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Olam International Ltd

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  • SYDNEY, May 8- Australian almond producers are boosting output to meet growing Asian demand for the nut used for making milk and eaten as a healthy snack, hoping to steal market share from dominant U.S. farmers struggling because of protracted drought in California. Singapore- based Olam International, Australia's biggest almond producer, agreed a deal last...

  • Failing Ghana cocoa harvest drives global prices higher Wednesday, 6 May 2015 | 9:19 AM ET

    *Traders in Europe scramble for Ghana cocoa stock. *Ghana may have oversold crop by as much as 200,000 tonnes. ENCHI, Ghana/ LONDON, May 6- A poor cocoa harvest in Ghana has left the world's number two producer struggling to fulfil sales contracts and is driving up the price of the commodity on global markets.

  • Also names company behind Iceberg Research. The injunction, filed at a Hong Kong court, comes after Iceberg Research issued its third report about one of Asia's biggest commodity traders, saying Noble had substantially understated its gross and net debt. In the legal writ, Noble named the defendants as Arnaud Vagner, a Hong Kong- based credit analyst it said it had...

  • Noble's concession gives clout to maverick researchers Thursday, 12 Mar 2015 | 3:40 AM ET

    *Investors struggle to force change in Asia. SINGAPORE, March 12- Noble Group's vow to be more open after a blogger attacked its accounting is a testament to the growing clout of independent researchers, who have shaken up Asian corporate practices in a way investors and brokerage analysts never could. Activist investors such as Oasis Management and Third Point...

  • NEW YORK, March 5- French chocolate maker Cemoi is betting that Africa's growing middle class will add its sweet treat to their diet as the company prepares to open a factory in Ivory Coast, where much of the world's cocoa beans are grown. Cemoi, which competes with the world's biggest bean buyer, Swiss-based Barry Callebaut, as well as processors and merchants like...

  • SINGAPORE/ HONG KONG, Feb 27- An unexpected $440 million asset write-down by Noble Group Ltd, following allegations of improper accounting by an obscure research firm, has raised investor concerns about how much leeway commodity traders have in valuing their assets. Singapore- listed Noble, one of Asia's biggest commodity traders, lost $1.1 billion of its...

  • SINGAPORE/ HONG KONG, Feb 27- An unexpected $440 million asset write-down by Noble Group Ltd, following allegations of improper accounting by an obscure research firm, has raised investor concerns about how much leeway commodity traders have in valuing their assets. Singapore- listed Noble, one of Asia's biggest commodity traders, lost $1.1 billion of its...

  • SINGAPORE, Feb 26- Commodity trader Noble Group Ltd unexpectedly reported its first quarterly loss in three years due to asset write-downs, and rejected allegations of improper accounting, saying a disgruntled former junior employee was behind a critical report. In an earnings call after its results late on Thursday, Chief Executive Yusuf Alireza faced a...

  • NEW YORK, Feb 18- Chocolate sales in China should grow to $4.3 billion by 2019, up nearly 60 percent from $2.7 billion in 2014 and driven by demand from the growing urban population, a senior Hershey officer forecast on Wednesday. He projected the company's China sales would grow by 35 percent to $450 million in 2015. Based on that figure, chocolate sales in China...

  • *Little is known about Iceberg Research. The report, by little known group Iceberg Research and posted online on Sunday, triggered a two-day rout in Noble's shares that wiped $770 million off the company's market value. Noble, which is listed in Singapore but based in Hong Kong, said in a separate statement it would fully cooperate with the MAS investigation.

  • This firm's shares get hit after Enron comparison Tuesday, 17 Feb 2015 | 6:16 AM ET

    Noble's shares dropped for a second day despite analysts' skeptical view of an anonymous, critical research report comparing the company to Enron.

  • *Noble on Monday rejected allegations by Iceberg Research. Noble, which is listed in Singapore but based in Hong Kong, has rejected claims from Iceberg Research which said in a report posted online on Sunday that Noble used aggressive accounting to mislead investors. Not much is known about Iceberg Research, which declined to comment on its background, analysts...

  • *Noble on Monday rejected allegations by Iceberg Research. The commodity trading firm has rejected claims from Iceberg Research which said in a note posted on the Internet on Sunday that Noble used aggressive accounting to mislead investors. All material information to which Iceberg Research refers is in the public domain.

  • NEW YORK/ SINGAPORE, Dec 16- Olam International Ltd will buy Archer Daniels Midland Co's cocoa business for $1.3 billion, catapulting the Singapore- based commodities firm into the top tier of global suppliers to the growing chocolate business. The deal would be Olam's biggest ever and mark a dramatic turnaround after an attack two years ago on its acquisition...

  • FACTBOX-ADM's and Olam's cocoa businesses Tuesday, 16 Dec 2014 | 4:49 AM ET

    Dec 16- Olam International Ltd's $1.3 billion deal to buy Archer Daniels Midland Co's cocoa business will create one of the world's top cocoa bean processors and traders, rivalling Barry Callebaut AG and Cargill Inc.. The Chicago- based firm has eight cocoa bean processing facilities: Ontario, Canada; Koog aan de Zaan and Wormer, the Netherlands; Mannheim, Germany;...

  • PAINE, CHILE, Dec 2- The world's biggest maker of industrial chocolate Barry Callebaut said on Tuesday there will be a global cocoa surplus this year and possibly the next, taking a more bearish perspective than some other forecasters so far. "This year we will have more beans than we need, so we will have a surplus," Juergen Steinemann, chief executive of the Swiss...

  • Indonesia's rice-for-poor scheme to test new president Thursday, 28 Aug 2014 | 8:19 PM ET
    Two farmers cut stalks of rice using a special knife called 'anggapan' during harvest season in Tabanan, Bali, Indonesia.

    Indonesia's anti-graft agency will launch a probe into the nation's subsidized rice scheme, threatening moves to expand the role of the state food buying agency.

  • Africa is hot, but will investments pay off? Tuesday, 17 Jun 2014 | 7:11 PM ET
    Sacks of grain on display at Dawanau grain market, the largest grain market in west Africa, on the outskirts of the northern Nigerian city of Kano

    More global companies are interested in targeting investments in sub-Saharan Africa, but it isn't clear that high hopes for the region will pan out.

  • Temasek offers to buy Olam, values firm at $4.3 billion Thursday, 13 Mar 2014 | 9:47 PM ET

    Temasek Holdings has offered to buy all shares in Olam owned by minority shareholders in a cash deal that values the trading firm at $4.3 billion.

  • Why Singapore needs to double productivity   Tuesday, 22 Oct 2013 | 11:03 PM ET
    Singapore needs to double productivity

    James Sullivan, Director of ASEAN Research at J.P. Morgan tells CNBC's Cash Flow that Singapore will need to double its productivity if it wants to maintain current growth levels.