Top Headlines May 2011 - part 5
BUSINESS May 20, 2011 | 11:32 AM
- Coca-Cola invests $10 million in the construction of a bottling plant in Somaliland
- Somaliland is emerging as an important economic hub in North Africa-Middle East
- Plant is scheduled to be operational by September 2011
Drinks giant Coca-Cola has announced plans to construct a bottling factory in the self-declared sovereign state of Somaliland.
The world’s largest soft-drink maker said that economic growth and stability in the breakaway region makes it an attractive business prospect. So far some $10 million has been invested in the venture.Read more »
FINANCE May 20, 2011 | 11:26 AM
- BP unable to reach agreement with AAR and Rosneft to gain access to oil reserves in Russia
- Deal involves Rosneft taking 5% of shares from BP, with BP getting 9.5% of shares from Rosneft
- AAR half owner of joint venture TNK-BP in Russia; says agreement breaks exclusivity contract
Oil Giant BP is trying to come to an agreement with its Russian partner Alfa Access Renova (AAR) and Rosneft over a deal to exchange shares. Although the deadline expired on May 16, 2011, BP is still trying to set the deal in motion, which would allow the British oil leader to tap into lucrative oil reserves in Russia.
AAR, however, has an existing contract stating its exclusivity with BP, and took its complaints to court in February of this year – and won. AAR recognizes the benefits of the current deal and wishes to continue talks as long as the existing agreement is not broken.Read more »
WORLD May 20, 2011 | 10:47 AM
- Namibia increases stake in DeBeers to 50% from 15%
- Namibia Government using money from debt to pay for stake
- DeBeers names Phillippe Mellier as new CEO
The government of Namibia will increase its stake in diamond giant DeBeers through the purchase of $53.3 million in shares in the diamond mining company, according to Mining Review.
Debeers mines the largest area globally containing diamond deposits. This area is located off of Namibia's shores.Read more »
WORLD May 20, 2011 | 10:45 AM
- Scientists are uncertain that data and test results for radiation connected to airport scanners is accurate; TSA says that machine radiation is negligible and safe
- Children, pregnant women and individuals sensitive to X-rays could be at risk
- Scientists insist further testing is needed to protect passengers
It is possible that the X-ray systems used for airport security scanning are not safe, according to scientists who specialize in imaging research. Data provided and claims made by the US Transportation Security Commission (TSA) that the machines are safe are being questioned.
The scanners in question allow TSA officials to search passengers for illegal items. Scientists fear that these scanners may be dangerously exposing people to radiation. About 5% of the population is extremely sensitive to X-rays, though those individuals are not readily identified.Read more »
BUSINESS May 20, 2011 | 9:52 AM
- Airbus will increase production of A320s per month from 36 to 42 before end of the year
- Boeing also plans to increase production, upping output of its 737 planes from 31 to 38 by April 2013
- Sales for the aircraft industry are predicted to reach $1.7 trillion by 2021
European plane manufacturer Airbus plans to increase the number of A320 planes that it produces from about 36 to 42.
The transition will occur in two phases, with an increase to 38 planes and another increase to 40 planes. The manufacturer plans to hit its goal of 42 planes per month before the end of the fourth quarter of 2011.Read more »
FINANCE May 19, 2011 | 5:47 PM
- More than $1 million invested in ore
- Investment in microscope will enhance ore analysis
- Mineral industry has predicted $4.7 billion shipment value for 2011
The Research & Development Corporation of Newfoundland Labrador and the Iron Ore Company of Canada have invested more than $1 million in ore.
The investment has allowed Memorial University of Newfoundland to acquire a Field Emission Scanning Electron Microscope, which will enable researchers to identify minerals, and enhance them after the minerals have been mined.Read more »
BUSINESS May 19, 2011 | 5:11 PM
- Nextant Aerospace’s Williams FJ44-3AP engine – to be used for remanufactured 400XT – has received FAA certification
- New engine is lighter, more fuel efficient and requires less maintenance than the JT15D-5 engine
- Nextant Aerospace introduced the idea of remanufacturing to the business jet sector
Nextant Aerospace, the company that introduced the concept of aircraft remanufacturing, has been working toward the release of the 400XT, a remanufactured Beechjet 400A/XP.
The turbofan Williams FJ44-3AP engine will be used in the 400XT. It has now been granted Federal Aviation Administration (FAA) certification, marking a significant hurdle for engine makers. According to company president Jim Miller, the FJ44-3AP is a massive leap forward and is one of the most important components of the 400XT.Read more »
BUSINESS May 19, 2011 | 12:07 PM
- Mitsubishi develops widescreen projector targeted for businesses and schools
- Key benefits: brighter picture, multiple computer connections and four-split screen option
- New Electronic Media Production Center to launch in India
Mitsubishi Digital Electronics in America has developed a new wide-screen projector targeted for academia and businesses.
The WXGA WD57OU projector features a bright 3,500 lumen with pictures so bright and clear it is no longer necessary to turn off the lights to view the picture, which is more convenient for teachers and professors. As the lamp lasts for more than 6,000 hours in low mode, educators can prepare their presentations before class and have the projector running to begin presentations immediately at the start of the session.Read more »
WORLD May 19, 2011 | 11:58 AM
- NASA will launch Aquarius satellite on June 9 to monitor oceans
- Ocean salinity will be recorded to determine water cycle and climate changes
- Aquarius will orbit 408 miles above Earth, producing monthly estimates based on seven-day maps
- European and American data from separate missions will be compared and shared among global scientific community
Three months after the failed launching of NASA's satellite Glory, NASA has announced plans to launch an ocean-monitoring satellite from a Delta 2 rocket at the Vandenberg Air Force Base located off the coast of California on June 9.
Appropriately named Aquarius, meaning “water bearer”, the satellite will be the very first satellite to measure the salt levels of every body of water in the world.Read more »
ECONOMY May 19, 2011 | 11:45 AM
- Washington Governor Chris Gregoire wants $3 million in federal Workforce Investment Act funds to go to aerospace training programs
- Gregoire hopes training will benefit 228,000 jobless in Washington
- Boeing plans to add thousands of new workers in next few years
Governor Chris Gregoire of Washington wants to use $3 million in federal funds to go toward aerospace training in her state. Using the Workforce Investment Act funds, Governor Gregoire wants to re-train 500 workers and lead to the hiring of many more by encouraging education in aerospace technology and engineering.
Governor Gregoire has discretion over how to use 10% of the state's Workforce Investment Act money. This will be the first time she has ever used all of her discretionary money in one industry.Read more »