IN BRIEF (Page 16)

Costs hit Akzo Nobel

Akzo Nobel NV, the Dutch paint maker that's paying $16 billion for the United Kingdom's Imperial Chemical Industries Plc, said third-quarter profit fell 10 percent on costs to overhaul its coatings and chemicals plants.

Net income declined to 281 million euros from 313 million euros a year earlier, the Amsterdam-based company said yesterday in a statement. Analysts in a Bloomberg survey predicted profit of 285 million euros.

SembCorp slides

SembCorp Marine Ltd, the world's second-largest builder of shallow-water oil rigs, fell the most in five years in Singapore after saying it may have lost $248 million from unauthorized foreign-exchange transactions.

The shares, suspended from trading on Monday, dropped 15 percent to S$4.78 at the midday break on the Singapore stock exchange, after falling as much as 18 percent. Parent SembCorp Industries Ltd declined 5.6 percent to S$5.95.

Boost for Fujitsu

Fujitsu Ltd, Japan's biggest computer-services company, rose the most in three weeks on the Tokyo Stock Exchange after the company reported first-half operating profit that beat analysts' estimates.

Fujitsu shares climbed 2.7 percent to 838 yen at the 11 am trading break, headed for the biggest gain since October 3. The benchmark Nikkei 225 Stock Average added 0.3 percent.

Brazilian scheme

America Movil SAB, Latin America's largest mobile-phone company, said it's "ready" to offer high-speed Internet and video services in Brazil.

America Movil is waiting for Brazil's telecom regulator, Anatel, to certify the equipment for so-called third-generation service, Joao Cox, chief executive officer of Claro, the company's Brazilian wireless unit, said yesterday at a press conference in Sao Paulo.

Leasing plan

Accor SA, Europe's biggest lodging provider, plans to lease back or franchise three quarters of its hotels to improve profitability.

Operating margin will rise 3 percentage points by 2010, the Paris-based company said yesterday. Accor plans to change the management structure in 350 hotels next year and in a further 600 properties by the end of 2010.

Prices benefit Sabic

Saudi Basic Industries Corp, the world's biggest chemicals maker by market value, said third-quarter profit rose 37 percent as it benefited from higher petrochemical prices and increased production capacity from General Electric Co's plastics unit.

Net income advanced to 7.4 billion riyals ($1.98 billion), from 5.4 billion riyals, the Riyadh-based company, known as Sabic, said yesterday in a statement posted on the website of the Saudi stock exchange.

Gold regains luster

Gold rose in Asia after the biggest decline in almost three weeks was seen as overdone by some investors. Silver gained.

Gold for immediate delivery gained as much as $3.70, or 0.5 percent, to $757.90 an ounce, before trading at $757.60 at 10:36 am in Singapore. It fell to as low as $745.83 on Monday. Silver for immediate delivery gained 3 cents, or 0.3 percent, to $13.50 an ounce.

Joining forces

Nokia Oyj, the world's biggest maker of mobile phones, teamed up with Reuters Group Plc to help journalists file text, photos and video from wireless devices.

In the trial, which started earlier this year, selected journalists from Reuters used a "lightweight" mobile device rather than a traditional laptop computer, Espoo, Finland-based Nokia said yesterday in a statement distributed by Hugin newswire.

Bloomberg News

(China Daily 10/24/2007 page16)