PHILIPPINES: New Philippine finance undersecretary Recto to head privatisation campaign

MANILA (AFX-ASIA) – Newly-appointed Finance Undersecretary Eric Recto will head the government’s privatization campaign next year, Finance Secretary Jose Isidro Camacho said. Mr Camacho reiterated the government expects to raise at least 2 billion pesos next year from the sale of its shares in Manila Electric Co, the Philippine National Construction Corp, the Philippine Phosphate […]

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CENTRAL ASIA: Caspian states should be ‘transparent’ with US oil companies’ paymen

WASHINGTON (AFX) – Kazakhstan, Azerbaijan and other Caspian republics should be “transparent” in their handling of oil contract payments from US and western oil companies, said Ambassador Steven Mann, a senior US State Department advisor for Caspian Basin Energy Diplomacy. Talking to reporters in a briefing at the National Press Club here, Mann — a […]

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COMPANIES: UK companies at the Offshore Southeast Asia Conference

By Triple I British companies have a long and successful history in the offshore industry, with particular strengths gained from working in the North Sea. Education and training, sub-sea technologies and world-class engineering design and construction are available in abundance from the UK. A well-established supply chain ensures that plant and equipment can be readily […]

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PHILIPPINES: Meralco, First Gas reject overcharging allegations made by ex-senator

MANILA (AFX-ASIA) – The Manila Electric Co and affiliate First Gas have rejected allegations by ex-Senator Juan Ponce Enrile that they overcharged consumers by 14.7 billion pesos for power not delivered between December 2000 and January 2002, the Philippine Daily Inquirer reported. (US$1=52 peso). Mr Enrile told the Senate in a committee hearing that First […]

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INDONESIA: Western business community sits tight in Indonesia amid terror warning

JAKARTA (AFX-ASIA) – The western business community is sitting tight in the wake of upgraded travel warnings from several countries, with no sign of a mass exodus of expatriate workers, business and security sources said. But expats are taking the warnings seriously, with many awaiting further advice while raising their personal level of security by […]

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CHINA: China Aviation Oil to gain from Shanghai Pudong International Airport stake

Singapore-based China Aviation Oil Singapore Corp (Caosco) will benefit from the transfer of all international flights from Shanghai’s Hongqiao Airport to the new Shanghai Pudong International Airport (SPIA) from Oct 28. Caosco owns a 33% stake in the company supplying jet fuel to the newly completed airport. In a statement, Caosco said: “From 28 October […]

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