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Iron ore price still stuck at 6-month high

The price of imported iron ore remained high in China on Wednesday amid declining supplies from India - the world's third-largest ore exporter - and rising spot steel prices. Indian ore with 63.5 percent ore content remained at $172 a ton - including shipping - on Wednesday after ...

Russian energy giant to suit Ukrainian company on gas dispute

MOSCOW -- Russia's gas monopoly Gazprom will file a suit against the Ukrainian national energy company Naftogaz Ukrainy on the allegedly gas-transit shortage to Europe amid rows over price, local media reported on Saturday. "Gazprom asks the Court of Arbitration in Stockholm to ...

Sinopec adds 104 mln T oil reserves in Shengli field

BEIJING, Dec 31 - State-owned Sinopec Group said it has added 104.08 million tonnes, or 760 million barrels of proven geological oil reserves to its largest Shengli oilfield. That is the 26th consecutive year that annual new discoveries in the field surpassed 100 million tonnes. ...

Minmetals sees improved 2010 results

China Minmetals Corp, China's largest steel and metals trader, expects an 80 percent increase in its fortunes this year, with increased profit, propelled by a rally in metal prices despite recent pullbacks and good returns from its overseas mining resources. "Revenue may rise by ...

Oil falls below $39, heads for worst year ever

SINGAPORE - Oil slid below $39 a barrel on Wednesday, closing out its worst year ever after falling 60 percent, with a rapid reversal in the economic outlook having brought it crashing back from a mid-year record high. Fresh sets of dismal data from the United States on Tuesday ...

Vietnam 2008 crude output seen down 6.6 percent on year

HANOI - Vietnam's crude oil output this year will fall 6.6 percent from 2007 to an average of 298,200 barrels per day (bpd), the government's statistics office estimated on Wednesday. But December crude production is estimated to rise 11.2 percent from a year earlier to 1.4 ...

MARKETS-Grimmest of years ends with touch of hope

HONG KONG, Dec 31 - Asian shares rounded out their worst year ever on Wednesday, down 50 percent after 12 months of financial market and economic turmoil, but optimism that 2009 will be an improvement lifted stocks for a third straight session. Government bond yields held near ...

California's OriginOil seeks better way to grow algae

LOS ANGELES, Dec 30 - One could say they are working on the green slime that could change the world. In an unassuming converted warehouse in Los Angeles, the 10 employees of OriginOil (OOIL.OB) are working to perfect the way microscopic algae is grown and refined. They hope that ...

Oil down $1 on grim economic outlook

NEW YORK - Oil prices fell $1 on Tuesday as fear about demand in a sickly world economy outweighed expectations of further Saudi supply cuts in February and tension in the Middle East due to the Israeli-Hamas conflict. The market took in data showing a sharp fall in weekly U.S. ...

US STOCKS-Market falls on Dow Chemical news, economic worry

NEW YORK, Dec 29 - Wall Street slid on Monday after a joint venture between Kuwait and Dow Chemical disintegrated, putting one of the larger merger deals of the year at risk and adding to fears about a weakening global economy. Dow Chemical shares (DOW.N) tumbled to their lowest ...

Dow scrambling to keep $15 billion Rohm takeover alive: report

SINGAPORE - Dow Chemical is scrambling to keep its $15 billion takeover of rival Rohm & Haas alive after a surprise decision by the Kuwaiti government to scrap a joint venture with Dow, the Financial Times reported on Tuesday. The Kuwaiti decision deprived the U.S. group of about ...

Oil surges over 3 percent on Gaza, Russian gas row

SINGAPORE - Oil jumped more than 3 percent on Monday after an Iranian military commander reportedly called for an oil boycott over Israel's ground offensive in the Gaza Strip and on concerns over the deepening Russian gas supply row. Wall Street's strong start to the new year on ...

Singapore Petroleum confirms reviewing projects

SINGAPORE, Jan 5 - Oil refiner and retailer Singapore Petroleum Co (SPC) (SPCS.SI) said on Monday it was reviewing plans for two investments, confirming a local media report. The Business Times newspaper had said Singapore Refining Co, a joint venture between SPC and U.S. oil ...

Russia kindles flame of hope in Bosnia refinery

BOSANSKI BROD, Bosnia - A flare at the top of a 50-meter high tower in the Balkans shows Russia building political capital in a notoriously fractured part of Europe. The flame in late November marked the restart of operations in Brod, Bosnia's sole oil refinery which had been out ...

Iron ore imports decline

Imported iron ore will account for 60 percent of China's ore consumption this year, down 2.4 percent from 2009, the first drop in recent years, thanks to rising domestic ore production, an industry official said. Domestic ore output increased 24.4 percent year-on-year in the ...

CNPC Changqing produces 26 pct more oil, gas in 2008

BEIJING, Jan 5 - State-owned CNPC said oil and gas output in its second-largest Changqing oilfield in northern Ordos Basin reached 25.2 million tonnes of oil equivalent in 2008, or 504,000 barrels per day. Production was up 26 percent from a year earlier. Newly added crude and ...

Obama seeks $310 billion in tax cuts

SINGAPORE President-elect Barack Obama is seeking as much as $310 billion in tax cuts as part of a massive stimulus plan to counter what senior policymakers warned could be a prolonged period of economic stagnation and deflation. Obama's plan is the latest in a series of measures ...

CNOOC signs Australian CSG energy accord

China National Offshore Oil Corp (CNOOC), the country's largest offshore oil and gas producer, signed a deal on Wednesday with Australia's Exoma Energy Ltd for a 50 percent direct investment in a coal seam gas project (CSG) in Queensland. It's the Chinese company's first move ...

Saboteurs blow up Agip oil pipeline in Nigeria

LAGOS - Saboteurs blew up an oil pipeline operated by Italy's Agip (ENI.MI) in Nigeria's southern Niger Delta late on Friday, the military said on Saturday. Brigadier-General Wuyep Rimtip, commander of the joint military taskforce in the western Niger Delta, said the pipeline had ...

Russia gas row disruption spreads, no talks in sight

KIEV/MOSCOW - Russian gas flows to four European Union countries dipped below normal on Saturday after Moscow cut off supplies to Ukraine in a pricing row, and there were no talks in sight to resolve the dispute. Temperatures were under zero overnight in Europe, and Bulgaria's ...

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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