The result is lower than the 10.5% growth forecast in a Dow Jones poll of economists, due to a decline in electronics, computer hardware and pharmaceuticals shipments.
Nera Telecommunications has posted a 9.4% fall in profit after tax for second quarter ending June 30 (2QFY2010) to $2.9 million from $3.3 million in 2QFY2009.
Turnover for second quarter decreased 22.8% to $38.0 million from $49.3 million in 2QFY2009.
Neratel says the drop in turnover resulted from lower turnover from the Telecom business segment, but partially offset by higher turnover from the Infocomm business segment.
The global recession last year slowed orders for rig makers and the industry has come under further pressure in the wake of BP’s (BP.L) oil spill in the Gulf of Mexico, which triggered a US government moratorium on deepwater drilling.
Great Eastern Holdings, the insurer partly owned by Oversea-Chinese Banking Corp., said fourth-quarter profit rose 94% boosted by a strong recovery in investment markets, according to Bloomberg.
Net income rose to $148.4 million from $76.5 million a year earlier, it said in a statement to the Singapore stock exchange.
Great Eastern’s chief executive Ng Keng Hooi said in the statement that the insurer aims to capitalize on opportunities from the opening up of the financial sector in Malaysia.
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Ambrose-Evans Pritchard notes:Fitch expects the combined state and federal debt to reach 94pc of GDP next year, up from 57pc at the end of 2007. Federal interest costs will reach 13pc of revenues, meaning that an eighth of all taxes will go to se…
A survey of 400 companies found that 94 percent of enterprises plan to maintain or increase their investment in enterprise social media tools such as blogs, wikis and microblogging tools from providers such as IBM, MindTouch, Socialcast, Mzinga and Jive Software. The results seem counterintuitive in light of the recession, but it shows the importance of these tools for social networking and collaboration, and proves that they are not just a fad in the enterprise. Social analytics tools are also part of the trend.
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Despite the nagging recession, a new study found that 94
percent of enterprises plan to maintain or increase their investment in enterprise
social media tools such as blogs, wikis and microblogging tools.
Deloitte, Beeline Labs and the Society for
New Communications Research survey…
