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  • Headlines on camera

    Headlines on camera

  • <P>
<b>A Shell logo is seen at a petrol station in London.</b>
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Royal Dutch Shell said it would pay $4.7 billion cash to buy privately held East Resources Inc, giving it substantially more exposure to crucial shale gas plays in North America.
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But analysts cautioned the deal would put pressure on Shell&#39;s balance sheet at a time the company is already planning substantial spending.
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The deal will increase Shell&#39;s daily gas production in North America by about 7.5 per cent and give it access to a swathe of the Marcellus Shale, the northeastern US rock formation that is one of the crucial sources of future US gas production.
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Shale gas accounts for between 15 per cent and 20 per cent of US gas production but is expected to quadruple in coming years, touching off a scramble among producers large and small for access to resources.
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    A Shell logo is seen at a petrol station in London.

    Royal Dutch Shell said it would pay $4.7 billion cash to buy privately held East Resources Inc, giving it substantially more exposure to crucial shale gas plays in North America.

    But analysts cautioned the deal would put pressure on Shell's balance sheet at a time the company is already planning substantial spending.

    The deal will increase Shell's daily gas production in North America by about 7.5 per cent and give it access to a swathe of the Marcellus Shale, the northeastern US rock formation that is one of the crucial sources of future US gas production.

    Shale gas accounts for between 15 per cent and 20 per cent of US gas production but is expected to quadruple in coming years, touching off a scramble among producers large and small for access to resources.

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<b>A logo of Ssangyong Motor is seen at the company&#39;s branch shop in Seoul.</b>
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France&#39;s Renault SA and India&#39;s top utility vehicle maker Mahindra are in the running to buy troubled South Korean SUV maker Ssangyong Motor, sources said on Friday, in a deal worth up to $500 million.
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The participation of high profile international firms in the auction was seen as a potential threat to the dominance enjoyed by South Korea&#39;s top automaker Hyundai Motor and its affiliate Kia Motors, not only on their home turf but in export markets.
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Seven foreign and South Korean companies have submitted letters of intent for Ssangyong, 10 per cent owned by China&#39;s SAIC Motor Corp, by the Friday deadline, Ssangyong said.
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    A logo of Ssangyong Motor is seen at the company's branch shop in Seoul.

    France's Renault SA and India's top utility vehicle maker Mahindra are in the running to buy troubled South Korean SUV maker Ssangyong Motor, sources said on Friday, in a deal worth up to $500 million.

    The participation of high profile international firms in the auction was seen as a potential threat to the dominance enjoyed by South Korea's top automaker Hyundai Motor and its affiliate Kia Motors, not only on their home turf but in export markets.

    Seven foreign and South Korean companies have submitted letters of intent for Ssangyong, 10 per cent owned by China's SAIC Motor Corp, by the Friday deadline, Ssangyong said.

  • <P>
<b>A bank employee counts bundles of Indian currency at a cash counter in Agartala</b>
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Volatile stock markets have not changed India&#39;s plans to sell stakes in state-run companies, a senior finance ministry official told Reuters on Friday.
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The government has pencilled in proceeds of roughly Rs 40,000 crore ($8.6 billion) from sales in government companies in the fiscal year that began on April 1.
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"We are going ahead with all the preparations. And we don&#39;t have any issue coming up till July," Disinvestment Secretary Sumit Bose said.
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Indian shares skidded to their lowest close in three-and-a-half months early this week, before paring losses, as Europe&#39;s sovereign debt woes sparked worries of larger foreign fund outflows and casting doubt over the government&#39;s ability to complete its stake sale plans.
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Foreigners have withdrawn $2.3 billion from Indian equities so far in May in their biggest pullout since October 2008.

    A bank employee counts bundles of Indian currency at a cash counter in Agartala

    Volatile stock markets have not changed India's plans to sell stakes in state-run companies, a senior finance ministry official told Reuters on Friday.

    The government has pencilled in proceeds of roughly Rs 40,000 crore ($8.6 billion) from sales in government companies in the fiscal year that began on April 1.

    "We are going ahead with all the preparations. And we don't have any issue coming up till July," Disinvestment Secretary Sumit Bose said.

    Indian shares skidded to their lowest close in three-and-a-half months early this week, before paring losses, as Europe's sovereign debt woes sparked worries of larger foreign fund outflows and casting doubt over the government's ability to complete its stake sale plans.

    Foreigners have withdrawn $2.3 billion from Indian equities so far in May in their biggest pullout since October 2008.

  • <P>
<b>A company logo of Standard Chartered bank is displayed during a news conference in Hong Kong</b>
</P><P>
UK bank Standard Chartered&#39;s sale of Indian shares worth up to about $590 million was fully covered on its final day of bookbuilding after volatile markets and a new regulation weighed on demand during its first three days.
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Standard Chartered&#39;s Indian Depositary Receipt (IDR) issue is the first, and the emerging markets-focused bank has said the offering is aimed more at building its brand and presence in its second-largest market than about raising funds.
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The offer was being closely tracked by other foreign firms which have large consumer presence in Asia&#39;s third-largest economy and may also be considering share issues to raise their profiles.
</P>

    A company logo of Standard Chartered bank is displayed during a news conference in Hong Kong

    UK bank Standard Chartered's sale of Indian shares worth up to about $590 million was fully covered on its final day of bookbuilding after volatile markets and a new regulation weighed on demand during its first three days.

    Standard Chartered's Indian Depositary Receipt (IDR) issue is the first, and the emerging markets-focused bank has said the offering is aimed more at building its brand and presence in its second-largest market than about raising funds.

    The offer was being closely tracked by other foreign firms which have large consumer presence in Asia's third-largest economy and may also be considering share issues to raise their profiles.

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