* Asian stocks climb for second week Sep 20, 2009
Taipei Times - archives. Enter your search terms. (Taipei Times, Taiwan -- World Business)
The Best Little Investment Opportunity I Know Sep 20, 2009
Thus, the major companies in these major emerging markets -- names like POSCO (NYSE: PKX), Diageo (NYSE: DEO), and Rio Tinto (NYSE: RTP) -- are fairly well-covered by U.S. analysts ... Diageo and POSCO are Income Investor picks. (MSNBC -- Business)
Asian Stocks Rise for Second Week on Growth Outlook, Rally in Commodities Sep 19, 2009
Posco, South Koreas biggest steelmaker, gained 5. 4 percent to 511,000 won. (Bloomberg -- Asia)
ArcelorMittal, Posco May Start Building Delayed Indian Plants Next Year Sep 10, 2009
ArcelorMittal, Posco May Start Building India Plants (Update2) - Bloomberg ... ArcelorMittal, Posco May Start Building India Plants (Update2) ... Posco is very keen and would like to start tomorrow, Singh said in an interview. (Bloomberg -- Asia)
FuelCell Energy Reports Third Quarter 2009 Results and Latest Accomplishments Sep 9, 2009
POSCO Power orders 30 ... "We continued to drive sales volumes with the Sonoma County and POSCO Power orders that totaled over 32 megawatts of orders -- our highest ever in a single quarter." ... South Korea: In the third quarter, POSCO Power ordered 30. (Primezone Releases)
Land delays hit big steel projects Sep 6, 2009
These are being set up by global steel companies such as ArcelorMittal and Posco and domestic giants like Tata Steel, Jindal Steel and Essar Steel ... In fact, ArcelorMittal and Posco alone are expected to bring in a whopping Rs 1,31,000 cr for setting up three projects in two states, Orissa and Jharkhand ... The government has recognised that pubic protests and law and order situation are still critical issues to be addressed for South Korean steel company Poscos Rs 51,000 cr Orissa project... (India Times)
Giant Indian oil field comes on stream Aug 30, 2009
A number of big foreign investments such as a 12-billion-dollar project by South Korean steelmaker POSCO have been hit by delays. Cairn has made 25 oil discoveries in the Barmer region -- of which the three biggest are Mangala, Bhagyam and Aishwariya. (Yahoo! Asia News)
China's Baosteel Buys 15% Stake in Australian Iron Ore, Coal Miner Aquila Aug 28, 2009
Baosteel overtook Japans JFE Holdings Inc. and South Koreas Posco to become the worlds third-largest steelmaker last year as Chinas economic expansion fuelled demand for construction and automobiles. Steel production in China rose to record in July as fixed-asset investment increased 33. (Bloomberg -- Australia & New Zealand)
P K Rastogi, Steel Secretary Aug 16, 2009
The economic slowdown had some impact on rolling out of three major greenfield projects to be executed by ArcelorMittal and Posco in Jharkhand and Orissa. The expected investment in these areas is about Rs 130,000 cr. (India Times)
No coalminers' daughters, but they're desirable nonetheless Aug 11, 2009
And Macarthur's register is dominated by CITIC Australia and the steelmakers ArcelorMittal and Posco after a takeover failed to eventuate last year. Any bid would need to assure Arcelor and Posco of a continued steady supply of coal. (Sydney Morning Herald -- Business)
* S Koreas POSCO opens auto sheet plant in Mexico Aug 10, 2009
S Koreas POSCO opens auto sheet plant in Mexico ... Mexico CGL gives POSCO a stable supply of high-quality steel sheet ... X Chung Joon-yang, POSCO CEO. (Taipei Times, Taiwan -- Sports)
Adani Power's IPO Augurs Well for Equity Sales by India's NHPC, Indiabulls Aug 4, 2009
Investors are betting that raising funds will help the companies build new plants and add to the nations power generation capacity even as delays in getting land or regulatory approval have plagued firms including South Koreas Posco and Tata Motors Ltd. ... Posco, which announced plans for a $12 billion investment in an iron ore mine in June 2005, is still awaiting a mining license from the Indian government. (Bloomberg -- Asia)
ArcelorMittal posts 3rd consecutive quarterly loss Aug 3, 2009
Mittal would not comment directly on reports that it was considering offloading its eastern European stainless steel business to a joint venture with South Korea's Posco. He said the company did not want to sell assets entirely but would consider joint ventures. (ABC 7 News, DC)
* Domestic steel prices to increase Jul 29, 2009
The Kaohsiung-based companys price hike follows on the heels of similar moves by Chinas Baoshan Iron Co (Baosteel, _) and Anshan Iron Group (b) as well as South Koreas Pohang Iron Co (POSCO). It also marked the second increase for the company this year after it raised its prices for this month and next month by 7 percent. (Taipei Times, Taiwan -- World Business)
* [BUSINESS BRIEFS] Jul 23, 2009
China Steel joins rivals including South Koreas Posco and Chinas Baosteel Group Corp. in indicating the worst may be over for global steel demand. On Tuesday, the company said it had a pretax profit of NT$774 million ($24 million) for the second quarter, after reported losses for the six months to March. (Taipei Times, Taiwan -- World Business)
JSW Steel net rises 55% to Rs 340 cr Jul 21, 2009
Recently, Posco, South Koreas largest steelmaker, raised its 2009 production target on July 13, signalling the worst of the slump in demand may be over. JSW is expanding its capacity to 11 million tonnes. (India Times)
Congress trade union joins anti-disinvestment chorus Jul 21, 2009
INTUCs opposition to disinvestment in POSCO during UPA-I had found backing from the Congress high command with the result that the government was forced to abandon the plan. At Mondays meeting of all central TUs, the INTUC along with other AITUC, CITU and HMS, decided to oppose the UPA governments policies on issues such as price rise of essential commodities, especially food grains; rising job losses and unemployment; violation of basic labour laws; the inadequacy of provisions under... (India Times)
Pulmonx Announces New President and CEO Michael A. Baker to Lead Interventional Pulmonology Company Jul 16, 2009
Pulmonx is venture funded by Montreux Ventures, MedVenture Associates, DeNovo Ventures, Latterell Ventures, Covidien Ventures and Posco Bioventures. (1) Aljuri N, Freitag L. Validation and pilot clinical study of a new bronchoscopic method to measure collateral ventilation prior to endobronchial lung volume reduction. (PR Newswire)
Asian stocks rally as confidence returns Jul 14, 2009
Asian stocks rose, lifting the MSCI Asia Pacific Index from an eight-week low, as Posco raised its production target and Singapore upgraded its forecast for economic growth. Posco, South Korea's largest steelmaker, climbed 3. (Sydney Morning Herald -- Business)
Asian Stocks Climb on Earnings Optimism, Singapore Growth; Komatsu Rises Jul 14, 2009
Asian Stocks Climb on Growth Optimism; Posco, Komatsu Advance - Bloomberg ... Asian Stocks Climb on Growth Optimism; Posco, Komatsu Advance. (Bloomberg -- Asia)
Amid Rio probe, BHP pushes iron ore index Jul 14, 2009
"An annual iron ore deal with BHP hasn't been agreed yet due to differences over how to settle carry-over amounts but we expect to conclude negotiations this month," Kwon Young-tae, executive vice president of raw material procurement at the world's No. 6 mill, Posco told reporters on Monday. "We hope to agree on prices with BHP at a similar level that we have already signed with Rio Tinto," he added. (Sydney Morning Herald -- Business)
Posco profit at 9-yr low, ups output target Jul 13, 2009
Posco, the world's No.6 steelmaker, reported its lowest quarterly profit in at least nine years on Monday, hit by price cuts and lower demand from struggling automakers and manufacturers, but raised its output target by 6 per cent. ... South Korea's Posco, which competes with Japan's Nippon Steel and JFE and China's Baosteel, said April-June operating profit tumbled 91 per cent to 170 billion won ($US131 ... 34 trillion won as Posco made record steel price cuts in May and reduced output due to... (Sydney Morning Herald -- Business)
Posco Second-Quarter Profit Tumbles 71% on Steel Price, Output Reductions Jul 13, 2009
Posco Profit Tumbles 71% After Cutting Prices, Output (Update1) - Bloomberg ... Posco Profit Tumbles 71% After Cutting Prices, Output (Update1) ... The global recession has curbed steel use by builders and automakers, prompting Posco to slash output in December for the first time in its 41-year history. (Bloomberg -- Asia)
Stocks End Mixed On Heavy Trade Jul 10, 2009
Earnings from 3Com (), Chattem (), Infosys () and Posco () will also be out Thursday. 4:15 p.m. Update: Stocks Battle To Mixed Close. (Investors Business Daily)
First Cargo from Indonesia's Tangguh LNG Project Jul 8, 2009
The first cargo, on board the Tangguh Foja, is bound for POSCO's LNG regasification terminal in Gwangyang in South Korea ... 15 million tonnes a year to K-Power and POSCO in South Korea, and a flexible contract to supply up to 3. (JCN Network, Japan)
Australia, New Zealand Stocks: BHP, Hellaby, Jupiter, Woodside Petroleum Jul 1, 2009
Posco (005490 KS), Asias third-biggest steelmaker, agreed to pay A$7. 8 million for a 16. (Bloomberg -- Australia & New Zealand)
Rio Tinto Says Some Iron Ore Prices May Revert to Spot Level From Tomorrow Jun 30, 2009
Nippon Steel Corp., JFE Holdings Inc. and Posco, Asias three biggest steelmakers, last month agreed to a 33 percent cut in the annual contract price for benchmark iron ore. For about 40 years, iron-ore suppliers have held annual talks with steelmakers to fix prices for the next 12 months. (Bloomberg -- Australia & New Zealand)
Vale Should Avoid Xstrata Bid, Preserve $12 Billion of Cash, Investors Say Jun 30, 2009
Iron-ore contract prices are down in 2009 for the first time in seven years, with Vale agreeing to cut prices for its benchmark product by 28 percent for customers including Nippon Steel Corp., Posco and ArcelorMittal. The company has yet to agree on prices with Chinese steelmakers, which are asking for larger discounts than those obtained by other Asian producers. (Bloomberg -- Latin America)
Iron ore pricing system near collapse as talks go on Jun 30, 2009
Nippon Steel, JFE Holdings and Posco, Asia's three biggest steelmakers, agreed last month to a 33 per cent cut in the annual contract price for benchmark iron ore. For about 40 years, iron-ore suppliers have held annual talks with steelmakers to fix prices for the next 12 months. (Sydney Morning Herald -- Business)
Rio keeps China iron ore talks alive Jun 29, 2009
The Australians want the mills to agree to a 33 per cent price cut over last year, in line with benchmarks already set with Japan's Nippon Steel and JFE and Posco of South Korea or buy ore on the spot market. Reuters. (Sydney Morning Herald -- Business)
India tightens the screw on Maoists Jun 25, 2009
There have been violent protests against land acquisition, for example, at Nandigram in West Bengal for the Tata Nano project and in Orissa by South Korean Posco. Siddharth Srivastava is a New Delhi-based journalist. (Asia Times Online)
China steelsfor a showdown Jun 23, 2009
Brazil's Vale said on June 10 it had agreed to a 28% price cut compared with last year with Nippon Steel and South Korea's POSCO. Last month, Rio agreed on a 33% price cut with Japanese and South Korean steel mills. The first agreement in the annual price talks is usually taken as the benchmark for other customers. (Asia Times Online)
Australia's Oakajee Iron Ore Port in Supply Talks With Angang Steel, Posco Jun 20, 2009
and , has also held talks with Japanese mills and South Koreas Posco, Chief Executive told reporters today. Iron ore producers in Australia have sold shares and brought in Chinese investors as they sought funding amid the global credit crunch. (Bloomberg -- Australia & New Zealand)
Partnership Gwinnett heads to Asia Jun 18, 2009
The delegation will then travel to Wuxi and then the city of Pohang to visit with the large corporation POSCO.. The Partnership Gwinnett strategy and its investors have allowed the Gwinnett community to create high-wage jobs -- more than 5,000 in the last two years -- including the most recent NCR corporate headquarters relocation of 1,500 jobs, said Gwinnett County Commission Chairman Charles Bannister. (Atlanta Business Chronicle, GA)
Rio Tinto says ore price talks uncertain Jun 16, 2009
South Korea's top steelmaker POSCO and Rio Tinto last month negotiated a price cut of 33 per cent for fines iron ore and 44 per cent for lump iron ore ... 3 per cent for pellets with Nippon Steel and Kobe Steel of Japan, and POSCO.. (Sydney Morning Herald -- Business)
China's Double-Edged Sword Jun 4, 2009
Global consolidation has left ArcelorMittal and South Korea's Posco (), both integrated mill operators, as the two largest steel makers in the group. Arcelor pulled nearly $125 billion in revenue last year, some 90% of which came from operations in Europe and the U.S. Posco drew more than $34 billion in revenue, primarily from Korea and China. (Investors Business Daily)
Pressure builds on Chinese to acccept Rio iron ore deal Jun 2, 2009
Japan's largest steelmaker, Nippon Steel, and Korean steelmaker Posco last week agreed to reduce the price of fines (a finer ore and benchmark product) by about 33 per cent to 97 cents per dry metric tonne unit (dmtu), from 144. 66 US cents in 2008. (Sydney Morning Herald -- Business)
China rejects iron ore price deal Jun 2, 2009
South Korea's Posco followed suit, locking in the 33-44 per cent price cut for the year to April 2010. The deal is likely to cost iron ore exporters $US10 billion ($A12. (Sydney Morning Herald -- Business)
Rio ties up iron ore price deal with Posco May 28, 2009
South Korea's top steelmaker Posco has negotiated a cut in iron ore prices of between 33 and 44 per cent with mining giant Rio Tinto ... Posco, the world's fourth largest steelmaker, said it would buy iron ore for $US58 ... "The deal with Rio will help our company cut costs. We are still in talks with BHP Billiton and Vale,'' POSCO spokeswoman Choi Youn-Joung said. Iron ore prices have dropped due to weak demand caused by the global economic slump, which forced the South Korean steelmaker to cut... (Sydney Morning Herald -- Business)
New Zealand's Dollar Gains After S&P Raises Debt Rating Outlook to Stable May 28, 2009
Australias dollar climbed as Posco, Asias third-largest steel mill, agreed to a 33 percent cut in iron ore prices with Rio Tinto Group ... The so-called Aussie also rose after Posco joined larger rivals Nippon Steel Corp. and JFE Holdings Inc. in accepting the second-highest annual contract price on record. (Bloomberg -- Australia & New Zealand)
Iron ore price deal with Japan leaves China cold May 27, 2009
Fearing that mining houses might win a deal closer to their proposed 20 percent cut, analysts had expected Nippon Steel to make another price reduction of about 5 000 (R440) a ton pending the result of iron ore negotiations, and Posco to slash prices again in the third quarter to reflect falling raw material prices. Nippon and Toyota agreed last month to a smaller-than-expected cut of 5 000 a ton, while Posco cut its domestic steel prices by up to 20 percent this month, the biggest such move... (Business Report, South Africa)
Asian steelmakers in disarray over Rio deal May 27, 2009
China has rejected the 33 per cent cut in iron ore prices agreed a day ago by Japanese steelmakers, while No.4 global mill Posco prepared to accept the deal, highlighting the growing schism that has emerged in a single benchmark system ... South Korea's Posco will accept the same deal, sources said on Wednesday, following its Japanese peers as is the usual practice, but undercutting Chinese steelmakers who are looking for allies to hold out for cheaper rates. (Sydney Morning Herald -- Business)
Most Asian Stocks Rise; LG Electronics Falls on North Korean Nuclear Test May 25, 2009
4 percent lower at 109,500 won while steelmaker Posco lost 0. 6 percent to 396,000 won as North Koreas Korean Central News Agency said the nuclear test would bolster its nuclear deterrent for self-defense. (Bloomberg -- Asia)
Asian Stocks Fall as Lenovo Loss, U.S. Jobless Claims Damp Growth Optimism May 22, 2009
Posco, South Koreas top steelmaker, fell 3. 2 percent to 398,500 won. (Bloomberg -- Asia)
Posco takes on imports with steel price cut May 15, 2009
Financial Times FT.com. All times are London time. (FT.com -- Markets)
Indonesia to start gas shipment from Tangguh field to China in June May 14, 2009
50 per mmbtu for 20 years, and 550,000 tons a year to Posco (005490. SE) with price at 3. (Xinhuanet, China)
Berkshire Weekend's Best Quotes May 12, 2009
Munger on commodities: Posco (NYSE: PKX) is the best steel company in the world. . (MSNBC -- Business)
* South Korea to boost steel output capacity to record Apr 15, 2009
South Korea, the sixth-biggest steel-producing nation, may lift output capacity to a record this year as Posco and mills bet demand would revive, an industry group said ... Posco, Koreas biggest steelmaker, said last week it plans to boost investments by almost 50 percent to 7. (Taipei Times, Taiwan -- World Business)
* World Business Quick Take Apr 11, 2009
STEEL POSCOs net profit sinks. South Koreas top steelmaker POSCO said yesterday its net profit plunged 68 ... For this year, POSCO has set a production target of 28 million tonnes of crude steel, down 15 percent year-on-year, and sales of 25 trillion won, down 18 percent. (Taipei Times, Taiwan -- Sports)
China `Concerned' About U.S. Investigation Into Possible Dumping of Steel Apr 11, 2009
Posco, the worlds second-biggest steelmaker by market value, yesterday posted its largest profit drop in eight years after the global recession cut demand. The Pohang, South Korea- based company said net income fell 68 percent from a year earlier in the first three months of 2009. (Bloomberg -- Asia)
Need to know: Renault cuts output... Apr 11, 2009
Posco: The world s fourth-largest steelmaker, said it was in a preliminary deal with Rio Tinto for a 20 per cent discount in iron ore term prices, but is seeking for prices to go down even further. Asian steelmakers are locked in talks to settle contract prices of iron ore for the financial year started April 1 with the world s big three iron ore producers Vale, BHP Billiton and Rio Tinto. (New York Post -- Business)
Bank of Canada issues business survey, Monday Apr 10, 2009
Posco releases first-quarter results. Tuesday, April 14. (Globe and Mail -- Business)
Posco Profit Drops 68% as Production Cut on Lower Demand, Beats Estimates Apr 10, 2009
Posco Profit Drops by Most in Eight Years on Output (Update1) - Bloomberg ... Posco Profit Drops by Most in Eight Years on Output (Update1) ... Posco, which earns about 70 percent of its sales in the domestic market, cut output for the first time in its 41-year history in December, joining reductions by rivals globally. (Bloomberg -- Asia)
POSCO Q1 profit misses forecast Apr 10, 2009
SEOUL: POSCO, the world's No 4 steelmaker, reported on Friday a surprisingly steep drop in quarterly profit to the lowest level in seven years on crumbling global steel demand, and cut its 2009 output and sales targets. The South Korean firm, which competes with Japan's Nippon Steel and JFE and China's Baosteel, said January-March operating profit dropped 71 per cent to 373 billion won ($283 million), the lowest since the second quarter of 2002, and its profit margin tumbled to a record low of... (India Times)
The Best Stock to Own Apr 7, 2009
Despite this, you might want to consider mighty steel companies like Arcelor Mittal (NYSE: MT) and the South Korean company POSCO (NYSE: PKX) ... Kraft, POSCO, and Diageo areMotley Fool Income Investor recommendations. (MSNBC -- Business)
Posco debt sale gives hope to other Asian corporate issuers Mar 25, 2009
Posco, a South Korean steel maker, cracked the door open for Asian companies looking to raise debt abroad when it sold $700 million in dollar-denominated bonds last week, the first such deal from the private corporate sector in eight months ... Capital markets have had a great start, one of the strongest in many years, said Rodrigo Zorrilla, co-head of Global Markets in Asia for Citigroup, which was one of the underwriters for Posco and will bring other issuers to markets, including Korea... (International Herald Tribune -- Business)
BlueScope, OneSteel May Raise Output Cuts on Demand Drop, Deutsche Says Mar 23, 2009
South Koreas Posco today said it will extend output cuts into the second quarter. Inventory elsewhere also remains an issue, Deutsche said. (Bloomberg -- Australia & New Zealand)
Asian Stocks Fall, Paring Biggest Weekly Rally Since 2007; Macquarie Drops Mar 20, 2009
Posco, Asias third-largest steelmaker, gained 2. 7 percent to 357,000 won. (Bloomberg -- Asia)
FuelCell Energy Reports First Quarter 2009 Results and Latest Accomplishments Mar 11, 2009
FuelCell Energy has approximately 65 MW of DFC power plants installed or in backlog in Europe, Asia, and the U.S. Of this, over 38 MW were ordered by POSCO Power, the Company's manufacturing and distribution partner for South Korea ... South Korea: POSCO Power opened its 50 MW fuel cell balance-of-plant manufacturing facility in September 2008 ... In the interim, POSCO Power and FuelCell Energy are working together to set up an in-country service and maintenance organization and train POSCO... (Primezone Releases)
Global economy set to shrink, India loses 5 lakh jobs Mar 9, 2009
WASHINGTON: With over 5,00,000 jobs lost in India alone in recent months, the World Bank predicts the global economy and global trade would both shrink this year for the first time since World War II.. While the global economy is likely to grow at least 5 percentage points below potential in 2009, world trade is on track to record its largest decline in 80 years - with the sharpest losses in East Asia. (India Times)
Does the recent exit of immigrants mean that America will lose its position as a premier job destination? Mar 9, 2009
US slump resulting in reverse brain drain- Corporate Trends-News By Company-News-The Economic Times. US slump resulting in reverse brain drain8 Mar 2009, 1549 hrs IST, PTI. (India Times)
Crisis offers new chance for climate: US Mar 7, 2009
Crisis offers new chance for climate: Clinton- Developmental Issues-Earth-The Economic Times. Developmental Issues. (India Times)
Farhan, Asin best debutants Mar 7, 2009
Filmfare Awards: Asin, Farhan, Imraan are the best debutants- Entertainment-Media / Entertainment -News By Industry-News-The Economic Times. Filmfare Awards: Asin, Farhan, Imraan are the best debutants28 Feb 2009, 2232 hrs IST, TNN. (India Times)
* S Korean industrial output plunges Mar 3, 2009
Posco, the regions third-largest steelmaker, said it may cut production by 6 percent this year should a slump in sales to carmakers and builders continue until June. A decline in global demand is cutting production and damping confidence, said Ryu Seung-sun, an economist at HMC Investment Securities Co in Seoul. (Taipei Times, Taiwan -- Business)
DAX Index Falls to Four-Year Low, Completes Second Straight Monthly Drop Feb 28, 2009
Posco, Asias third-biggest steelmaker, may cut production by 6 percent this year should the demand slump from carmakers and builders continue until June, new Chief Executive Officer Chung Joon Yang said. Daimler, the worlds largest truckmaker, slid 4. (Bloomberg -- Germany)
