Fed Tipped to Raise Interest Rate despite Market Fears » Yellen: Chairs US Central Bank PETROLEUM Experts, One of Scotland's Most Profitable Companies, Has Defied the Oil Price Slump to Post Record Financial Results and to Launch a Recruitment Drive. the Edinburgh-Based Software Company, Founded by Entrepreneur Hamid Guedroudj, Said Challenging Times for the Oil Sector Meant It Was Able to Attract the High-Calibre People Who Would Normally Be Difficult to Find. It Is Also Increasing Its Research and Development Spend to Ensure It Is in a Strong Position When the Market Recovers. despite Sales in the UK Falling by Almost 28 per Cent during the Year amid North Sea Cutbacks, Growth in Markets Such as Australasia, North America and the Middle East Helped It Increase Sales to Just under £40 Million in the Year to 30 September, a 2 per Cent Rise on the Previous Year. According to Its Latest Accounts, Pre-Tax Profits Rose to £32.2M from £30.5M, a 5.6 per Cent Increase That Guedroudj Said Was Partly Down to Improvements in Efficiency. the Company's Workforce Increased by 6.5 per Cent to 65 during the Year – Meaning the Company Generated Almost £500,000 in Profit from Each Member of Staff. Guedroudj Said the Results Highlighted the Resilience of the Firm, Which Provides Oil Firms with Digital Mapping Tools to Improve Production Efficiency. Its Clients Include BP, Chevron and Shell. "The Past Two Years Have Been the Most Challenging Times for the Oil and Gas Industry since 1986. Although We Live with a Cyclical Industry, the Latest Cycle Has Led Customers to Severely Curtail Their Spending, Reduce Their Budget and Shelve Some Development Plans in an Unprecedented Way," He Pointed out. Although Guedroudj Said Predicting the Future Price of Oil Was Very Difficult, Some of the Company's Technology Is Used to Get the Most out of an Existing Asset, Which He Believes Means There Is "Still a Lot of Room to Grow despite the Adverse Conditions". the Company Is Launching a Number of P

By Flanagan, Martin | Scotland on Sunday (Edinburgh, Scotland), December 13, 2015 | Go to article overview

Fed Tipped to Raise Interest Rate despite Market Fears » Yellen: Chairs US Central Bank PETROLEUM Experts, One of Scotland's Most Profitable Companies, Has Defied the Oil Price Slump to Post Record Financial Results and to Launch a Recruitment Drive. the Edinburgh-Based Software Company, Founded by Entrepreneur Hamid Guedroudj, Said Challenging Times for the Oil Sector Meant It Was Able to Attract the High-Calibre People Who Would Normally Be Difficult to Find. It Is Also Increasing Its Research and Development Spend to Ensure It Is in a Strong Position When the Market Recovers. despite Sales in the UK Falling by Almost 28 per Cent during the Year amid North Sea Cutbacks, Growth in Markets Such as Australasia, North America and the Middle East Helped It Increase Sales to Just under £40 Million in the Year to 30 September, a 2 per Cent Rise on the Previous Year. According to Its Latest Accounts, Pre-Tax Profits Rose to £32.2M from £30.5M, a 5.6 per Cent Increase That Guedroudj Said Was Partly Down to Improvements in Efficiency. the Company's Workforce Increased by 6.5 per Cent to 65 during the Year – Meaning the Company Generated Almost £500,000 in Profit from Each Member of Staff. Guedroudj Said the Results Highlighted the Resilience of the Firm, Which Provides Oil Firms with Digital Mapping Tools to Improve Production Efficiency. Its Clients Include BP, Chevron and Shell. "The Past Two Years Have Been the Most Challenging Times for the Oil and Gas Industry since 1986. Although We Live with a Cyclical Industry, the Latest Cycle Has Led Customers to Severely Curtail Their Spending, Reduce Their Budget and Shelve Some Development Plans in an Unprecedented Way," He Pointed out. Although Guedroudj Said Predicting the Future Price of Oil Was Very Difficult, Some of the Company's Technology Is Used to Get the Most out of an Existing Asset, Which He Believes Means There Is "Still a Lot of Room to Grow despite the Adverse Conditions". the Company Is Launching a Number of P


Flanagan, Martin, Scotland on Sunday (Edinburgh, Scotland)


THE City believes it is "virtually certain" the US Federal Reserve will raise interest rates this week following seven years at historic lows, with market bears fearing it risks triggering stock market volatility.

It follows strong hints recently from Janet Yellen, the chair of the American central bank, that a monetary tightening is likely, having made upbeat comments about the strength of the US economy.

There was a strong American November jobs report, and consensus expectations for GDP in the final quarter of the year have been revised up.

Howard Archer, chief UK and European economist at IHS Global Insight, said: "I think it is a nailed-on certainty that the first liftin US rates will come this week.

"Markets would be very surprised now if it did not happen. That may limit the market volatility. …

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Fed Tipped to Raise Interest Rate despite Market Fears » Yellen: Chairs US Central Bank PETROLEUM Experts, One of Scotland's Most Profitable Companies, Has Defied the Oil Price Slump to Post Record Financial Results and to Launch a Recruitment Drive. the Edinburgh-Based Software Company, Founded by Entrepreneur Hamid Guedroudj, Said Challenging Times for the Oil Sector Meant It Was Able to Attract the High-Calibre People Who Would Normally Be Difficult to Find. It Is Also Increasing Its Research and Development Spend to Ensure It Is in a Strong Position When the Market Recovers. despite Sales in the UK Falling by Almost 28 per Cent during the Year amid North Sea Cutbacks, Growth in Markets Such as Australasia, North America and the Middle East Helped It Increase Sales to Just under £40 Million in the Year to 30 September, a 2 per Cent Rise on the Previous Year. According to Its Latest Accounts, Pre-Tax Profits Rose to £32.2M from £30.5M, a 5.6 per Cent Increase That Guedroudj Said Was Partly Down to Improvements in Efficiency. the Company's Workforce Increased by 6.5 per Cent to 65 during the Year – Meaning the Company Generated Almost £500,000 in Profit from Each Member of Staff. Guedroudj Said the Results Highlighted the Resilience of the Firm, Which Provides Oil Firms with Digital Mapping Tools to Improve Production Efficiency. Its Clients Include BP, Chevron and Shell. "The Past Two Years Have Been the Most Challenging Times for the Oil and Gas Industry since 1986. Although We Live with a Cyclical Industry, the Latest Cycle Has Led Customers to Severely Curtail Their Spending, Reduce Their Budget and Shelve Some Development Plans in an Unprecedented Way," He Pointed out. Although Guedroudj Said Predicting the Future Price of Oil Was Very Difficult, Some of the Company's Technology Is Used to Get the Most out of an Existing Asset, Which He Believes Means There Is "Still a Lot of Room to Grow despite the Adverse Conditions". the Company Is Launching a Number of P
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