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NEW YORK: Oil prices continued to retreat on Wednesday as another week of fuel inventory buildup weighed on the energy commodities. Light, sweet crude for June delivery fell 72 cents to settle at $75.65 a barrel on the New York Mercantile Exchange. Crude futures dropped to as low as $74.91 a barrel during trading. The June contract is $4.5 cheaper than ...
LONDON - European stock markets and the euro advanced on Wednesday after Spain unveiled new spending cuts which helped offset worries about the continent's debt crisis. Britain's financial markets meanwhile gave a lukewarm response to the country's first coalition government since World War II. Solid German economic growth figures also helped fuel the ...
Beijing - Businessman and philanthropist George Soros has started assisting China's low-carbon and climate change research by supporting a policy centre at renowned Tsinghua University. Opened with a low-key ceremony at Tsinghua University last week, the Climate Policy Institute is the third such centre supported by Soros, who has committed to donating $...
BEIJING: The United States wants to work with China to expand the global economy and promote the development of the green economy, said a US Commerce Department official Wednesday in Beijing. Cameron Kerry, General Counsel of the US Department of Commerce, said at a news briefing at the US embassy that the two countries faced an important time in their re...
BEIJING - Oil refiner Sinopec has started work on a commercial crude reserve base with a capacity of 3.2 million cubic meters in Tianjin, in line with the nation's plan to build more reserves for energy security. The reserve is designed to have 32 oil tanks each with capacity of 100,000 cu m. A 22-km pipeline will also be built, with an annual capacity o...
TOKYO – Toyota cruised back to profit in the latest quarter as the world's top carmaker cut costs and hitched a ride on the global auto sales recovery while fighting to salvage its reputation for quality. Toyota Motor Corp said Tuesday that January-March profit totaled 112 billion yen ($1.2 billion) compared with a 766 billion yen loss the year bef...
LONDON: The euro lost all of Monday's gains on concern the $1 trillion bailout will hurt European economic growth. Stocks fell, paring the MSCI World Index's biggest advance in a year. The euro fell 0.8 percent against the dollar at 7:09 am in New York, trading below the level it was at before the European Union-led aid package was announced early on Mo...
SINGAPORE – Oil prices fell to near $76 a barrel Wednesday in Asia as investors weighed growing global crude demand against a fragile euro. Benchmark crude for June delivery was down 10 cents to $76.27 a barrel at late afternoon Singapore time in electronic trading on the New York Mercantile Exchange. The June contract fell 43 cents to settle at $76...
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