(Bloomberg) - Newcrest Mining Ltd., Australia's largest gold-mining company, rose to a record and led gains in Asian producers including Zijin Mining Group Co. after the price of the metal reached its highest ever.
Bullion extended a seven-year rally as the dollar weakened and crude oil reached $100 a barrel for the first time, stoking expectations for inflationary. Gold surged to a record $860.10 an ounce yesterday.
Rising jewelry demand in China and India and from investors seeking a hedge against inflation helped gold more than double in the past five years. Gold miners in China and Australia, the world's second and third-largest producers, are opening new mines and hunting for acquisitions to meet demand.
Read more at Bloomberg
Showing posts with label China. Show all posts
Showing posts with label China. Show all posts
Thursday, January 3, 2008
Sunday, August 5, 2007
Arrow Energy Signs Agreements to Develop Coal Seam Gas Ventures in China
(Bloomberg) -- Arrow Energy NL, an Australian
producer of gas from coal seams, signed two venture agreements
with companies in China's Liaoning province as it seeks to start
production of the fuel in the Asian nation.
The accords with Shenyang Gas Co. and Liaohe Petroleum
Development Co., a unit of China National Petroleum Corp., follow
similar agreements signed over the past weeks, Brisbane-based
Arrow said today in a statement to the Australian Stock Exchange.
Arrow now has seven projects in three geographic regions in the
Asian nation, it said.
Read more at Bloomberg Energy News
producer of gas from coal seams, signed two venture agreements
with companies in China's Liaoning province as it seeks to start
production of the fuel in the Asian nation.
The accords with Shenyang Gas Co. and Liaohe Petroleum
Development Co., a unit of China National Petroleum Corp., follow
similar agreements signed over the past weeks, Brisbane-based
Arrow said today in a statement to the Australian Stock Exchange.
Arrow now has seven projects in three geographic regions in the
Asian nation, it said.
Read more at Bloomberg Energy News
Tuesday, July 31, 2007
China's Purchasing Managers' Activity Slowed in July, Joint Survey Shows
(Bloomberg) -- Manufacturing activity in China
expanded at a slower pace in July, according to a survey of
purchasing managers released today.
The Purchasing Managers' Index fell to 53.3 from 54.5 in
June, the China Federation of Logistics and Purchasing and the
National Bureau of Statistics said in an e-mailed statement.
That was the lowest reading in five months.
Read more at Bloomberg Emerging Markets News
expanded at a slower pace in July, according to a survey of
purchasing managers released today.
The Purchasing Managers' Index fell to 53.3 from 54.5 in
June, the China Federation of Logistics and Purchasing and the
National Bureau of Statistics said in an e-mailed statement.
That was the lowest reading in five months.
Read more at Bloomberg Emerging Markets News
Sunday, July 29, 2007
China CNPC strikes oil of commercial value in Chad
(Reuters) - China National Petroleum Corp. (CNPC) has struck oil of commercial value for the first time in Chad, after buying a 50 percent share of an oil exploration partnership in the landlocked African nation last year.
CNPC, China's top oil and gas producer, did not provide any estimates of oil in place or an even more useful gauge such as recoverable reserves in a news release posted on its Web site (www.cnpc.com.cn) on Monday.
Read more at Reuters Africa
CNPC, China's top oil and gas producer, did not provide any estimates of oil in place or an even more useful gauge such as recoverable reserves in a news release posted on its Web site (www.cnpc.com.cn) on Monday.
Read more at Reuters Africa
Paulson Rejects Criticism, Says Talks With China Have Led to Stronger Yuan
(Bloomberg) -- U.S. Treasury Secretary Henry
Paulson, rejecting claims in Congress that he's too soft on
China, said negotiations rather than sanctions have led to a
faster appreciation of the yuan.
``We are getting results through this process that wouldn't
have been achieved without it,'' Paulson told reporters as he
traveled to China, where he arrived late yesterday. The Chinese
currency's ``rate of appreciation has gone up materially over
the past year,'' he said.
Read more at Bloomberg Emerging Markets News
Paulson, rejecting claims in Congress that he's too soft on
China, said negotiations rather than sanctions have led to a
faster appreciation of the yuan.
``We are getting results through this process that wouldn't
have been achieved without it,'' Paulson told reporters as he
traveled to China, where he arrived late yesterday. The Chinese
currency's ``rate of appreciation has gone up materially over
the past year,'' he said.
Read more at Bloomberg Emerging Markets News
Thursday, July 26, 2007
Poly Plans $2.56 Billion Share Sale to Finance Construction of China Homes
(Bloomberg) -- Poly Real Estate Group Co., China's
third-largest developer by market value, plans to raise as much
as 19.4 billion yuan ($2.56 billion) by selling new shares to
fund the construction of homes in Beijing, Guangzhou and Shanghai.
The offering comprises as many as 350 million yuan-
denominated shares for trading in Shanghai at 55.48 yuan each,
the company, based in Guangzhou, south China, said in a statement
to the city's stock exchange today. That's an 11 percent discount
to the stock's closing price of 62.37 yuan yesterday.
Read more at Bloomberg Emerging Markets News
third-largest developer by market value, plans to raise as much
as 19.4 billion yuan ($2.56 billion) by selling new shares to
fund the construction of homes in Beijing, Guangzhou and Shanghai.
The offering comprises as many as 350 million yuan-
denominated shares for trading in Shanghai at 55.48 yuan each,
the company, based in Guangzhou, south China, said in a statement
to the city's stock exchange today. That's an 11 percent discount
to the stock's closing price of 62.37 yuan yesterday.
Read more at Bloomberg Emerging Markets News
Wednesday, July 25, 2007
Baidu Takes On `Don't Be Evil' Google, Short Sellers in Chinese Showdown
(Bloomberg) -- For Baidu.com Inc., the Google Inc.
imitator with a 58 percent share of the Chinese Web-search
market and a $5.9 billion market value to prove it, the battle
for dominance is just beginning.
At stake is the Internet market in China, the world's
second-biggest after the U.S. by users. Google is gaining
ground, if rising short interest on Baidu is any indication.
Read more at Bloomberg Exclusive News
imitator with a 58 percent share of the Chinese Web-search
market and a $5.9 billion market value to prove it, the battle
for dominance is just beginning.
At stake is the Internet market in China, the world's
second-biggest after the U.S. by users. Google is gaining
ground, if rising short interest on Baidu is any indication.
Read more at Bloomberg Exclusive News
Tuesday, July 24, 2007
McDonald's posts loss after Latin America charge
(Reuters) - Excluding the Latin America charge, McDonald's earned 71
cents a share, in line with a better-than-expected forecast the
fast-food chain gave last week.
In April, McDonald's said it would sell about 1,600
restaurants in Latin America and the Caribbean to a franchisee
so it could focus resources on markets where it sees the
biggest opportunities for growth, such as China.
Read more at Reuters.com Market News
cents a share, in line with a better-than-expected forecast the
fast-food chain gave last week.
In April, McDonald's said it would sell about 1,600
restaurants in Latin America and the Caribbean to a franchisee
so it could focus resources on markets where it sees the
biggest opportunities for growth, such as China.
Read more at Reuters.com Market News
UPDATE 1-GE sees 30-40 pct growth in emerging markets
(Reuters) - GE sold $30 billion in the emerging economies of China,
India, Southeast Asia, Middle East and Africa, and Latin
America last year.
"By 2010, we're estimating sales of $50 billion," said GE
International's chief executive, Ferdinando Beccalli-Falco.
Read more at Reuters.com Mergers News
India, Southeast Asia, Middle East and Africa, and Latin
America last year.
"By 2010, we're estimating sales of $50 billion," said GE
International's chief executive, Ferdinando Beccalli-Falco.
Read more at Reuters.com Mergers News
Monday, July 23, 2007
Barclays lifts ABN offer with China, Singapore help
(Reuters) - British bank Barclays has raised its bid for Dutch group ABN AMRO to 67.5 billion euros, helped by some of the biggest ever overseas investments by China and Singapore.
Barclays said on Monday its new bid was 42.7 billion euros in shares and 24.8 billion euros in cash, up from its previous all-stock offer of 65 billion euros but still below a rival 71 billion euro offer from a group of European banks led by Royal Bank of Scotland.
Read more at Reuters Africa
Barclays said on Monday its new bid was 42.7 billion euros in shares and 24.8 billion euros in cash, up from its previous all-stock offer of 65 billion euros but still below a rival 71 billion euro offer from a group of European banks led by Royal Bank of Scotland.
Read more at Reuters Africa
Barclays Raises ABN Offer to $93.4 Billion With China, Singapore Funding
(Bloomberg) -- Barclays Plc, vying to buy ABN Amro
Holding NV in the biggest banking takeover, raised its offer to
67.5 billion euros ($93.4 billion) after securing investments
from the governments of China and Singapore.
Barclays's revised bid is worth 35.73 euros a share and
includes 37 percent cash, the London-based company said today,
4.3 percent more than its previous offer. The bid remains lower
than the 38.40 euro-a-share offer made last week by a trio of
banks led by Royal Bank of Scotland Group Plc.
Read more at Bloomberg Emerging Markets News
Holding NV in the biggest banking takeover, raised its offer to
67.5 billion euros ($93.4 billion) after securing investments
from the governments of China and Singapore.
Barclays's revised bid is worth 35.73 euros a share and
includes 37 percent cash, the London-based company said today,
4.3 percent more than its previous offer. The bid remains lower
than the 38.40 euro-a-share offer made last week by a trio of
banks led by Royal Bank of Scotland Group Plc.
Read more at Bloomberg Emerging Markets News
Thursday, July 19, 2007
Brazil's Real Rises on Expectations Faster Chinese Growth to Boost Exports
(Bloomberg) -- Brazil's currency rose to a seven-
year high as a report showing economic growth quickened in China
in the second quarter fueled expectations that demand for
Brazilian exports will keep rising.
Growth in China, the third-biggest buyer of Brazilian
exports, accelerated to 11.9 percent in the second quarter, the
fastest pace in 12 years, from 11.1 percent in the first quarter,
the statistics bureau said in Beijing today. China imports
Brazilian commodities including iron ore, soybeans and diamonds.
Read more at Bloomberg Currencies News
year high as a report showing economic growth quickened in China
in the second quarter fueled expectations that demand for
Brazilian exports will keep rising.
Growth in China, the third-biggest buyer of Brazilian
exports, accelerated to 11.9 percent in the second quarter, the
fastest pace in 12 years, from 11.1 percent in the first quarter,
the statistics bureau said in Beijing today. China imports
Brazilian commodities including iron ore, soybeans and diamonds.
Read more at Bloomberg Currencies News
Tin Rises to 18-Year High on Production-Shortfall Concern; Zinc Advances
(Bloomberg) -- Tin led gains in London, rising to
the highest since at least 1989, on speculation that supply
disruptions in Indonesia and Bolivia and increasing demand will
create a shortage of the metal. Lead climbed to a record.
Smelters in Indonesia, the world's second-largest tin
producer, after China, have been restarting production following
a government crackdown on illegal mining earlier this year. The
Bolivian government seized a smelter owned by Swiss commodity
trader Glencore International AG in February.
Read more at Bloomberg Commodities News
the highest since at least 1989, on speculation that supply
disruptions in Indonesia and Bolivia and increasing demand will
create a shortage of the metal. Lead climbed to a record.
Smelters in Indonesia, the world's second-largest tin
producer, after China, have been restarting production following
a government crackdown on illegal mining earlier this year. The
Bolivian government seized a smelter owned by Swiss commodity
trader Glencore International AG in February.
Read more at Bloomberg Commodities News
Wednesday, July 18, 2007
Asian Stocks Rise for First Day in Four; BHP, JFE Holdings Gain on Metals
(Bloomberg) -- Asian stocks rose for the first time
in four days, led by BHP Billiton and Zijin Mining Group Co.,
after copper, gold and oil prices gained.
JFE Holdings Inc., Japan's second-biggest steelmaker, and
Posco climbed after UBS AG said slowing global production is
``supportive'' of prices. China, the world's biggest consumer of
steel, today reported its economy grew in the second quarter at
the fastest pace in 12 years.
Read more at Bloomberg Stocks News
in four days, led by BHP Billiton and Zijin Mining Group Co.,
after copper, gold and oil prices gained.
JFE Holdings Inc., Japan's second-biggest steelmaker, and
Posco climbed after UBS AG said slowing global production is
``supportive'' of prices. China, the world's biggest consumer of
steel, today reported its economy grew in the second quarter at
the fastest pace in 12 years.
Read more at Bloomberg Stocks News
Tuesday, July 17, 2007
Hong Kong Stocks Slide on China Rate Concern; Sinopec, Citic Pacific Fall
(Bloomberg) -- Hong Kong's Hang Seng Index fell,
after yesterday closing above 23,000 for only the second time,
after a report said China's central bank will step up efforts to
cool the economy. China Petroleum & Chemical Corp. and Citic
Pacific Ltd. led the decline.
Mainland reports scheduled for release tomorrow are
expected to show gross domestic product rose at a double-digit
pace for a sixth straight quarter and inflation accelerated to a
two-year high, according to Bloomberg surveys of economists.
Read more at Bloomberg Stocks News
after yesterday closing above 23,000 for only the second time,
after a report said China's central bank will step up efforts to
cool the economy. China Petroleum & Chemical Corp. and Citic
Pacific Ltd. led the decline.
Mainland reports scheduled for release tomorrow are
expected to show gross domestic product rose at a double-digit
pace for a sixth straight quarter and inflation accelerated to a
two-year high, according to Bloomberg surveys of economists.
Read more at Bloomberg Stocks News
Monday, July 16, 2007
PetroChina's Share Rating Is Raised by Deutsche on China Share Sale, Oil
(Bloomberg) -- PetroChina Co. had its stock rating
raised by Deutsche Bank AG because climbing oil prices and a
Shanghai listing by the nation's biggest oil company are likely
to prompt further gains in its shares.
The stock was upgraded to ``buy'' from ``hold'' and the
target price increased to HK$13.38 from HK$12.21, Deutsche Bank
analysts David Hurd and Christine Pu wrote in a research note.
Read more at Bloomberg Emerging Markets News
raised by Deutsche Bank AG because climbing oil prices and a
Shanghai listing by the nation's biggest oil company are likely
to prompt further gains in its shares.
The stock was upgraded to ``buy'' from ``hold'' and the
target price increased to HK$13.38 from HK$12.21, Deutsche Bank
analysts David Hurd and Christine Pu wrote in a research note.
Read more at Bloomberg Emerging Markets News
German Stocks Including Deutsche Bank Advance; Siemens Shares Retreat
(Bloomberg) -- German stocks including Deutsche Bank
AG, Allianz SE and Bayer AG rose. Volkswagen AG climbed after the
carmaker said it expects to boost sales in China. Siemens AG
paced falling shares.
The DAX added 5.25, or less than 0.1 percent, to 8098.02 at
1:07 p.m. in Frankfurt. DAX futures expiring in September were
little changed at 8155. The HDAX Index of the country's 110
biggest companies gained less than 0.1 percent.
Read more at Bloomberg Stocks News
AG, Allianz SE and Bayer AG rose. Volkswagen AG climbed after the
carmaker said it expects to boost sales in China. Siemens AG
paced falling shares.
The DAX added 5.25, or less than 0.1 percent, to 8098.02 at
1:07 p.m. in Frankfurt. DAX futures expiring in September were
little changed at 8155. The HDAX Index of the country's 110
biggest companies gained less than 0.1 percent.
Read more at Bloomberg Stocks News
Sunday, July 15, 2007
China's Cotton Imports Rise 24 Percent in June, Customs Bureau Reports
(Bloomberg) -- China, the world's biggest cotton
consumer, increased purchases of the fiber 24 percent in June
from May as lower domestic supply boosted demand for imports.
Purchases from overseas were 250,000 metric tons last month,
the Beijing-based customs office said in a statement today,
citing preliminary data. This compares with 201,139 tons in May,
and 380,633 tons in June 2006, according to Bloomberg data.
Read more at Bloomberg Commodities News
consumer, increased purchases of the fiber 24 percent in June
from May as lower domestic supply boosted demand for imports.
Purchases from overseas were 250,000 metric tons last month,
the Beijing-based customs office said in a statement today,
citing preliminary data. This compares with 201,139 tons in May,
and 380,633 tons in June 2006, according to Bloomberg data.
Read more at Bloomberg Commodities News
PetroChina's Production Climbs 3.7 Percent, Outpacing Exxon Mobil, Shell
(Bloomberg) -- PetroChina Co.'s first-half
production increased 3.7 percent as the nation's largest oil and
gas producer intensified efforts to meet rising energy demand.
Crude oil and gas output rose to the equivalent of 3.05
million barrels of oil a day, the Beijing-based company said
today. Oil production gained 0.1 percent from a year earlier,
while gas jumped 16.5 percent.
Read more at Bloomberg Emerging Markets News
production increased 3.7 percent as the nation's largest oil and
gas producer intensified efforts to meet rising energy demand.
Crude oil and gas output rose to the equivalent of 3.05
million barrels of oil a day, the Beijing-based company said
today. Oil production gained 0.1 percent from a year earlier,
while gas jumped 16.5 percent.
Read more at Bloomberg Emerging Markets News
China Coal May Raise $2.9 Billion in Shanghai Initial Offer to Fund Growth
(Bloomberg) -- China Coal Energy Co., the nation's
second-largest coal producer by sales, may raise about $2.9
billion in a share offering in Shanghai to fund expansion as the
country's demand for energy surges.
China Coal will sell as many as 1.53 billion yuan-
denominated Class A shares in Shanghai, the Beijing-based company
said in a statement to the Hong Kong stock exchange today. The
sale would be worth 22.2 billion yuan ($2.9 billion) based on the
closing price of HK$14.58 in Hong Kong on July 13.
Read more at Bloomberg Energy News
second-largest coal producer by sales, may raise about $2.9
billion in a share offering in Shanghai to fund expansion as the
country's demand for energy surges.
China Coal will sell as many as 1.53 billion yuan-
denominated Class A shares in Shanghai, the Beijing-based company
said in a statement to the Hong Kong stock exchange today. The
sale would be worth 22.2 billion yuan ($2.9 billion) based on the
closing price of HK$14.58 in Hong Kong on July 13.
Read more at Bloomberg Energy News
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