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Libyan refiner stops oil supply to Switzerland

RABAT - Libya cut oil supplies to Switzerland on Thursday, three months after a diplomatic row erupted over the arrest of a son of Libyan leader Muammar Gaddafi in Geneva. OPEC member Libya said in July it would suspend Swiss oil sales after Hannibal Gaddafi was arrested and ...

Oil price crash delays Nigeria's 2009 Budget

LAGOS -- Oil price crash on international market has delayed the presentation of the proposed 2009 budget to the National Assembly by the Nigerian Federal Government. A Ministry of Finance source said in Abuja on Monday that the Federal Government is currently adjusting the 2009 ...

Ethylene capacity in Asia to spike from 40 mln tpa to 64 mln tpa by 2015

An upsurge in capacity additions is expected in Asia-Pacific region, scheduled to come on stream in the period from 2009-11, peaking in Q1 and Q4 of 2009. Ethylene capacities will increase to over 64 mln tpa from 40 million tpa by 2015. China will be the hub of new capacity ...

Credit crunch hits South Asia polymer trade

p> SINGAPORE--Scarcity of available credits has brought polymer trade in South Asia almost to a stand-still as the raging global financial crisis has made banks extremely wary of possible defaults from buyers, traders and end users said on Tuesday. Banks in South Asia have not ...

Arch Chemicals completes acquisition of Advantis Technologies

Arch Chemicals, Inc. announced that it has completed its previously announced asset acquisition of the water treatment chemicals business of Advantis Technologies, Inc.. Advantis, a subsidiary of Rockwood Holdings Inc., is a North American manufacturer and marketer of branded ...

Russia to lend energy firms $9 billion to pay debts: paper

MOSCOW - The Russian government will lend its four domestic energy majors as much as $9 billion to help them finance foreign debt and fund strategic projects amid a financial crisis, Kommersant business daily reported on Tuesday. The newspaper quoted unnamed sources familiar with ...

Oil dollars help Houston dodge economic woes

HOUSTON - Even after Hurricane Ike smashed thousands of windows in Houston's skyscrapers last month, times could not be much better in the Petro Metro. While the ill wind of economic turmoil sweeps across America, Houston has been shielded by a combination of low housing prices, ...

Oil hovers at $83, extends gains on bank rescue

SINGAPORE - Oil rose more than $2 on Tuesday amid a broad-based commodities rally, extending a 4 percent gain from the previous session as government moves to rescue banks raised hopes for an economic recovery. Global markets jumped, with Wall Street staging its biggest one-day ...

BD may fall to $2,000/tonne as demand falters

p> SINGAPORE--Asia butadiene (BD) prices may further weaken to $2,000/tonne by end-December after plummeting about 17% last week amid shrinking demand and rising inventories as the global credit crisis deepens, traders and buyers said. BD prices plunged by $500/tonne to $2,350-2...

Extreme nature helps scientists design nano materials

Scientists are using designs in nature from extreme environments to overcome the challenges of producing materials on the nanometre scale. A team from the UK's John Innes Centre, the Scripps Research Institute in California and the Institut Pasteur in Paris have identified a ...

New SAN copolymer added to BASF's medical technology plastics' portfolio

BASF's HD (Healthcare and Diagnostics) services have added one more plastic specialty, Luran HD (a styrene-acrylonitrile copolymer) to its existing line of plastics for medical technology. In comparison to other transparent materials, Luran is more resistant to chemicals, stiffer...

Oil plumbs fresh 13-month low on economy fears

SINGAPORE/TOKYO - Oil fell for a third day on Thursday, plumbing a new 13-month low near $73 as commodity investors again rushed for the exit on fears of a collapse in demand growth with the world economy tilting toward recession. Bleak U.S. economic data and warnings from the ...

Iran plans 2009-10 budget on $55-60 oil price

MANAMA - Low oil prices will hit investment in oil production capacity expansion projects, Iranian Oil Minister Gholamhossein Nozari said on Wednesday. "I think the low price is a real damage to the future of production," Nozari told reporters in Bahrain's capital Manama, adding ...

Venezuela's Chavez: Oil prices may keep falling

CARACAS - Venezuelan President Hugo Chavez said on Wednesday oil prices, which have dropped by half in the last few months, will probably keep falling as the United States suffers a recession. Chavez is a price hawk in OPEC and has over the last few weeks been lowering what he ...

Asia benzene plunges to 31-month low

p> SINGAPORE--Asian benzene fell to its lowest level in 31 months and may not recover soon amid weakening market fundamentals and plummeting crude values, traders and producers said on Thursday. Benzene shed about 10% from Wednesday s close to $700-720/tonne FOB (free on board), ...

Kemira committed to enhancing energy efficiency at production sites in Finland

Kemira has signed a voluntary energy efficiency agreement, introduced by the Finnish Ministry of Employment and the Economy and the Confederation of Finnish Industries EK for the purpose of promoting energy efficiency in energy-intensive industries in Finland. Under this ...

Venezuelan president says recent oil price plunge not fatal

CARACAS -- Venezuelan President Hugo Chavez said Friday that the recent dramatic drop in oil prices poses no threat to his country, a major oil producer of the world. With large sums of capital reserves in the national coffers, the Venezuelan government will continue its ...

REACH legislation hits the polymer Industry

The polymer industries' concerns about REACH legislation has been confirmed with the EU Member States nominating 15 substances for the first REACH candidate list, 8 of these are regularly used in Polymer formulation. This first list of 'substances of very high concern' includes ...

Oil producers should balance market: Iran

TEHRAN - Iran's OPEC governor called for cooperation between oil producers to resolve the current "crisis" and create balance between demand and supply in the market, an Iranian news agency reported on Tuesday. "The major current problem of the market is the drop of demand and ...

Oil majors to post bumper quarter amid crude crash

SAN FRANCISCO - Reporting earnings for a quarter in which crude prices hit a record high once looked to be a lot easier for the world's top oil companies than it actually will be in the next few weeks. The start of the third quarter in July, the month when U.S. crude oil topped ...

Latest World News

china

Bill Gates talks nuclear
Bill Gates talks nuclear
Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...
China offers inspirations to global dilemmas
China offers inspirations to global dilemmas
BEIJING, Jan. 22 (Xinhua) -- Policies of China's new leadership in the ...
Merck to put $1.5b in R&D
Merck to put $1.5b in R&D
Merck Sharp & Dohme (MSD), the world's second-largest drug producer by ...

world

market

IMF chief warns of risks to recovery
IMF chief warns of risks to recovery
DAVOS, Switzerland, Jan. 25 (Xinhua) -- The International Monetary ...
China's farm product pricing plan shifts to market orientation
China's farm product pricing plan shifts to market orientation
The Number One Document also proposed a new pricing plan for China's ...
Chinese investors look to overseas opportunities
Chinese investors look to overseas opportunities
SHANGHAI, Jan. 25 (Xinhua) -- China, the world's top manufacturer and ...

finance

company

Retailer's Net Profit Falls 3%
Retailer's Net Profit Falls 3%
A Wal-Mart store is seen in Stratford, Connecticut, the United States. ...
Gaming Firms Find Going Tough
Gaming Firms Find Going Tough
Employees demonstrate Sony Ericsson Mobile Communications' Xperia Play ...
Boeing Wins Biggest Order of US$26b
Boeing Wins Biggest Order of US$26b
A formation of nine Royal Air Force Red Arrows Hawk aircraft fly ...

trade

sports

Yao's gift of sport for all
Yao's gift of sport for all
Chinese NBA player Yao Ming teaches a boy with special needs how to ...
Lucrative golf industry lures stiff competition
Lucrative golf industry lures stiff competition
Two models stand beside golf equipment and bags at a recent golf ...
Li Na wins French Open women's singles title
Li Na wins French Open women's singles title
History-making tennis legend Li Na notched the first-ever grand slam ...
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