Chemicals
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*Insider deals figured in many China- based company frauds. Over the past two years, investors have suffered massive losses after U.S.-listed companies based in China funneled company assets to insiders in improper business deals.
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*Insider deals figured in many China- based company frauds. Over the past two years, investors have suffered massive losses after U.S.-listed companies based in China funneled company assets to insiders in improper business deals.
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May 7- Dow Chemical Co has received $2.2 billion in damages from Kuwait's state chemicals company, bringing an end to a more than four-year dispute over a scrapped plastics joint venture. Last year the International Chamber of Commerce's International Court ruled that PIC had violated its agreement with Dow Chemical.
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NEW YORK-- Shares of some top chemicals companies are up at 10 a.m.:. Dow Chemical Co. rose$. 59 or 1.7 percent, to $34.60. DuPont Co. rose$. 47 or. 9 percent, to $54.36.
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May 7- Dow Chemical Co said it has received $2.2 billion as damages from Kuwait's state-run chemicals company, a year after an arbitrator told Petrochemical Industries Co to pay up for cancelling a planned plastics joint venture in 2008.. The cash payment includes damages as well as recovery of its costs, Dow Chemical said.
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SINGAPORE, May 7- The Asian naphtha price rose on Tuesday for the third straight session to a four-session high of $862.00 a tonne but its intermonth spread stayed at $10.50 a tonne after falling to a three-week low on Monday due to heavy supplies.
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BRUSSELS, May 7- Belgium's Solvay took a first step towards casting off its PVC business by agreeing a joint venture with privately-hold INEOS, which will ultimately take full control of the unit.
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**Germany's Hochtief AG has agreed to the 1.1 billion euros sale of its airports division, ending a lengthy quest for a buyer and giving fresh impetus to a strategy rethink led by its CEO appointed just six months ago.
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Net Profit 1509.7 vs 912.3 Net Sales 13.97 vs 10.15 EPS 5.29 vs 3.2 Results are consolidated NOTE: Sintex Industries is a plastics products maker* Source text:* Further company coverage ().
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BEIJING, May 7- China's Huabei Petrochemical Company, a subsidiary of oil major PetroChina, is expected to double its refining capacity by the end of 2014, two years behind its original plan, industry officials said on Tuesday.
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BRUSSELS, May 7- Belgian chemicals and plastics maker Solvay plans to exit its European PVC business through the formation of a joint venture with chemicals peer INEOS and the subsequent full sale of operations in four to six years.
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BRUSSELS, May 7- Brussels- based chemicals and plastics maker Solvay and chemicals group INEOS will combine their European PVC plastics operations in a joint venture with sales of some 4.3 billion euros, the two companies said on Tuesday.
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France's No. 2 listed bank is to cut 900 million euros in costs over the next three years after a weak domestic economy and one-off charges halved quarterly earnings.
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TOKYO, May 7- The benchmark Nikkei average. Asahi Kasei Corp jumped 5.5 percent to 697 yen, its highest level since January 2008, after the Nikkei business daily reported that the chemical company was projected to book a record operating profit for the fiscal year ending March 2014, thanks to strong housing sales.
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NEW YORK-- Shares of some top chemicals companies were mixed at the close of trading:. Dow Chemical Co. rose$. 05 or. 1 percent, to $34.01. DuPont Co. fell$. 05 or. 1 percent, to $53.89.
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NEW YORK-- Shares of some top chemicals companies are down at 1 p.m.:. Dow Chemical Co. fell$. 03 or. 1 percent, to $33.93. DuPont Co. fell$. 04 or. 1 percent, to $53.90.
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NEW YORK-- Shares of some top chemicals companies are down at 10 a.m.:. Dow Chemical Co. fell$. 11 or. 3 percent, to $33.85. DuPont Co. fell$. 06 or. 1 percent, to $53.88.
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BRUSSELS, May 6- The following are mergers under review by the European Commission and a brief guide to the EU merger process:. --RAG trust and buyout firm CVC Capital Partners to sell part of their shares in German chemicals company Evonik Industries.
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May 4- The flight from San Fransisco to Phoenix took 18 hours and 18 minutes on Saturday- and didn't use a drop of fuel. A solar-powered airplane that developers hope eventually to pilot around the world landed safely in Phoenix on the first leg of an attempt to fly across the United States using only the sun's energy, project organizers said.
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Saudi Basic Industries Corporation, the world's top petrochemicals company, is up 1.66 percent while Saudi Arabia's biggest listed lender, Al Rajhi Bank, is up 0.76 percent. Kingdom Holding closes up 0.88 percent.