.62 yuan, while Jiangxi Ganyue Expressway Co. jumped 2.9 percent to 8.15 yuan.

Steel stocks rose after iron ore supplier BHP Billiton Ltd. dropped its bid for rival Rio Tinto Group, which eased concerns that a tie-up would give the mining group too much leverage to raise prices.

Baoshan Iron & Steel Ltd., China’s biggest steel maker, gained 3.9 percent to 5.02 yuan. Anshan Iron and Steel Group rose 6 percent to 7.1 yuan.

Real estate stocks rose on expectations of a possible interest rate cut, despite comments by a central bank deputy governor who said the current level is appropriate.

China Vanke Ltd., the country’s biggest developer, climbed 3.7 percent to 6.8 yuan, and rival Poly Real Estate Group rose 2.6 percent to 17.38 yuan.

In currency markets, China’s yuan weakened to 6.8282 to the U.S. dollar in over-the-counter trading around 0800 GMT, down from Tuesday’s close of 6.8220.

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CHINA TO INVEST $18 BLN IN 2ND RAILWAY FOR XINJIANG

Posted by Gilmour Poincaree on November 26, 2008

UPDATED: November-26-2008

Construction is expected to begin next year, with investment from the central and local governments and other sources

China will spend 120 billion yuan (17.6 billion U.S. dollars) to build a second railway linking the northwestern Xinjiang Uygur Autonomous Region with inland cities, according to information from a meeting of the Xinjiang committee of the Communist Party of China on Tuesday.

Construction is expected to begin next year, with investment from the central and local governments and other sources.

The new line will be parallel to the existing Lanxin Railway linking Gansu, Qinghai and Xinjiang. Only passenger trains will run on it.

When the new line is completed, the old Lanxin railway, running1,892 kilometers, will be used by cargo trains only.

Xinjiang, a vast region in China’s far west, boasts rich oil, coal and other resources and is the country’s major cotton producer. Lanxin is currently the only railway linking Xinjiang and other parts of China.

Railway officials said the new rail line will break the bottleneck of transport for Xinjiang in its economic development, ease the pressure on the Euro-Asian continental bridge and facilitate exchanges between China and its west neighbors.

Another 100 billion yuan would be injected to improve Xinjiang’s highway network between 2009 and 2013, according to information from the meeting.

(Xinhua News Agency)

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ENTIDADE PEDE BLOQUEIO MILITAR CONTRA PIRATAS SOMALIS

Posted by Gilmour Poincaree on November 24, 2008

segunda-feira, 24 de novembro de 2008

Uma entidade internacional de donos de cargueiros pediu hoje um bloqueio militar na costa da
Somália para interceptar barcos piratas que se dirigem para alto mar. Peter Swift, diretor-gerente da International Association of Independent Tanker Owners, disse que uma ação naval mais forte – incluindo apoio aéreo – é necessária para combater a pirataria no Golfo de Áden, perto da Somália. Circulam pela área cerca de 20 cargueiros diariamente.

Muitas empresas estão considerando fazer uma enorme volta pelo sul da África para evitar os piratas. Isso aumentaria os custos em 30% e atrasaria as entregas. Os membros da associação concentram 75% da frota mundial de cargueiros. A entidade se opõe às propostas para dotar de armas as tripulações dos navios mercantes, pois isso poderia aumentar a violência e colocar em perigo os empregados, segundo Swift. “A outra opção é fazer um bloqueio junto à Somália e lançar a idéia de interceptar os navios que partem da Somália, em vez de proteger todo o Golfo de Áden”, apontou Swift.

Um bloqueio na costa somali de 3,9 mil quilômetros “não é fácil, mas alguma intervenção pode ser efetiva”, afirma o representante dos donos de cargueiros. A Organização do Tratado do Atlântico Norte (Otan) mantém quatro navios de combate na costa da Somália, nação assolada por uma insurgência islâmica, sem governo de fato desde 1991. Os Estados Unidos contribuem com o patrulhamento, que também conta com embarcações da Rússia, Índia, Malásia e Dinamarca. As Marinhas, no entanto, afirmam que é virtualmente impossível patrulhar o vasto mar ao redor do golfo.

Os piratas somalis ampliaram seus ataques, tomando oito embarcações nas duas últimas semanas. Entre elas, um superpetroleiro saudita, com carga avaliada em US$ 100 milhões. Houve até agora neste ano 95 ataques piratas em águas somalis, com 39 embarcações capturadas. Quinze navios, com cerca de 300 tripulantes, ainda estão nas mãos dos piratas.

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GOODYEAR TO STOP PRODUCTION FOR ONE WEEK (Luxembourg)

Posted by Gilmour Poincaree on November 22, 2008

21-NOV-08

GOODYEAR Goodyear in Colmar-Berg have announced that they will stop CHARLES GOODYEARproduction of truck tyres for next week, according to local media reports.

It is understood that the decision was taken due to a slump in the demand for truck tyres as fewer trucks are being purchased.

The new follows recent stoppages of production at week-ends.

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AMR, UAL STRUGGLE TO SELL IDLE JETS AS MARKET SLIDES (UPDATE1)

Posted by Gilmour Poincaree on November 19, 2008

Last Updated: November 18, 2008 14:53 EST

AMR, UAL Struggle to Sell Idle Jets as Market Slides (Update1)

by Mary Schlangenstein

Nov. 18 (Bloomberg) – American Airlines, United Airlines and Continental Airlines Inc., stung bloomberg_american_airlines_1811200.gif picture by gilmourpoincareeby fuel costs and a drop in traffic, face a new challenge: what to do with planes valued at $2 billion now idled or set to be grounded through 2009.

With virtually no U.S. buyers for the 276 mostly older, less-efficient jets, the carriers are shopping the aircraft in emerging markets such as Russia while prices tumble and frozen debt markets damp sales, analysts and marketers say.

“People are sitting on the fence for three to six months waiting to see what happens with the price of fuel and the credit fallout,” said Francis Otto, a manager at industry data firm OAGback Aviation Solutions in New Haven, Connecticut. “You’re going to have, at least in the short term, a hesitation on the part of any potential lessees or purchasers.”

The lack of buyers leaves three of the biggest U.S. airlines saddled with storage expenses and, at American and Continental, lease payments on jets they’re no longer flying. Some models may fetch as little as half what they did in 2007, said Douglas Runte, a Piper Jaffray & Co. analyst in New York.

That adds to the strain on carriers with collective losses of $2.32 billion over the past four quarters, excluding special items. Writedowns for the values of some of the jets this year totaled almost $1.2 billion for Continental, American parent AMR Corp. and Chicago-based UAL Corp., owner of United.

“Many of the older aircraft now being grounded will never fly again,” Ray Neidl, an analyst at Calyon Securities in New York, said in a note after a Calyon-sponsored conference today on aviation leasing. The planes likely will be used for parts “regardless of where fuel prices go.”

Delays Over Financing

Continental said last month that credit snags for 3 unnamed buyers delayed the sale of 20 Boeing Co. 737-500 jets. The fourth-largest U.S. airline said it’s holding cash deposits and would be entitled to damages should the deals collapse.

“We have been actively selling our 737-500s to airlines predominantly based in Russia,” said Julie King, a spokeswoman for Houston-based Continental, which is shedding 67 of its 737s by the end of 2009.

Other models being pulled from U.S. fleets include Airbus SAS A300s; four-engine Boeing 747s, which predate the new generation of twin-engine jumbo jets; and Boeing MD-80s that American is replacing with new 737s burning 25 percent less fuel.

`No Demand’

“There really is no demand for them here,” Anders Hebrand, president of SkyWorks Leasing LLC in Greenwich, Connecticut, said in an interview.

Age and operating costs helped shape airlines’ decisions on which aircraft to unload as jet fuel surged 53 percent this year through July. While fuel is down by more than half since then, traffic is now sliding, off as much as 7.6 percent at United.

Any unsold aircraft will be parked. Those still under purchase agreements or on leases that can’t be terminated early will continue to drain cash.

“The fact that you have an asset that you’re paying for, that you’re not using, is a cost,” said Marc Wilson, director of safety, quality and asset management at MBA, a Washington- based aviation consulting group.

Preparing a plane for short-term storage costs as much as $20,000, and as much as $25,000 a year after that to keep it in marketable condition, said Jack Keating, president of Evergreen Maintenance Center Inc. in Marana, Arizona. Returning a jet to service may run as much as $1.2 million, which is almost a third of Runte’s $4 million estimated value for American’s MD-80s.

Likely Destinations

The likeliest markets for the planes include Africa, South America, Indonesia and Turkey, airlines and analysts said.

United hired AAR Corp., an aircraft and equipment marketer based in Wood Dale, Illinois, to find buyers for its 737s, focusing on non-U.S. operators. The third-biggest U.S. airline is grounding all 94 of its 737s, along with six 747s. Three 737s have been sold, Chief Financial Officer Kathryn Mikells said last month.

American may have to find overseas buyers for its A300- 600s, which aren’t flown by other U.S. airlines. Future lease payments and termination charges will total $140 million once the last of the 34 planes is retired by the end of 2009, according to American, the second-biggest U.S. carrier.

Those jets average almost 19 years of age, about the same as the MD-80s, and are among American’s oldest, according to the Ascend Online Fleets database. The other Boeings at the Fort Worth, Texas-based airline are an average of 12 years old.

A spokesman, Andy Backover, declined to comment on possible buyers, saying American hasn’t decided on the fate of the A300s or the 30 MD-80s being parked by next year. American’s fleet of 287 MD-80s is the world’s biggest.

“MD-80s are going to be extremely difficult to place,” said Piper Jaffray’s Runte. “Their age and, more importantly, fuel consumption, just makes them very unattractive.”

To contact the reporter on this story: Mary Schlangenstein in Dallas at maryc.s@bloomberg.net

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INDIA’S NEW RURAL ROADS MAY BUFFER ECONOMY FROM WORLD RECESSION

Posted by Gilmour Poincaree on November 19, 2008

November 19, 2008

by Cherian Thomas

Nov. 19 (Bloomberg) – The 100 kilometers (62 miles) of roads India is adding each day may save RURAL ROAD - INDIAAsia’s third-largest economy from the worst of a global recession.

New roads built so far under the $27 billion program have brought urban markets within reach of 60 million village dwellers over the past five years, letting them earn money selling fruits, vegetables and milk that would have spoiled otherwise. They are now spending their cash just as the world economy falters.

“Rural demand is keeping the economy kicking along,” said Shashanka Bhide, chief economist at the privately funded National Council of Applied Economic Research in New Delhi. “Growth will slow in India, but not as dramatically as the rest of the world.”

Some of India’s biggest companies are already benefiting: shares of Hindustan Unilever Ltd., the biggest maker of household products, and Hero Honda Motors Ltd., India’s largest motorcycle maker, are up this year while the benchmark stock index has plunged 56 percent. Domestic spending will help cushion India from the worst global meltdown since the Great Depression, according to the Reserve Bank of India.

When the roads program is completed in two years, every village with 1,000 or more inhabitants will RURAL ROAD - INDIA - UDAIPUR HIGHWAYhave access to all-weather roads, up from 40 percent when construction started in 2003. Spending on the project, run by the National Rural Roads Development Agency, was worth about 5 percent of gross domestic product when it was announced.

More to Come

Even at its current pace of investment, India still needs to spend more to buoy growth. The South Asian nation requires $100 billion annual investments in its highways, railways, power systems, ports and other infrastructure for the next five years, according to the government. Inadequate capacity shaves two percentage points off the nation’s growth each year, the finance ministry estimates.

Rural connectivity is increasing people’s income and adding to domestic consumption, which makes up 55 percent of India’s economy, compared with 37 percent of gross domestic product in China.

Hazari Lal Negi, 55, a farmer in the northern Indian state of Himachal Pradesh, says this year’s crop of cabbages, potatoes, beans and cauliflower was his first not to perish on the way to market because of lack of transport.

“Earlier, we would have to haul our produce and walk all night to the nearest town to catch the early RURAL ROAD - INDIAmorning trucks,” Negi said. “We could sell only about a quarter of our produce and the rest got wasted. Now, we sell everything.” Negi plans to expand into organic farming to boost his income.

`Consumer Boom’

“New markets are opening up for our products,” said Pranay Dhabhai, chief operating officer at Haier Appliances (India) Ltd., the local unit of China’s biggest home appliances maker. “People’s aspirations levels are rising with higher incomes. There’s a huge consumer boom waiting to happen because penetration levels are so low in India.”

Haier, which opened its first factory in India last year, estimates that only 19.6 percent of Indian households have refrigerators, 27 percent own television sets and just 3 percent of homes have air-conditioners installed.

Sanjeev Chadha, chief executive officer of PepsiCo Inc.’s India unit, said the September-October period “has been one of the best ever” for sales.

“Buying power is coming,” said Joerg Mueller, head of India operations for Volkswagen AG, which is RURAL ROAD - INDIA - TRUCK STOPbuilding a 580 million euro ($730 million) car factory in the western Indian city of Pune. “We are optimistic and happy to be here. We see a very positive future.”

Cushioning the Slowdown

The International Monetary Fund expects India’s economic growth to slow to 6.3 percent in 2009 from an estimated 7.8 percent this year. That’s still faster than the South Asian nation’s average 4.5 percent expansion since 1947.

China may grow 8.5 percent in 2009, compared with 9.7 percent this year, according to the IMF. The U.S. and the Euro area may shrink by 0.7 percent and 0.5 percent in 2009, the Washington-based lender said.

“Overall, India is still poised to rank as the second- fastest growing major economy after China,” said Rajeev Malik, regional economist at Macquarie Group Ltd. in Singapore. “Consumption expenditure is poised to be resilient, but investment spending will be hit owing to scarce availability and higher cost of funding.”

Even though India has a domestic consumption-led economy, its growth may be hampered by slower RURAL ROAD - INDIA - MALSHEJ GHAT ROADinvestments by companies as borrowing options dry up in a global recession.

Lending Slips

Investor appetite in the stock market has waned, with overseas funds selling a record $12.7 billion of equities this year. Foreign lenders are shying away from emerging markets like India, as Europe and Japan last quarter slipped into recession.

The rural roads program is financed by the federal government using revenue from an additional tax imposed on the sale of diesel.

“India can’t be fully insulated from what’s happening in the rest of the world,” said Rajat Nag, managing director at the Manila-based Asian Development Bank. “Infrastructure financing will be tight for a while.”

Nag said India’s banks are well capitalized and can afford to step up lending. They have just $1 billion of toxic Western assets out of a total loan portfolio of $510 billion, according to the central bank. The global credit crunch has seen financial institutions around the world write off or lose $965.8 billion.

To stimulate investments, India’s central bank has slashed lenders’ reserve requirement in cash and bonds by 3.5 percentage points and one percentage point respectively and cut interest rates by 1.5 percentage points in the past month.

“India is connected with the global crisis, but not as severely as other Asian countries,” said K.V. Kamath, chief executive officer of ICICI Bank Ltd., the nation’s second- biggest. “We will have to get back to the consumers to get India back on a higher growth path.”

To contact the reporter on this story: Cherian Thomas in New Delhi

Last Updated: November 18, 2008 13:43 EST

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CRECERÁN FERROCARRILES URBANOS EN CHINA EN 3 MIL KILÓMETROS – Hacia 2015, unos mil 700 km de líneas adicionales de trenes urbanos operarán en 15 ciudades del país asiático

Posted by Gilmour Poincaree on November 15, 2008

12/11/2008 04:31

PL

Las líneas de trenes urbanos de China crecerán en los próximos años en unos tres mil kilómetros en las redes de casi 40 ciudades de todo el país, de acuerdo con un estudio difundido hoy.

El Centro de Investigaciones del Desarrollo del Consejo de Estado (gabinete) analizó los sistemas de metro y ferrocarriles suburbanos que están en ejecución o en fase de proyecto, y los consideró como una obra a escalas sin precedentes.

Dicho estudio concluyó que el conjunto de todos los proyectos tendrá un costo de alrededor de 88 mil millones de dólares, aunque esta cifra podría elevarse en el futuro por el incremento de los costos.

Hacia 2015, unos mil 700 kilómetros de líneas adicionales de trenes urbanos estarán operativos en 15 ciudades chinas, en tanto otras esperan la luz verde del gobierno central para iniciar las obras.

Algunos especialistas vaticinan un precio mayor de estos proyectos durante la próxima década.

Ya en la actualidad un kilómetro del metro en Beijing tiene un costo de 120 millones de dólares, en comparación con 15 millones de dólares años atrás.

En la medida en que los costos suben en espiral se hace más urgente que las ciudades de más de cuatro millones de habitantes emprendan la construcción de metros o trenes ligeros a la mayor brevedad, dijo una fuente del Ministerio de Vivienda y Desarrollo Urbano y Rural.

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