OPEC and rival

OPEC and rival
producers to
act together

OPEC and rival oil producers to agree on action: Moscow

OPEC and rival crude producers will agree on measures to
stabilize the global oil market in the coming days, Russian
Deputy Prime Minister Viktor Khristenko said on Tuesday cited by
Interfax.

"Supplementary measures will be decided" following
consultations between Moscow and members of the Organization of
Petroleum Exporting Countries (OPEC) as well as other non-OPEC
producers, Khristenko said.

The Russian deputy premier, who holds the energy brief, said
that the slump in oil prices was a real concern for Russia, which
would face particular difficulties in the first half of next
year.

"The situation on the oil market is a continuing worry for the
Russian government," he said.

2. Merger (2 x 21)

Conoco, Phillips merger
means more invest in Asia

Conoco, Phillips merger means more invest in Asia-Analysts

The planned merger of Phillips Petroleum Co. and Conoco Inc.
will expand the new company's portfolio in Asia and position it
for further expansion, particularly in the region's upstream
sector, according to analysts.

With little overlap in Phillips and Conoco operations in the
Asia-Pacific and given that Asian oil demand growth is expected
to continue outfacing demand in the rest of the world, the new
company isn't expected to shave any of its Asian operations but
rather increase investment in the region, a Merrill Lynch analyst
based in Singapore said.

But exact plans for its Asian operations aren't yet clear.
"It's too early in the overall process to be able to detail
specifics from a regional standpoint," a Houston-based Conoco
spokeswoman said.

3. Steel (2 x 18)

EU, S. Korea to
fight against U.S.

EU and South Korea pledge joint battle against U.S. steel rulings

South Korea and the European Union agreed Tuesday to launch a
joint battle against U.S. trade panel rulings which could lead to
anti-dumping curbs against steel imports.

The agreement came at a meeting of government officials and
corporate executives from both sides, the Ministry of Commerce,
Industry and Energy (MOCIE) said.

"Both sides agreed to take strong joint measures against U.S.
trade restrictions," an MOCIE official told AFP.

The U.S. International Trade Commission ruled last month that
12 steel products, including hot-rolled, cold-rolled and slab
steel, had hurt the U.S. industry, raising the prospect of
controversial anti-dumping curbs.

4. Dotcom (1 x 30)

S'pore funds high-tech training

Singapore funds high-tech training despite recession, dotcom bust

Singapore on Tuesday pledged to invest about US$10 million to
groom a pool of high-tech professionals over the next three years
despite the recession and the dotcom collapse.

The fund will go towards the local and overseas training and
attachment of fresh graduates and professionals, and will
complement two separate Internet training programs launched in
June.

"Because the training is designed to be relevant to the needs
of the industry, this means that Singapore will have a ready pool
of trained Infocomm specialists in projected high-end technology
areas," said Infocomm Development Authority (IDA) executive
Kaizad Heerjee.

These sectors include wireless technology, intelligent web
services, Internet security as well as Java technology.

The stints would help Singapore graduates find employment
during the downturn and enable experienced professionals to
upgrade their expertise, IDA said in a statement.