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Dutch marine services company Fugro NV has warned that weakness in the oil and gas industry, combined with technical difficulties, meant its results for the first half would fall short of expectations, hammering its shares. Fugro, involved in the search for Malaysia Airlines' missing flight MH370, said it would make a one-off writedown of up to 350 million euros ($477.4 million) as a result of slowing growth in capital spending in the oil and gas industry, which accounts for three quarters of group revenue. It said it would report a "low single-digit" margin, on the basis of earnings before interest and tax (EBIT), for the first six months of the year, but strong growth in the second half would partly compensate for the setback. The full-year margin will still be down on last year. "For sure we are in a dip," said Chief Executive Paul van Riel in an analyst call. "But we really are looking at a much better second half ahead of us and also circumstances

Malaysia's Hibiscus Petroleum Bhd, an oil and gas production company, has hired UBS AG and Maybank Investment Bank Bhd to explore fundraising opportunities locally and abroad. _0"> The company is seeking funds to meet future expansion plans, it said in an announcement to the stock exchange on Thursday. The announcement was made the same day that Hibiscus Petroleum called off plans for a private placement to raise 500 million ringgit ($157.2 million), which was first announced in Oct 2013 and had Hong Leong Investment Bank as an advisor. Hibiscus Petroleum operates small to medium sized oil and gas fields in the Middle East, Norway, Southeast Asia and Oceania. ($1 = 3.1800 Malaysian Ringgits) (Reporting By Al-Zaquan Amer Hamzah; Editing By Miral Fahmy)

Indonesian shares and the rupiah rose on Thursday on the prospect of a presidential election victory for Jakarta Governor Joko "Jokowi" Widodo, widely seen as more business-friendly than his rival, former general Prabowo Subianto. Both claimed victory after Wednesday's vote and analysts warned there could be a drawn-out constitutional battle to decide who will lead the world's third-largest democracy and Southeast Asia's biggest economy. Even so, the Jakarta stock exchange rose as much as 2.8 percent to 5,165.42, the highest since May 30 last year, before ending up 1.5 percent. The rupiah hit a seven-week high. Both candidates favour a nationalist agenda, underpinned by popular perceptions the economy has for too long depended on selling off its vast natural resources cheaply to foreign buyers. But Prabowo is seen as more fiercely nationalistic, while Jokowi is seen as a more capable, hands-on administrator. "Investors are buying on the hope that some s

Bangladesh's exports in the 2013/14 financial year that ended in June rose 11.65 percent from a year earlier to nearly $30.18 billion, boosted by stronger clothing sales, the Export Promotion Bureau said on Thursday. _0"> Garments are a vital sector for the South Asian nation, whose low wages and duty-free access to Western markets have helped make it the world's largest apparel exporter after China. Garment exports surged 14 percent to $24.5 billion in 2013/14 from a year earlier. The garment industry, which supplies many Western brands such as Wal-Mart WMT.N, Tesco TSCO.L and H&M HMb.ST, has been under the spotlight after a string of fatal factory accidents, including the collapse of a building housing factories in April 2013 that killed more than 1,130 people. (Reporting by Ruma Paul; Editing by Kim Coghill)

Bangladesh's exports in the 2013/14 financial year that ended in June rose 11.65 percent from a year earlier to nearly $30.18 billion, boosted by stronger clothing sales, the Export Promotion Bureau said on Thursday. Garments are a vital sector for the South Asian nation, whose low wages and duty-free access to Western markets have helped make it the world's largest apparel exporter after China. Garment exports surged 14 percent to $24.5 billion in 2013/14 from a year earlier. But the total exports were 1 percent below the target of $30.5 billion, partly because of political violence leading up to an election in January that crippled the economy. The readymade garment industry employs four million people, and the industry generates 80 percent of the country's export earnings. Bangladesh has to do more to improve factory conditions and workers rights in order to have U.S. trade benefits restored, the U.S. Trade Representative's office said earlier this month. Pres

Britain said on Thursday it would rush through emergency legislation to force telecoms companies to retain the data of users for a year, saying the move was vital to protect national security following a decision by Europe's top court. _0"> Communication companies had been required to retain data for 12 months under a 2006 European Union directive which was thrown out by the European Court of Justice in April. The scrapping of the directive could deprive police and intelligence agencies of access to information about who customers contacted by phone, text or email, and where and when, the British government said. British Prime Minister David Cameron said the emergency legislation would restore this capability and enshrine it in law, ensuring investigations would not be hampered and giving protection to the telecom firms from possible legal challenges. However, he stated the measure would not give the authorities any new powers to access Britons' personal data or t

Club Mediterranee suitor Andrea Bonomi met trade unions on Thursday morning to outline his plan for the French holidays group amid fears of possible job cuts in its home market, where it has been underperforming. Bonomi is now Club Med's largest shareholder in the company that pioneered all-inclusive holidays after building a stake of nearly 11 percent this year. He is offering 21 euros a share for Club Med or 790 million euros ($1.08 billion). The Italian tycoon's offer tops a one year-old 557 million euros offer by China's Fosun International and French private equity group Ardian. That offer was priced at 17.50 euros a share but became mired in legal challenges and shareholder opposition to it as too low. Bonomi must convince Club Med shareholders, staff and the French establishment his offer is best for Club Med's future. Part of his strategy to win support has been to promise accelerated expansion in the country. Unions are unconvinced. "Bonomi's