IN BRIEF (Page 16)

'Going strongly'

News Corp, the media company controlled by billionaire Rupert Murdoch, said second-quarter trading is "going strongly".

Murdoch, chairman of the New York-based company, made the comments to investors at a meeting in Adelaide, Australia yesterday. News Corp didn't provide specific earnings or sales numbers for the three months ending December 31.

Lender down

Shinsei Bank Ltd, the first Japanese lender acquired by foreign investors, said first-half profit dropped 40 percent due to increased provisions against loans linked to US subprime mortgages.

Net income slid to 23.1 billion yen ($210 million) from 38.8 billion yen a year earlier for the six months ended September 30, the Tokyo-based bank said yesterday, revising a preliminary report last month in which it said profit would total 31 billion yen.

Going places

Kuoni Reisen Holding AG, the largest Swiss travel company, said nine-month profit increased 14 percent as acquisitions of tour operators fueled sales growth.

Net income rose to 99.2 million Swiss francs ($88 million) from 86.7 million francs a year earlier, the Zurich-based company said yesterday. That beat the 85.9 million-franc median estimate of five analysts surveyed by Bloomberg.

Gas JV near

Aem SpA is "close" to agreeing with Russian natural gas supplier OAO Gazprom on a joint venture for the sale of the fuel in Italy, Aem Chairman Giuliano Zuccoli said yesterday.

"Talks are very advanced," Zuccoli said in an interview at a conference in Rome yesterday. An agreement may be reached by the end of the year, he said. Zuccoli declined to say what stakes the partners would hold in the venture.

Dubai deal

Murray & Roberts Holdings Ltd, South Africa's second-largest construction company, has been awarded a contract to build the $600 million Trump Tower in Dubai, the centerpiece of the sheikhdom's Palm Island development.

The construction contract has been "verbally" agreed between the parties, said Aaron Richardson, a spokesman for state-owned developer Nakheel. Murray & Roberts declined to comment.

Gore signs up

Former US Vice-President Al Gore has signed up as a partner at a prestigious California venture capital firm, just weeks after being awarded the Nobel Peace Prize, the company said on Monday.

Gore joins the Silicon Valley company Kleiner, Perkins, Caufield & Byers, which was an early investor in Google, Netscape and Amazon.com, it said in a statement. He is to be a leader in the Menlo Park, California company's "clean tech" investment efforts.

Terna slides

Terna SpA, owner of Italy's national power grid, said third-quarter profit fell 20 percent because of rising financial costs, including an increase in debt.

Net income dropped to 83.5 million euros ($121 million), the Rome-based utility said today in a statement distributed by the Italian stock exchange. That beat the 76 million-euro median estimate of five analysts surveyed by Bloomberg News.

Oerlikon rises

OC Oerlikon Corp AG, a supplier of equipment to makers of microchips and solar-panels, rose for a fifth day on speculation the Swiss company may sell shares of its new solar division.

Oerlikon gained 39 Swiss francs, or 6.5 percent, to 635 francs as of 11:33 am in Zurich trading. The stock has climbed 15.4 percent since last Tuesday, boosting the Pfaeffikon, Switzerland-based company's market value to 9 billion Swiss francs ($7.98 billion).

Bloomberg News-Agencies

(China Daily 11/14/2007 page16)