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India's Essar Oil says Rosneft stake buy in advanced due diligence

MUMBAI, Feb 9- Russia's top oil producer Rosneft is still carrying out due diligence to buy a stake in Essar Oil Ltd, the Indian group which runs India's second biggest private sector refinery said on Tuesday. Last week, Bloomberg reported that the company was in talks with Saudi Arabia's biggest oil company Saudi Aramco and National Iranian Oil Company to sell a...
Source: Reuters | By: Promit Mukherjee
Israel Chemicals posts 4Q profit

TEL AVIV, Israel _ Israel Chemicals Ltd. on Tuesday reported fourth-quarter profit of $96 million. The Tel Aviv, Israel- based company said it had net income of 8 cents per share. For the year, the company reported profit of $509 million, or 40 cents per share.
Source: The Associated Press
UPDATE 1-Goodyear profit beats on higher sales volume, lower costs

Tire unit volumes rose 7 percent to 42.1 million units in the quarter ended Dec. 31, partly due to the acquisition of Nippon Goodyear Ltd in Japan, Goodyear said. The company posted a net loss of $380 million, or $1.42 per share, attributable to shareholders for the fourth quarter. Goodyear earned $2.13 billion, or $7.68 per share, a year earlier, including a $2.2...
Source: Reuters
Compugen reports 4Q loss

TEL AVIV, Israel _ Compugen Ltd. on Tuesday reported a loss of $472,000 in its fourth quarter. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share. Three analysts surveyed by Zacks expected $4.3 million.
Source: The Associated Press
Coca-Cola to fully refranchise N America bottling operations by 2017

Feb 9- Coca-Cola Co said it would refranchise all its North America bottling operations, including its 39 cold-fill production factories, three years earlier than expected, as the soda maker looks to cut costs. The company said in April it would refranchise only two-thirds of its bottling operations in North America by 2017, with all bottling operations in the...
Source: Reuters
Ingersoll-Rand tops Street 4Q forecasts

CO. DUBLIN, Ireland _ Ingersoll-Rand PLC on Tuesday reported fourth-quarter earnings of $233.5 million. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 93 cents per share. For the current quarter ending in April, Ingersoll-Rand expects its per-share earnings to range from 33 cents to 38 cents.
Source: The Associated Press
Allot Communications reports 4Q loss

HOD-HASHARON, Israel _ Allot Communications Ltd. on Tuesday reported a loss of $10.4 million in its fourth quarter. The Hod-Hasharon, Israel- based company said it had a loss of 31 cents per share. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 4 cents per share.
Source: The Associated Press
UPDATE 1-Monkey business: As China tourists tighten belt, retailers face unhappy New Year

*Sydney, Hong Kong store owners report sagging business. SYDNEY/ HONG KONG, Feb 9- Watching a lone browser in his Sydney Chinatown shop, Bing Chen is worried business is being squeezed this Lunar New Year by what's ailing the world economy at large- the weakest Chinese economy in 25 years. "Our customers have halved," said Chen, standing by neatly stacked shelves at his...
Source: Reuters | By: Jarni Blakkarly and Stella Tsang
Canadian energy companies sell "jewels" to keep oil sands afloat

CALGARY, Alberta, Feb 9- Faced with record low prices for heavy crude, Canadian energy companies are sacrificing other parts of their business to keep higher-cost oil sands production going and safeguard the billions already invested in these multi-decade projects. Although the move to support higher-cost production seems counterintuitive, oil sands...
Source: Reuters | By: Nia Williams and Euan Rocha
China's tech giants vie for 'lucky money' windfall

Tencent and Alipay hope to snare the largest share of the ballooning e-hongbao market.
Source: | By: Qian Chen | Special to