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Halliburton Co and Baker Hughes Inc have agreed with the U.S. Department of Justice to extend the date of the department's review of Halliburton's acquisition of Baker Hughes, a deal that would create an oilfield services behemoth. Halliburton has also proposed to "divest additional businesses of the companies" to get regulatory nod for the deal globally, the companies said on Friday. Several big deals, including Comcast Corp's $45 billion offer for Time Warner Cable Inc, have been scuttled in recent months amid indications that they would be blocked by antitrust regulators. Halliburton's $35-billion offer for Baker Hughes is being scrutinized by regulators in several countries as the companies have overlapping businesses in the United States, Asia and Europe.

Thuraya Telecommunications Company has announced the appointment of Mr. T. Sanford Jewett as their new Vice President, Marketing. Mr. Jewett brings his expertise in international markets to Thuraya and will play a major role in leading the expansion of Thuraya’s global marketing strategies. Sanford has over 25 years of experience in the wireless, internet and satellite industries. His experience includes an extensive focus on introducing technology companies into new markets. Before joining Thuraya, Mr.

According to Bloomberg.com, Asian stocks rose for the first time in four days, led by financial shares, after China Merchants Bank Co. doubled its profit and Citic Securities Co. said net income jumped more than fivefold. China Construction Bank Corp. climbed the most in two weeks in Hong Kong. Fubon Financial Holding Co. led Taiwanese financial companies higher after the Economic Daily News reported they may be allowed to buy stakes in China's banks. Reliance Industries Ltd. paced gains among energy shares after saying it may join rivals to seek oil in India. The MSCI Asia Pacific Index added 0.1 percent to 153.10 as of 7:17 p.m. in Tokyo, following a three-day, 3.4 percent drop. About six stocks climbed for every five that retreated.

In a move affirming their commitment to sustainable development and the environment, the Panama Canal Authority (ACP) announced today that Administrator Alberto Alemán Zubieta and Juan Hector Díaz, Director for Environment and Security, attended the World Business Council on Sustainable Development's (WBCSD) annual meeting in Washington, D.C., as council member and delegate respectively. They joined chief executive officers and executives of major corporations and businesses, such as: 3M, British Petroleum, Eastman Kodak, Caterpillar, Ford Motor Company, General Motors and Time Warner, all members of the WBCSD. The ACP joined the WBCSD in August 2002.

It's been a rough year for tugmeets. Charleston, Boston, and Portland, whose Musters we've covered in the past, were respectively, skipped, canceled, and postponed. The World Ship Society tells us they'll be back next year with the Boston event, and the Portland muster, pre-empted by Hurricane Charlie, is taking place as this is written. We wish we could have gone north. While there are all sorts of good reasons to attend a tugmatch, we, being media people, think mostly about the good press they bring the business. The way things are shaping-up in such realms as national security, the price of fuel, environmental cleanliness and such, waterborne transport displays more and more advantage for the good of all.

With General Dynamics Corp. and Northrop Grumman Corp. battling for Newport News Shipbuilding Inc. both the Pentagon and Virginia's powerful delegation in Congress are ready to step into the fray over who buys the nuclear-capable contractor. Defense Department officials are likely to weigh the cost benefits of each deal, questioning which combination would lower the price of nuclear-powered vessels for the U.S. Navy. Virginia's elected representatives will eye the acquisition's effect on jobs, and the warfare technology research funds that the shipbuilder, based in Newport News, Virginia, draws into the state. "This thing has become a political game now," said a veteran defense industry antitrust lawyer, who asked not to be named.