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Oil hovers near $80 as Saudi Arabia plans output increase

LONDON, Oct 22 (Reuters): Oil hovered around $80 a barrel on Monday, lifted by a diplomatic crisis between Saudi Arabia and the West, just two weeks before US sanctions potentially choke off Iranian crude supplies.Saudi Energy Minister Khalid al-Falih told Russia's TASS news agency that his country had no intention...

Chinese private enterprises cash in on global oil, gas business

HANGZHOU, Oct 22 (Xinhua): The Liquefied Natural Gas (LNG) terminal invested by ENN Group, a Chinese private energy company, began operations with Friday's arrival of a ship loaded with 69,000 tonnes of LNG from Australia.The terminal is in the city of Zhoushan, which houses China (Zhejiang) Pilot Free Trade Zone....

Ryanair first-half profits fall 7.0pc

DUBLIN, Oct 22 (AFP): Ryanair's first half to September profits fell seven per cent to EUR1.2 billion, the low-cost airline announced Monday, after widespread strike action by pilots and cabin crew disrupted operations.In a statement, the Irish firm maintained its net profit estimate for its current financial year to March...

CBS interim chairman resigns from board because of ill health

Richard Parsons NEW YORK, Oct 22 (Reuters): CBS Corp (CBS.N) interim chairman Richard Parsons has resigned from the board for reasons of ill health about a month after joining, the company said in a statement on Sunday.Parsons, who said he had complications from a form of cancer, will be replaced...

Siemens CEO pulls out of KSA conference

FRANKFURT AM MAIN, Oct 22 (AFP): The chief executive of German industrial conglomerate Siemens Joe Kaeser said Monday he would withdraw from a Saudi investment summit, after days of media and political pressure over the murder of journalist Jamal Khashoggi."It's the cleanest decision but not the most courageous one," Kaeser...

Gold price opens higher in Hong Kong

HONG KONG, Oct 22 (Xinhua): The gold price in Hong Kong went up 48 Hong Kong dollars to open at 11,490 dollars (about 1,465.56 US dollars) per tael on Monday, according to the Chinese Gold and Silver Exchange Society.

Electronics giant Philips posts mixed results in Q3

THE HAGUE, Oct 22 (AFP): Dutch electronics giant Philips, which is focusing its business on medical equipment and services, on Monday posted higher third quarter sales but profits dipped due to currency headwinds.Sales rose 4.0 per cent to 4.3 billion euros ($4.9 billion) year-on-year and orders for the Amsterdam-based group's...