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By ELAINE KURTENBACH Associated Press Writer Jun 25th, 2009 | SHANGHAI -- Sinopec, with its $7.2 billion bid for Addax Petroleum, is seeking crucial production capacity and coveted reserves in West Africa and the Middle East to help balance its heavy reliance on crude oil processing. News that Addax's board had approved the offer by Sinopec, formally known as China Petroleum & Chemical Corp., helped push the Beijing-based company's shares up 1.6 percent Thursday to 10.69 yuan in early trading. The deal would be the largest ever overseas takeover by a Chinese company, although is only half the size of last year's acquisition by Aluminum Corp. of China, with Alcoa Corp., of a 12 percent stake in global miner Rio Tinto PLC. That deal was worth $14.3 billion. The proposed acquisition must still be approved by regulators. But a... [read full story]
1 Smoot-Hawley The most famous act of protectionism took place in the 1930s when the US government, facing the early forces of depression, legislated to impose tariffs on over 20,000 imported goods – some significantly. The act...
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Moore & Bradfield based in Hungerford in Berkshire, create timeless interiors for English Homes. By researching period detail and colour and the use of an eclectic mix of styles, they create rooms that are enduring, functional...
In his 9 day quick tour across Asia, Obama has touched the right nerves and talked about the right issues. Releasing Aung San Suu Kyi , Nobel laureate and the political leader of the opposition, should be at the top of the...
