| November 10, 2008 |  |
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World oil prices up on OPEC chief's remarks, China stimulus plans Singapore (AFP) Nov 10, 2008 
World oil prices were higher in Asian trade Monday after OPEC refused to rule out further output cuts and China's massive stimulus package aimed at boosting domestic spending, dealers said. New York's main contract, light sweet crude for December delivery, advanced 2.52 dollars to 63.56 dollars. Brent North Sea crude for December delivery rose 2.62 dollars to 59.97 dollars ... read moreAnalysis: Report warns of post-oil crisis 
Berlin (UPI) Nov 7, 2008 Oil production will peak in the period between 2011 and 2013, causing rising fuel prices and devastating damage to the global economy, a new report found. The oil age is coming to an end, and sooner than most people may think. The shift to a new energy age won't be easy, and the world's economies will have to act sooner rather than later to prevent the global economy from being severe ... more
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Six navy personnel killed in Nigeria gun battle
Lagos (AFP) Nov 7, 2008At least six navy personnel were killed in a gun battle between two rival gangs in southern Nigeria's oil-rich Bayelsa state, one of their colleagues said Friday. "Six of our men on a mission to keep the peace were shot dead by the warring youths in Nembe yesterday (Thursday)," he told AFP in the Yenagoa hospital where he was undergoing treatment for a gunshot wound. He said some of the ... more Rich nations should ditch 'unsustainable' lifestyles: China's Wen 
Beijing (AFP) Nov 7, 2008Chinese Premier Wen Jiabao and a top UN official urged industrialised nations Friday to alter their lifestyles and not let the global financial crisis hamper climate change efforts. Industrialised nations should also help developing countries respond to climate change, Wen said at the opening of a two-day international meeting on global warming in Beijing. "The developed countries have a ... more Icelanders demonstrate as anger over banking crisis mounts 
Reykjavik (AFP) Nov 8, 2008Thousands of demonstrators took to the streets of the Icelandic capital Reyjavik Saturday to call on the government to resign and for banks to be more open about the country's financial crisis. Between 3,000 to 4,000 protestors turned out on the fourth consecutive Saturday of demonstrations, with numbers growing each week. The island's economy is heavily reliant on its financial sector ... more  |
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Turning Oil Into Bullets Part Two
Hong Kong (UPI) Nov 7, 2008 Alongside their military deals, the People's Republic of China and the South American nations of Venezuela and Brazil have been cooperating extensively in the oil industry. In May 2008 the Venezuelan News Press reported that China Petrochemical Corp., or Sinopec, was signing a billion-dollar contract with Venezuela's state-owned Petroleos de Venezuela -- PDVSA. The contract provides for ... more China's fiscal stimulus package good news for Australia: PM 
Sydney (AFP) Nov 10, 2008China's massive financial stimulus package, which will pour more than half a trillion dollars into its economy, was good news for Australia and the region, Prime Minister Kevin Rudd said Monday. Beijing Sunday announced a four trillion yuan (586 billion dollars) deal to counter the global financial crisis, which involves tax cuts and increased spending and is equal to some seven percent of g ... more China's air show saw four bln dollars in deals: report 
Beijing (AFP) Nov 10, 2008China's biennial air show saw 16 deals signed with a total value of four billion dollars and involving 102 aircraft, state media reported on Monday. The seventh Airshow China closed on Sunday in the southern coastal city of Zhuhai with increased deal-making across the board despite the global financial crisis, the People's Daily said. During the previous staging of the airshow in 2006, ... more Markets cheer Chinese economic stimulus plan 
Tokyo (AFP) Nov 10, 2008Asian stocks surged in early deals Monday, lifted by a Wall Street rally, a Chinese economic stimulus plan and a pledge by major economies to do what it takes to fight the financial crisis. Hopes were growing that world leaders would take further steps to ward off a deep global recession and calm months of market turmoil when they meet in Washington for an emergency summit at the weekend. ... more |
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