Weekly News (1st -6th Nov )

Yamaha swings to profit of

7.3-bn yen in Q3

Japan .s Yamaha Motor Co today

posted a profit of 7.3 billion yen

(USD 90 million) for the July-

September quarter of the year on

robust motorcycle sales in Asia

region coupled with cost cutting

measures.

Yamaha said its profits were derived

from increased sales, mainly

motorcycles in Asia, cost reductions realised through

profitability structure reform,

reduced expenses, and an increase in marginal profit as a result of a recovery

in production in Japan.

The company's sales rose to

311.2 billion yen for the third

quarter ended September 30,

2010 from 279.1 billion yen year-

earlier. Thus registering a

growth of 11.5 per cent.

Videocon India Q2 net profit

up 7 pc to Rs 159.9 cr

Diversified business firm

Videocon Industries today

posted a 7.1-per cent increase

in its net profit to Rs 159.92

crore in the quarter ended

September 30, over the same

period last fiscal.

The company had a net

profit of Rs 149.26 crore in

the September 30, 2009,

Videocon Industries said in

a filing to the Bombay Stock

Exchange.

During the quarter, the

company's income from

operations stood at Rs 2,985.46

crore, a 13.89-per cent increase

from Rs 2,621.24 crore

recorded in the corresponding

period last fiscal.

Nigeria willing to raise oil

exports to India: Deora

Nigeria, Africa’s largest crude oil and gas

producer, is expected to increase its oil exports

to India besides supplying liquefied

natural gas (LNG), a senior oil ministry

official said.

“ Nigeria is our friend and willing to help us in

meeting our growing energy requirements,” Oil Minister Murli Deora said at Petrotech-2010 after a

meeting with Nigerian President’s special

adviser Emmanuel O Egbogah. At the bilateral

meeting, Mr Deoradiscussed the possibility of state-run Gail India

and Petronet LNG picking up a stake in the $8-billion LNG project at Brass in the Niger delta.

State-run Nigeria National Petroleum Corp has a 49%

stake in Brass project. French energy major Total,

Eni of Italy and ConocoPhillips hold 17%

stake each. India also wants Nigeria to export

additional crude oil to India,

Gems and jewellery exports

continue to glitter

India's gems and jewellery exports grew

by 56 per cent to USD 4 billion in September 2010, compared to a

year-ago period, thanks to the rising demand from markets like the Middle East and US.

The exports stood at $2.6 billion in September 2009, according to the Gems and Jewellery Export Promotion

Council (GJEPC) data. "There is a good demand for gems and

jewellery items from the Middle East and US

markets," GJEPC Chairman Rajiv Jain said.

The UAE is the major market for India's gems and jewellery

exports followed by the US and Europe.

Exports of gold jewellery saw a maximum growth of 113 per

cent year-on-year followed by non-gold jewellery 72 per cent and cut and polished diamonds 36 per cent, as per the GJEPC

data.

Toyota posts first half net

profit of $3.6 bn