While the world market fall and many developed country suffering from lack of investment; Iran, the world’s second biggest oil producer, has been looking for foreign investment for development of its oil and gas fields in order to ensure its energy security from big power monopoly and regional conflicts, claiming it has the safest route for oil transport in this area.

Last Sunday, the official IRNA news agency reported, after addressing the opening session on Saturday of an energy conference in Tehran that would conclude on Sunday. Referring to the current turmoil in the Caucasus region (a geopolitical region located between Europe, Asia and the Middle East.), Iran’s Foreign Minister Manouchehr Mottaki said, “Iran is ready to cooperate with foreign companies and states to ensure its oil supplies against the (political) turmoil in the Caucasus”, he also said, that Iran insists upon security of oil supplies. Moreover he added that Iran is the safest and most economical route for piping oil and gas in the world. He also said:

Iran can transfer the Caspian Sea oil to the Persian Gulf and free international waters via the shortest and best possible route.

On the hand, Iran’s oil minister Gholam Hossein Nozari informed last Saturday investments worth more than $20 billion are needed for the country’s oil refining industry. The minister voiced Tehran’s readiness to “shake the hands which are able and would like to assist us.” He also added, Iran looks forward to doubling its current refining capacity of 1,750,000 barrels for each day. But do any foreign investors give their hand to develop its oil and gas field? While they always face threat of the UN and the USA economic sanctions for its nuclear program.

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HSBC, fourth largest bank in the world in terms of assets, has announced that it is going to cut 1,100 jobs worldwide in its banking operation. With approximately half of the job losses to take place in HSBC headquarters and UK based international banking division and markets operation in Canary Wharf in the UK. Another 100 of the job are losses in Hong Kong, where the large Asian operations are based of this bank. Here the jobs would be cut in both front divisions and back office operations.

In a statement the company said that global pre-tax profits for the segment were 2.7 billion dollars in the early half of the year 2008, drop 35% over the early half of the year 2007 although it is 37% higher than in the next half of the year 2007. Moreover its half-year earnings drop almost 30 percent to £5.2 billion as the bank was forced to write-off $14 billion from bad debts and asset write-downs in the U.S.A.

On the other hand, an HSBC official said the firm had opted to cut its employees, “because of market conditions and the economic environment, and our cautious outlook for 2009.” He also added, “Markets continue to be challenging and difficult but our strategy leaves us well positioned for the next wave of global growth, when it comes.”

After the announcement to the news of job cuts among the 330,000 workforces worldwide, the market responded positively. Hong Kong-traded shares of HSBC increased 0.5 percent against a decreasing overall market.

General Motors Corporation (GM), the world largest automaker, wants to win over consumers wary of Detroit-built vehicles. GM is going to offer a one-year/12,000-mile bumper-to-bumper warranty on utilized vehicles. This offer is valid to all GM Certified Used Vehicles from Chevrolet, GMC, Buick, and Pontiac sold in the U.S. market going back to the 2003 model year. Moreover, Saturn licensed Pre-Owned Vehicles will be provided the similar warranty. GM informed the program starts 13 September and the corporation hopes it will aid to boost sales and make residual values of its vehicles. Although vehicles made by Japanese auto makers want to have better resale values than those sold vehicles by Detroit companies and it is an important competitive shortcoming for local brands. But Jamie Hresko, GM vice president of quality for North America, said:

We’ve upped our game and made significant strides in quality,” he also added, “This shows GM’s confidence.

In addition to say this warranty will cover all type of vehicle error outside normal wear and tear.

On the other hand, the company said GM certified used-vehicle sales are decline current year from the last year, at what time the auto manufacturer sold a record 451,000 used vehicles. Though used cars and trucks are falling victim to the similar sales crash driving downward sales of new cars and trucks to their lowest level points in above 15 years history. Most of the customers, hit by the fragile economy with record oil prices, make delay to purchase big-ticket for example new vehicles.

In the year of 2007, General Motors Corporation rolled out a five-year, 100,000-mile limited power train warranty for its used cars and trucks. The existing bumper-to-bumper warranty program lasts three months or 3,000 miles. But experts said the warranties may assist sell additional used cars and trucks but it will not improve expected residual values radically.

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The world’s biggest beverage company Coca-Cola Co. wants to expand its businesses in the fast-growing Chinese beverage market Wednesday with a $2.5 billion bid in cash for major juice maker China Huiyuan Juice Group Ltd. Huiyuan is China’s top maker of pure fruit juices and nectars with around 31 production facilities. It shares, down over 50% current year and jumped to HK$11.10 early Wednesday.

According to the deal, Coca-Cola’s totally-owned subsidiary Atlantic Industries would buy the Chinese company’s shares for 12.20 Hong Kong dollars or $1.56 each. The share is about triple their most recent closing price, HK$4.14.Both companies said in a joint statement to the Hong Kong stock exchange. Moreover Coca-Cola has offered to pay for every outstanding convertible bonds and options, bringing the entire quantity of the agreement to as much as $19.6 billion Hong Kong Dollars (roughly $2.51 billion). That would worth the Beijing-based juice manufacturer at about HK$17.9 billion ($2.3 billion).

Dealogic, a research firm, ensured that it is the largest-ever deal in China’s food and beverage industry. If the deal will be approved by regulators, the achievement would mark Coca-Cola’s largest in China since it started operating in the country in the year of 1979 and boost its share in the Chinese beverage market.

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