Boeing's bid in the 8.3 trillion won ($7.4 billion) tender to supply South Korea with 60 fighter aircraft was the only one below the price ceiling set by the country's arms procurement agency, sources close to the process said on Monday. A final decision is not expected until mid-September, the sources said, but the price submitted by the US company appears to be a significant step towards winning the contract. Boeing is pitching the latest variant of its F-15 fighter, dubbed the F-15 Silent Eagle, against the Eurofighter consortium's Typhoon and Lockheed Martin's F-35 stealth jet. South Korea's Defense Acquisition Program Administration (DAPA), which led the assessment of the fighters, said on Friday that at least one bid, which it did not identify, came within its overall budget.
Indonesia oil regulator suspends energy tenders
Indonesia's energy regulator has suspended all oil, condensate and natural gas sell tenders as it reviews internal procedures after its chairman was caught taking an alleged bribe from an oil trader last week. The suspension is the first evidence that the graft scandal engulfing SKKMigas is starting to impact day to day operations for Indonesia's huge oil and gas industry. SKKMigas suspended a tender to sell around 400,000 barrels of condensate from Total's Senipah complex that was due to close on Monday, said an agency official who wished not to be named. ďThe tender process is on hold. We aren't continuing the tender process,Ē he told Reuters, adding that he was not sure how long the halt would last.
Lloyds readies sale of German insurance unit
Lloyds Banking Group is readying a sale of its German life insurance business, a source with knowledge of the matter said, as the British state-backed bank exits overseas markets to focus on lending at home. Lloyds could raise around 400 million euros ($533 million)from the sale of Heidelberger Leben, the source said, with German reinsurer Hannover Re tipped as the most likely buyer. The government is preparing to start selling its 39% stake in Lloyds, acquired as part of a bailout during the 2008 financial crisis, after the shares surged above its