15 September 2019

Resources,Power & Utilities

  • Smoke billows from an Aramco factory in Abqaiq, Saudi Arabia, on Saturday. Photo: Screenshot from video obtained by Reuters via Reuters

    Attacks knock out half of Saudi oil supply

    Sep 15, 2019 9:07am
    Yemen’s Iran-aligned Houthi group said it attacked two plants at the heart of Saudi Arabia’s oil industry on Saturday, knocking out more than half the Kingdom’s output, in a move expected to send oil prices soaring...
  • Aramco's partnership with Reliance will cover all of the Indian conglomerate's refining and petrochemical assets. Photo: Bloomberg

    India’s Reliance to sell 20% stake in energy business to Aramco

    Aug 12, 2019 4:24pm
    India’s Reliance Industries, controlled by mega-billionaire Mukesh Ambani, is set to sell a 20 percent stake in its oil and chemicals business to Saudi Aramco, according to an announcement on Monday. “(This is) the biggest foreign...
  • Liu Zhongtian, seen here in a file picture from 2009, has been accused of scheming with Zhongwang Holdings to evade US$1.8 billion of tariffs by smuggling huge amounts of aluminum into the US. Photo: Reuters

    China tycoon indicted in US for alleged aluminum tariff evasion

    Aug 1, 2019 9:24am
    A Chinese billionaire has been indicted by a grand jury in the United States on charges that he schemed with the aluminum company he founded to evade US$1.8 billion of tariffs by smuggling huge amounts of...
  • The United States does not have enough capacity to make samarium cobalt rare earth permanent magnets, which are commonly found in precision-guided missiles, smart bombs and military jets. Photo: Bloomberg

    Trump tells Pentagon to find better sources of rare earth magnet

    Jul 23, 2019 9:10am
    US President Donald Trump told the Pentagon to find better ways to procure a rare earth magnet used in specialty motors, warning that the nation’s defense would suffer without adequate stockpiles, Reuters reports. Attention is growing...
  • Following a complaint from a state-owned steel producer, China has imposed anti-dumping duties on some steel products from the EU and three Asian nations. Photo: Reuters

    China slaps anti-dumping duty on steel products from EU, S Korea

    Jul 22, 2019 1:08pm
    China announced on Monday that it will impose anti-dumping duties on some stainless steel products imported from the European Union, Japan, South Korea and Indonesia, Reuters reports. Anti-dumping tariffs of 18.1 percent to 103.1 percent will...
  • Before its removal from the App Store, OurPact said it had more than 3.5 million downloads and that 80 percent of its revenue was from Apple. Photo: Reuters

    Apple reinstates OurPact parental control app

    Jul 12, 2019 8:42am
    Apple Inc. has restored a software application to its App Store that let parents control their children’s iPhone usage after removing it in February, Reuters reports. The removal of the app, OurPact, was criticized by software...
  • China, the world’s dominant rare-earths producer, is said to be considering using its control over the supply of the minerals as leverage in its trade conflict with the United States. Photo: Bloomberg

    Chinese firms plan rare earth manufacturing hub in Hebei

    Jun 20, 2019 9:39am
    A group of Chinese firms jointly established a rare earths innovation center in the northern province of Hebei as part of a plan to develop a manufacturing base in the region, Reuters reports. The center in...
  • Zhang Shiping oversaw the growth of China Hongqiao Group into the world’s largest aluminum producer. File photo: Reuters

    China aluminum tycoon Zhang Shiping dies at 73

    May 24, 2019 12:48pm
    Zhang Shiping, who oversaw the rise of China Hongqiao Group into the world’s biggest aluminum producer, died on Thursday at the age of 73, Reuters reports, citing a statement from the firm. Zhang, who in 1994...
  • As production of corn and wheat in the Black Sea region has soared, what happens in Russia and the Ukraine is of great importance. Photo: Reuters

    How grain, oilseed prices dance to a new global tune

    - May 10, 2019 9:48am
    Agricultural prices are often at the mercy of the weather and a set of economic forces including planting, growing-and-harvest cycles and crop inventories. These risk factors are important price determinants. But in addition to them, macroeconomic...
  • Google announced new privacy controls and policies at its annual developers’ conference on Tuesday. Photo: Reuters

    Google plans new browser tools on privacy, ad transparency

    May 8, 2019 8:12am
    Alphabet Inc. unit Google in the coming months plans to introduce new internet browser tools to limit how users’ web activity is tracked by advertising companies and give them greater insight into why certain ads are...
  • The copper industry has suffered from years of underinvestment, and it is now working feverishly to develop new mines and bring fresh supply online amid  the electrification trend. Photo: Reuters

    Tesla expects global shortage of EV battery minerals: report

    May 3, 2019 8:46am
    Tesla Inc. expects global shortages of nickel, copper and other electric-vehicle battery minerals down the road due to underinvestment in the mining sector, the company’s global supply manager for battery metals told an industry conference on...
  • China’s iron and steel sector should work to avoid illicit increase in new capacity, reduce leverage and push forward with the restructuring of “zombie firms”, an industry association said. Photo: Reuters

    China iron & steel assn warns on overcapacity, shrinking profits

    Apr 29, 2019 9:11am
    The China Iron and Steel Association warned on Sunday that the industry faces ongoing risks from excess capacity, as well as sluggish demand and increased raw material costs that could squeeze profits, Reuters reports. The nation’s...
  • Next Digital's Apple Daily saw its subscription surge after it published a video of actress Jacqueline Wong in a compromising scene with pop singer Andy Hui, who is married to Sammi Cheng (left). Photo: CNSA/screen grab from Apple Daily video

    How Apple Daily acquired 380,000 new subscribers in one day

    - Apr 17, 2019 11:30am
    Many media experts have pooh-poohed the move by Jimmy Lai Chee-ying’s Next Digital to implement a subscription model for its flagship Apple Daily’s online edition, arguing that readers simply won’t pay for content and they are...
  • Aramco's bond sale is seen as a gauge of potential investor interest in the Saudi state oil giant's eventual initial public offering. Photo: Reuters

    Aramco to raise US$12 bln in bond sale after record demand

    Apr 10, 2019 9:24am
    Saudi Aramco is set to raise US$12 billion with its first international bond issue after receiving more than US$100 billion in orders, a record breaking vote of market confidence for the Saudi state oil giant, Reuters...
  • Dozens of senior officials and executives have been punished in China's campaign against corruption. Photo: AFP

    Jiangxi Copper ex-chairman gets 18-year jail term for corruption

    Jan 30, 2019 9:30am
    A former head of Jiangxi Copper Co. (00358.HK, 600362.CN), one of China’s top copper producers, was sentenced to 18 years in jail and handed a 2.2 million yuan (US$326,656.67) fine after being found guilty of bribery...
  • The Hyundai Oilbank deal will help Saudi state oil giant Aramco expend its footprint in a key Asian market. Photo: Reuters

    Aramco plans to buy US$1.6 bln stake in Hyundai Oilbank

    Jan 28, 2019 3:50pm
    Saudi Aramco plans to invest up to US$1.6 billion for a nearly 20 percent stake in South Korean refiner Hyundai Oilbank, Reuters reports. Under the proposed deal, the Saudi state oil giant will take up to...
  • Rusal and other firms linked to Russian oligarch Oleg Deripaska have committed to greater transparency in relation to their operations, according to the US Treasury Department. Photo: Reuters

    US lifts sanctions on Rusal, other firms linked to Deripaska

    Jan 28, 2019 9:00am
    The Trump administration on Sunday lifted sanctions on aluminum giant Rusal and other Russian firms linked to oligarch Oleg Deripaska, despite a Democratic-led push in the US Congress to maintain the restrictions, Reuters reports. Earlier this...
  • Warren Buffett’s Berkshire Hathaway has geothermal wells that could produce up to 90,000 tons of lithium a year worth US$1.5 billion at current prices, the Financial Times reported. Photo: Bloomberg

    Berkshire denies report on accord to extract lithium

    Jan 21, 2019 10:38am
    A unit of Berkshire Hathaway Inc. denied a report on Sunday that it reached an agreement to allow extraction of lithium from its geothermal wells in California, a project that could offer US carmakers and battery...
  • CNPC is said to be ready to take over Total's stake in the project, which the French company has abandoned because of US sanctions on Iran. Photo: Reuters

    Iran: China’s CNPC replacing France’s Total in gas project

    Nov 26, 2018 9:23am
    China’s state-owned China National Petroleum Corp. (CNPC) has replaced France’s Total in Iran’s multibillion-dollar South Pars gas project, Iranian Oil Minister Bijan Zanganeh said, according to the semi-official news agency ICANA on Sunday. “China’s CNPC has...
  • Oil prices continue to decline amid worries about weakening global demand and oversupply. Photo: Bloomberg

    Oil slumps 7 percent to one-year low

    Nov 14, 2018 7:46am
    Oil’s slide accelerated on Tuesday amid worries about weakening global demand and oversupply, Reuters reports. US futures closed down 7.1 percent, for a record 12th straight decline and the lowest since November 2017. More than 980,000...