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Brazil's Petrobras tells analysts it may need further capex cuts - Itau BBA
2016-01-15 16:23:25| Oil & Gas - Topix.net
Jan 15 Brazil's state-run oil company Petroleo Brasileiro SA is pressing ahead with the sale of $15 billion in assets but may need to make further cuts to its investment plan depending on oil prices, the company told analysts on Friday according to a client note from ItaAo BBA. Petrobras did not rule out help from the government but said it was not on the table right now and would be a last resort, ItaAo BBA said.
Apple supplier TSMC raises capex at least 10 percent partly on
2016-01-14 12:54:21| Semiconductors - Topix.net
Apple Inc supplier Taiwan Semiconductor Manufacturing Co Ltd on Thursday said it would raise capital expenditure by at least 10 percent from 2015's four-year low, partly driven by growth in the global smartphone market. The world's biggest contract chipmaker estimated 2016 capex of $9 billion to $10 billion and said it expects global smartphone shipments to expand 8 percent.
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UPDATE 1-Canada's Encana cuts 2016 capex by more than a quarter
2015-12-14 13:52:33| Oil & Gas - Topix.net
Dec 14 Canadian oil and natural gas producer Encana Corp , responding to a sharp drop in oil prices, has cut its 2016 capital budget by more than a quarter to $1.5-$1.7 billion. The Calgary-based oil producer, which has accelerated its spending in the Permian basin in Texas, said it would direct about half of its capital budget for the next year to Permian.
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TSMC Slashes 2015 Capex by over 25% to $8 Billion
2015-10-16 03:05:09| Semiconductors - Topix.net
Taiwan Semiconductor Manufacturing Co. , which for the first time this year led the world's chipmakers with the largest announced capital expenditure, will cut the 2015 budget by more than a quarter to $8 billion after demand slumped.
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MTS to cut capex in 2016-17
2015-10-15 17:19:00| Telecompaper Headlines
(Telecompaper) Russian mobile operator MTS plans to reduce capital expenditure by around RUB 5 billion annually during the next two years, CEO Andrey Dobovskov told Vedomosti. Capital expenditure will amount to approximately RUB 85 billion in 2016 and around RUB 80 billion in 2017. Capital expenditure can be reduced as the operator completes the deployment of the GPON network in Moscow by its fixed subsidiary MGTS. The roll-out should finish this year. MTS said it doesn't plan to expand its GSM network and will also slow down the LTE network expansion. Capital expenditure had been high more recently due to the need to comply with licensing requirements. In August MTS increased its guidance for capital expenditure this year to RUB 92 billion from an earlier estimate of RUB 85 billion. This is due to expected higher spending on the 3G roll-out in Ukraine.
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