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Stronger US dollar forces oil to fall towards $59 a barrel
2015-03-09 01:00:00| Offshore Technology
The price of Brent crude oil dropped towards $59 a barrel on Monday as a result of a stronger US dollar and a record high in oil inventories.
Vimpelcom revenues fall 21% in Q4 on stronger dollar
2015-02-25 08:49:00| Telecompaper Headlines
(Telecompaper) Mobile operator Vimpelcom reported fourth-quarter revenues down 21 percent year-on-year to USD 4.39 billion, hurt by the weaker ruble in its home market Russia and other negative forex effects. EBITDA was still up 58 percent USD 1.60 billion, due to a one-time charge in the year-earlier quarter for a fine in Algeria. The company's net loss narrowed to USD 935 million from USD 3.86 billion, after fewer impairment charges. Vimpelcom wrote down the value of operations in Ukraine, Laos and Pakistan for USD 1.1 billion, mainly due to weak macroeconomic conditions. Excluding exchange rate effects, Vimpelcom reported revenues down 3 percent, service revenue down 2 percent, and EBITDA falling 8 percent. Over the full year, the company met its outlook for a single-digit decline in sales and EBITDA. Operating cash flow was down 5 percent to USD 4.063 billion in the 12 months, and capex reduced 2 percent to USD 3.91 billion. Net debt was still slightly higher than targeted, at 2.5 times EBITDA. Vimpelcom said it expects the economic conditions to remain difficult in 2015. The operator forecast a further fall in revenue, with a low single-digit organic drop in service revenues. The EBITDA margin is expected stable to down around 1 percent point from 40.6 percent in 2014. Capex is forecast at around 20 percent of revenues again, and Vimpelcom raised is leverage target to 3.2 times EBITDA, or 1.7 excluding its Italian operations, due to the currency fluctuations.
Tags: fall
dollar
stronger
revenues
Nano-laminated metals made ten times stronger
2015-02-18 17:31:57| Extremetech
A new form of nano-engineered coating can dramatically improve the physical properties of metals by creating millions of layers of protection.
Tags: made
times
stronger
metals
Waste Management Posts Much Stronger Profits
2015-02-18 11:00:00| Waste Age
Waste Management Inc. reported much stronger net earnings for its fourth quarter and year. read more
Tags: management
posts
waste
stronger
Apartment REITs Grow Stronger
2015-02-17 14:00:00| National Real Estate Investor
More renters meant more profits for multifamily REITs, which provided tremendous returns to their investors over the last year. The outlook for REITs is also good, with demand expected to stay strong for the foreseeable future, according NAREIT, as an improving demand from investors. read more
Tags: grow
stronger
apartment
reits
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