By Jason Simpkins Staff Writer Hon Hai Precision Industry Co. Ltd, the world’s No. 1 contract-manufacturer of consumer-electronics products, is boosting its Vietnam investment to $5 billion. The company originally planned to invest $1 billion, but the increased outlay underscores Vietnam’s strong prospects. Vietnam, which joined the World Trade Organization (WTO) in January, is one […]
Archives for August 2007
August 2007 - Money Morning - Only the News You Can Profit From
France's Carrefour Will Sell Real Estate, Launch Share Buyback
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From Staff Reports France’s Carrefour SA – the world's biggest retailer after Wal-Mart– is finally tapping the property market to bring up some cash for its shareholders. On Thursday France's Carrefour announced it would sell a chunk of its enormous real estate portfolio through an initial public offering next year and would also sell other […]
Sarkozy Tells France to Embrace Globalization - But in a 'French Way'
From Staff Reports Calling the global free markets an “illusion”, new French President Nicholas Sarkozy has vowed to keep French interests at heart in the home market even as he helps French companies become powerhouses in the rapidly emerging global markets, the International Herald Tribune reported Thursday. Sarkozy was elected earlier this year, and is […]
China's Gold Output Jumps More Than 15%, Makes it a Target for Investment Profits
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From Staff Reports China’s gold output jumped 15.44% in the first seven months of the year, the biggest growth in the past 10 years, China’s state-run Xinhua news agency reported yesterday (Thursday). Total gold production reached 145 tons so far this year, the news agency said. China’s gold industry produced 240 tons of gold and […]
Rio Tinto Gets Canadian Clearance, $40 Billion in Loans for Alcan
From Staff Reports Worldwide mining giant Rio Tinto PLC (RTP) said yesterday (Thursday) that the Canadian government has signed off on its $38 billion purchase of Alcan Inc. (AL), noting that the deal raises no anticompetitive issues. The Canadian Competition Act clearance was one of the conditions of the deal’s consummation. Rio also essentially thumbed […]
Guest Commentary: It's Housing - Not Earnings - Driving This Market
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As I’ve been suggesting the past few weeks, the stock market is not out of the woods yet. Some investors find this perplexing. After all, economic growth is solid, inflation is tame, the Fed has cut the discount rate (and is likely to cut the Fed Funds rate on, or before, the Sept. 18 meeting) […]
The Philippines' 7.5% GNP Growth is No Fluke
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By Mike Caggeso Staff Writer All the hot talk of China, India and even Vietnam’s soaring economies have overshadowed a country that has been making gains for the past decade — the Philippines. Fueled by a steady economy and a surging service sector, the archipelago country posted a 7.5% GNP growth for the second quarter, […]
Message to Bernanke: Don't Give in to Speculative Clamor
When Fed Chairman Ben S. Bernanke addresses the Kansas City Fed's annual economic symposium in Jackson Hole, Wyoming, today (Friday), he’ll have to acknowledge that the risks to U.S. economic growth have increased – especially with the disruption to the credit markets and the tightening of credit in many areas. But Bernanke will also likely […]
Government Ready to Intervene in China's Inflation Troubles
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By Mike Caggeso Staff Writer China’s growing inflation rate will force government intervention later this year, Su Ning, deputy governor of the People’s Bank of China, said. Inflation hit a 10-year high at 5.6% in July. Food prices — hampered by a lackluster wheat harvest and an outbreak in pig diseases — accounted for 80% […]
Shell and Dow Plan a Move Into Future Iraqi Oil Market
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From Staff Reports Anglo-Dutch oil company Royal Dutch Shell (NYSE: RDS.A) is reportedly in talks with Dow Chemical Co. (NYSE: DOW) to develop an Iraqi petrochemical plant for $2.1 billion. The goal of the deal is to give the two firms a beachhead in the Iraqi oil market if that industry ever gets restarted. Some […]
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