TTCS board member to increase holdings Sugar producer Thanh Thanh Cong-Bien Hoa JSC (TTCS) has announced a member of its management board will buy 12 million shares via trading on the stock market. Dang Huynh Uc My plans to purchase the shares between December 24 and January 22, via both order-matching and put-through transactions, the company said in a statement on Wednesday. My previously bought 20 million TTCS shares between October 17 and November 7 to increase her ownership to 10.6 per cent from 6.56 per cent. If she buys all 12 million shares, My will raise her stake in the firm to 13 per cent. My is also the management board chairwoman at Thanh Thanh Cong Investment JSC, the biggest shareholder of the sugar firm. Thanh Thanh Cong-Bien Hoa JSC is listing more than 557 million shares on the Ho Chi Minh Stock Exchange under code SBT. Its shares gained 0.8 per cent to end Thursday at VND19,950 (US$0.87) per share. In the financial year 2017-18 between July 1, … [Read more...] about BUSINESS NEWS IN BRIEF 24/12
What is an oil spill
Race to clean up oil spill after cargo ships collide off Corsica
French and Italian civil and military teams were working to contain a spreading oil spill in the Mediterranean on Monday (Oct 8) after a container ship collision off the island of Corsica that prompted France to launch an investigation into "maritime pollution". French police released a photo showing the Tunisian-operated Ulysee cargo ship, left, after it rammed the Cyprus-based CLS Virginia near Corsica on Sunday AFP/Stanislas GENTIEN The accident occurred early on Sunday when a Tunisian freighter rammed into a Cyprus-based vessel anchored about 30 kilometres off the northern tip of the French island. The ship's hull was pierced and at least one fuel tank began leaking into the sea off the holiday island of Corsica. French Environment Minister Francois de Rugy said some 600 tonnes of propulsion fuel had spilled into the sea. He condemned the "abnormal behaviour" of the Tunisian ship in a press briefing at Corsica's Bastia airport after surveying the affected area by … [Read more...] about Race to clean up oil spill after cargo ships collide off Corsica
Obama’s olive branch to big business: Will it work?
If any doubt exists about whether President Obama gets the message that the American public wants him to put revitalizing job growth at the top of his priority list, the last two weeks should surely put them to rest. President Barack Obama speaks about the future of energy and technology competitiveness during his visit … Even as the White House was forced to turn much of its attention to the crisis in Egypt, the president and his aides unveiled an almost daily array of new initiatives aimed at demonstrating that jobs and the economy are now solidly at the forefront of the president\'s agenda. [ For complete coverage of politics and policy, go to Yahoo! Politics ] The onslaught started with the State of the Union address, which the president largely devoted to laying a longer-term vision for strengthening the American economy and competitiveness. Since then, he and his advisors have followed up with a series of proposals to flesh out that vision, laying out plans for … [Read more...] about Obama’s olive branch to big business: Will it work?
Ten killed, dozens injured in illegal Indonesia oil well fire
Ten people have been killed and dozens injured in a huge blaze at an illegal oil well in Indonesia, authorities said Wednesday. Several homes were also destroyed after an oil spill sparked a huge fire at about 1:30 am (1830 GMT Tuesday) in a residential area on Sumatra island's Aceh province. It was still burning by early afternoon. "There was a group of people digging in the old well but suddenly a huge fire was sparked and it exploded," said national police spokesman Setyo Wasisto. At least 10 bodies have been recovered, police said, while some 40 "severely injured" victims were being treated at local hospitals. It was not clear if any were in life-threatening danger. Images from the accident showed a towering flame shooting into the sky above homes and palm trees as curious villagers looked on. Firefighters were at the scene, with state-owned oil company Pertamina assisting their efforts. Police said the victims were collecting oil from around the entrance of a wellbore when the … [Read more...] about Ten killed, dozens injured in illegal Indonesia oil well fire
Canada’s Trudeau defends controversial pipeline project
Canadian Prime Minister Justin Trudeau on Sunday (Apr 15) defended his government's backing of a controversial pipeline project, saying the world could not afford to choose between the environment and the economy. Canadian Prime Minister Justin Trudeau is caught in a political crisis over the expansion of an oil pipeline AFP/Lars Hagberg In an interview with French business daily Les Echos ahead of a visit to Paris, Trudeau acknowledged that environmentalists were "concerned" by the Trans Mountain pipeline. But he said, "Canadians and people around the world know that we cannot choose between what is good for the environment and good for the economy." "You have to do both at the same time, and above all, you have to fund the transition towards reduced use of fossil fuels." On Thursday, the Liberal premier cut short a visit to Peru to try defuse a threatened constitutional crisis over expanding a 1,150km pipeline to move 890,000 barrels of oil per day from landlocked Alberta's … [Read more...] about Canada’s Trudeau defends controversial pipeline project