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Minsheng in $3b offering aimed at China Life, others: HONG KONG/BEIJING - China Minsheng Banking Corp Ltd plans to raise about $3 billion in a Shanghai share placement to replenish capital, targeting major existing shareholders such as China Life, sources said. China's seventh-largest lender will issue 20 billion yuan in new shares ...

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 ...

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 ...

IEA says will not release emergency oil after Ike: PARIS - The International Energy Agency IEA said on Saturday it would not release emergency oil stocks after hurricane Gustav and Ike disrupted oil production, the agency said on Saturday. "After a thorough joint assessment of the impact of Hurricanes Gustav and Ike, the IEA and ...

U.S. doesn't need emergency oil after Ike: IEA: LONDON - The International Energy Agency (IEA) and the U.S. government have decided there is no need to release oil from strategic reserves after hurricanes Gustav and Ike disrupted production, the IEA said late on Friday. The two recent storms shut down almost all U.S. Gulf ...

UAE energy giant announces crude oil prices for September: SINGAPORE - Oil plunged as much as 3 percent to a fresh eight-month low below $88 a barrel in a cross-asset sell-off on Wednesday on growing concerns the world's biggest financial crisis since the Great Depression would hurt demand. Even Britain's effort to kickstart stalled ...

Oil drop may hit supply growth, keep boom and bust: LONDON - The plunge in oil prices toward $80 a barrel will curtail oil companies' spending on new projects, limit production growth and perpetuate the industry's tendency for boom and bust. The surge in oil prices since 2004, to an all-time high above $147 a barrel in July, ...

Oil tumbles $4 to one-year low, crisis unrelenting: SINGAPORE - Oil tumbled more than $4 to a one-year low on Friday as growing fears that financial market turmoil will squash demand for fuel outweighed the possibility of an OPEC production cut at an emergency meeting in November. Commodities have been punished along with stock ...

Oil dives $3, hammered for second day by bank woes: SINGAPORE - Oil tumbled by as much as 4 percent to a seven-month low on Tuesday, in free fall for a second day as Lehman Brothers' collapse made investors ditch oil for safe-haven assets, and on fears the credit crisis will hurt the real economy. Reports that Hurricane Ike caused ...

Oil shares fall on lower crude price, Lehman woes: LONDON - Shares in European oil producers and oil services companies dropped on Monday as oil prices fell and stock markets globally felt the fallout of the Lehman Brothers (LEH.N: Quote, Profile, Research, Stock Buzz) bankruptcy filing. The DJ Stoxx European oil and gas sector ...

IEA sees risk of recession if oil stays high: LONDON - The head of the International Energy Agency said on Wednesday there was a risk of global recession if oil prices stayed around the current level and hurt emerging economies. Nobuo Tanaka, head of the agency which advises 27 industrialized countries, also said the supply ...

Thailand political tension may weaken economy: SINGAPORE--Renewed political tension in Thailand threatens to weaken the country's economy by deterring foreign investment, analysts and industry officials said on Wednesday. "I think it is hard to assess the overall situation. However, it is expected that the political risk will ...

Oil firm near $117 on storm fears: TOKYO - Oil rose more than $1 to near $117 a barrel on Friday as energy companies prepared for Tropical Storm Gustav to deliver what could be the hardest hit to the heart of U.S. offshore production since the devastating 2005 hurricane season. Crude for October delivery was ...

IEA says too early to decide on oil stocks release: PARIS - The International Energy Agency (IEA) is waiting for oil companies to assess the damage caused by Hurricane Gustav on Tuesday before it decides whether to release oil stocks, the energy adviser to rich nations said. Oil prices plunged on Monday as Gustav weakened to a ...

Oil retreat only modest reprieve for U.S. economy: WASHINGTON - It has been one of the most predictable trades on Wall Street all year. When oil prices go down, stock markets go up, and vice versa. If the stock market is a reflection of the broader economy, then only half of that equation makes sense. Oil inflicts heavy and ...

Iraq condemns oil majors' "humanitarian" failure: MOSCOW - A top Iraqi official on Wednesday attacked oil majors for trying to overcharge the war-torn nation and ignoring their "humanitarian" duty to help develop Iraq's battered oil industry. "Foreign companies, including Russian companies, have not taken up the call to develop ...

Europe shares open lower in thin trade, oils fall: LONDON - European shares fell in early trade on Monday, giving up some of their gains from the previous session, as volumes were hit by a UK stock markets holiday and energy stocks declined. At 0717 GMT, the FTSEurofirst 300 index of top European shares was down 0.3 percent at 1...

Goldman reiterates $149 oil forecast: LONDON - Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) reiterated on Wednesday its year-end price forecast of $149 a barrel for U.S. crude oil, and said strong fundamentals were a more important factor than a strengthening dollar. The restatement came in a research ...

Oil extends slide below $130 on demand worries: NEW YORK - Oil dropped by $5 on Thursday, extending a decline of about 12 percent from last week's record on worries over U.S. demand and easing political tensions between Iran and the West over the OPEC producer's nuclear program. Oil's slide marks the biggest three-day loss in ...

Oil hits record above $144 on U.S. inventory drop: NEW YORK - Oil prices shot to a record high above $144 a barrel on Wednesday after a drop in U.S. crude inventories stoked supply concerns. U.S. crude hit a record $144.32 a barrel in post-settlement trade on Wednesday after settling up $2.60 at $143.57 a barrel. London Brent ...

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China slams Japan's NHK governor's denial of Nanjing massacre: BEIJING, Feb. 5 (Xinhua) -- China on Wednesday slammed the remarks of ...

Bill Gates talks nuclear: Microsoft co-founder Bill Gates confirmed on Wednesday that he is ...

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Reforms to fuel Shanghai's growth in 2014: BEIJING, Jan. 27 (Xinhuanet) -- Shanghai's financial sector grew 13.7 ...

Economist sees world economy strengthening in 2014: NEW YORK, Jan. 24 (Xinhua) -- Global economy is likely to gain ...

Xinhua Feature: World's political, business leaders gather in Davos for WEF: DAVOS, Switzerland, Jan. 22 (Xinhua) -- The snow-covered Swiss town of ...

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Chinese leader calls for more marine power: Chinese Vice Premier Zhang Gaoli Sunday called for research in polar ...

Court rejects Apple lawsuit over iPad name: Shenzhen Municipal Intermediate People's Court has rejected a lawsuit ...

Super car club in commercial drive: On the night of Nov 11, more than 150 super cars were driven into the ...

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Fourteen countries expected to compete in Cuba's wrestling tourney: Some 14 countries and regions are expected to compete in the 45th ...

Yao's gift of sport for all: Chinese NBA player Yao Ming teaches a boy with special needs how to ...

Stars 'Big Three' fall short of title in 1st year: Miami Heat's LeBron James (R) stands with teammates Chris Bosh (C) and ...

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