Business Brief

Business Brief

Oil Prices Rise : World oil prices rose in Asian trade on Thursday after a US government report showed American crude reserves sank for the fourth week in a row.
New York’s main oil futures contract, light sweet crude for July delivery, was 57 US cents higher at $136.95 a barrel.
The contract had jumped $5.07 to close at $136.38 per barrel on the New York Mercantile Exchange on Wednesday, after spiking as high as $136.80.

Temasek Disposes of Indosat Stake : Singapore Technologies Telemedia (STT), a wholly owned unit of state-linked investment firm Temasek Holdings, has sold off its interest in Indonesian telecom firm PT Indosat to business partner Qatar Telecom, the company said.
Qatar Telecom will pay US$1.8 billion for the 40.8-percent stake in PT Indosat held by Asia Mobile Holdings, a joint venture firm between the Qatari outfit and STT, the company said.
The disposal of the stake came after Indonesia’s competition watchdog ruled that Temasek had broken the country’s anti-monopoly laws and ordered the Singapore investment firm to divest of its holdings in either PT Indosat or PT Telkomsel.

Comments are closed.