Ongoing worries over China's economy weighed Asian equity markets down on Wednesday, while overnight losses on Wall Street further ignited a flight-to-safety.» Read More
SHANGHAI, April 15- China's yuan softened on Tuesday after the central bank fixed its official midpoint at a seven-month low, as traders said major Chinese industrial companies were stocking up on dollars for trade as well as mergers and acquisitions.
Helped by strong government support, plentiful labour and an abundant supply of raw materials like steel, China could become a major offshore oil equipment manufacturing hub in less than 10 years, industry executives say, just like Singapore and South Korea overtook the United States and Europe in the 1990 s.
*China now looking at using fuel to make petrochemicals. BEIJING, April 10- A deal between China's top refiner Sinopec Corp and Phillips 66 could be a game changer that signals the United States is on track to become one of the top suppliers of liquefied petroleum gas to the world's second-biggest economy.
*Investigation into Zhou Yongkang has broadened in past four months. BEIJING, March 30- Chinese authorities have seized assets worth at least 90 billion yuan from family members and associates of retired domestic security tsar Zhou Yongkang, who is at the centre of China's biggest corruption scandal in more than six decades, two sources said.
HONG KONG, March 24- China shares listed in Hong Kong extended gains on Monday to reach a two-week high on expectations the Chinese government could unveil stimulus measures after a weak factory survey. The China Enterprises Index of the top Chinese listings in Hong Kong rose 2.8 percent to 9,695 points, its largest daily gain since Nov. 18.
HONG KONG, March 23- China Petroleum and Chemical Corp reported a 35 percent drop in fourth quarter net profits, bigger than expected, as improved profitability at its refining division was offset by a dip in upstream earnings.
*PetroChina posts 21 pct yr-yr rise in Q4 net profit; 2013 profit up 12 pct. producer PetroChina Co Ltd said on. "Last year marked a turning point for PetroChina," Chairman Zhou Jiping told reporters after the company posted a 21 percent rise in fourth quarter net profit, largely due to government hikes in natural gas prices and an improvement in its refining business.
*Plans comeback with major gas export project in Canada. BEIJING, March 19- A Chinese oil tycoon, who lost his fortune after being jailed for embezzlement in 2007, aims to make his comeback with an ambitious project in Canada to export gas back to his homeland.
LONDON, March 18- China's biggest refiner Sinopec is in talks with Malaysia's Petronas to buy a 15 percent stake in a $20 billion Canadian liquefied natural gas project, three sources with knowledge of the matter said.
*Investors cheer Sinopec chairman comments, lift PetroChina too. HONG KONG, March 7- Chinese oil giants Sinopec and PetroChina outperformed the broader Hong Kong and China stock markets early on Friday, on hopes that both companies will be beneficiaries of policy reforms at the ongoing National People's Congress.
LONDON, March 5- Iraq is reclaiming its rank as the world's fastest-growing oil exporter, cushioning consumers from Libyan supply outages for now and, perhaps, reviving OPEC market share rivalries down the road.
*Plans to raise China's grain production capacity by 50 million tonnes. BEIJING, March 5- China plans to broaden the scope and increase spending on agricultural subsidies for grains and other commodities in a bid to boost food security, the country's top economic planner said on Wednesday.
HONG KONG, March 4- Hong Kong shares rebounded on Tuesday, with strength in the Chinese technology and Macau gaming sectors helping benchmark indexes claw back some of the steep losses seen in the previous session following an escalation in Ukraine- Russia tensions.
BEIJING, March 4- China's decision last month to sell a stake in a subsidiary of Sinopec Corp signals more privatisation of its bloated state-owned sector will take place soon, with plans likely to be discussed at this week's parliament session, officials and experts said.
HONG KONG, March 3- Shanghai shares had a fourth-straight daily gain on Monday, outshining most Asian markets, with Sinopec and PetroChina firmer on hopes that coming parliamentary meetings will yield more progress on state-owned enterprises reform. The CSI300 of the largest Shanghai and Shenzhen A-share listings rose 0.5 percent.
*Focus on China annual parliamentary meeting opening Wed. *China property sinks after surveys show moderating home prices.
HONG KONG, Feb 21- Shanghai shares erased weekly gains on Friday, as investors took profits on outsized gains the previous day for Sinopec and PetroChina ahead of a bevy of corporate earnings results due next week.
*Earnings: AIA, Parkson Retail down; Citic Pacific up. HONG KONG, Feb 21- Falls in PetroChina and Sinopec shares hurt Hong Kong and mainland markets early Friday, as investors took profit on their outsized gains the previous day as scepticism lingers on how much China's state-owned enterprises will be reformed.
*China banks hit by new liquidity regulations. *Tencent sinks after Facebook's WhatsApp deal. HONG KONG, Feb 20- Hong Kong shares fell from a four-week high early on Thursday, and losses accelerated after a preliminary private survey showed manufacturing activity in China slowed to a seven-month low, stoking fears of a more severe slowdown.
*Russia, Iraq oil sales rise more than projected China import growth. *Latin America, Africa volumes to China dropping this year.