Wall Street ended lower in light trading on Friday as reports showed weak consumer sentiment in August and an unexpected decline in July retail sales. The weak reports prompted investors to lock in gains from the recent rally.
As part of NewSat Limited's (ASX:NWT)(PINK:NWTLY) continuous disclosure obligations, the company advises the market of the following new developments The company has signed a 53 month contract to provide satellite communications out of the Adelaide Earth Station on a significant Liquefied Natural Gas (LNG) project. The committed contract value is over A$2 million for the term.
As part of NewSat Limited's (ASX:NWT)(PINK:NWTLY) continuous disclosure obligations, directors wish to advise shareholders of the company's ongoing progress. NewSat's growth over the past 12 months has been the strongest of any period in the history of the company.
The Australian shares were broadly higher. The benchmark S&P/ASX200 rose 76.4 points, or 2 per cent, at 3894.4, while the broader All Ordinaries gained 74.6 points, or 1.96 per cent, to 3887.9 points. Besides the strong lead from Wall Street, the rising commodities prices may also push up the market today.
China Unicom Limited (SHA:600050)(HKG:0762)(NYSE:CHU)(PINK:CUNCF) is a leading telecommunication operator base in China with 19,500 self owned sales outlets and 87,400 cooperative independent sales outlets nationwide. The company, currently ranked as the 3rd largest mobile provider in the world, provides services in the following areas including 3G, GSM, Broadband & Data and Traditional Fixed Line Services.
NewSat Limited (ASX:NWT)(PINK:NWTLY) In response to many queries from shareholders on the subject of NBN, and following the release of Government policy, NewSat wishes to update all shareholders and the market of our position in relation to our plans to launch a satellite In November 2007, we announced our intentions to seriously pursue the opportunity to launch Australia's first non-government/non-foreign owned, predominantly Ka band geostationary satellite.
NewSat Limited (ASX:NWT)(PINK:NWTLY) has delivered another strong quarter for the period ending 31st March '09 with an increase in revenue of approximately 40% over the corresponding period last year, and exceeding this year's ambitious targets.
