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DUBAI - After the 2002 surge in oil prices, most oil-exporting countries started
setting up dedicated investment funds exclusively for the oil surplus they
had earned. They were further encouraged when in 2006, the price of oil
increased from an average of $28 per barrel to $80 per barrel.
CAMBRIDGE, Massachusetts - Mobile penetration in Kenya’s telecom market will grow by 95 percent over
the next five years, a market growth that will reflect intense competition
among network operators and lead to a rapid uptake of mobile data services,
according to a new report from Pyramid Research (www.pyr.com), the telecom
research arm of the Light Reading Communications Network
(www.lightreading.com).
LONDON - SYSTIME www.SYSTIME.net, a CMS Group Company and the largest
Oracle JD Edwards practice globally, has recently announced commencement of
their France operations. This investment is aligned to their strategic
decision to expand their European business operations in the ERP space.
HOUSTON - Far East Energy Corporation (OTC Bulletin Board: FEEC) announced the
formation of a strategic alliance with Arrow Energy International Pte Ltd.
(”Arrow”), the Singapore-based international arm of Arrow Energy Ltd., a
large Australian coalbed methane (”CBM”) producer. As part of the strategic
alliance, under a farm-out agreement, Arrow will pay Far East US $8 million
in cash, and Far East will assign to Arrow a 75.25% share of Far East’s
participating interest in the Qinnan Production Sharing Contract (”PSC”) to
develop CBM resources in the Shanxi province of China. The farm-out agreement
is subject to certain conditions precedent, including approval by appropriate
Chinese authorities. Arrow will become the operator under the Qinnan PSC and
fund all exploration costs during the exploration period, including Far
East’s remaining 24.75% participating interest, until Arrow has incurred up
to US $30.0 million of total spending on exploration. If the Chinese
authorities ultimately approve an Overall Development Plan (”ODP”) for
development of all, or a portion of, the block, Arrow will pay Far East a
bonus of US $8 million.
BERLIN - Frank Sliwka to Lead the New Berlin-based Team in the Production of
both GDC Europe and the eSports Conference
TEL AVIV, Israel - The Value of the First Phase of the Project is More Than 150 Million
Dollars
LONDON - Northrop Grumman Corporation (NYSE: NOC) announced that its air traffic
management systems subsidiary, Park Air Systems, will be showcasing its
latest air traffic control systems products and capabilities at the ATC
Global 2009 exhibition.
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