Russia's Rostelekom 2006 net profit jumps 49 pct

(Reuters) - Net profits, to International Financial Reporting Standards, increased to 1.46 billion roubles from 0.98 billion roubles in 2005, the company said.



Revenues also rose by around 50 percent to stand at 61.56 billion roubles, compared with 40.96 billion roubles in 2005.


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UPDATE 2-Shanghai to launch financial conglomerate soon

(Reuters) - SHANGHAI, July 19 - The Shanghai government will
set up a financial conglomerate soon to consolidate the city's
financial assets and strengthen its role as a financial centre,
a senior official and sources said.




The group -- likely to be named Shanghai New International
group -- will allow the government to tighten control of its
financial assets in a city that is increasingly competing with
other financial hubs such as Hong Kong and Tokyo.


Read more at Reuters.com Mergers News

Aquarius contractor fires 3,000 striking workers

(Reuters) - More than 3,000 striking workers at two South African mines owned by platinum miner Aquarius Platinum have been dismissed, the firm said on Thursday.

The strike stemmed from demands for a bonus made by employees and followed the dismissal of 108 load-haul dumper operators in May. The rest of the contractor workforce went on a sympathy strike.


Read more at Reuters Africa

U.K. Natural Gas Declines on Forecast That Supplies May Outstrip Demand

(Bloomberg) -- U.K. natural gas costs fell as
forecasts indicated growing supplies may outstrip expected
consumption of the fuel today. Gas in mainland Europe and U.K.
power prices also dropped.

Gas for same-day delivery declined 4.8 percent to 27 pence a
therm at 9:20 a.m. London time, according to prices on Bloomberg
from the broker Spectron Group Plc. That's equivalent to $5.50 a
million British thermal units. A therm is 100,000 Btus. Gas for
delivery a day ahead fell as much as 9.3 percent to 26.75 pence a
therm, according to Spectron.


Read more at Bloomberg Energy News

Telenet Seeks 1 Billion-Euro Loan to Pay Shareholder Dividends, Refinance

(Bloomberg) -- Telenet Group Holding NV, Belgium's
biggest provider of broadband cable services, is seeking a 1
billion-euro ($1.4 billion) loan as part of its plan to replace
bonds and pay dividends, bankers arranging the deal said.

Telenet, based in Mechelen, Belgium, wants to refinance all
its bonds and return as much as 813.4 million euros to
shareholders, the company said earlier this month. Telenet hired
BNP Paribas SA, JPMorgan Chase & Co. and ABN Amro Holding NV to
arrange the financing, said the bankers, who declined to be
identified because the terms haven't been set.


Read more at Bloomberg Bonds News

Vodafone posts solid Q1 as India, Turkey shine

(Reuters) - By Kirstin Ridley, European Telecoms Correspondent



LONDON, July 18 - Mobile phone giant Vodafone Group Plc posted robust first-quarter revenue and customer growth on Thursday as booming business in India and Turkey helped offset tough German and Italian markets.


Read more at Reuters.com Mergers News

LG Elec swings to biggest profit in 3 years

(Reuters) - SEOUL, July 19 - South Korea's LG Electronics Inc. swung to a profit in the second quarter as a turnaround in its LCD venture and strong mobile phone sales outweighed heavy losses in its plasma display business.



LG, the world's No. 5 handset maker, is likely to enjoy a stronger second half as a recovery at its liquid crystal display


Read more at Reuters.com Market News