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Thyssenkrupp posts heavy Q2 loss
Article | May 20, 2012 - 10:12pm

German industrial giant Thyssenkrupp posted a stiff loss in the second quarter of its fiscal year due to one-off items, but said the worst was behind it, with asset sales under way, it was reported.

German industrial giant Thyssenkrupp posted a stiff loss in the second quarter of its fiscal year due to one-off items, but said the worst was behind it, with asset sales under way, it was reported.

Things also looked much better in the group's core activities, where its operating profit jumped by 61% to €134 million, orders gained 15%, and sales were 7% higher at €10.6 billion.

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S&P cuts Turkey's rating outlook
Article | May 13, 2012 - 10:16pm

Less-buoyant external demand and worsening terms of trade which might entail economic rebalancing, has urged international credit rating agency Standard & Poor to downgrade the outlook on Turkey's credit ratings, reads a press release. 

Less-buoyant external demand and worsening terms of trade which might entail economic rebalancing, has urged international credit rating agency Standard & Poor to downgrade the outlook on Turkey's credit ratings, reads a press release.

Turkish exports in April fell 2.9% from April 2011 to $11.4 billion, according to figures released today by Turkish Exporters Assembly (TIM) President Mehmet Buyukeksi at a press meeting in the Balikesir province in western Turkey.

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Fracking reaches point-of-no-return for EU legislators
Article | May 11, 2012 - 1:55pm

Shale gas is regarded as the solution to reducing green house gas emissions by 80-95% by 2050, but many fear that the price may be too high to pay.

The European Parliament, specifically the Industry Research and Energy Committee, has launched a debate on the industrial and energy aspects of shale gas. It has been recorded that Poland views shale gas as an opportunity for more energy diversity as well as energy security – especially in terms of reducing dependency on third country gas imports.

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Who was Robert Schuman really?
Article | May 9, 2012 - 10:31am

On 9 May, Europe Day, we celebrate the founding father of Europe, Robert Schuman. But many who are affected from what derives from Brussels do not know anything about who this man really was, except that the main European Commission building is named after him.  

Schuman was born in Luxembourg in 1886. He moved to France and in 1919 he was elected to the Chamber of Deputies. A moderate conservative he joined the more liberal Popular Republican Movement in 1940. During the Second World War he was a member of the French Resistance.

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Aker Solutions goes down under
Article | May 6, 2012 - 10:18pm

Aker Solutions has signed a contract with Woodside Energy Limited for the manufacture and supply of electro-hydraulic steel tube umbilicals (EHU) for the Greater Western Flank (GWF) Phase 1 project on the north-west coast of Australia, Norway Post reported.

Aker Solutions has signed a contract with Woodside Energy Limited for the manufacture and supply of electro-hydraulic steel tube umbilicals (EHU) for the Greater Western Flank (GWF) Phase 1 project on the north-west coast of Australia, Norway Post reported.

The scope of work includes project management, design, engineering, manufacturing and verification testing of two steel tube umbilicals at a total length of 17 kilometres.

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OLAF recovers €9m from fraudulent Chinese imports
Article | April 20, 2012 - 9:35am

The European Anti-Fraud Office (OLAF) announced the recovery of €9 nine million in customs duties after an investigation on a network of companies fraudulently importing Chinese tube and pipe fittings via several countries in South East Asia to evade high EU customs duties.

The European Anti-Fraud Office (OLAF) announced the recovery of €9 nine million in customs duties after an investigation on a network of companies fraudulently importing Chinese tube and pipe fittings via several countries in South East Asia to evade high EU customs duties.

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Ankara ready to share steel knowledge with Karachi
Article | March 25, 2012 - 7:49pm

Turkish Steel Exporters Association Chairman Namik Kemal Akinci recently attended a meeting held at the Karachi Chamber of Commerce and Industry (KCCI). 

Turkish Steel Exporters Association Chairman Namik Kemal Akinci recently attended a meeting held at the Karachi Chamber of Commerce and Industry (KCCI). 

Speaking at the meeting, Akinci expressed the readiness of Turkey to share knowledge of steel products with Pakistan, Zaman reported. He said that Turkey also welcomes steel importers from Pakistan to visit Turkey. 

He outlined Pakistan as a significant country for trade and a plenty of opportunities exist here.

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State selling 25% stake in Steel Group SIJ
Article | March 25, 2012 - 8:41pm

The Capital Assets Management Agency (AUKN) published on 16 March an international invitation for bids for the acquisition of 248,655 shares or 25% plus one share in the Slovenian steel group SIJ. The deadline for binding bids is 30 March, Invest Slovenia reported.

The Capital Assets Management Agency (AUKN) published on 16 March an international invitation for bids for the acquisition of 248,655 shares or 25% plus one share in the Slovenian steel group SIJ. The deadline for binding bids is 30 March, Invest Slovenia reported.

The AUKN acted in line with the decision of the government, which would like to see whether it could get more than € 190.73 per share for its stake in SIJ, which is the price that Dilon, the Slovenian subsidiary of the Russian group Koks, paid when it acquired the 55.35% stake in SIJ in 2007.

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