Nokia Siemens Networks has signed a contract with PT Hutchison CP Telecommunications to strengthen its GSM/WCDMA network coverage in the islands of Java and Sumatra, and roll out GSM core networks in Kalimantan and Sulawesi. This contract supplements HCPT’s first network contract with Siemens Indonesia in 2005. Nokia Siemens Networks has built a state-of-the-art GSM/WCDMA

Strong economic growth across the CIS region in the past two years has resulted in the emergence of many Russian companies with the appropriate business models, experienced management and critical size that help them qualify for debt issuance and other transactions in the international capital markets, according to a Moody’s Investors Service Special Comment. Ratings

European stocks were slightly lower around midday on Friday as weakening shares of banks and consumer product groups overshadowed a rally in mining stocks buoyed by upbeat brokerage comments. Pharmaceuticals were on the upside, with Sanofi-Aventis up 2.5 %, benefiting from results from a study that showed the company’s insulin drug Lantus controls blood sugar

Moody’s Investors Service has changed the outlook on the B3/Not Prime foreign currency deposit ratings of the four rated Lebanese banks – Bank Audi, BLOM Bank, Byblos Bank and Bank of Beirut – to ‘stable’ from ‘negative’ a day after the rating agency changed the outlook on Lebanon’s foreign currency deposit ceiling and the debt

Lehman Brothers Holdings Inc has ample liquidity to run its business and will generate positive earnings and grow book value per share this year, said Citigroup analyst Prashant Bhatia, who upgraded the stock to “buy” from “hold” on valuation. “With $34 bln in liquidity at the parent company, the ability to get access to over

U.S. personal income rose more than expected in February as the economy teetered on the brink of a possible recession, while both personal spending and a key price measure increased only slightly, a government report showed on Friday The Commerce Department reported that February personal income rose by 0.5 percent, exceeding a forecast of 0.3%

U.S. Treasury Secretary Henry Paulson said on Friday that an economic stimulus program that will put $168 bln into consumers’ hands this year and next could help create hundreds of thousands of new jobs. “We know they’re going to be helpful,” Paulson said on CNN television. “These (tax rebate) checks should be a big part

British Airways cancelled a fifth of flights from its new $8.6 bln terminal at London‘s Heathrow airport on Friday as chaos from its shambolic opening spilled into a second day, according to Reuters. BA said it dropped the short-haul flights to “create more capacity” as it attempted to recover from the mess left by Thursday’s