Hindustan Construction Co. Ltd. (HCC) has announced that its JV with SEW Infrastructure and Megha Engineering & Infrastructure (MEIL) has received an order worth Rs 639 crore from Government of Andhra Pradesh, irrigation and CAD Department.

Under the proposed contract, the Joint Venture firms will build Barrage of around 3.5 km with Head Regulator across River Pranahita (PCLIS - Package-III) near Tummidi Hetti Village in Adilabad District of Andhra Pradesh.

Paris/Amsterdam - European aerospace giant EADS on Wednesday reported that its profits in the first half of 2008 had risen more than five-fold, to 403 million euros (635 million dollars), compared to the same period in 2007.

Turnover for the period stood at 19.74 billion euros, up by 7.5 per cent over the first half of last year, EADS said in a press statement.

Earnings before interest, taxes, depreciation, amortization and exceptionals (EBITDA) rose by 70 per cent, to 1.94 billion euros.

Frankfurt - Germany's Postbank AG reported Wednesday a 21 per cent drop in second-quarter earnings on the back of writedowns stemming from the global financial crisis.

Net income dropped to 119 million euros (186 million dollars) from 151 million euros a year ago after Postbank booked write downs totalling 143 million euros.

Postbank's parent, the German mail and logistics group Deutsche Post AG, is considering selling off the group later this year amid speculation that it could eventually form part of a new financial powerhouse in Germany.

Munich - Germany's biggest engineering group Siemens AG confirmed Wednesday its business year outlook after reporting a surge in both orders and sales in the company's fiscal third quarter.

The Munich-based group said that new orders jumped by 21 per cent to 23.7 billion euros (37.29 billion) with sales rising by 10 per cent to 19.18 billion euros.

Nicosia, July 30: The Saudi Basic Industries Corporation ( SABIC), one of the world’s largest petrochemical companies, has reported preliminary consolidated profits of SR 14.5 billion for the first six months of the year, compared with SR 12.8 billion in the corresponding period of 2007.

These profits are the highest ever reported profits in one quarter and represent an increase of 13 per cent.