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Listed transport operator SMRT Corp said Thursday that the company expects to post a net loss for the fourth quarter ending March 31, 2013. "Increasing operating costs without corresponding fare adjustments have adversely affected the group's profitability," it said in a statement to the Singapore Exchange, adding that it is also registering a $17 million impairment of goodwill in Chinese associate Shenzhen Zona Transportation. The group will, however, remain profitable for the full year ending March 2013, SMRT said. It posted a net profit of $95.2 million for the first nine months, down 10.1 per cent. SMRT's net earnings for the previous fourth quarter (March 2012) stood at $13.9 million, a 59 per cent drop. Full-year earnings for 2012 came in at $119.9 million - 25.6 per cent lower. http://www.straitstimes.com/breaking-news/...he-red-20130328

Source: http://www.channelnewsasia.com/stories/afp.../364552/1/.html Iran expects OPEC to control quotas Posted: 03 August 2008 0116 hrs TEHRAN: Iran, the number two oil producer in OPEC, expects the cartel to discuss ways of controlling the quotas of member countries at its next meeting in September, the official news agency IRNA said. "In case of the continuation of a downward trend in oil price, one of the serious discussions in the next OPEC meeting will be definitely the quotas," IRNA quoted Oil Minister Gholam Hossein Nozari as saying. The Organisation of Petroleum Exporting Countries is scheduled to hold its next regular meeting on September 9 in Vienna. "OPEC, as the responsible body to control the market, should be more meticulous for the control of quotas," the oil minister said. "The (member) countries that have increased their capacity should control it... The issue is that some countries have been supplying more than their quota," he added. Nozari said in July that Iran was against any hike in the cartel's output quota despite continued high crude prices. Iran is the world's fourth-largest crude oil producer and tension over its nuclear programme helped push crude prices to record highs above 147 dollars a barrel on July 11. But prices dropped by around 20 dollars since then. In London, Brent North Sea crude for September delivery soared as high as 127.94 on Friday before settling at 124.18 dollars. - AFP/de