The US markets closed higher after the Federal Reserve announced no change in interest rates. The Dow closed up 41 points or 0.4% at 10,236, the S&P500 was up 5 points or 0.5% at 1097 and the Nasdaq was up 17 points or 0.8% at 2221.
Archive for January, 2010
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World Reach Limited (WRR) announced today that its wholly owned subsidiary, Beam Communications Pty Ltd, has entered into a distribution agreement with Spacenet Communications Services de Mexico SA de CV as a strategic reseller for Beam products in this new market for Iridium products.
Spacenet has a sound reputation providing integrated communication solutions to the Mexican market, including a range of voice and data services and applications, developed to meet customized communications needs. Spacenet will serve established and emerging markets in Mexico such as maritime, leisure and commercial fishing, aviation, oil and gas, utilities, agriculture, emergency communications, mining, transportation, government/military and heavy construction.
Beam’s product range enables Spacenet to gain access to the widest range of Iridium products available, thus providing a suite of products and services to immediately support voice, data, telemetry and tracking opportunities.
Beam Communications Pty Ltd is a wholly owned subsidiary of World Reach Limited; The Beam Communications subsidiary was established in 2002, making a substantial investment in the development and manufacturing of Remote Satellite Communications solutions for the global telecommunications market. Now one of the leading global manufacturers of Iridium-based satellite communications equipment, Beam offers the widest range of Iridium solutions across all market segments, and is particularly focused on the exploitation of the newly released Iridium data module targeted at asset tracking and other applications.
UGL Limited (UGL) today announced that it has signed a Master Service Agreement with Westpac Banking Corporation Limited for the integrated management of Westpac’s Australian property, real estate, facilities and capital works services.
UGL Services business has been contracted for an initial five years which can be extended to a total of nine years. The new agreement is in addition to property related works which UGL Services has been providing to Westpac and St George Banks in Australia for over four years. UGL Services now manages over 865,000 sqm2 of space on behalf of Westpac nationally and has a team of over 120 professional resources dedicated to delivering these services.
The new contract is regarded as the most advanced end-to-end offering in the property and outsourcing sector and includes: general services, real estate services, facilities management, including client services and critical site management, data centres, workplace management, program management, finance and data management, contract governance and performance management, and transition works. UGL Services was awarded the contract following an independently conducted market procurement exercise, and was successful due to its scale, market leading systems, innovative services, its ability to provide a broader range of services under the one contract, and its proven track record in the financial services sector.
UGL’s Managing Director and CEO Richard Leupen said that UGL Services continues to benefit from the growing trend for government departments and large blue chip organisations to outsource their non-core activities in order to lower their cost base. He said UGL Services has a successful track record in the financial services sector and this new partnership with Westpac confirms the group’s position as a market leader in outsourced property and BPO services.
Leighton Asia (LEI), in a joint venture with Able Engineering Co Ltd, has secured a A$245 million contract to design and construct phase one of the new Tung Chung Hospital on Lantau Island, Hong Kong. North Lantau is one of the strategic growth areas under planning in Hong Kong. To cater for
the development of Lantau Island (including Tung Chung), the growth of the local population and the fact that Hong Kong International Airport and some other major tourist facilities are situated on Lantau Island, the Government of HKSAR decided to develop an acute hospital in Tung Chung, a new Town in North Lantau Island. The hospital is being developed by the Architectural Services Department of the
Government of HKSAR and the contract works includes the design and construction of the eight storey, 160 bed hospital block together with associated building services and external works. The construction floor area of the building is approximately 43,500 square metres. When completed, phase one of the Tung Chung Hospital will provide 80 beds for in-patient emergency medicine, 80 beds for in-patient extended care, ambulatory care services including 20 day beds for surgeries/procedures, community care services, diagnostic and treatment services, and support services including pharmacy and administrative services. The contract works will commence in January 2010 with completion scheduled for mid 2012.
Hamish Tyrwhitt, Leighton Asia’s managing director said “Leighton Asia has completed many significant public building projects in Hong Kong and has a longstanding working relationship with the Architectural Services Department. We value this relationship and looking forward to providing another important facility for our community.”
Presented by Michael Hevern
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General Advice Only
In this morning s wrap
SP500: down 0.4%
US: Obama Wants to Cut Gov t Spending for 3 Years;
Consumer Confidence Up Most Since Sep 08
Dollar Index: New Highs?
A$ down 89.84
FTSE: up 0.3%
UK: Looking For Support;
DAX up 0.7% & CAC up 0.7%
CHINA: down 2.4% – Volatility Continues
China: Tightening Money Flow; Asset Bubble Risk!
Hang Seng down 2.4%;
Oil: up 0.1% ($75)
Concerns Over Inventory
Gold: up 0.3% ($1094)
SPI Futures down 33 or 0.7%
Access Economics Upbeat on 2010;
CPI Data Today
BHP RIO JV facing European Regulators
WOW 2Q Sales
OSH Dec. Production figures
CPI data today
RBA rate rise more likely
Weaker across the board
ASX to open marginally weaker
US & UK looking for support (volumes rising)
The US markets closed slightly lower after being higher early in the day. The Dow closed down 2 points at 10,194, the S&P500 was down 4 points or 0.4% at 1092 and the Nasdaq was down 7 points or 0.3% at 2203.