Posts Tagged ‘depression’

Sinopec sees profits slide

by on October 29, 2012 4:15 am BST
The company posted a profit of 42.8 billion yuan ($6.8 billion) for the nine months to 30 September, down more than 30% on the 61.4 billion yuan profit booked during the same period a year ago.Sinpoec attributed the fall in profits largely to the “plummeting results” of its chemicals segment as a

Federal Reserve’s Bernanke says U.S. stimulus also a boon for global growth

by Forex Rooton October 14, 2012 4:19 am BST
By Pedro Nicolaci da Costa WASHINGTON | Sun Oct 14, 2012 12:19am EDT WASHINGTON Oct 14 (Reuters) - Federal Reserve Chairman Ben Bernanke on Sunday denied the U.S. central bank's highly stimulative monetary policy hurts emerging economies, saying stronger growth in the United States bolsters global prospects as well. Bernanke has often defended

Brent recovers some ground to near $109

by on September 20, 2012 3:24 pm BST
A slew of bearish news - from weak China data to Saudi output pledges - has wiped more than $9 off Brent since last Friday."We do regard the scale and above all the speed of the price slide as excessive," said a Commerzbank research note. "We expect to see a counter-movement

INA hits oil in northeast Croatia

by on September 11, 2012 1:48 pm BST
The explorer, which is owned by Hungary’s MOL and the Croatian government, said that it made the find at a depth of about 1000 metres with the Deletovci-1 Zapad probe. The company did not give further details on the extent of the find other than to say it had tested at