The U.S. government's deepwater oil drilling ban, which resulted from the BP PLC (PLC/a>) (NYSE ADR: BP) Gulf oil spill, prompted some readers to question how far U.S. authority reaches regarding offshore business, and what kind of international repercussions could result.
Q: Where do international waters begin for the Gulf of Mexico? I read somewhere if we didn't drill for oil in the Gulf that China was going to do so. When you are talking international business, does U.S. President Barack Obama have the authority to shut it all down?
By Gustav Sandstrom, Reporter, The Wall Street Journal
A global alliance of telecom operators said Tuesday it will establish a corporate entity as part of its plans to set up an open platform for mobile applications, hoping to broaden the market and emulate the success of Apple Inc.’s (AAPL) App Store and Google Inc.’s (GOOG) Android Market.
The Wholesale Applications Community, or WAC, was launched in February as a joint venture between 24 operators, including U.S.-based AT&T Inc. (T), Norway’s TelenorASA and China Mobile Ltd.
The community will act as a wholesaler, it said Tuesday, testing and certifying applications from third-party developers and sending them
Jordan-based Aramex has announced it has been awarded a two-year contract by the Dutch defence ministry to provide ground transportation services for its military across Europe. According to the deal, Aramex will handle from its Eindhoven station the regular movement of shipments both inbound and outbound from the Netherlands to locations across the EU, Norway, Switzerland and Turkey.
SINGAPORE: Apple's iPhone will likely dominate the high-end smartphone market in the next five years but faces strong competition from handsets using Google's Android platform, a research firm said yesterday.
By 2015, total mobile application downloads in the Asia-Pacific are forecast to reach 5.30 billion, of which 597.15 million, or about 11 per cent, will be for the iPhone, technology industry consultancy Ovum said.
Downloads of iPhone applications are estimated at US$62.16 million (US$1 = RM3.19) in 2010, Ovum said in an analysis released four days before the launch of the new-generation iPhone 4 in another 17 countries and cities worldwide on Friday.
The iPhone 4 is expected "to face much stiffer competition than its predecessors", Ovum principal analyst Adam Leach said in a statement.
"The rise of Google Android over the
BP capped the blown-out Macondo well last week and has been conducting pressure tests to ensure the cap's strength. A relief well is close to completion but work has been halted until the storm passes. All work could be stopped for 10 - 14 days if the area is evacuated.
While the leak may finally be close to plugged, the financial aftermath is far from over. Corporate entities and the
Nordic countries saw their economies pummeled at the start of the financial downturn, but their smaller markets and related exchange traded funds were among the first jump back. Some are even growing so quickly that rate hikes are needed to cool things off.
Of all the western European countries, only Sweden and Norway’s Central Banks have recently deemed it safe to increase rates, according to The Swedish Wire. Sweden raised rates to 0.5% from 0.25% on strong economic numbers, with household spending jumping 3.5% in the first quarter, which was better than what most economists expected. The Swedish economy expanded 1.4% compared to the previous quarter and 3% year-over-year.
OSLO (Norway): Norwegian telecommunications group TelenorASA yesterday said its net profit soared in the second quarter, to 9.5 billion kroner, or US$1.5 billion (US$1 = RM3.22), from 1.4 billion kroner, mainly thanks to a one-time gain related to the completed listing of VimpelCom shares.
Telenor made a gain of 6.5 billion kroner after transferring its shares in Kyivstar to the new Bermuda-registered VimpelCom Ltd, in which it now owns a near 40 per cent stake.
Revenues for the April-June period rose to 25.2 billion kroner from 24.5 million kroner in the same three months a year earlier.
Telenor also announced plans to launch a share buyback programme for around 3 per cent of its outstanding shares and raised its guidance for organic revenue growth in 2010. It is now
MALAYSIA and the governments of the member states of the European Free Trade Association (Efta) yesterday signed a joint declaration on economic cooperation (JDC), which will pave the way for a free trade agreement in the future.
The JDC, which was signed in Geneva, Switzerland, covers information exchange, promotion and facilitation of trade and investment, technical assistance and capacity building.
According to a statement from the Ministry of International Trade and Industry, the bilateral trade between Malaysia and Efta amounted to RM5.6 billion in 2009, representing 0.6 per cent of Malaysia's global trade.
"Switzerland is the major market and represents 84.5 per cent of Malaysia's total trade with Efta," the ministry said.
Last year, foreign direct investment from Efta was RM256.6
FARNBOROUGH, England, July 19 /PRNewswire-FirstCall/ -- FARNBOROUGH AIR SHOW -- Pratt & Whitney signed a ten-year agreement with Volvo Aero Norway to produce military engine shafts for Pratt & Whitney engines including the F135 powering the F-35 Lightning II and the F119 powering the F
Aker Solutions has won a contract to supply a further 2 500 feet riser extension to the Dragonquest formerly Titanium Explorer rig which is owned by Valenica Drilling and managed by Vantage Drilling Company Norway Post reported. The contract value for the Norwegian engineering company is approximately 90 million Norwegian...
FMC Technologies has announced that it has signed an agreement with Russian Gazprom Dobycha Shelf LLC for the manufacture and supply of subsea production equipment to support the Kirinskoye field Norway Post reported. According to a press release the award has a value of approximately $190 million in revenue to...
: 
All Rights Reserved. 
The U.S. government's deepwater oil drilling ban, which resulted from the 
