* China prepares to unveil new leaders
* China calls for energy conservation
* YPF profits plunge on higher costs
* Argentine judge freezes Chevron assets
* Strikes hit AngloGold investment plans
* MegaFon posts 20 pct rise in earnings ahead of IPO
* Kingfisher: losses widen as company sits in ‘holding pattern’
* BG Group dips on Egypt supply shortfall
* Permira completes Macau withdrawal
* Dana Gas in bond restructuring deal
* Essar to plan $4.8bn debt refinance
* China may make first high-speed train orders since crash
* Markets: mostly down
China prepares to unveil new leaders
President Hu Jintao opened the Chinese Communist party’s 18th congress on Thursday morning, as the country takes the final step towards unveiling its next generation of leaders.
China calls for energy conservation
President Hu Jintao on Thursday called for a “drastic reduction” in China’s consumption of energy, water and land, and announced caps for energy and water use in an effort to conserve resources.
YPF profits plunge on higher costs
YPF, Argentina’s renationalised energy company, posted third quarter net profits 51 per cent lower than a year earlier, although analysts saw a bright spot in the potential development of its vast Vaca Muerta shale resources .
Argentine judge freezes Chevron assets
An Argentine judge has ordered the immediate freeze of the assets of Chevron, the US oil major, in the South American country to enforce an Ecuadorean court order awarding $19bn in damages to Amazonian villagers over environmental contamination.
Strikes hit AngloGold investment plans
AngloGold Ashanti, which has been hit by weeks of industrial action, said on Thursday it was cutting its capital expenditure by $200m this year, reviewing its corporate costs and the timing of projects in Mali and the Democratic Republic of Congo.
MegaFon posts 20 pct rise in earnings ahead of IPO
Russia’s No.2 mobile phone operator MegaFon, which plans to float shares in London and Moscow, reported on Thursday a 20 percent year-on-year rise in third-quarter net profit, helped by lower costs and increased sales, Reuters reports.
Kingfisher: losses widen as company sits in ‘holding pattern’
Another quarter, another bad loss for India’s embattled Kingfisher Airlines. Millionaire liquor baron Vijay Mallya’s carrier reported a net loss of $138.5m in the quarter ended in September, widening from the $86.1m loss during the same quarter last year. Revenues were just $36.8m, down 87 per cent from $284.5m, according to results on Thursday.
BG Group dips on Egypt supply shortfall
BG Group fell to a two-year low on Wednesday as fears grew about its Egyptian business, the company’s biggest source of production. BG lost 3.9 per cent to £10.55 following news it would cut liquefied natural gas shipments to two customers in Chile due to production shortfalls in Egypt.
Permira completes Macau withdrawal
Permira has completed its exit from Macau’s casino industry with the sale of its remaining holding in Galaxy Entertainment Group, which comes as corporate results confirm a sharp slowdown in the world’s largest gaming market by revenue.
Dana Gas in bond restructuring deal
UAE energy company Dana Gas has reached an agreement in principle for the restructuring of its Islamic bond after it failed to repay $920m owed on October 31.
Essar to plan $4.8bn debt refinance
Essar Group, controlled by billionaire Indian brothers Shashikant and Ravikant Ruia, is in talks with banks to refinance as much as $4.8bn of debt, two people with direct knowledge of the matter said.
China may make first high-speed train orders since crash
China may issue at least 38.4bn yuan ($6.2bn) of high-speed train tenders within the next two months, ending a more than yearlong hiatus following a fatal crash.
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Hang Seng down -2.41% at 21,567
Shanghai Composite down -1.63% at 2,072
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S&P CNX Nifty Index down -0.37% at 5,739
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