Australia
Tuesday, 07 May 2013 11:03
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SINGAPORE: Brent futures slipped back towards $105 a barrel on Tuesday as investors saw the recent surge in prices as an opportunity to book profits, with concerns of an escalation in tensions in the Middle East helping to stem losses.The benchmark hit its highest in nearly a month above $105 in the previous session as supply worries following Israeli air strikes on Syria trumped concern of weak global demand. Oil also drew support from a record close of the Standard & Poor's 500 Index on hopes of a steady US recovery.Brent crude slipped 42 cents to $105.04 a barrel by 0455 GMT, after settling up at $105.46, its highest finish since April 10. Brent has rebounded more than $6 a barrel since falling below $99 last Wednesday. US oil fell 70 cents to $95.46, after ending 55 cents higher."There is some profit-taking coming in after the sharp rise in prices ...
COLOMBO: Sri Lankan stocks rose for a fifth straight session on Wednesday hitting a one-month high on foreign purchases of John Keells Holdings.Local investors remained on the sidelines as yields in T-bills rose for a third straight week.The main index ended 0.21 percent or 11.96 points higher at 5,734.82, its highest close since Feb. 19.Foreign investors were net buyers of 209.7 million rupees worth of shares, extending the year-to-date net foreign inflow to 4.19 billion ...
SYDNEY: Australia is set to become the world's biggest liquefied natural gas producer, with analysts predicting it will overtake Qatar by 2020 as it unlocks reserves that could last more than a century.
Seven of the world's 10 major LNG projects are under construction Down Under, with Aus$176 billion (US$183 billion) of private Australian and foreign investment in gas projects since 2007.
"The projects already under development will take us ahead of Qatar. It's just a case ...
SYDNEY: BHP Billiton , the world's largest miner, said on Friday it had approved an $845 million investment to establish a replacement mining area at the Appin Mine in Australia's New South Wales state.
The area will have a production capacity of 3.5 million tonnes per year of metallurgical coal from 2016, replacing production at the West Cliff Mine, BHP said in a statement.
Copyright Reuters, 2012 ...
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