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Oil E&P Confront 53% Increase Over Past Two Years
Oil exploration and production costs have climbed 53 percent in the past two years as prices for everything from drilling rigs to labor continue to surge, according to a new price index released Monday.
The Upstream Capital Costs Index, a compilation of nine items central to the oil and gas industry, has been on the rise [...]
Australian Stocks Decline, Led by BHP Billiton as Metals Slide
Australian stocks fell for a fourth day. BHP Billiton led mining shares lower as metals prices dropped and a measure of commodities reached the lowest in almost two years.
CSL Ltd. led declines among U.S.-linked shares after a report on job and wage growth revived speculation interest rates won’t fall anytime soon in the world’s biggest [...]
Malayawata plans new plant
Malayawata Steel Bhd is looking to set up a RM200mil hot metal iron plant in Prai, Penang, as part of the group’s diversification into producing high-grade engineering steel products.
President Datuk Lim Hong Thye said the group expected to complete a viability study on the new plant by February.
“Construction of the plant, which is [...]
US-led Inflation Concerns Continue To Haunt Asian Markets – Asian Commentary
Tuesday marked another day when the Asian stocks took a hammering. The U.S government is expected to release May producer price data later during the day and consumer price index on Wednesday, both of which are widely expected to indicate signals for a rise in interest rate.
Japan’s benchmark Nikkei index nose-dived 4.14% or 614 points [...]
