| March 02, 2009 |  |
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From Calgary to Caracas, China snapping up resources Shanghai (AFP) March 1, 2009 
Resource-hungry China has seized upon the financial crisis to sign billions of dollars in deals in a buying spree that is set to pick up pace and reshape the global economic landscape, analysts say. From Calgary to Caracas, China has hammered out an unprecedented series of agreements over the past month as plummeting energy and commodity prices have left once mighty producers over-extended a ... read moreEurope's carbon market plummets, exposing frailties 
Paris (AFP) March 1, 2009As world leaders scramble to buoy the global financial system, the economic crisis has quietly claimed yet another victim: Europe's nascent market for carbon pollution. Europe's Emissions Trading System is touted by supporters as a model for US President Barack Obama's own cap-and-trade scheme and other countries seeking to cut greenhouse gases and boost green technologies. But the price ... more
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China's CNPC buys Canadian oil firm: company
Shanghai (AFP) Feb 27, 2009China National Petroleum Corp has agreed to buy Canada's Verenex Energy Inc, including its Libyan oil assets, in a deal worth 499 million Canadian dollars (400 million US dollars), the Calgary-based company said. The Chinese company's international arm, CNPC International Ltd, in an all cash deal, offered 10 Canadian dollars (7.97 US dollars) per share, a 28 percent premium on the company's ... more China's economy showing signs of recovery: official 
Beijing (AFP) Feb 27, 2009China's economy is showing signs of recovering even though the impacts of the global crisis are still being felt, a senior planning official said Friday, as he promised to steer clear of protectionism. "Despite the downward pressure on the Chinese economy since the fourth quarter of last year, we have nonetheless seen signs of recovery," Liu Tienan, vice chairman of the country's top economi ... more Analysis: Iran may enter LNG market 
Washington (UPI) Feb 27, 2009 Iran's vast, largely untapped natural gas reserves are increasingly coming into the view of Brussels' bureaucrats, especially after the January Ukrainian-Russian gas disputes, which traumatized Europe to search for alternative sources in the Caspian basin. This is despite previous hesitation due to Washington's threats of punitive sanctions, under legislation passed in 1996, against an ... more  |
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Asia's export-reliant economies feel pain of slowdown
Hong Kong (AFP) March 1, 2009When times were booming, Asia's factories would sometimes struggle to keep pace with the global demand for cars, semiconductors and electronics goods. But as the worldwide recession has taken hold, the region's export-dependent economies have been hit especially hard -- and they are now finding that domestic demand cannot possibly make up for the decline in sales overseas. "This is a ver ... more China starts work on Shanghai-Hangzhou fast rail link: govt 
Shanghai (AFP) Feb 27, 2009China has begun construction on a high-speed rail link between Shanghai and Hangzhou, which will cut travel time between the economic hub and the scenic lakeside city by half, officials said Friday. When it opens next year, the east Chinese rail link -- capable of speeds up to 350 kilometres (215 miles) an hour -- will make the 159-kilometre journey in 38 minutes, the Shanghai municipal gove ... more China, Japan play down islands row, warn NKorea 
Beijing (AFP) Feb 28, 2009China and Japan Saturday played down a bitter territorial dispute and urged North Korea not to "threaten" regional peace in talks between their foreign ministers here, a Japanese official said. Hirofumi Nakasone and Yang Jiechi, meeting as part of a drive to improve historically testy ties, agreed not to let the row over an energy-rich set of islands overshadow relations.Both re-stated ... more Aus mining takeover target posts huge loss 
Sydney (AFP) Feb 27, 2009Debt-laden Australian miner OZ Minerals, target of a takeover bid by China's Minmetals, posted a full year loss of 2.5 billion dollars (1.6 billion US dollars) Friday. But the company was thrown a lifeline by its lenders who granted an extension on loans -- a precondition for the 2.6 billion Australian dollar takeover bid to proceed. Australian government approval of the takeover of the ... more |
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