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Dollar hits record low against euro, oil prices rally

NEW YORK, Feb. 26 (Xinhua) -- The U.S. dollar dipped to a record low against the euro on Tuesday, breaking the 1.50-dollar mark amid lacklustre U.S. economic data and sending investors to pump more money into commodities such as oil as a hedge against inflation. In New York trade...

Qapco estimates to gain from higher production and prices from rising demand in Asia

Qatar Petrochemicals Co (Qapco)'s chemicals unit expects to benefit this year from higher production and higher prices for its products, drawing on rising demand in Asia. After completion in August of its expansion project, ethylene output is estimated to rise about 38% this year ...

Saudi Aramco's 400000 bpd Ras Tanura refinery scheduled for completion in December 2012

Saudi Aramco's 400,000 bpd Ras Tanura refinery is scheduled for completion in December 2012, at an estimated investment outlay of US$8 bln. Output from the refinery will add to output from the existing 550,000 bpd plant at Ras Tanura. Output from the refinery will be used as ...

Marks & Spencer to charge 5 pence for carrier bags

28 February 2008 Major UK retailer Marks & Spencer has announced a 5 pence charge for food carrier bags in all of its UK stores from the beginning of May. The decision follows pilot projects in Northern Ireland and the South West of England where a 5p charge led to a 70% ...

Diesel now top cost for road carriers

HOUSTON (ICIS news)--Fuel has overtaken labour and equipment as the top cost for US chemical road carriers, an executive at a logistics management firm said on Thursday. "We are clearly in a new territory," said Warren Hoppmeyer, vice president of marketing and sales operations ...

Crude prices set new record high on weak dollar

NEW YORK, Feb. 28 (Xinhua) -- Crude prices surged above 102 U.S. dollars a barrel Thursday on weak dollar and the prospect of lower interest rates. The Commerce Department said gross domestic product grew at only a 0.6 percent rate in the fourth quarter, below estimates. While ...

Crude futures trade above 101 dollars on weak dollar

NEW YORK, Feb. 28 (Xinhua) -- Crude prices traded above 101 U.S. dollars a barrel Thursday on weak dollar and the prospect of lower interest rates. The Commerce Department said gross domestic product grew at only a 0.6 percent rate in the fourth quarter, below estimates. While ...

BP pledges to increase output

WASHINGTON, Feb. 28 (Xinhua) -- Energy giant British Petroleum (BP) has pledged to increase its oil production and improve results at its marketing and refining division, The Wall Street Journal reported on Thursday. In Tony Hayward's first strategy presentation since becoming ...

Azelis adds Whyte Polymers to UK plastics arm

28 February 2008 Azelis has added to its UK plastics distribution portfolio with the purchase of North London-based Whyte Polymers from Whyte Chemicals in a deal that takes effect on 3 March. The deal effectively doubles Azelis Plastics UK in size, taking its turnover to the 20m ...

Libyan official says OPEC production to stay "as is"

BEIJING, March 3 (Xinhuanet) -- Current production levels of the Organization of Petroleum Exporting Countries will remain "as is" as OPEC continues to gauge the state of the global economy at a meeting this week in Vienna, the head of Libya's oil industry said Sunday. "It seems ...

Russian gas company to cut gas supply to Ukraine

MOSCOW, March 3 (Xinhua) -- Russian gas giant Gazprom will cut its gas supply to Ukraine by one fourth starting Monday, after talks on resolving gas debts ended in failure, news reports said. Gazprom will cut down on gas supplied to Ukraine from 10 a.m. Moscow time (0700 GMT) ...

Global ethylene downturn seen 2009-2011

HOUSTON (ICIS news)--Ethylene prices will enter a cyclical downturn from 2009 through 2011, according to Banc of America analysts on Friday. Global ethylene demand growth of 3.9% outpaced capacity growth of 3.2% in 2007, but we see 2008 as a transition year, with capacity ...

Oil prices won't fall under $60-$70: Naimi

ALGIERS (Reuters) - Oil prices won't fall below $60 to $70 a barrel as this is the minimum level at which alternative fuels are economically viable, Saudi Oil Minister Ali al-Naimi said in remarks published on Sunday by Algeria's APS news agency. "From now there's a line below ...

BASF raises prices of carboxylic acids

03 Mar 2008 - Effective immediately, or as existing contracts permit, BASF is raising its prices for 2-ethylhexanoic acid (2-EHA) and propionic acid in Europe by EUR40 per metric ton. According to the company, BASF is one of the world's leading companies with 2-EHA and produces ...

Dow Announces Polyether Polyols and Monopropylene Glycol Price Increase In Asia Pacific

03 Mar 2008 - Effective immediately, or as existing contracts permit, BASF is raising its prices for 2-ethylhexanoic acid (2-EHA) and propionic acid in Europe by EUR40 per metric ton. According to the company, BASF is one of the world's leading companies with 2-EHA and produces ...

Iraq closer to deals with big oil companies

BAGHDAD (Reuters) - More than 100 companies including foreign majors are vying for deals to tap Iraq's vast oilfields, but a vital oil law is stalled by tension involving the Kurdish region, Baghdad's oil minister said on Friday. Hussain al-Shahristani told Reuters that 115 ...

British gas bosses ordered to "give back profits"

LONDON, March 2 (Xinhua) -- The heads of Britain's biggest gas and electricity companies are being ordered by the government to hand over part of their multi-billion pound profits, or face a new windfall tax. Charities, including Help the Aged, have expressed their concern at the ...

Sonatrach and StatoilHydro sign Cove Point LNG partnership accord

Algerian state-owned oil and gas company Sonatrach and Norway's StatoilHydro Saturday signed an agreement sealing a long-term partnership at the Cove Point receiving terminal in the US covering the marketing of a total 3 billion cubic metres of LNG, the companies said Saturday. ...

Crude futures retreat ahead of OPEC meeting

NEW YORK, March 4 (Xinhua) -- Crude futures fell sharply Tuesday on the possibility that OPEC will boost production and U.S. crude inventories are continuing to rise. The Organization of Petroleum Exporting Countries ministers, who meet Wednesday, are worried that a possible U.S. ...

Oil falls 3 percent as stock markets slide

NEW YORK (Reuters) - Oil tumbled more than 3 percent on Tuesday as a global stock market slide prompted profit-taking ahead of OPEC's meeting in Vienna and dragged prices further from a record near $104 a barrel. U.S. light crude for April delivery fell $3.17 to $99.28 a barrel ...

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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