Taiwan's Economy Ministry's Department of Investment Services and Mizuho Financial Group Inc. (NYSE: MFG) (TYO: 8411) signed a memorandum of understanding Tuesday to work together to expand both domestically and in fast-growing markets, especially China and Vietnam.
Sydney, Jan 20, 2010 AEST (ABN Newswire) - Wall Street rebounded on Tuesday to close at new 15-month highs. Health care sector rallied as investors bet that the outcome of a Senate race in Massachusetts might make it harder for President Barack Obama's health-insurance reforms.
Asian markets ended mixed Tuesday as investors awaited key earnings reports from the US. Japan's Nikkei 225 finished 0.8% lower, South Korea's Kospi fell 0.1% and Taiwan's Taiex gave up 1.1%. China's Shanghai Composite and Hong Kong's Hang Seng Index surged as concerns over monetary tightening eased.
Company News
Saudi-based Rabigh Refining and Petrochemical Co(PetroRabigh) (SAU:2380), a joint-venture of Saudi Aramco and Japan's Sumitomo Chemical (
TYO:4005), said on Tuesday it narrowed its net loss by 64.1 percent in the fourth quarter. PetroRabigh made a net loss of 323.7 million riyals (US$86.3 million) in the three months to end-December, down from 902.8 million riyals a year earlier.
Taiwan's Economy Ministry's Department of Investment Services and Mizuho Financial Group Inc. (NYSE: MFG) (TYO: 8411) signed a memorandum of understanding Tuesday to work together to expand both domestically and in fast-growing markets, especially China and Vietnam.
Singapore's energy services firm Ezra Holdings (SIN:5DN) said it is looking to bid for US$3 billion worth of projects over the next 18-20 months, signalling a revival for oil rigs demand. Ezra Holdings Tuesday said it got two contracts worth US$80 million combined. One of the contracts is a self-propelled jack-up contract that will involve chartering and operating a jack-up vessel to provide various offshore services in Africa. The other one is for a well-intervention service to a large national petroleum exploration and production group.
BHP Billiton Ltd. (ASX:BHP) said Wednesday its second-quarter iron ore production rose 11 per cent on year to a record 32.45 million metric tons after a strong recovery in commodity prices driven by demand from China and restocking in the developed world. But the mining giant said it expect some degree of volatility in the short-term outlook for its commodities while there is uncertainty about speed of recovery in developed economies.
Shanghai Industrial Holdings Ltd. (HKG:0363) said it has agreed to buy a 45% stake in Chinese property developer Neo-China Land Group (Holdings) Ltd. (HKG:0563) for HK$2.75 billion. Under the agreement, Shanghai Industrial will buy 500 million old shares and 684 million new shares in Neo-China at HK$2.32 each. The deal will increase Shanghai Industrial's total land bank by 2.7 times to 15.8 million square meters from 4.2 million square meters.
Contact
Michelle Liang
Asia Business News Asia Bureau
TEL: +61-2-9247-4344
Email: michelle.liang@abnnewswire.net
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