Partner Comms Q3 net up

Partner Communications, Israel's second-largest mobile phone operator, reported a 38 percent rise in quarterly profits and expressed optimism that it would weather an economic downturn in 2009.

While it reiterated its full-year 2008 outlook and said the fourth quarter is typically weaker, Partner suspended a stock buyback plan due to tough market conditions. The company operates under the brand of Orange and is 52 percent owned by Hong Kong's Hutchison Telecommunications International Ltd, which is controlled by Hutchison Whampoa.

New climate change fund

Swiss private bank and asset manager Pictet & Cie plans to launch a new climate change fund next year, offering investors another option to diversify as the global financial crisis hits traditional investments.

The new fund, expected to be launched in the first quarter of next year, will be Pictet's fourth to focus on the climate change theme. The bank's Pictet Asset Management arm oversaw about 78 billion euros as of the end of June.

Sohu to boost spending

Mainland media firm Sohu.com Inc will boost spending on content services in a bid to attract more advertisers, the company's top executive said yesterday, adding it is not being pinched by the economic slowdown.

But Charles Zhang, the chairman and chief executive officer of Sohu, said the Internet sector will be less affected by economic woes than other parts of the economy, asserting that online marketing is a cost-effective option for cash-strapped companies.

Reuters

(HK Edition 11/06/2008 page2)