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It's not only the oil price that continues to rise. Wholesale gas prices have also hit record highs recently, ...
Thinkpad The high cost of energy is raising fears of a slowdown in Asian
economies. The cost of oil is dominating this week's Asia business
news.
VOA Asian markets closed mixed this week as hesitant investors weighed news of falling oil prices and signs that China's economy is cooling. Visit our AXcess News Forum and add your comments on this story. Try your hand at writing, the best story will be published on our news network. Take our business poll too! Print This Page June 11, 2004 ( VOA) Asian markets closed mixed this week as hesitant investors weighed news of falling oil prices and signs that China's economy is cooling.
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It is also interesting to mention Oil prices, that hit a new record, above $114 a barrel, on supply issues and rising demand in China.
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According to the indictment, Jones would steal various IBM and Penguin computer servers from Verisign's warehouse in Virginia and sell them to Johnson. Johnson would then sell the servers to several individuals, who would sometimes place them for sale on eBay. As a result of this scheme, the indictment alleges that Jones and Johnson caused Verisign to lose more than $120, 000 worth of computer equipment. In the indictment, Jones and Johnson are charged in three counts with causing the interstate transportation of stolen property, namely IBM 330 and 335 servers, in violation of 18 U.S.C.
Laptop Computer July 11, 2005 (AXcess News) Hong Kong - The high cost of energy
is raising fears of a slowdown in Asian economies. The cost of oil
is dominating this week's Asia business news.
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Desktop Computer A report from investment bank Morgan Stanley says the heavy
burden of oil prices, which recently climbed above 60 dollars per
barrel on global markets, could weaken China's growth and push
other Asian economies into recession.
Notebooks Andy Xie, chief Asia economist at Morgan Stanley, says until now
the growth in China's property sector has hidden the effects of
rising oil prices.
Lenovo "I think this is going to be a problem for the
economy. For other economies
that haven't had a property bubble to offset the oil costs, the
impact has been more dramatic. Look at Thailand and Taiwan and
Korea - the growth rates are really low," Mr. Xie says.Massive
supplies of oil are needed to fuel Asia's quickly growing
industries. The region accounts for about 29 percent of the
world's oil consumption.Mr. Xie says high demand for oil in
China was driven last year by its large automobile industry and
heavy reliance on diesel generators in factories, but demand is
softening as more coal-fired power
plants come online and Beijing
invests in public transportation.But Mr. Xie says financial
speculators will continue to pressure the market, due to
perceptions that oil demand in
Asia will remain at current levels.
Hard Drive "The oil traders still want to ignore the evidence of an
economic slowdown in Asia. The economic data in the next coming
months will increasingly point to a sharp slowdown in Asia. Only
then these guys may back off," Mr. Xie says.
Travelstar Rising oil prices have also prompted South Korea's central bank
to lower its economic growth forecasts from four percent to
three-point-eight percent.Song Kyung-jin, spokeswoman for the
Ministry of Finance, says, to spur the economy, the government will
reduce restrictions on public and corporate spending.She says
around six trillion won from both public and private sector sources
will be used for new infrastructure projects.
Gateway However, rising oil costs are creating opportunities for some in
Asia. Australia's largest securities firm, Macquarie Bank, will
enter into a joint venture with Abu Dhabi Commercial Bank in the
Middle East, where rising oil prices are creating new investment
opportunities and demand for financial expertise.
Laptop Parts Sources: Voice of America
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