1 Asia $800bn nuclear splurge helps Aus mining
resurgence (Straits Times) A nuclear-power boom in Asia that's set to drive up
uranium prices is triggering a resurgence in mining in Australia, home to the
world's largest reserves.
Almost $800 billion of new reactors are under
development in the region, driven by China and India where demand is climbing
for the emission-free energy. The value of uranium plunged in the wake of the
2011 Fukushima nuclear disaster in Japan. Now, with contract prices forecast to
jump more than 60 percent, suppliers in Australia are planning about half a
dozen new mines.
"Australia is very well placed," said
Brian Reilly, managing director of Canadian miner Cameco Corp.'s local unit.
"China and India will be very significant customers down the track."
2 Siemens to cut 4,500 jobs (BBC) German industrial
giant Siemens plans to cut 4,500 jobs, or about 1% of its total global
workforce, months after it announced plans to slash more than 7,000 jobs. The
news came as it announced quarterly profits down 5% at €1.7bn (£1.3bn).
The company said: "These measures are being
taken in response to the persistently difficult environment in the global power
generation market." About 2,200 of the job cuts will come from Siemens'
German operations. Siemens, whose business activities include electronics, trains
and turbines, employs more than 340,000 people across the world.
Siemens said price erosion, regulatory changes and
aggressive competitors were among the challenges the company faces. The company
said its long-term strategy remains unchanged.
3 Emirates group grows for 27th straight
year (Issac John in Khaleej Times) The Emirates Group has announced its
second highest profit in history of
Dh5.5 billion for fiscal year ended on March 31, 2015 — a jump of 34 per cent
over the previous year — to mark 27th consecutive year of profit and growth.
The group — comprising the world’s fastest growing
carrier Emirates airline, SkyCargo and airport handling company dnata — said it
ended 2014 on a strong note despite the many global and operational challenges.
The group’s revenue reached Dh96.5 billion, an increase of 10 per cent over
last year’s results, and the cash balance remained strong, growing to Dh20
billion.
Shaikh Ahmed bin Saeed Al Maktoum, Chairman and
Chief Executive of Emirates airline and Group, described 2014-15 was “a
turbulent year” for aviation. “The fall in oil prices provided cost relief in
the second half of our financial year, however it did not offset the hit to our
profitability caused by significant currency fluctuations, nor the hit to our
revenue from operational adjustments in addressing the Ebola outbreak, armed
conflicts in several regions, and the 80-day runway upgrading works at Dubai
International airport,” he said.
“To date, Emirates and dnata have generated
dividends of Dh 14.6 billion for the Dubai government. Those dividends have
been ploughed back into the economy, helping fund essential infrastructure
projects including the various phases of expansion at Dubai International
airport and Dubai World Central.
In 2013, aviation contributed $26.7 billion to
Dubai’s GDP, supporting 416,550 jobs. By 2020, aviation is projected to support
over 750,000 jobs and contribute $53.1 billion to GDP.
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