Aug 14, 2009 -- State-owned Yanzhou Coal Mining Co. buys Australia’s Felix Resources Ltd. for about A$3.5 billion ($2.9 billion), reports Bloomberg
Aug 13, 2009 -- Sinochem Corp., China’s biggest chemicals trader, makes an offer to buy to buy Emerald Energy Plc for 532 million pounds ($881 million). Giving Sinochem Corp., access to oil fields in Syria and Colombia, reports Bloomberg
“The Chinese don’t have enough nickel, don’t have enough oil, and they don’t have enough copper. There’s a crisis coming. They are going around the world buying up what they can. They’re preparing for a rainy day." Jim Rogers, chairman of Rogers Holdings and the author of books including “Investment Biker” and “Adventure Capitalist”, said in a telephone interview yesterday.
Showing posts with label China Demand. Show all posts
Showing posts with label China Demand. Show all posts
Saturday, August 15, 2009
Tuesday, July 7, 2009
Argentina and Spanish oil giant Repsol still thinking...
[China - Argentina - Spain]
Pretty good Wall Street Journal articles hit the presses in NYC today relating to the topic of Repsol selling their assets in Argentina to China
CNOOC Says Interested In Cooperation, Not Takeovers - EFE
Argentina Still Weighs on Repsol
Repsol is playing down speculation about unloading some of its 85% stake in Argentinian oil business YPF. But shareholders must hope a deal materializes, and soon. Apart from its exposure to Argentina's political and economic risks, YPF ties up capital that Repsol could use to develop large recent Brazilian oil discoveries.
Unfortunately, what makes it wise for Repsol to sell YPF may deter potential buyers. YPF's reserves are declining. Buenos Aires has to approve any share sale, while Repsol has committed to keep at least a 50.1% stake until 2012.
YPF also has to satisfy domestic oil demand -- where prices are capped -- before it can export, paying a punitive export tax. Chinese suitors, in particular, will likely bridle at such restrictions.
Click here, or the links above to view the complete articles from the WSJ
Pretty good Wall Street Journal articles hit the presses in NYC today relating to the topic of Repsol selling their assets in Argentina to China
CNOOC Says Interested In Cooperation, Not Takeovers - EFE
Argentina Still Weighs on Repsol
Repsol is playing down speculation about unloading some of its 85% stake in Argentinian oil business YPF. But shareholders must hope a deal materializes, and soon. Apart from its exposure to Argentina's political and economic risks, YPF ties up capital that Repsol could use to develop large recent Brazilian oil discoveries.
Unfortunately, what makes it wise for Repsol to sell YPF may deter potential buyers. YPF's reserves are declining. Buenos Aires has to approve any share sale, while Repsol has committed to keep at least a 50.1% stake until 2012.
YPF also has to satisfy domestic oil demand -- where prices are capped -- before it can export, paying a punitive export tax. Chinese suitors, in particular, will likely bridle at such restrictions.
Click here, or the links above to view the complete articles from the WSJ
Thursday, April 30, 2009
Happy May Day Asia!
A look at some news hitting the presses as those of us in the America's bring our day to a close.
Taiwan’s Warmer China Ties May Speed Recovery From Record Slump
Taiwan’s closer ties with China may help its economy recover more quickly from a record slump, boosting confidence, investment and its ability to benefit from growth in the mainland...
“Taiwan is well-positioned to benefit from the improving cross-strait ties, especially with China expected to come back robustly from this economic crisis,” said Prakash Sakpal, an economist at ING Bank NV in Singapore. “Demand from China will be a good buffer.”
China Banks Surge to World’s Biggest May Be Too Good to Be True
Just when the world is beginning to appreciate China’s biggest banks, unencumbered by Wall Street assets of no discernible value and fortified by record first- quarter lending, some analysts say it’s too good to be true.
While Industrial & Commercial Bank of China Ltd., China Construction Bank Corp. and Bank of China Ltd., three of the world’s four largest banks by market value, led an increase in lending focused on investments in railways, roads and ports, similar state-directed loans caused bad debts to snowball in the 1990s. The resulting rescue cost $650 billion and took 10 years.
“We suspect some of the banks may have compromised their risk-management and risk-aversion attitude to meet targets and government expectations,” said Wen Chunling, a Beijing-based analyst at Fitch Ratings. “That will lead to a rebound in non- performing loans in the next few years.”
Asia Seeks Reserve Pool Completion Amid Growth Recovery Signs
Southeast Asian finance ministers and their counterparts from Japan, China and South Korea may complete discussions on a currency pool agreement this weekend amid signs the worst of the region’s economic crisis may be over.
Officials from 13 countries are gathering in Bali on May 3 to finalize each nation’s contribution to the $120 billion pool of foreign-exchange reserves that can be used to defend their currencies in times of financial turmoil. They will meet at the sidelines of the Asian Development Bank’s annual meeting on the Indonesian resort island.
“As recent as a few months ago, there were expectations that at least one country will need to tap the reserve pool for funds before this crisis is over,” said Vishnu Varathan, a regional economist at Forecast Singapore Pte. “With signs that the slowdown is easing and of stability in the financial arena, that seems unlikely now.”
Australia - Swan warns revenue write-off may be one of biggest
AUSTRALIA will register a revenue write-down in the Federal Budget of more than $115 billion due to the global financial crisis, Treasurer Wayne Swan says.
"Certainly, there's been a revenue write-down because of the global recession between the last Budget and February of about $115 billion,'' Mr Swan told reporters in Sydney.
Because of slowing growth, the global recession had become worse and there would be further revenue write-downs in next month's Budget, he said.
Taiwan’s Warmer China Ties May Speed Recovery From Record Slump
Taiwan’s closer ties with China may help its economy recover more quickly from a record slump, boosting confidence, investment and its ability to benefit from growth in the mainland...
“Taiwan is well-positioned to benefit from the improving cross-strait ties, especially with China expected to come back robustly from this economic crisis,” said Prakash Sakpal, an economist at ING Bank NV in Singapore. “Demand from China will be a good buffer.”
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
China Banks Surge to World’s Biggest May Be Too Good to Be True
Just when the world is beginning to appreciate China’s biggest banks, unencumbered by Wall Street assets of no discernible value and fortified by record first- quarter lending, some analysts say it’s too good to be true.
While Industrial & Commercial Bank of China Ltd., China Construction Bank Corp. and Bank of China Ltd., three of the world’s four largest banks by market value, led an increase in lending focused on investments in railways, roads and ports, similar state-directed loans caused bad debts to snowball in the 1990s. The resulting rescue cost $650 billion and took 10 years.
“We suspect some of the banks may have compromised their risk-management and risk-aversion attitude to meet targets and government expectations,” said Wen Chunling, a Beijing-based analyst at Fitch Ratings. “That will lead to a rebound in non- performing loans in the next few years.”
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Asia Seeks Reserve Pool Completion Amid Growth Recovery Signs
Southeast Asian finance ministers and their counterparts from Japan, China and South Korea may complete discussions on a currency pool agreement this weekend amid signs the worst of the region’s economic crisis may be over.
Officials from 13 countries are gathering in Bali on May 3 to finalize each nation’s contribution to the $120 billion pool of foreign-exchange reserves that can be used to defend their currencies in times of financial turmoil. They will meet at the sidelines of the Asian Development Bank’s annual meeting on the Indonesian resort island.
“As recent as a few months ago, there were expectations that at least one country will need to tap the reserve pool for funds before this crisis is over,” said Vishnu Varathan, a regional economist at Forecast Singapore Pte. “With signs that the slowdown is easing and of stability in the financial arena, that seems unlikely now.”
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Australia - Swan warns revenue write-off may be one of biggest
AUSTRALIA will register a revenue write-down in the Federal Budget of more than $115 billion due to the global financial crisis, Treasurer Wayne Swan says.
"Certainly, there's been a revenue write-down because of the global recession between the last Budget and February of about $115 billion,'' Mr Swan told reporters in Sydney.
Because of slowing growth, the global recession had become worse and there would be further revenue write-downs in next month's Budget, he said.
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