By Jason Simpkins Staff Writer Korea’s Posco Ltd., Asia’s third-largest steelmaker, has landed a $350 million contract to build the biggest blast furnace in India, Bloomberg News said Wednesday. The furnace, a key part of the steel-making process, is for the Steel Authority of India Ltd., which is 85.84% state owned. It makes 14 million […]
Archives for September 2007
September 2007 - Page 4 of 12 - Money Morning - Only the News You Can Profit From
Central Asian Nations Band Together to Build A Modern Day Silk Road
From Staff Reports Seven countries are working together to build a modern day ‘Silk Road’ that will run through Asia to the Middle East and Europe. The Financial Times reported that the parties involved are in the early stages of planning the $19 billion project. The plan is expected to receive formal endorsement in November. […]
How to Profit From the Dubai-China Connection
By Keith Fitz-Gerald Contributing Editor It was only back in August that I penned a report that I titled, The China Connection: Why Dubai Is Really Interested In MGM. Within that little investment treatise, I suggested that the “real” story wasn’t Dubai’s investment in MGM – as most analysts thought. It was Dubai’s interest in […]
Oil Surges Toward $85 A Barrel
By Jason Simpkins Staff Writer Crude oil spiked to a new all-time intra-day high of $82.51 a barrel – finally closing at a record $81.93 a barrel, up 42 cents – on the New York Mercantile Exchange yesterday (Wednesday), thanks to continued concerns over refinery outages and after a U.S. Energy Department report showed a […]
Global Business Roundup: BoE Injects $20B, Steel Prices Surge, Arcelor on the Prowl, Mitsubishi Plugs Into Russia, H-P is Taken With Taiwan, Hyundai Eyes China, and More
In other top business and financial stories from around the world: The Bank of England said yesterday (Wednesday) that it would inject $20 billion into the long-term money markets next week because of the ongoing worldwide credit crunch. The British central bank is addressing liquidity issues in the so-called “Interbank” market – where commercial banks […]
Germany Eyes Ownership Stake in Airbus Parent EADS
From Staff Reports Germany could take a direct stake in the problem-plagued European Aeronautic Defence and Space Co. NV aerospace group – the parent of airliner builder Airbus SAS – in 2010, a German official said Tuesday. Germany would replace a consortium made up of German states and investors, Germany’s Deputy Economy Minister for Aerospace […]
EU Presses for More Energy Control
By Jason SimpkinsStaff Writer The European Commission yesterday (Wednesday) introduced a plan calling for a massive restructuring of power grids throughout the continent. The plan was designed to reduce the region’s vulnerability to the massive energy companies that control the production and transmission of gas and electricity. Currently, large energy companies monopolize energy production and […]
SK Group Getting Huge Boost From Asian Expansion
From Staff Reports SK Engineering & Construction, an affiliate of South Korean industrial conglomerate SK Group, has been turning its focus away from its small peninsula to the expanding economies of India, Singapore, Indonesia and Thailand, where industrial plants are popping up at rapid pace. Earlier this month, SK E & C reached a deal […]
Honeywell Snags a $16 Billion Contract for Airbus' A350 aircraft
From Staff Reports Honeywell International Inc. (HON) announced yesterday (Wednesday) that it won a $16 billion contract to provide mechanical systems for Airbus SAS’s long-range, wide-body A350 aircraft. The 20-to 25-year contract will give New Jersey-based Honeywell, the world’s biggest maker of auxiliary power generation units, clearance to design and build systems that supply pneumatic […]
South Korean Government Imposes Discounts on Mobile Phone Subscribers
From Staff Reports SK Telecom (SKM), a SK Group subsidiary, took a cue from the U.S.-based Verizon Communication Inc. (VZ) by lowering rates for calls made from one SK Telecom subscriber to another — providing they agree to a 2,500 won ($2.70) increase in their monthly bill. SK Telecom is the largest mobile carrier in […]