Cummins Inc., which makes diesel engines, said Tuesday that its board raised its quarterly cash dividend by 20 percent to 36 cents per share, and authorized the repurchase of an additional 2 million shares.

In the prior quarter, the company paid a dividend of 30 cents per share. Cummins will pay the dividend on Sept. 1 to shareholders of record on Aug. 18.

The company said that in June, Cummins completed the purchase of $100 million worth of stock that began in September 2005. 

Soviet Union is being restored within KAMAZ Russian truck manufacturer KAMAZ is planning to build a servicing center in Turkmenistan. According to general director of the company Sergey Kogogin, the center will be established in cooperation with a Turkmenian dealer.

This is going to be the first KAMAZ servicing center opened outside Russia after the collapse of USSR. Since that time, KAMAZ has been possessing only servicing centers in Kazakhstan, where the company has 11 subsidiaries, Kogogin said. Besides, together with local firms, 

Hyundai to reconstruct Dubai port South Korea"s Hyundai Engineering and Construction said it had clinched a $202.6 million order from Dubai Ports World.

The deal calls for the builder to construct nine buildings for a new terminal and create a site for further expansion by reclaiming land from the sea at Jebel Ali Port, the company said.

Located about 35 km southwest of Dubai, it is the largest port in the Middle East.

The order is the first stage of Dubai"s 14-phase plan to increase the port"s 

JCB to donate machinery for earthquake victims JCB has announced plans to donate three earthmoving machines to help in the massive clean-up operation in the wake of the earthquake in Java.

Almost 6000 people died and 600,000 were left homeless after the 6.3-magnitude quake struck near the city of Yogyakarta in Indonesia in late May.

JCB is donating two backhoe loaders and a Robot skid steer loader in response to the need for equipment to assist in the clean-up of collapsed buildings and debris.

The machines will 

Airlines and confectioners fight for Daewoo The parent group of Asiana Airlines has been selected as the potential buyer for Daewoo Engineering and Construction in an auction – a purchase that is expected to change the face of South Korea"s construction sector.

Daewoo Engineering and Construction has been under the management of creditors since the 1997 Asian financial crisis. The creditors are selling their 72% stake in the company.

The creditors chose a consortium led by Kumho Asiana Group as the preferred bidder