Greece Concludes Tender for Sale of Skaramangas Shipyard
Greece on Wednesday concluded a tender for the sale of Hellenic Shipyards SA, the country's biggest shipyard which has been under special administration, its finance minister said.The debt-laden shipyard, based in Skaramangas near Athens, offers maintenance services to the Greek navy and the sale has been part of Greek government drive to overhaul its loss-making Greek defense industry and boost the country's defense capabilities.
Hong Kong's Richest Man Li Ka-shing Retires
Li Ka-shing to retire after annual general meeting on May 10; will stay on as senior adviser to the group. Hong Kong's richest man, Li Ka-shing, announced his retirement as chairman of CK Hutchison Holdings Ltd on Friday, bringing to a close a rags-to-riches story that made him a hero in the freewheeling capitalist hub. Li, 89, will retire after the annual general meeting on May 10, the ports-to-telecoms conglomerate said in a filing to the Hong Kong bourse, passing the mantle to his eldest son Victor Li, who was named successor several years ago. While Hong Kong's adoration of Li Ka-shing and his story has waned somewhat in recent years, he is still stepping aside from one of Asia's most outward-looking empires, spanning more than 50 countries and 323,000 employees at last count.
Thuraya Appoints Chenel CFO
Thuraya Telecommunications Company, the leading international mobile satellite services (MSS) operator has announced the appointment of Patrick Chenel as Chief Financial Officer. In addition to leading Thuraya’s financial management, planning and reporting functions, he will also be responsible for maintaining and developing the Company’s relationships with the relevant financial institutions and strategic suppliers across the globe. Prior to joining Thuraya, Patrick was the Chief Financial Officer for the real estate arm of the Qatar Investment Authority, Qatari Diar.
Qatar Navigation Reports Q1 Results
Qatar Navigation Q.S.C. announced today financial results for the three months ended March 31, 2011. • Operating revenues of QR 533 million vs. same period in 2010 of QR 431 million. This represents a 24% increase year over year. • Operating Profit of QR 157 million vs. same period in 2010 of QR 118 million. This represents a 33% increase year over year. • Net Profit of QR 262 million and QR 2.28 earnings per share, vs. same period in 2010 of QR 771 million and QR 6.73 per share.
